1
 
                                      FILED PURSUANT TO RULE NO. 424(B)(3)
                                      REG. NO. 333-47261
 
PROSPECTUS SUPPLEMENT NO. 8
(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. 8 supplements and amends the Prospectus
dated May 14, 1998, as it has previously been supplemented by Prospectus
Supplements dated June 5, 1998, June 25, 1998, July 13, 1998, July 23, 1998,
August 12, 1998, September 8, 1998, and October 8, 1998. The initial May 14,
1998 Prospectus and all eight Prospectus Supplements constitute the current
Prospectus.
 
     The Prospectus relates to: (1) the 5 1/4% Convertible Quarterly Income
Preferred Securities (The Preferred Securities represent preferred undivided
beneficial ownership interests in the assets of Newell Financial Trust I.); and
(2) the shares of common stock of Newell Co. that may be issued on conversion of
the Preferred Securities.
 
     The Selling Holder Table in the Prospectus is 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 ---------------------- -------------------- -------------------- Total..................................................... 9,732,874 9,601,406 Additionally, the following new line items are hereby added to the Selling Holder Table: 197. CPR USA, Inc. ............................................ 7,500 7,398 198. Libertyview Fund L.L.C. .................................. 1,500 1,479 199. Libertyview Plus Fund..................................... 6,000 5,919 200. National Union Fire Insurance Co. of Pittsburgh........... 14,000 13,811 201. One Group Income Equity Fund.............................. 70,000 69,055 202. Prudential Securities Inc. ............................... 27,200 26,832
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. ------------------------ THE SECURITIES AND EXCHANGE COMMISSION AND STATE SECURITIES REGULATORS HAVE NOT APPROVED OR DISAPPROVED THESE SECURITIES, OR DETERMINED IF THIS PROSPECTUS SUPPLEMENT OR THE ACCOMPANYING PROSPECTUS IS TRUTHFUL OR COMPLETE. ANY REPRESENTATION TO THE CONTRARY IS A CRIMINAL OFFENSE. ------------------------ - --------------------- * QUIPS is a servicemark of Goldman, Sachs & Co. ------------------------ The date of this Prospectus Supplement is November 6, 1998.