WESTVACO CORP
8-K, 1997-08-27
PAPER MILLS
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                      SECURITIES AND EXCHANGE COMMISSION
                          Washington, D. C.  20549
                                 
  
                                  FORM 8-K
                                
              Current Report Pursuant to Section 13 or 15(d) of 
                         The Securities Act of 1934
                                 
  
                       Date of Report: August 27, 1997
  
  
                            WESTVACO CORPORATION
           (Exact name of registrant as specified in its charter)
                                 
  
     DELAWARE                    1-3013                 13-1466285
  (State or other              (Commission          (I.R.S. Employer
   jurisdiction                 File Number)         Identification No.)
   of incorporation)
  
  
              299 PARK AVENUE, NEW YORK, NEW YORK           10171
           (Address of principal executive offices)       (Zip Code)
                                 
  
  Registrant's telephone number, including area code (212) 688-5000          
                                
                                
                                
  ITEM 5.  OTHER EVENTS
  
    On August 26, 1997, the company announced that its Board of Directors 
  had authorized the periodic repurchase of the company's common stock to
  satisfy issuances under employee stock option plans.  In recent years,
  annual stock option related activity has averaged approximately 900,000
  shares, less than one percent of Westvaco's 102 million shares of 
  outstanding common stock.  
  
  
                           SIGNATURE
                                 
    Pursuant to the requirements of the Securities Exchange
  Act of 1934, the registrant has duly caused this report to be
  signed on its behalf by the undersigned thereunto duly
  authorized.
  
  
                                  WESTVACO CORPORATION
  
  
                                  By                           
                                     
                                  John W. Hetherington
                                  Vice President and Secretary
  
    August 27, 1997



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