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FORM 3 U.S. SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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INITIAL STATEMENT OF BENEFICIAL OWNERSHIP
OF SECURITIES
Filed pursuant to Section 16(a) of the OMB Number 3235-0104
Securities Exchange Act of 1934, Expires: September 30, 1998
Section 17(a) of the Public Utility Estimated average burden
Holding Company Act of 1935 or Section 30(f) hours per response... 0.5
of the Investment Company Act of 1940
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1. Name and Address of Reporting Person 2. Date of 4. Issuer Name and Ticker
Event Re- or Trading Symbol
Merrill Lynch Pierce, Fenner quiring Statement The Bibb Company
& Smith Incorporated (Month/Day/Year)
____________________________________ 06/02/97 5. Relationship of Reporting 6. If Amendment,
(Last) (First) (Middle) Person to Issuer Date of Original
World Financial Center - North Tower (Check all applicable) (Month/Day/Year)
250 Vesey Street
____________________________________ ____ Director _x_ 10% Owner
(Street) 3. IRS or Social Se- ____ Officer ___ Other (specify 7. Individual or Joint
curity Number of (give title below)* /Group Filing (Check
Reporting Person below) Applicable Line)
(Voluntary) ___Form filed by One
New York, NY 10281 Reporting Person
___________________________________ _x_Form filed by More
(City) (State) (Zip) #13-5674085 than One Reporting
Person
TABLE I - NON-DERIVATIVE SECURITIES BENEFICIALLY OWNED
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1. Title of Security 2. Amount of 3. Ownership 4. Nature of Indirect
(Instr. 4) Securities Form Direct Beneficial Ownership
Beneficially (D) or Indirect (Instr. 5)
Owned (I) (Instr. 5)
(Instr. 4)
Common Stock, $.01 par value 2,073,779 *
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. (over)
(Print or Type Responses) SEC 1473(8-92)
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FORM 3 (CONTINUED)
TABLE II -- DERIVATIVE SECURITIES BENEFICIALLY OWNED (E.G., PUTS, CALLS, WARRANTS, OPTIONS, CONVERTIBLE SECURITIES)
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1. Title of Derivative Security 2. Date Exer- 3. Title and Amount of 4. Conver- 5. Owner- 6. Nature of
(Instr. 4) cisable Securities Underlying sion or ship- Indirect
(Instr. 4) and Derivative Security Exercise Form of Beneficial
Expiration (Instr. 4) Price of Deriv- Ownership
Date Deri- ative (Instr. 5)
(Month/Day/ vative Security:
Year) Security Direct
(D) or
Date Expira- Amount Indirect
Exer- tion Title or (I)
cisable Date Number (Instr. 5)
of
Shares
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Explanation of Responses:
* 2,073,779 shares of Common Stock were acquired by Merrill Lynch,
Pierce, Fenner & Smith Incorporated ("MLPF&S"), a direct, wholly-owned
subsidiary of Merrill Lynch & Co., Inc. ("ML&Co."), pursuant to an
order of the United States Bankruptcy Court for the District of
Delaware, dated September 12, 1996, confirming the Prepackaged
Chapter 11 Plan of Reorganization of The Bibb Company ("Bibb")
under Chapter 11 of the Bankruptcy Code (the "Plan") in
satisfaction of certain claims against Bibb, which Plan became
effective on September 27, 1996.
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**Intentional misstatements or omissions of facts constitute Federal Criminal Violations.
See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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/s/Richard B. Alsop June 2, 1997
___________________ ____________
Richard B. Alsop Date
Attorney-In-Fact
Note: File three copies of this Form, one of which must be manually signed. Page 2
If space provided is insufficient, see Instruction 6 for procedure. SEC 1473 (8-92)
JOINT FILER INFORMATION
Name: Merrill Lynch & Co., Inc.
Address: World Financial Center - North Tower
250 Vesey Street
New York, New York 10281
Designated Filer: Merrill Lynch, Pierce, Fenner & Smith Incorporated
Issuer & Ticker Symbol: The Bibb Company
Date of Event
Requiring Statement: June 2, 1997
Signature: /s/ Richard B. Aslop
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Richard B. Alsop*
Attorney-In-Fact
* Signed pursuant to a power of attorney, dated November 17, 1995, included
as Exhibit B to the Schedule 13G filed by Merrill Lynch & Co., Inc.
for Walden Residential Properties, Inc. and incorporated herein by
reference.
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