V. Loucks Form 4

FORM 4
[  ]  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)

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 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(f) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person* Loucks, Jr., Vernon R.	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 ___ Officer (give title below) ___ Other (specify below)
(Last) (First) (Middle) c/o Emerson Electric Co. 8000 W. Florissant	3. I.R.S. Identification Number of Reporting Person, if an entity (Voluntary)	4. Statement for Month/Day/Year February 6, 2003
(Street) St. Louis, Missouri 63136		5. If Amendment, Date of Original (Month/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 I -- Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned

1. Title of Security (Instr. 3)	2. Transaction Date (Month/ Day/ Year)	2A. Deemed Execution Date, if any (Month/ Day/ Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Trans- action(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/ Day/ Year)		Code	V	Amount	(A) or (D)	Price
Common Stock	2/5/02		A(1)		1,084	A	55.315
	2/4/03		A(2)		1,599	A	46.90	9,633	D

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. Conversion
    or
    Exercise
    Price of
    Derivative
    Security

3. Transaction
    Date
    (Month/
    Day/
    Year)

3A. Deemed
    Execution
    Date, if
    any
    (Month/
    Day/
    Year)

4. Transaction
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
    Derivative
    Security
    (Instr. 5)

9. Number
    of
    Derivative
    Securities
    Owned
    Following
    Reported
    Trans-
    action(s)
    (Instr. 4)

10. Ownership
    Form of
    Derivative
    Security:
    Direct
    (D) or
    Indirect
    (I)
    (Instr. 4)

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

Code

(A)

(D)

Date
Exerci-
sable

Expira-
tion Date

Title

Amount or Number of Shares

Explanation of Responses:

(1) Grant to reporting person of 1,084 shares of restricted stock having a fair market value of $55.315 per share on the date of grant pursuant to a compensation plan for non-employee Directors.

(2) Grant to reporting person of 1,599 shares of restricted stock having a fair market value of $46.90 per share on the date of grant pursuant to a compensation plan for non-employee Directors.

		/s/ Harley M. Smith	2/6/03
**	Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).	Harley M. Smith, Attorney-in-Fact for Vernon R. Loucks, Jr.	Date
		** Signature of Reporting Person
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.			Page 2

APPENDIX A

FORM 4
POWER OF ATTORNEY

Know all by these presents, that the undersigned hereby constitutes and appoints each of W. J. Galvin, W. W. Withers, H. M. Smith, and D.J. Rabe and their successors in office and designees, signing singly, the undersigned's true and lawful attorney-in-fact to:

(1)

execute and file for and on behalf of the undersigned, in the undersigned’s capacity as an officer and/or director of Emerson Electric Co.(the “Company”), Forms 4 and 5 in accordance with Section 16(a) of the Securities Exchange Act of 1934 and the rules thereunder;

(2)

do and perform any and all acts for and on behalf of the undersigned which may be necessary or desirable to complete and execute any such Form 3, 4, or 5, complete and execute any amendment or amendments thereto, and timely file such form with the United States Securities and Exchange Commission and any stock exchange or similar authority; and

(3)

take any other action of any type whatsoever in connection with the foregoing which, in the opinion of such attorney-in-fact, may be of benefit to, in the best interest of, or legally required by, the undersigned, it being understood that the documents executed by such attorney-in-fact on behalf of the undersigned pursuant to this Power of Attorney shall be in such form and shall contain such terms and conditions as such attorney-in-fact may approve in such attorney-in-fact’s discretion.

The undersigned hereby grants to each such attorney-in-fact full power and authority to do and perform any and every act and thing whatsoever requisite, necessary, or proper to be done in the exercise of any of the rights and powers herein granted, as fully to all intents and purposes as the undersigned might or could do if personally present, with full power of substitution or revocation, hereby ratifying and confirming all that such attorney-in-fact, or such attorney-in-fact’s substitute or substitutes, shall lawfully do or cause to be done by virtue of this power of attorney and the rights and powers herein granted. The undersigned acknowledges that the foregoing attorneys-in-fact, in serving in such capacity at the request of the undersigned, are not assuming, nor is the Company assuming, any of the undersigned’s responsibilities to comply with Section 16 of the Securities Exchange Act of 1934.

This Power of Attorney shall remain in full force and effect until the undersigned is no longer required to file Forms 4 and 5 with respect to the undersigned’s holdings of and transactions in securities issued by the Company, unless earlier revoked by the undersigned in a signed writing delivered to the foregoing attorneys-in-fact.

IN WITNESS WHEREOF, the undersigned has caused this Power of Attorney to be executed as of this 27th day of August, 2002.

/s/ Vernon R. Loucks, Jr.
Signature

Vernon R. Loucks, Jr.
Print Name

APPENDIX A

FORM 4POWER OF ATTORNEY

FORM 4
POWER OF ATTORNEY