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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. 7)*
Colgate-Palmolive Company
(NAME OF ISSUER)
Common Stock
(TITLE OF CLASS OF SECURITIES)
194-162-103
CUSIP NUMBER
*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).
CUSIP NO. 194-162-103
1. NAME OF REPORTING PERSON
S.S OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
LASALLE NATIONAL BANK AS SUCCESSOR OF LASALLE NATIONAL TRUST, N.A. (not
in its individual or corporate capacity but solely as trustee (the
"Trustee") of the Colgate-Palmolive Company Employee Stock Ownership
Trust (the "Trust") (Tax Identification No. 36-1521370)
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
Not applicable.
(A)
(B)
3. SEC USE ONLY
4. CITIZENSHIP OR PLACE OF ORGANIZATION
LaSalle National Bank is a national banking association organized under
the laws of the United States.
NUMBER OF 5. SOLE VOTING POWER
SHARES 0
BENEFICIALLY 6. SHARED VOTING POWER
OWNED BY 9,215,837 (as of 12/31/96)
EACH 7. SOLE DISPOSITIVE POWER
REPORTING 0
PERSON 8. SHARED DISPOSITIVE POWER
WITH 9,215,837 (as of 12/31/96)
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
9,215,837 (as of 12/31/96)
10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW(9) EXCLUDES CERTAIN SHARES
Not applicable.
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
5.47%
12. TYPE OF REPORTING PERSON
BK, EP
The filing of this Statement on Schedule 13G is made by LaSalle National Bank as
trustee (the "Trustee") for the Colgate-Palmolive Employee Stock Ownership Trust
and Plan (the "Trust") voluntarily and does not constitute, and should not be
construed as, an admission that either the Trust or the Trustee beneficially
owns any securities covered by this Statement or is required to file this
Statement for the Trust and the Trustee. In this connection, the Trust and the
Trustee disclaim beneficial ownership of the securities covered by this
Statement.
Item 1(a) NAME OF ISSUER:
The name of the issuer is Colgate-Palmolive Company (the "Issuer").
Item 1(b) ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES:
The address of the principal executive offices of the Issuer is 300
Park Avenue, New York, New York 10022-7499.
Item 2(a) NAME OF PERSON FILING:
The person filing this Statement is the Trust and the Trustee.
Item 2(b) ADDRESS OF PRINCIPAL BUSINESS OFFICE:
The address of the Trust and its principal place of business is c/o
LaSalle National Bank, 135 South LaSalle Street, Chicago, Illinois
60603. The address of the Trustee is 135 South LaSalle Street,
Chicago, Illinois 60603.
Item 2(c) CITIZENSHIP:
LaSalle National Bank is a national banking association organized
under the laws of the United States.
Item 2(d) TITLE OF CLASS OF SECURITIES:
The class of equity securities to which this Statement relates is the
Common Stock of the Issuer.
Item 2(d) CUSIP NUMBER:
The CUSIP number of the Common Shares is 194-162-103.
Item 3 THE PERSON FILING THIS STATEMENT IS A:
[b] [x] Bank as defined in Section 3(a)(6) of the Act.
[f] [x] Employee Benefit Plan, Pension Fund which is subject to the
provisions of the Employee Retirement Income Security Act of 1974
("ERISA") or Endowment Fund.
Item 4 OWNERSHIP
(a) Amount Beneficially Owned: 9,215,837
Includes 4,566,659 unallocated shares of Convertible Preferred Stock,
Series B which are convertible into Common Stock on a two-to-one
basis. Excludes 1,085,750 Shares of Common Stock which are allocated
to accounts of participants ("ESOP Participants") of the Colgate-
Palmolive Employee Stock Ownership Plan (the "ESOP") and 1,282,380
shares of Convertible Preferred Stock, Series B which are allocated to
accounts of the ESOP Participants.
(b) Percent of Class: 5.47% (as of 12/31/96)
(c) Number of shares as to which such person has:
(i) sole power to vote or to direct the vote:
0
(ii) shared power to vote or to direct the vote:
9,215,837
(iii) sole power to dispose or direct the disposition of:
0
(iv) shared power to dispose or direct the disposition of:
9,215,837
Participants in the Trust have the right to direct the Trustee in the
voting of Common Stock and Convertible Preferred Stock, Series B,
allocated to their accounts on all matters required to be submitted to
a vote of shareholders. If no directions are received as to the
voting of allocated shares of Common Stock and Convertible Preferred
Stock, Series B, the Trustee votes such shares in the same proportion
as the allocated shares for which the Trustee receives directions from
participants. The unallocated shares of Common Stock and the
Convertible Preferred Stock, Series B are voted by the Trustee in the
same proportion as the allocated shares for which the Trustee receives
directions from participants. In the event of a tender offer, the
participants have the right to direct the Trustee as to the manner in
which to respond. Allocated shares of Common Stock and Convertible
Preferred Stock, Series B, for which no directions are received shall
not be tendered by the Trustee. The unallocated shares of Common
Stock and Convertible Preferred Stock, Series B, are tendered in the
same proportion as the allocated shares for which directions are
received. 9,113,318 unallocated shares of Common Stock (consisting of
4,566,659 shares of Convertible Preferred Stock, Series B which are
convertible into common stock on a two-to-one basis) are held by the
Trustee in its capacity as Trustee of the Trust. This statement
includes 82,519 shares of Common Stock which are held by the Trustee
as trustee custodian for certain accounts unrelated to the Issuer or
the Trust. The filing of this Schedule 13G shall not be construed as
an admission that the Reporting Person is, for the purposes of
Section 1(d) and 13(g) of the Act, the beneficial owner of any
securities covered by the statement.
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:
Subject to the terms and conditions of the ESOP Trust and the related
plan, ESOP Participants are entitled to receive certain distributions
or assets held by the Trust. Such distributions may include proceeds
from dividends on, or the sale of, shares of Common Stock or
Convertible Preferred Stock, Series B reflected in this Schedule 13G.
The respective participants' accounts disclosed under Item 4(a) above
may have the right to receive, or direct the receipt of, dividends on,
or proceeds from the sale of, the 82,519 shares of Common Stock
disclosed under such Item 4(a).
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.
Item 10 CERTIFICATION:
By signing below I certify that, to the best of my knowledge and
belief, the securities referred to above were acquired in the ordinary course of
business and were not acquired for the purpose of and do not have the effect of
changing or influencing the control of the issuer of such securities and were
not acquired in connection with or as a participant in any transaction having
such purposes or effect.
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.
February 12, 1997
Date
LASALLE NATIONAL BANK. (not in its individual or
corporate capacity but solely as Trustee)
Signature
Jeffrey S. Schiedemeyer
Vice President
Name/Title