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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
Amendment No. 3
Consolidated Freightways, Inc.
d/b/a
CNF Transportation Inc.
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(Name of Issuer)
Common Stock, $.625 par value
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(Title of Class of Securities)
209237106
------------------------------------
(CUSIP Number)
Page 1 of 5 Pages
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CUSIP NO.
209237106
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1. Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
Goldman, Sachs & Co.
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2. Check the Appropriate Box if a Member of a Group
(a)
---
(b)
---
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3. SEC Use Only
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4. Citizenship or place of Organization
New York
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Number of 5. Sole Voting Power
Shares
Beneficially 0
Owned By --------------------------------------
Each 6. Shared Voting Power
Reporting
Person With 1,328,400
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7. Sole Dispositive Power
0
--------------------------------------
8. Shared Dispositive Power
1,328,400
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9. Aggregate Amount Beneficially Owned by Each Reporting Person
1,432,600
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10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares
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11. Percent of Class Represented by Amount in Row (9)
3.1%
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12. Type of Reporting Person
BD-PN-IA
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Page 2 of 5 Pages
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CUSIP NO.
209237106
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1. Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
The Goldman Sachs Group, L.P.
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2. Check the Appropriate Box if a Member of a Group
(a)
---
(b)
---
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3. SEC Use Only
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4. Citizenship or place of Organization
Delaware
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Number of 5. Sole Voting Power
Shares
Beneficially 0
Owned By --------------------------------------
Each 6. Shared Voting Power
Reporting
Person With 1,328,400
--------------------------------------
7. Sole Dispositive Power
0
--------------------------------------
8. Shared Dispositive Power
1,328,400
--------------------------------------
9. Aggregate Amount Beneficially Owned by Each Reporting Person
1,432,600
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10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares
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11. Percent of Class Represented by Amount in Row (9)
3.1%
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12. Type of Reporting Person
HC-PN
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Page 3 of 5 Pages
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Item 4. Ownership
Not applicable. The percent of the class owned as of April
30, 1997 did not exceed five percent.
Item 5. Ownership of Five Percent or Less of a Class.
If this statement is being filed to report the fact that as
of the date hereof the reporting persons have ceased to be
the beneficial owners of more than five percent of the
class of securities, check the following X .
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Item 10. Certification.
By signing below I certify that, to the best of my knowledge and
belief, the securities referred to above were acquired in the
ordinary course of business and were not acquired for the
purpose of and do not have the effect of changing or influencing
the control of the issuer of such securities and were not
acquired in connection with or as a participant in any
transaction having such purpose or effect.
Page 4 of 5 Pages
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SIGNATURE
After reasonable inquiry and to the best of my knowledge and
belief, I certify that the information set forth in this statement
is true, complete and correct.
Date: May 10, 1997
THE GOLDMAN SACHS GROUP, L.P.
By: The Goldman Sachs Corporation,
its general partner
By: /s/ David B. Ford
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Name: David B. Ford
Title: Executive Vice President
GOLDMAN, SACHS & CO.
By: /s/ David B. Ford
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Name: David B. Ford
Title: Managing Director
Page 5 of 5 Pages
