EXHIBIT (22)  SUBSIDIARIES OF THE REGISTRANT.
                               -------------------------------
 
 
                                 State of
Subsidiary                       Incorporation    Doing Business As
- ----------                       -------------    -----------------
 
CorryHiebert Corporation         Iowa             CorryHiebert Corporation
 
Heatilator Inc.                  Iowa             Heatilator Inc.
 
Hiebert East, Inc.               Iowa             The HON Company
 
Holga Inc.                       Iowa             Holga Inc.
 
Murphy-Miller Co.                Iowa             The HON Company
 
BPI Inc.                         Iowa             BPI Inc.
 
Ring King Visibles, Inc.         Iowa             Ring King Visibles, Inc.
 
XLM Company                      Iowa             XLM Company
 
The Gunlocke Company             Iowa             The Gunlocke Company
 
Chandler Attwood Limited         Iowa             Chandler Attwood Limited
 
HON Financial Corporation III    Iowa             HON Financial Corporation III
 
HON Export Limited               Iowa             HON Export Limited
 
T. M. Export Inc.                Barbados,        T. M. Export Inc.
                                 West Indies

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