UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 3 INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES
1. Name and Address of Reporting Person
Woolen Marvin A.
3101 N ELM STREET
GREENSBORO NC 27415-6540
2. Date of Event Requiring Statement (Month/Day/Year)
05/13/97
3. IRS or Social Security Number of Reporting Person (Voluntary)
###-##-####
4. Issuer Name and Ticker or Trading Symbol
CONE MILLS CORPORATION (COE)
5. Relationship of Reporting Person to Issuer (Check all applicable)
[ ] Director [ ] 10% Owner
[X] Officer (give title below) [ ] Other (specify below)
VICE PRESIDENT
6. If Amendment, Date of Original (Month/Day/Year)
05/15/97
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 Beneficially Owned
- -----------------------------------------------------------------------------------------------------
1)Title of Security 2)Amount of 3) 4)Nature of
Securities D Indirect
Beneficially or Beneficial
Owned I Ownership
- -----------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
Common Stock 68 I by 401(k)
Trust (1)
<CAPTION>
Table II Derivative Securitites Beneficially Owned
- ------------------------------------------------------------------------------------------------------------------------------------
1)Title of Derivative Security 2)Date Exercisable 3)Title and Amount of 4)Conver- 5)Ownership 6)Nature of
and Expiration Date Securities Underlying sion or Form of Indirect
(Month/Day/Year) Derivative Security exercise Derivative Beneficial
price of Security Ownership
Date Expira- Amount or Deri- Direct(D)
Exer- tion Number of vative or
cisable Date Title Shares Security Indirect(I)
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
Employee Stock Option (right to (2) 11/06/06 Common Stock 15,000 $8.000 D
buy) 05/08/97
<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.
</FN>
</TABLE>
SIGNATURE OF REPORTING PERSON
/S/ Woolen Marvin A.
DATE 12/09/97
