FORM 3

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility
Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:     3235-0287
Expires:    January 31, 2005
Estimated average burden
hours per response. . . . .0.5

[ ] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
 (Print or Type Responses)

1. Name and Address of Reporting Person*
Knight, Charles F.

2. Issuer Name and Ticker or Trading Symbol

Emerson Electric Co - EMR

6. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

  X  Director                                         10% Owner
  X  Officer (give title below)            Other (specify below)

Chairman

(Last)  (First)  (Middle)
c/o Emerson Electric Co.
8000 W. Florissant Ave.

3.  I.R.S. Identification Number of Reporting Person, if an entity (Voluntary)

4. Statement for Month/Day/Year

October 25, 2002

(Street)

St. Louis, Missouri 63136

5.  If Amendment, Date of Original (Month/Day/Year)

7.  Individual or Joint/Group Filing
(Check Applicable Line)
X Form filed by One Reporting Person
_ Form filed by More than One Reporting Person

(City)        (State)     (Zip)

Table 1 - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned

1.  Title of Security
    (Instr.4)

2. Trans-action Date

(Month/
Day/
Year)

2A. Deemed Execution Date, if any

(Month/
Day/
Year)

3. Trans-action Code
(Instr. 8)

4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)

5. Amount of Securities Beneficially Owned Following Reported Transaction(s)

(Instr. 3 and 4)

6. Ownership Form: Direct (D) or Indirect (I)

(Instr. 4)

7. Nature of Indirect Beneficial Ownership

(Instr. 4)

Code

V

Amount

(A) or (D)

Price

Common Stock

10/24/02

  

M

  

10,374

A

28.9063

1,383,114

D

  
               

8,799

I

401(k) Plan
               

11,092

I

401(k) Access Plan
                     
                     

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4(b)(v).

 

Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number.

(Over)
SEC 1474 (9-02)

Form 4 (continued)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)

  

1. Title of Derivative Security
(Instr. 3)

2. Conver-sion or Exercise Price of Deri-vative Security

3. Trans-action Date

(Month/
Day/
Year)

3A. Deemed Execution Date, if any

(Month/
Day/
Year)

4. Trans-action Code
(Instr. 8)

5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)

6. Date Exercisable and Expiration Date
(Month/Day/Year)

7. Title and Amount of Underlying Securities
(Instr. 3 and 4)

8. Price of Deriv-ative Security
(Instr. 5)

9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)

10. Owner-ship Form of Deriv-ative Security: Direct (D) or Indirect (I)
(Instr. 4)

11. Nature of Indirect Beneficial Ownership
(Instr. 4)

Code

V

(A)

(D)

Date Exer-cisable

Expir-ation Date

Title

Amount or Number of Shares

Employee Stock Option (right to buy)

28.9063

10/24/02

  

M

    

10,374

10/05/95

10/05/04

Common Stock

    

55,626

D

  
                               
                               
                               
                               
                               
                               
                               

Explanation of Responses:

** Intentional misstatements or omissions of facts constitute Federal Criminal Violations.
     See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).

Note: File three copies of this Form, one of which must be manually signed. If space is insufficient,
     see Instruction 6 for procedure.

Potential persons who are to respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

       /s/ Harley M. Smith             
Harley M. Smith, Attorney-in-Fact for Charles F. Knight
**Signature of Reporting Person

    10/25/02      
Date

Page 2