Canal Corp – ‘10-K’ for 12/31/96 – EX-5

As of:  Thursday, 3/27/97   ·   For:  12/31/96   ·   Accession #:  19731-97-2   ·   File #:  1-03203

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Annual Report   —   Form 10-K
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 10-K        Annual Report                                         14±    66K 
 3: EX-3        Articles of Incorporation/Organization or By-Laws     14±    62K 
 2: EX-5        Opinion re: Legality                                   1      7K 
 5: EX-10       401(K) Restoration Plan                               10±    40K 
 4: EX-10       Director's Stock Option & Deferred Compensation Pl    13±    52K 
 6: EX-11       Statement re: Computation of Earnings Per Share        1      8K 
 7: EX-13       Annual or Quarterly Report to Security Holders        39±   155K 
 8: EX-21       Subsidiaries of the Registrant                         2±     8K 
 9: EX-23       Consent of Experts or Counsel                          1      9K 
10: EX-99       Miscellaneous Exhibit                                  4     26K 

EX-5   —   Opinion re: Legality

[ARTICLE] 5                                                                     
[CIK] 0000019731                                                                
[NAME] CHESAPEAKE CORP /VA/                                                     
[MULTIPLIER] 1                                                                  

                                                                [Download Table]
                                                      
[PERIOD-TYPE]                   YEAR                  
[FISCAL-YEAR-END]                          DEC-31-1996
[PERIOD-END]                               DEC-31-1996
[CASH]                                       9,800,000
[SECURITIES]                                         0
[RECEIVABLES]                              153,900,000
[ALLOWANCES]                                 4,700,000
[INVENTORY]                                134,400,000
[CURRENT-ASSETS]                           325,800,000
[PP&E]                                   1,619,800,000
[DEPRECIATION]                             756,300,000
[TOTAL-ASSETS]                           1,290,200,000
[CURRENT-LIABILITIES]                      166,800,000
[BONDS]                                    499,400,000
[COMMON]                                    23,400,000
[PREFERRED-MANDATORY]                                0
[PREFERRED]                                          0
[OTHER-SE]                                 445,700,000
[TOTAL-LIABILITY-AND-EQUITY]             1,290,200,000
[SALES]                                  1,158,600,000
[TOTAL-REVENUES]                         1,172,000,000
[CGS]                                      843,000,000
[TOTAL-COSTS]                            1,084,300,000
[OTHER-EXPENSES]                             6,200,000
[LOSS-PROVISION]                               500,000
[INTEREST-EXPENSE]                          33,900,000
[INCOME-PRETAX]                             47,100,000
[INCOME-TAX]                                17,000,000
[INCOME-CONTINUING]                         30,100,000
[DISCONTINUED]                                       0
[EXTRAORDINARY]                                      0
[CHANGES]                                            0
[NET-INCOME]                                30,100,000
[EPS-PRIMARY]                                     1.27
[EPS-DILUTED]                                     1.27