Graco Inc – ‘SC 13G/A’ on 2/11/94 re: Graco Inc

As of:  Friday, 2/11/94   ·   Accession #:  950131-94-167   ·   File #:  5-14214

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Amendment to Statement of Beneficial Ownership   —   Schedule 13G
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: SC 13G/A    Amendment to Statement of Beneficial Ownership         9     28K 

Document Table of Contents

SC 13G/A
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SECURITIES AND EXCHANGE COMMISSION  
WASHINGTON, D.C.  20549 

SCHEDULE 13G  

UNDER THE SECURITIES EXCHANGE ACT OF 1934 
(AMENDMENT NO. 7)*  

GRACO INC.  
------------------- 
(Name of Issuer)  

Common Stock  
------------  
(Title of Class of Securities)  

384109-10-4 
----------- 
(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).                                   

(Continued on following page(s))  

Page 1 of 9 Pages 

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CUSIP NO. 384109-10-4                   13G                Page 2 of 9 Pages

------------------------------------------------------------------------------  
NAME OF REPORTING PERSON                                            
1    S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON                        

Trust U/W Clarissa L. Gray                              
------------------------------------------------------------------------------  
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*                   
2                                                              (a) / /        
                                                       (b) /X/

------------------------------------------------------------------------------  
SEC USE ONLY                                                        
3                                                                             

------------------------------------------------------------------------------  
CITIZENSHIP OR PLACE OF ORGANIZATION                                
4                                                                             
Trust governed by the laws of Minnesota                 

------------------------------------------------------------------------------  
SOLE VOTING POWER           
5                                     
NUMBER OF                2,012,932                                    

    SHARES       -----------------------------------------------------------
SHARED VOTING POWER         
BENEFICIALLY      6                                                       

OWNED BY                                                              
                 -----------------------------------------------------------
EACH               SOLE DISPOSITIVE POWER                         
7                                     
REPORTING                 2,012,932                                     

    PERSON       -----------------------------------------------------------
SHARED DISPOSITIVE POWER    
WITH          8                                                   

------------------------------------------------------------------------------  
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON        
9                                                                             
2,012,932                                                   

------------------------------------------------------------------------------  
 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
10                                                                              

------------------------------------------------------------------------------  
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)                   
11                                                                              
26.4%                                                   

------------------------------------------------------------------------------  
TYPE OF REPORTING PERSON*                                           
12                                                                              
00 (Trust)                                              

------------------------------------------------------------------------------  

*SEE INSTRUCTION BEFORE FILLING OUT!  

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CUSIP NO. 384109-10-4                   13G                Page 3 of 9 Pages

------------------------------------------------------------------------------  
NAME OF REPORTING PERSON                                            
1    S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON                        

First Bank National Association                         
Tax I.D. - 41-025-6895                                  
------------------------------------------------------------------------------  
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*                   
2                                                              (a) / /        
Trustee of Clarissa L. Gray Trust                         (b) /X/   

------------------------------------------------------------------------------  
SEC USE ONLY                                                        
3                                                                             

------------------------------------------------------------------------------  
CITIZENSHIP OR PLACE OF ORGANIZATION                                
4                                                                             
USA (National Bank organized under National Banking Act)            

------------------------------------------------------------------------------  
SOLE VOTING POWER           
5                                     
NUMBER OF                                                             

    SHARES       -----------------------------------------------------------
SHARED VOTING POWER         
BENEFICIALLY      6                                                       
2,012,932             
OWNED BY                                                              
                 -----------------------------------------------------------
EACH               SOLE DISPOSITIVE POWER                         
7                                     
REPORTING                                                               

    PERSON       -----------------------------------------------------------
SHARED DISPOSITIVE POWER    
WITH          8                                                   
2,012,932           
------------------------------------------------------------------------------  
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON        
9                                                                             
2,012,932                                                   

------------------------------------------------------------------------------  
 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
10                                                                              

------------------------------------------------------------------------------  
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)                   
11                                                                              
26.4%                                                   

------------------------------------------------------------------------------  
TYPE OF REPORTING PERSON*                                           
12                                                                              
BK                                                      

------------------------------------------------------------------------------  

*SEE INSTRUCTION BEFORE FILLING OUT!  

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CUSIP NO. 384109-10-4                   13G                Page 4 of 9 Pages

------------------------------------------------------------------------------  
NAME OF REPORTING PERSON                                            
1    S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON                        

Maynard B. Hasselquist                                  
S.S.  474-14-2845                                       
------------------------------------------------------------------------------  
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*                   
2                                                              (a) / /        
Trustee of Clarissa L. Gray Trust                         (b) /X/   

------------------------------------------------------------------------------  
SEC USE ONLY                                                        
3                                                                             

------------------------------------------------------------------------------  
CITIZENSHIP OR PLACE OF ORGANIZATION                                
4                                                                             
USA                                                                 

------------------------------------------------------------------------------  
SOLE VOTING POWER           
5                                     
NUMBER OF            10,814                                           

    SHARES       -----------------------------------------------------------
SHARED VOTING POWER         
BENEFICIALLY      6                                                       
                           2,083,002 (Includes all shares held by the Trust;
 OWNED BY                70 shares held by Mr. Hasselquist's wife, as to
                             which Mr. Hasselquist may be deemed to share voting
EACH                  power; and 70,000 shares  held by Greycoach 
                             Foundation of which Mr. Hasselquist is a director.)
REPORTING                                                               
                 -----------------------------------------------------------
PERSON              SOLE DISPOSITIVE POWER                          
7                                     
WITH                 10,814                                       

                 -----------------------------------------------------------
SHARED DISPOSITIVE POWER    
8                                     
2,083,002           
------------------------------------------------------------------------------  
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON        
9                                                                             
2,093,816                                                   

------------------------------------------------------------------------------  
 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
10                                                                              

------------------------------------------------------------------------------  
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)                   
11                                                                              
27.4%                                                   

------------------------------------------------------------------------------  
TYPE OF REPORTING PERSON*                                           
12                                                                              
IN                                                      

------------------------------------------------------------------------------  

*SEE INSTRUCTION BEFORE FILLING OUT!  

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CUSIP NO. 384109-10-4                   13G                Page 5 of 9 Pages

------------------------------------------------------------------------------  
NAME OF REPORTING PERSON                                            
1    S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON                        

David A. Koch                                           
S.S.  470-24-8289                                       
------------------------------------------------------------------------------  
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*                   
2                                                              (a) / /        
Trustee of Clarissa L. Gray Trust                         (b) /X/   

------------------------------------------------------------------------------  
SEC USE ONLY                                                        
3                                                                             

------------------------------------------------------------------------------  
CITIZENSHIP OR PLACE OF ORGANIZATION                                
4                                                                             
USA                                                                 

------------------------------------------------------------------------------  
SOLE VOTING POWER           
5                                     
                     121,331 (Includes "Restricted Shares" of 19,596 and
NUMBER OF           ESOP Shares of 134.)                              

    SHARES       -----------------------------------------------------------
SHARED VOTING POWER         
BENEFICIALLY      6                                                       
                        2,427,659 (Includes all shares held by Trust; 53,331
    OWNED BY             shares owned by Mr. Koch's wife, as to which Mr. Koch
                      may be deemed to share voting power; 10,690 shares
     EACH               owned by the Graco Foundation of which Mr. Koch is a
                       director; 79,881 unallocated shares held by Graco's
     REPORTING            Employee Stock Ownership Plan; 200,825 shares owned by
                      the Graco Pension Plan as to which Mr. Koch shares
 PERSON              voting power; and 70,000 shares held by Greycoach
                Foundation of which Mr. Koch is a director.)
WITH                                                              
                 -----------------------------------------------------------
SOLE DISPOSITIVE POWER      
7                                     
121,197                     

                 -----------------------------------------------------------
SHARED DISPOSITIVE POWER    
8                                     
2,427,659                   
------------------------------------------------------------------------------  
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON        
9                                                                             
2,548,990                                                   

------------------------------------------------------------------------------  
 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
10                                                                              

------------------------------------------------------------------------------  
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)                   
11                                                                              
33.4%                                                   

------------------------------------------------------------------------------  
TYPE OF REPORTING PERSON*                                           
12                                                                              
IN                                                      

------------------------------------------------------------------------------  

*SEE INSTRUCTION BEFORE FILLING OUT!  

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Item 4 of Amendment No. 6 to the Statement of Ownership and amendments thereto  
filed by the Trust U/W Clarissa L. Gray (the "Trust") pursuant to  Rules        
13d-1(c) and 13d-2(b) under Section 13(d) of the Securities Exchange Act of     
1934, as amended, is hereby further amended by restating such item to add or to 
update the information contained therein as set forth below:                    

Item 4   Ownership:                                                             

(a)  Amount beneficially owned:   2,012,932                   

(b)  Percentage of Class: 26.4%                               

(c)  Number of Shares as to which the Trust has:              

    (i)    Sole power to vote or direct the vote:  2,012,932

(ii)   Shared power to vote or direct the vote:  0  

              (iii)  Sole power to dispose or direct the disposition:  2,012,932

        (iv)   Shared power to dispose or direct the disposition:  0

The trustees share the power to vote or to direct the vote and to dispose or    
direct the disposition of all shares held by the Trust.  Any additional shares  
of Graco Inc. owned by individual trustees are listed on the Cover Page         
relating to such trustee.                                                       

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SIGNATURE 
--------- 

      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.                                                                        

Date:  February 10, 1994                                                        
                  TRUST U/W CLARISSA L. GRAY

                                First Bank National Association, Trustee

                /s/ John Westrom
                          By:_______________________________

                          John Westrom, Vice President

                                First Bank National Association, Trustee

                /s/ John Westrom
                          By:_______________________________

                          John Westrom, Vice President

                      /s/  Maynard B. Hasselquist*
                          __________________________________
                       Maynard B. Hasselquist, Trustee

           /s/ David A. Koch
                          __________________________________
              David A. Koch, Trustee

/s/ David A. Koch                                                   
*By: _________________________                                                  
David A. Koch,                                                        
Attorney-in-fact                                                      

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EXHIBIT INDEX 

                                                                [Download Table]


Exhibit          Description                            Page No.
-------          -----------                            --------
                                                                
A                Power of Attorney of                   9       
                 Maynard B. Hasselquist, dated                  
                 December 31, 1993                              

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SC 13G/A
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POWER OF ATTORNEY 

       KNOW ALL PERSONS BY THESE PRESENTS, that Maynard Hasselquist hereby
constitutes and appoints David A. Koch and Sidney Sehlin, and each of either of 
them, his true and lawful attorney-in-fact and agent, with full power of        
substitution and resubstitution for him and in his name, place and stead, in any
and all capacities, to sign reports required to be filed by the undersigned     
pursuant to Section 13(d) or 13(g) of the Securities Exchange Act of 1934 (and  
any and all amendments thereto) relating to the ownership of securities of Graco
Inc. by the trust u/w of Clarissa Gray, with the Securities and Exchange        
Commission and the New York Stock Exchange, granting unto said attorneys-in-fact
and agents, and each of them, full power and authority to do and perform each   
and every act and thing requisite or necessary to be done in and about the      
premises, as fully to all intents and purposes as he might or could do in       
person, hereby ratifying and confirming all that said attorneys-in-fact and     
agents or either of them, or their or his substitutes, may lawfully do or cause 
to be done by virtue hereof.                                                    

          IN WITNESS WHEREOF, this Power of Attorney has been signed on December
31, 1993.                                                                       

       /s/  Maynard B. Hasselquist
                ....................................
  Maynard B. Hasselquist

Page 9 of 9 Pages 

Dates Referenced Herein   and   Documents Incorporated by Reference

				Referenced-On Page
This ‘SC 13G/A’ Filing		Date		First		Last			Other Filings
Filed on:		2/11/94
		2/10/94		7					SC 13G
		12/31/93		8		9
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