<PAGE> 1
PROSPECTUS SUPPLEMENT NO. 2 PURSUANT TO RULE NO. 424(b)(3)
(TO THE PROSPECTUS DATED MAY 14, 1998) REGISTRATION NO. 333-47261
10,000,000 PREFERRED SECURITIES
NEWELL LOGO NEWELL FINANCIAL TRUST I
5 1/4% CONVERTIBLE QUARTERLY INCOME PREFERRED SECURITIES
(CONVERTIBLE QUIPS(SM)* SECURITIES)
(LIQUIDATION PREFERENCE $50 PER PREFERRED SECURITY)
GUARANTEED TO THE EXTENT SET FORTH IN THE PROSPECTUS REFERENCED HEREIN BY,
AND CONVERTIBLE INTO COMMON STOCK OF,
NEWELL CO.
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This Prospectus Supplement No. 2 supplements and amends the Prospectus
dated May 14, 1998, as supplemented by the Prospectus Supplement dated June 5,
1998, (the "Prospectus") relating to (i) the 5 1/4% Convertible Quarterly Income
Preferred Securities (the "Preferred Securities"), which represent preferred
undivided beneficial ownership interests in the assets of Newell Financial Trust
I, a statutory business trust formed under the laws of the State of Delaware,
and (ii) the shares of common stock of Newell Co., a Delaware corporation (the
"Company"), $1.00 par value per share (the "Company Common Stock"), issuable
upon conversion of the Preferred Securities.
The Selling Holder Table is hereby amended so that the following line items
read as follows:
<TABLE>
<CAPTION>
SHARES OF COMPANY
NUMBER OF COMMON STOCK
PREFERRED SECURITIES ISSUABLE UPON
OWNED AND CONVERSION OF
NAME OF SELLING HOLDER OFFERED HEREBY PREFERRED SECURITIES
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<C> <S> <C> <C>
50. Goldman, Sachs & Co....................................... 59,437 58,634
100. MFS Total Return Portfolio LPT Variable Insurance Series
Trust..................................................... 780 769
152. Swiss Bank Corporation -- London Branch................... 285,000 281,152
Total..................................................... 8,723,973 8,606,129
Additionally, the following new line items are hereby added to the Selling Holder Table:
181. JP Morgan Securities Inc.................................. 105,000 103,582
182. Kredietbank SA Luxembourg on behalf of International
Convertible Growth Fund................................... 21,000 20,716
183. Morgan Stanley Dean Witter................................ 20,700 20,420
</TABLE>
The Prospectus, together with this Prospectus Supplement No. 2, constitutes
the prospectus required to be delivered by Section 5(b) of the Securities Act of
1933, as amended, with respect to offers and sales of the Preferred Securities
and the Company Common Stock issuable upon conversion of the Preferred
Securities.
SEE "RISK FACTORS" BEGINNING ON PAGE 6 OF THE PROSPECTUS FOR A DISCUSSION
OF CERTAIN FACTORS TO BE CONSIDERED IN CONNECTION WITH AN INVESTMENT IN THE
OFFERED SECURITIES.
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THESE SECURITIES HAVE NOT BEEN APPROVED OR DISAPPROVED BY THE SECURITIES AND
EXCHANGE COMMISSION OR ANY STATE SECURITIES COMMISSION NOR HAS THE SECURITIES
AND EXCHANGE COMMISSION OR ANY STATE SECURITIES COMMISSION PASSED UPON THE
ACCURACY OR ADEQUACY OF THE PROSPECTUS OR THIS PROSPECTUS SUPPLEMENT. ANY
REPRESENTATION TO THE CONTRARY IS A CRIMINAL OFFENSE.
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* QUIPS is a servicemark of Goldman, Sachs & Co.
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The date of this Prospectus Supplement is June 25, 1998.
