FORM 11 - K
SECURITIES & EXCHANGE COMMISSION
WASHINGTON, D. C. 20549
(Mark One)
[X] ANNUAL REPORT PURSUANT TO SECTION 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
[FEE REQUIRED]
For the fiscal year ended December 31, 1993
OR
[ ] TRANSITION REPORT PURSUANT TO SECTION 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
[NO FEE REQUIRED]
For the transition period from.......to.......
Commission file number 1-1228
Employee Investment Plan of Stone & Webster,
Incorporated and Participating Subsidiaries
(Full title of the Plan)
Stone & Webster, Incorporated
250 West 34th Street, New York, N.Y. 10119
(212) 290-7500
(Name of issuer of the securities held
pursuant to the Plan and the address of its
principal executive office)
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Form 11-K Employee Investment Plan of
for the year ended Stone & Webster, Incorporated
December 31, 1993 and Participting Subsidiaries
REQUIRED INFORMATION
The balance sheets of the Plan as of
December 31, 1993 and 1992, and the related statement
of income and changes in plan equity and supplemental
schedules for the year ended December 31, 1993,
together with the Report and Consent of Independent
Accountants, are attached and filed herewith.
SIGNATURE
Pursuant to the requirements of the
Securities Exchange Act of 1934, the Committee under
the Plan, which administers the Plan, has duly caused
this annual report to be signed on its behalf by the
undersigned hereunto duly authorized.
EMPLOYEE INVESTMENT PLAN OF STONE & WEBSTER,
INCORPORATED AND PARTICIPATING SUBSIDIARIES
By /s/ J. A. SKIDMORE
-----------------------------------------
J. A. Skidmore
Secretary of the Committee under the Plan
Date: June 23, 1994
2
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Form 11-K Employee Investment Plan of
for the year ended Stone & Webster, Incorporated
December 31, 1993 and Participting Subsidiaries
EMPLOYEE INVESTMENT PLAN
of STONE & WEBSTER,INCORPORATED
and PARTICIPATING SUBSIDIARIES
INDEX OF FINANCIAL STATEMENTS
and SUPPLEMENTAL SCHEDULES
Pages
Report of Independent Accountants 4
Consent of Independent Accountants 5
Financial Statements:
Statement of income and changes
in plan equity for the year
ended December 31, 1993 6
Balance sheet as of December 31, 1993 7
Balance sheet as of December 31, 1992 8
Notes to financial statements 9-14
Supplemental Schedules:
Schedule of assets held for
investment purposes at
December 31, 1993 (Form 5500, Item 27a) 15-36
Schedule of reportable transactions
for the year ended December 31, 1993
(Form 5500, Item 27d) 37
[Note: The Financial Statements and Supplemental
Schedules will be filed with the Securities and
Exchange Commission under Form SE pursuant to
Regulation S-T, Item 311(c).]
3
<PAGE>
COOPERS certified public accountants
& LYBRAND
REPORT OF INDEPENDENT ACCOUNTANTS
________
To the Committee under the
Employee Investment Plan of Stone & Webster,
Incorporated and Participating Subsidiaries:
We have audited the balance sheets of the Employee
Investment Plan of Stone & Webster, Incorporated and
Participating Subsidiaries as of December 31, 1993 and
1992, and the related statement of income and changes
in plan equity for the year ended December 31, 1993.
These financial statements are the responsibility of
the Plan's management. Our responsibility is to
express an opinion on these financial statements based
on our audits.
We conducted our audits in accordance with generally
accepted auditing standards. Those standards require
that we plan and perform the audit to obtain
reasonable assurance about whether the financial
statements are free of material misstatement. An
audit includes examining, on a test basis, evidence
supporting the amounts and disclosures in the
financial statements. An audit also includes
assessing the accounting principles used and
significant estimates made by management, as well as
evaluating the overall financial statement
presentation. We believe that our audits provide a
reasonable basis for our opinion.
In our opinion, the financial statements referred to
above present fairly, in all material respects, the
financial position of the Employee Investment Plan of
Stone & Webster, Incorporated and Participating
Subsidiaries as of December 31, 1993 and 1992, and the
results of its operations and changes in its plan
equity for the year ended December 31, 1993, in
conformity with generally accepted accounting
principles.
Our audits were made for the purpose of forming an
opinion on the basic financial statements taken as a
whole. The supplemental schedules listed in the
accompanying index on page 3 are presented for
purposes of additional analysis and are not a required
part of the basic financial statements but are
supplementary information required by the Department
of Labor's Rules and Regulations for Reporting and
Disclosure under the Employee Retirement Income
Security Act of 1974. The supplemental schedules have
been subjected to the auditing procedures applied in
the audits of the basic financial statements and, in
our opinion, are fairly stated in all material
respects in relation to the basic financial statements
taken as a whole.
COOPERS & LYBRAND
New York, New York
April 29, 1994
<PAGE>
COOPERS
& LYBRAND certified public accountants
CONSENT OF INDEPENDENT ACCOUNTANTS
________
We consent to the incorporation by reference in the
Registration Statement of Stone & Webster,
Incorporated and Participating Subsidiaries on Form S-
8 (File No. 33-23594) of our report dated April 29,
1994, on our audits of the balance sheets of the
Employee Investment Plan of Stone & Webster,
Incorporated and Participating Subsidiaries as of
December 31, 1993 and 1992, and the related statement
of income and changes in plan equity and supplemental
schedules for the year ended December 31, 1993, which
report is included in this Annual Report on Form 11-K
for the year ended December 31, 1993.
COOPERS & LYBRAND
New York, New York
June 13, 1994
