TIMKEN CO
SC 13G/A, 1998-02-17
BALL & ROLLER BEARINGS
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<PAGE>   1
                                                    ---------------------------
                                                             OMB APPROVAL       
                                                    ---------------------------
                                                    OMB Number:       3235-0145
                                                    Expires: September 30, 1988
                                                    ---------------------------

                       SECURITIES AND EXCHANGE COMMISSION
                            WASHINGTON, D.C.  20549


                                  SCHEDULE 13G


                   UNDER THE SECURITIES EXCHANGE ACT OF 1934

                              (Amendment No. 19  )*




                              THE TIMKEN COMPANY
  -----------------------------------------------------------------------------
                                (Name of Issuer)



                        Common Stock Without Par Value
  -----------------------------------------------------------------------------
                         (Title of Class of Securities)


                                   8873895
  -----------------------------------------------------------------------------
                                 (Cusip Number)




Check the following box if a fee is being paid with this statement [  ].    (A 
fee is not required only if the filing person: (1) has a previous statement on
file reporting beneficial ownership of more than five percent of the class of
securities described in Item 1; and (2) has filed no amendment subsequent
thereto reporting beneficial ownership of five percent or less of such class.)
(See Rule 13d-7.)


*The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities,
and for any subsequent amendment containing information which would alter the
disclosures provided in a prior cover page.


The information required in the remainder of this cover page shall not be
deemed to be "filed" for the purpose of Section 18 of the Securities
Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that
section of the Act but shall be subject to all other provisions of the Act
(however, see the Notes).



SEC 1745 (5-87)



<PAGE>   2
                                      13G
<TABLE>
 CUSIP NO. 8873895                                                                 PAGE 2 OF 2 PAGES
<S>     <C>               

- -----------------------------------------------------------------------------------------------------------
|   1 | NAME OF REPORTING PERSON                                                                          |
|     | S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON                                                 |
|     |                                                                                                   |
|     |      William Robert Timken, Jr.                                                                   |
|     |        ###-##-####                                                                                | 
|-----|---------------------------------------------------------------------------------------------------|
|   2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*                                       (a) [   ] |
|     |                                                                                             ----- |
|     |                                                                                         (b) [ X ] |
|     |                                                                                             ----- |
|-----|---------------------------------------------------------------------------------------------------|
|   3 | SEC USE ONLY                                                                                      |
|     |                                                                                                   |
|-----|---------------------------------------------------------------------------------------------------|
|   4 | CITIZENSHIP OR PLACE OF ORGANIZATION                                                              | 
|     |                                                                                                   |
|     |   United States of America                                                                        |
|-------------------------------|-------|-----------------------------------------------------------------|
|            NUMBER OF          |     5 |  SOLE VOTING POWER                                              |
|                               |       |                                                                 |
|             SHARES            |       |          261,381                                                |
|                               |-------|-----------------------------------------------------------------|
|          BENEFICIALLY         |     6 |  SHARED VOTING POWER                                            |
|                               |       |                                                                 |
|            OWNED BY           |       |        7,382,292                                                |
|                               |-------|-----------------------------------------------------------------|
|              EACH             |     7 |  SOLE DISPOSITIVE POWER                                         |
|                               |       |                                                                 |
|            REPORTING          |       |          261,381                                                |
|                               |-------|-----------------------------------------------------------------|
|             PERSON            |     8 |  SHARED DISPOSITIVE POWER                                       |
|                               |       |                                                                 |
|              WITH             |       |        7,382,292                                                |
|-------------------------------|-------|-----------------------------------------------------------------|
|   9 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON                                      |
|     |                                                                                                   |
|     |                                          7,643,673                                                |
|-----|---------------------------------------------------------------------------------------------------|
|  10 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN                                     |
|     | SHARES*                                                                                           | 
|     |                                                                                                   | 
|-----|---------------------------------------------------------------------------------------------------|
|  11 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)                                                 |
|     |                                                                                                   |
|     |                                             12.14%                                                |
|-----|---------------------------------------------------------------------------------------------------|
|  12 | TYPE OF REPORTING PERSON*                                                                         |
|     |                                                                                                   |
|     |                                              IN                                                   |
- -----------------------------------------------------------------------------------------------------------
</TABLE>
                     *SEE INSTRUCTION BEFORE FILLING OUT!
                                       
                                       2

<PAGE>   3

                       SECURITIES AND EXCHANGE COMMISSION
                            WASHINGTON  D.C.  20549

                                  SCHEDULE 13G
                 Under the Securities and Exchange Act of 1934
                               (Amendment No. 19 )

ITEM 1 (a).  NAME OF ISSUER:

                        The Timken Company
                                                        
- -----------------------------------------------------------------------------

ITEM 1 (b).  ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES:               
                                                                            
                        1835 Dueber Avenue, S.W.
- -----------------------------------------------------------------------------
                        Canton, Ohio  44706                                
- -----------------------------------------------------------------------------

ITEM 2 (a).  NAME OF PERSON FILING:                                         
                                                                            
                        William Robert Timken, Jr.                            
- -----------------------------------------------------------------------------
                                                                            
ITEM 2 (b).  ADDRESS OF PRINCIPAL BUSINESS OFFICE; OR IF NONE, RESIDENCE:    
                                                                            
                        1835 Dueber Avenue, S.W.                           
- -----------------------------------------------------------------------------
                        Canton, Ohio  44706
- -----------------------------------------------------------------------------
                                                                            
ITEM 2 (c). CITIZENSHIP:                                         
                                                                            
                        United States                                       
- -----------------------------------------------------------------------------
                                                                            
ITEM 2 (d).  TITLE OF CLASS OF SECURITIES:                                  
                                                                            
                        Common Stock Without Par Value                    
- -----------------------------------------------------------------------------

ITEM 2 (e).  CUSIP NUMBER:                                                  
                                                                            
                        8873895                                            
- -----------------------------------------------------------------------------

ITEM 3.         STATUS OF PERSON FILING.

                        Not Applicable.                                   
- -----------------------------------------------------------------------------
                                                                            
<TABLE>                                                        
<S>      <C>                                                               <C>      
ITEM 4.  OWNERSHIP.                                            
                                                               
          (a)  Amount beneficially owned:                                        7,643,673 
                                                                            ---------------------
          (b)  Percent of class:                                                     12.14%
                                                                            ---------------------
          (c)  Number of shares as to which such person has:               
                                                               
              (i) Sole power to vote or to direct the vote                                261,381        
                                                                                        ---------
             (ii) Shared power to vote or to direct the vote                            7,382,292   
                                                                                        ---------
            (iii) Sole power to dispose or to direct the disposition of                   261,381      
                                                                                        ---------
             (iv) Shared power to dispose or to direct the  disposition of              7,382,292  
                                                                                        ---------
</TABLE>
                                                               
ITEM 5.   OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS.

          Not Applicable.
          --------------

ITEM 6.   OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER
          PERSON.

          Not Applicable [ ]
          --------------

          RESPONSE TO THIS ITEM IS CONTAINED ON THE SEPARATE SHEET(S) ATTACHED 
          HERETO [X]
          
ITEM 7.   IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARY
          WHICH ACQUIRED THE SECURITY BEING REPORTED ON BY THE
          PARENT HOLDING COMPANY


          Not Applicable.
          --------------

ITEM 8.   IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE
          GROUP.

          Not Applicable.
          --------------

ITEM 9.   NOTICE OF DISSOLUTION OF GROUP.

          Not Applicable.
          --------------
                          
<PAGE>   4



"In response to item 6, other persons have the right to receive and, in certain
cases, share the right to direct the receipt of the dividends from, and the
proceeds from the sale of, 7,382,292 shares of the securities identified in
this Schedule 13G.


5,247,944 shares of the securities identified in this Schedule 13G are held by
the Timken Foundation of Canton, which is a charitable foundation.  The three
trustees of the Timken Foundation of Canton are Messrs. Ward J. Timken, Don D.
Dickes, and me.  All of the trustees share the voting and dispositive power
with respect to the securities held by the Timken Foundation of Canton.

2,134,348 shares of the securities identified in this Schedule are held by my
wife, or trusts or foundations other than the Timken Foundation of Canton, and
for my ex-spouse for whom I serve as constructive trustee relative to option
shares.  I disclaim the beneficial ownership of these securities as well as the
securities held by the Timken foundation of Canton."

<PAGE>   5

ITEM 10.  CERTIFICATION


After reasonable inquiry and to the best of my knowledge and belief, I certify
that the information set forth in this statement is true, complete and correct.


February 5, 1998
- ----------------------------------
Date


/s/ W. R. Timken, Jr.
- ----------------------------------
Signature

William Robert Timken, Jr.
- ----------------------------------
Name/Title  Chairman of the Board




          ATTENTION:  INTENTIONAL MISSTATEMENTS OR OMISSIONS OF FACT
         CONSTITUTE FEDERAL CRIMINAL VIOLATIONS (SEE 18 U.S.C. 1001).


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