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                                                                   Exhibit 13-e

Nordson Corporation
CONSOLIDATED STATEMENT OF SHAREHOLDERS' EQUITY
Years ended October 31, 1993, November 1, 1992 and November 3, 1991


                                            CAPITAL IN       CUMULATIVE                                             GUARANTEE
                              COMMON         EXCESS OF       TRANSLATION       RETAINED           TREASURY           OF ESOP
                              SHARES        STATED VALUE     ADJUSTMENTS       EARNINGS            SHARES          OBLIGATION
- ------------------------------------------------------------------------------------------------------------------------------
                                                      (In thousands)
                                                                                                    
BALANCE AT 
  OCTOBER 28, 1990            $12,253          $21,130          $7,075          $179,384          $ (88,668)          $  (800) 
                                                            
  Shares issued under 
    company stock and 
    employee benefit plans                       3,968                                                1,943
  Net increase in 
    guarantee of 
    ESOP obligation                                                                                                      (805)
  Tax benefit from 
    stock option and restricted                       
    stock transactions                             418                 
  Purchase of treasury 
    shares                                                                                           (8,641)
  Translation adjustments                                         (866)         
  Net income                                                                      33,787 
  Dividends - $.40 per share                                                      (7,464)
                              ------------------------------------------------------------------------------------------------
BALANCE AT 
  NOVEMBER 3, 1991             12,253           25,516           6,209           205,707            (95,366)           (1,605)
                                                            
  Shares issued under 
    company stock and 
    employee benefit plans                      10,766                                                3,017
  Net increase in 
    guarantee of 
    ESOP obligation                                                                                                    (2,447)
  Tax benefit from 
    stock option and restricted                                 
    stock transactions                             982                 
  Purchase of treasury 
    shares                                                                                          (25,747)
  Translation adjustments                                        7,169          
  Net income                                                                      39,537 
  Dividends - $.44 per share                                                      (8,271)
                              ------------------------------------------------------------------------------------------------
BALANCE AT 
  NOVEMBER 1, 1992             12,253           37,264          13,378           236,973           (118,096)           (4,052)
                                                            
  Shares issued under 
    company stock and 
    employee benefit plans                       6,769                                                1,560
  Reduction in 
    guarantee of 
    ESOP obligation                                                                                                       971
  Tax benefit from 
    stock option and restricted                                                                              
    stock transactions                           1,134                 
  Purchase of treasury 
    shares                                                                                          (13,013)
  Translation adjustments                                       (5,751)         
  Net income                                                                      35,991 
  Dividends - $.48 per share                                                      (8,976)
                              ------------------------------------------------------------------------------------------------
BALANCE AT 
  OCTOBER 31, 1993            $12,253          $45,167          $7,627          $263,988          $(129,549)          $(3,081)
                              ================================================================================================
                           
<FN>                            
The accompanying notes are an integral part of the consolidated financial statements.

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