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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 11-K
ANNUAL REPORT
PURSUANT TO SECTION 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
/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 1-1169
MPB CORPORATION EMPLOYEES' SAVINGS PLAN
(the "Plan")
(Full title of the Plan)
THE TIMKEN COMPANY, 1835 Dueber Avenue, S.W., Canton, Ohio 44706
(Name of issuer of the securities held pursuant to
the Plan and the address of its principal executive office)
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REQUIRED INFORMATION
Audited financial statements and schedules for the Plan prepared
in accordance with the financial reporting requirements of the
Employee Retirement Income Security Act of 1974, as amended, are
filed herewith in lieu of an audited statement of financial
condition and statement of income and changes in plan equity.
Financial Statements and Exhibits
A) The following financial statements and schedules are being
filed separately in paper format under cover of Form SE
pursuant to Item 311(c) of Regulation S-T and General
Instruction E to Form 11-K:
1) Statements of Assets Available for Benefits -
December 1, 1993 and 1992
2) Statements of Changes in Assets Available for
Benefits - December 31, 1993 and 1992
3) Schedules
a) Assets Held for Investment - December 31, 1993
b) Transactions or Series of Transactions in Excess of
5% of the Current Value of Plan Assets - Year Ended
December 31, 1993
B) The following exhibit is filed as part of this annual report:
Exhibit No. 23 ..... Consent of Independent Auditors
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SIGNATURES
The Plan. Pursuant to the requirements of the
Securities Exchange Act of 1934, the trustees (or other persons
who administer the employee benefit plan) have duly caused this
annual report to be signed on their behalf by the undersigned
hereunto duly authorized.
MPB CORPORATION EMPLOYEES'
SAVINGS PLAN
Date June 24, 1994 By WAYNE F. CROWELL
Wayne F. Crowell
Secretary and Treasurer
of MPB Corporation
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REPORT OF INDEPENDENT AUDITORS
Administrative Committee
MPB Corporation Employees' Savings Plan
We have audited the accompanying statements of assets available
for benefits of MPB Corporation Employees' Savings Plan as of
December 31, 1993 and 1992, and the related statements of changes
in assets available for benefits for the years then ended. 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.
Except as explained in the following paragraph, 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.
As permitted by 29 CFR 2520.103-8 of the Department of Labor's
Rules and Regulations for Reporting and Disclosure under the
Employee Retirement Income Security Act of 1974, investment
assets held by Wells Fargo Bank, N.A., the trustee of the Plan,
and transactions in those assets were excluded from the scope of
our audit of the Plan's 1992 financial statements, except for
comparing the information provided by the trustee, which is
summarized in Note 4, with the related information included in
the financial statements.
Because of the significance of the information that we did not
audit, we are unable to, and do not, express an opinion on the
Plan's financial statement as of December 31, 1992, and for the
year then ended. The form and content of the information
included in the 1992 financial statements, other than that
derived from the information certified by the trustee, have been
audited by us and, in our opinion, are presented in compliance
with the Department of Labor's Rules and Regulations for
Reporting and Disclosure under the Employee Retirement Income
Security Act of 1974.
In our opinion, the financial statements, referred to above, of
MPB Corporation Employees' Savings Plan as of December 31, 1993,
and for the year then ended present fairly, in all material
respects, the assets available for benefits of the Plan as of
December 31, 1993, and the changes in assets available for
benefits for the year then ended in conformity with generally
accepted accounting principles.
Our audit of the Plan's financial statements as of and for the
year ended December 31, 1993, was made for the purpose of forming
an opinion on the financial statements taken as a whole. The
supplemental schedules of assets held for investment as of
December 31, 1993 and transactions or series of transactions in
excess of 5% of current value of plan assets for the year ended
December 31, 1993, are presented for the purpose 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 audit of the basic financial
statements for the year ended December 31, 1993, and, in our
opinion, are fairly stated in all material respects in relation
to the basic financial statements taken as a whole.
ERNST & YOUNG
Manchester, New Hampshire
May 17, 1994
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FORM 11-K
INDEX TO EXHIBITS
EXHIBIT NO. PAGE NO.
23 Consent of Independent Auditors 7
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Exhibit 23
CONSENT OF INDEPENDENT AUDITORS
We consent to the incorporation by reference in the Registration
Statement (Form S-8 No. 33-54360) pertaining to The MPB Corporation
Employees' Savings Plan of our report dated May 17, 1994, with
respect to the financial statements and schedules of The MPB
Corporation Employees' Savings Plan included in this Annual Report
(Form 11-K) for the year ended December 31, 1993.
ERNST & YOUNG
Manchester, New Hampshire
June 24, 1994
