W.W. GRAINGER <GWW> SEEKS TO INCREASE SHARES
W.W. Grainger Inc said it is asking
shareholders to approve an increase in the number of its common
shares, one dlr par value, to 75 mln shares from 35 mln shares
currently.
    In addition, W.W. Grainger said it is asking shareholders
to approve an increase in the number of authorized preferred
stock to three mln shares, with one dlr par value, from 600,000
shares, without par value.
    W.W. Grainger said its shareholders will vote on the
proposals, outlined in its proxy statement, at its annual
meeting on April 29.
    Also, in its annual report, W.W. Grainger, an electric
motor distributor, said it plans to open 16 branches in the New
York area and five in Detroit in the next eleven months.
    Grainger added it expects to open 15 of the branches this
year.
    The company said market research and start-up costs for the
New York and Detroit branches will run at about eight mln dlrs,
1.5 mln dlrs of which was charged against 1986 earnings, while
the rest will be charged against earnings as incurred.
 Reuter
