CHRYSLER <C> SEEKS TO RAISE SHARE LIMIT
Chrysler Corp said it is asking
shareholders to increase the number of shares of authorized
common stock to 500 mln from the current 300 mln.
    The company, in the proxy statement mailed to 135,000
stockholders for its May 21 annual meeting in Savannah, Ga., 
said the added shares will be needed to complete its proposed
buyout of American Motors Corp <AMO>.
    Chrysler also said the additional shares could be used for
future acquisitions, financing transactions, stock dividends or
splits and employee benefit plans.
    The company also said in the proxy statement for its annual
meeting that in 1986 the board approved the granting of 77.0
mln dlrs of cash awards to 1,914 executives and 16.2 mln dlrs
for a supplemental executive retirement plan under its
incentive compensation program.
    It said it also paid out 66.9 mlndlrs in bonuses to over
93,000 hourly and salaried employees, and it recently paid out
46.7 mln dlrs in profit-sharing payments to full-time employees
based on 1986 performance.
    Chrysler further said it is offering special 500 dlr checks
only to patrons of the 1987 New York Auto Show good toward the
purchase of Chrysler LeBaron Coupes, Plymouth Sundances, Dodge
Shadows and Dodge Daytonas.
    The checks will be redeemable at participating dealers in
the New York metropoliutan areas through May Two and are in
addition to any low percentage rate financing or cash
incentives the company is offering.
 Reuter
