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)
Woolen Marvin A.
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)
VICE PRESIDENT
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
- ------------------------------------------------------------------------------------------------------------------------------------
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
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C><C> <C> <C><C>
Common Stock 11/10/97 A V 4,000 A $0.000 4,000 D
Common Stock 1,259 I by 401(k) Trust
(1)
<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
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
Employee Stock Option (right $8.000 05/08/97(2) 11/06/06
to buy)
Employee Stock Option (right $8.500 11/10/97 A V 8,000 (3) 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
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
Employee Stock Option (right Common Stock 15,000 15,000 D
to buy)
Employee Stock Option (right 11/10/97 Common Stock 8,000 8,000 D
to buy)
<FN>
Explanation of Responses:
(1)
Employee Equity Plan ("Plan"), a qualified stock bonus plan.
(2)
Nonqualified stock option grant under 1992 Amended and Restated Stock Option Plan. Options are exerciseable in annual cummulative
20% increments beginning 5/08/97 and each anniversary date through 5/08/01.
(3)
Incentive stock option grant under 1992 Stock Option Plan. Options are exercisable in annual cummulative 20% increments beginning
5/11/98 and each anniversary date through 05/11/02.
-
During the quarterly valuation periods from the last report and through September 30, 1997, the reporting person's account in the
Registrant's Cone Mills Corporation Employee Equity Plan acquired 1,191 shares of Common Stock.
</FN>
</TABLE>
SIGNATURE OF REPORTING PERSON
/S/ Woolen Marvin A.
DATE 12/09/97
