JACLYN INC
SC 13G/A, 1997-02-14
LEATHER & LEATHER PRODUCTS
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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. 18 )*



                                  Jaclyn, Inc.
           ---------------------------------------------------------
                                (Name of Issuer)

                     Common Stock, par value $1.00 per share
           ---------------------------------------------------------
                         (Title of Class of Securities)

                                   469772 10 7
                         ------------------------------
                                 (CUSIP Number)


Check the following box if a fee is being paid with the 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).


SEC 1745 (2-95)
                                Page 1 of 3 pages

<PAGE>



                                       13G
- ------------------------                                       -----------------
CUSIP No.    469772 10 7                                       Page 2 of 3 Pages
- ------------------------                                       -----------------

================================================================================
1        NAME OF REPORTING PERSON
         S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON

         Bonnie Sue Levy
- --------------------------------------------------------------------------------
2        CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
                                                                      (a) [_]
                                                                      (b) [_]

- --------------------------------------------------------------------------------
3        SEC USE ONLY



- --------------------------------------------------------------------------------
4        CITIZENSHIP OR PLACE OF ORGANIZATION

              United States

- --------------------------------------------------------------------------------
                                    5        SOLE VOTING POWER

                                             0

                              --------------------------------------------------
           NUMBER OF                6        SHARED VOTING POWER
            SHARES   
         BENEFICIALLY                        0
           OWNED BY  
             EACH             --------------------------------------------------
           REPORTING                7        SOLE DISPOSITIVE POWER
            PERSON   
             WITH                            220,626
         
                              --------------------------------------------------
                                    8        SHARED DISPOSITIVE POWER

                                             0

- --------------------------------------------------------------------------------
9        AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

         220,626

- --------------------------------------------------------------------------------
10       CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
                                                                           [_]


- --------------------------------------------------------------------------------
11       PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9

         8.2%

- --------------------------------------------------------------------------------
12       TYPE OF REPORTING PERSON*

         IN

- --------------------------------------------------------------------------------
                      *SEE INSTRUCTIONS BEFORE FILLING OUT!

SEC 1745 (2-95)
                                Page 2 of 3 pages

<PAGE>

                                       13G
- ------------------------                                       -----------------
CUSIP No.    469772 10 7                                       Page 3 of 3 Pages
- ------------------------                                       -----------------

         Except as to Item 4, no change has occurred  with respect to the answer
to any items of this Schedule from the  information  last reported in respect of
such item.

Item 4.  Ownership.  As of December 31, 1996:

         (a)      Amount beneficially owned:

         220,626  shares of Common  Stock.  This amount  includes  4,322  shares
         allocated to Mrs. Levy's account under the Jaclyn,  Inc. Employee Stock
         Ownership  Plan and 12,500 shares which Mrs. Levy may acquire  purusant
         to presently exercisable stock options.

         (b)      Percent of Class: 8.2%

         (c)      Number of shares as to which such person has:

                  (i)      sole power to vote or direct the vote: none

                  (ii)     shared power to vote or direct the vote: none

                  (iii)    sole power to dispose or direct the  disposition  of:
                           220,626

                  (iv)     shared power to dispose or direct the disposition of:
                           none


                                    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.

                                                      February 13, 1997
                                            ------------------------------------
                                                            Date

                                                     /s/ Bonnie Sue Levy
                                            ------------------------------------
                                                          Signature

                                               Bonnie Sue Levy, Vice President
                                            ------------------------------------
                                                         Name/Title


SEC 1745 (2-95)
                                Page 3 of 3 pages



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