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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. 7 )*
DUKE POWER COMPANY
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(Name of Issuer)
Common Stock, without par value
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(Title of Class of Securities)
264399 10 6
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(CUSIP Number)
Check the following box if a fee is being paid with this statement
/ /. (A fee is not required only if the filing person: (1) has a
previous statement on file reporting beneficial ownership of more than
five percent of the class of securities described in Item 1; and (2)
has filed no amendment subsequent thereto reporting beneficial
ownership of five percent or less of such class.) (See Rule 13d-7).
*The remainder of this cover page shall be filled out for a reporting
person's initial filing on this form with respect to the subject class
of securities, and for any subsequent amendment containing information
which would alter the disclosures provided in a prior cover page.
The information required in the remainder of this cover page shall not
be deemed to be "filed" for the purpose of Section 18 of the
Securities Exchange Act of 1934 ("Act") or otherwise subject to the
liabilities of that section of the Act but shall be subject to all
other provisions of the Act (however, see the Notes).
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<TABLE>
<CAPTION>
<S> <C>
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
The Duke Endowment
I.R.S. Employer Identification No. 56 0529965
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) / /
(b) / /
3 SEC USE ONLY
4 CITIZENSHIP OR PLACE OF ORGANIZATION
The Duke Endowment is an inter vivos common law
trust created for charitable purposes in New Jersey.
5 SOLE VOTING POWER
9,404,721 shares
NUMBER OF
SHARES
BENEFICIALLY 6 SHARED VOTING POWER
OWNED BY
EACH Not applicable
REPORTING
PERSON 7 SOLE DISPOSITIVE POWER
WITH
9,404,721 shares
8 SHARED DISPOSITIVE POWER
Not applicable
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
9,404,721 shares
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
Not applicable
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
4.7%
12 TYPE OF REPORTING PERSON*
Endowment fund
EP
</TABLE>
*SEE INSTRUCTIONS BEFORE FILLING OUT!
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Item 1 (a). Name of Issuer:
Duke Power Company
Item 1 (b). Address of Issuer's Principal
Executive Offices:
422 South Church Street
Charlotte, North Carolina 28242
Item 2 (a). Name of Person Filing:
The Duke Endowment
Item 2 (b). Address of Principal Business
Office:
100 North Tryon Street, Suite 3500
Charlotte, North Carolina 28202
Item 2 (c). Citizenship:
The Duke Endowment is an inter vivos common law trust
created for charitable purposes in New Jersey.
Item 2 (d). Title of Class of Securities:
Common Stock, without par value
Item 2 (e). CUSIP Number:
264399 10 6
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<TABLE>
<S> <C>
Item 3. The Person Filing Is An:
(f) Endowment Fund.
Item 4. Ownership:
(a) Amount Beneficially Owned:
9,404,721 shares
(b) Percent of Class:
4.7%
(c) Number of shares as to which such person has:
(i) sole power to vote or to direct the vote:
9,404,721 shares
(ii) shared power to vote or to direct the vote:
Not applicable
(iii) sole power to dispose or to direct the disposition of:
9,404,721 shares
(iv) shared power to dispose or to direct the disposition of:
Not applicable
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 person has
ceased to be the beneficial owner of more than five
percent of the class of securities, check the
following [x]
Item 6. Ownership of More than Five Percent on Behalf of
Another Person.
Not applicable
</TABLE>
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Item 7. Identification and Classification of the Subsidiary
Which Acquired the Security Being Reported on By the Parent
Holding Company.
Not applicable
Item 8. Identification and Classification of Members of the Group.
Not applicable
Item 9. Notice of Dissolution of Group.
Not applicable
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 purposes or effect.
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 January 28, 1997
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Signature /s/ Janice C. Walker
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Name/Title Janice C. Walker
Treasurer
