1
                                                FILED PURSUANT TO RULE 424(b)(3)
                                                      REGISTRATION NO. 333-47261


 
PROSPECTUS SUPPLEMENT NO. 4
(TO THE PROSPECTUS DATED MAY 14, 1998)
 
                        10,000,000 PREFERRED SECURITIES
 
NEWELL LOGO                 NEWELL FINANCIAL TRUST I
            5 1/4% CONVERTIBLE QUARTERLY INCOME PREFERRED SECURITIES
                      (CONVERTIBLE QUIPS(SM)* SECURITIES)
              (LIQUIDATION PREFERENCE $50 PER PREFERRED SECURITY)
   GUARANTEED TO THE EXTENT SET FORTH IN THE PROSPECTUS REFERENCED HEREIN BY,
                     AND CONVERTIBLE INTO COMMON STOCK OF,
 
                                   NEWELL CO.
                            ------------------------
 
     This Prospectus Supplement No. 4 supplements and amends the Prospectus
dated May 14, 1998, as supplemented by the Prospectus Supplement dated June 5,
1998, the Prospectus Supplement No. 2 dated June 25, 1998, and the Prospectus
Supplement No. 3 dated July 13, 1998 (the "Prospectus") relating to (i) the
5 1/4% Convertible Quarterly Income Preferred Securities (the "Preferred
Securities"), which represent preferred undivided beneficial ownership interests
in the assets of Newell Financial Trust I, a statutory business trust formed
under the laws of the State of Delaware, and (ii) the shares of common stock of
Newell Co., a Delaware corporation (the "Company"), $1.00 par value per share
(the "Company Common Stock"), issuable upon conversion of the Preferred
Securities.
 
     The Selling Holder Table is hereby amended so that the following line items
read as follows:
 
SHARES OF COMPANY NUMBER OF COMMON STOCK PREFERRED SECURITIES ISSUABLE UPON OWNED AND CONVERSION OF NAME OF SELLING HOLDER OFFERED HEREBY PREFERRED SECURITIES ---------------------- -------------------- -------------------- 180. Smith Barney, Inc......................................... 25,000 24,662 Total..................................................... 9,118,441 8,995,272 Additionally, the following new line items are hereby added to the Selling Holder Table: 187. BT Holdings (New York) Inc. .............................. 110,000 108,515 188. Pell Rudman Trust Company................................. 15,000 14,797
The Prospectus, together with this Prospectus Supplement No. 4, constitutes the prospectus required to be delivered by Section 5(b) of the Securities Act of 1933, as amended, with respect to offers and sales of the Preferred Securities and the Company Common Stock issuable upon conversion of the Preferred Securities. SEE "RISK FACTORS" BEGINNING ON PAGE 6 OF THE PROSPECTUS FOR A DISCUSSION OF CERTAIN FACTORS TO BE CONSIDERED IN CONNECTION WITH AN INVESTMENT IN THE OFFERED SECURITIES. ------------------------ THESE SECURITIES HAVE NOT BEEN APPROVED OR DISAPPROVED BY THE SECURITIES AND EXCHANGE COMMISSION OR ANY STATE SECURITIES COMMISSION NOR HAS THE SECURITIES AND EXCHANGE COMMISSION OR ANY STATE SECURITIES COMMISSION PASSED UPON THE ACCURACY OR ADEQUACY OF THE PROSPECTUS OR THIS PROSPECTUS SUPPLEMENT. ANY REPRESENTATION TO THE CONTRARY IS A CRIMINAL OFFENSE. ------------------------ - --------------------- * QUIPS is a servicemark of Goldman, Sachs & Co. ------------------------ The date of this Prospectus Supplement is July 23, 1998.