UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 4
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
[ ] Check this box if no longer subject to Section 16.
Form 4 or Form 5 obligations may continue.
1. Name and Address of Reporting Person(s)
Bray David E.
3101 N ELM STREET
GREENSBORO NC 27415-6540
2. Issuer Name and Ticker or Trading Symbol
CONE MILLS CORPORATION (COE)
3. IRS or Social Security Number of Reporting Person (Voluntary)
###-##-####
4. Statement for Month/Year
November 1997
5. If Amendment, Date of Original (Month/Year)
6. Relationship of Reporting Person(s) to Issuer (Check all applicable)
[ ] Director [ ] 10% Owner
[X] Officer (give title below) [ ] Other (specify below)
Treasurer
7. Individual or Joint/Group Filing (Check Applicable Line)
[X] Form filed by One Reporting Person
[ ] Form filed by More than One Reporting Person
<TABLE>
<CAPTION>
Table I Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
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1)Title of Security 2)Trans- 3.Trans- 4.Securities Acquired(A) 5)Amount of 6) 7)Nature of
action action or Disposed of (D) Securities Indirect
Date Code A Beneficially D Beneficial
(Month/ or Owned at or Ownership
Day/Year) Code V Amount D Price End of Month I
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<S> <C> <C> <C> <C><C> <C> <C><C>
Common Stock 11/10/97 A V 2,000 A $0.000 74,237 D
Common Stock 35,000 I by Spouse
Common Stock 1,000 I by Trust (1)
Common Stock 30,138 I by Trust (2)
Class A Preferred Stock 816 I by Trust (3)
<CAPTION>
Table II (PART 1) Derivative Securitites Acquired, Disposed of, or Beneficially Owned (Columns 1 through 6)
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1)Title of Derivative 2)Conversion 3)Trans- 4)Trans- 5)Number of Derivative 6)Date Exercisable and
Security or Exercise action action Securities Acquired (A) Expiration Date
Price of Date Code or Disposed of (D)
Derivative
Security Code V A D Exercisable Expiration
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<S> <C> <C> <C> <C> <C> <C> <C>
1984 Employee Stock Option $5.250 06/28/93 06/27/99
Plan (right to buy)
Employee Stock Option (right $15.625 08/19/93(4) 02/17/03
to buy)
Employee Stock Option (right $12.000 05/09/95(5) 11/08/04
to buy)
Employee Stock Option (right $8.000 05/07/97(6) 11/06/06
to buy)
Employee Stock Option (right $8.500 11/10/97 A V 2,000 (7) 05/11/98 11/09/07
to buy)
<CAPTION>
Table II (PART 2) Derivative Securitites Acquired, Disposed of, or Beneficially Owned (Columns 1,3 and 7 through 11)
- ------------------------------------------------------------------------------------------------------------------------------------
1)Title of Derivative 3)Trans- 7)Title and Amount 8)Price 9)Number of 10) 11)Nature of
Security action of Underlying of Deri- Derivative Indirect
Date Securities vative Securities D Beneficial
Amount or Security Beneficially or Ownership
Number of Owned at I
- Title Shares End of Month
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<S> <C> <C> <C> <C> <C> <C> <C>
1984 Employee Stock Option Common Stock 800 800 D
Plan (right to buy)
Employee Stock Option (right Common Stock 5,000 5,000 D
to buy)
Employee Stock Option (right Common Stock 5,000 5,000 D
to buy)
Employee Stock Option (right Common Stock 5,000 5,000 D
to buy)
Employee Stock Option (right 11/10/97 Common Stock 2,000 2,000 D
to buy)
<FN>
Explanation of Responses:
(1)
By trust partially for benefit of child of reporting person whose shares the reporting person may be deemed to beneficially own.
The reporting person denies beneficial ownership of these shares.
(2)
Employee Equity Plan ("Plan"), a qualified stock bonus plan.
(3)
Cone Mills Corporation 1983 ESOP, a qualified stock bonus plan. During quarter ended 9/30/96, reporting person acquired 24 shares
of Class A Preferred Stock under the Plan.
(4)
Incentive stock option grant under 1992 Stock Option Plan. Options are exercisable in annual cummulative 20% increments beginning
8/19/93 and each anniversary date through 8/19/97.
(5)
Nonqualified stock option grant under 1992 Stock Option Plan. Options are exercisable in annual cumulative 20% increments
beginning 5/9/95 and each anniversary date through 5/9/99.
(6)
Nonqualified stock option grant under the Amended and Restated 1992 Stock Plan. Options are exercisable in annual cumulative 20%
increments beginning 5/7/97 and each anniversary date through 5/7/01.
</FN>
</TABLE>
SIGNATURE OF REPORTING PERSON
/S/ Bray David E.
DATE 12/09/97
