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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. 1)
Fieldcrest Cannon, Inc.
(Name of Issuer)
Common Stock
(Title of Class of Securities)
316549-10-4
(CUSIP Number)
*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).
(Continued on following pages(s))
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SCHEDULE 13G
CUSIP NO. 316549-10-4
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1) Name of Reporting Person Travelers Group Inc.
S.S. or I.R.S Identification 52-1568099
No. of Above Person
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2) Check the Appropriate Box (a)
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if a Member of a Group
(See Instructions) (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 Shares (5) Sole Voting Power 0
Beneficially Owned (6) Shared Voting Power 0
by Each Reporting (7) Sole Dispositive Power 0
Person with (8) Shared Dispositive Power 0
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9) Aggregate Amount Beneficially
Owned by Each Reporting Person 0
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10) Check if the Aggregate Amount
in Row 9 Excludes Certain
Shares (See Instructions)
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11) Percent of Class Represented
by Amount in Row 9 0%
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12) Type of Reporting Person HC
(See Instructions)
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Item 1(a) Name of Issuer:
Fieldcrest Cannon, Inc.
Item 1(b) Address of Issuer's Principal Executive Offices:
One Lake Circle Drive
Kannapolis, NC 28081
Item 2(a) Names of Persons Filing:
Travelers Group Inc. ("TRV")
Item 2(b) Address of Principal Business Office or, if none, Residence:
The address of the principal business office of TRV is:
388 Greenwich Street
New York, New York 10013
Item 2(c) Citizenship:
TRV is a Delaware corporation.
Item 2(d) Title of Class of Securities:
Common Stock
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Item 2(e) CUSIP Number:
316549-10-4
Item 3. If this statement is filed pursuant to Rules 13d-1(b), or 13d-2(b),
check whether the person filing is a:
(a) [ ] Broker or Dealer registered under Sec. 15 of the Act
(b) [ ] Bank as defined in Sec. 3(a)(6) of the Act
(c) [ ] Insurance Company as defined in Sec. 3(a)(19) of the Act
(d) [ ] Investment Company registered under Sec. 8 of the
Investment Company Act
(e) [ ] Investment Adviser registered under Sec. 203 of the
Investment Advisers Act of 1940
(f) [ ] Employee Benefit Plan, Pension Fund which is subject to
the provisions of the Employee Retirement Income Security
Act of 1974 or Endowment Fund; see
Sec. 240.13d-1(b)(1)(ii)(F)
(g) [ x ] Parent Holding Company, in accordance with Sec. 240.13d-
1(b)(ii)(G) (Note: See Item 7)
(h) [ ] Group, in accordance with Sec. 240.13d-1(b)(1)(ii)(H)
Item 4. Ownership (as of February 28, 1998)
(a) Amount Beneficially Owned: See Item 9 of cover pages
(b) Percent of Class: See Item 11 of cover pages
(c) Number of shares as to which such person has:
(i) sole power to vote or to direct the vote
(ii) shared power to vote or to direct the vote
(iii) sole power to dispose or to direct the disposition of
(iv) shared power to dispose or to direct the disposition of
See Items 5-8 of cover pages
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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.
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.
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Item 10. Certification
By signing below I certify that, to the best of my knowledge, 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.
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: March 9, 1998
TRAVELERS GROUP INC.
By: /s/ Charles J. Gallo, Jr.
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Name: Charles J. Gallo, Jr.
Title: Assistant Controller
