SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. 1)*
Nashua Corp.
(Name of Issuer)
Common Stock
(Title of Class of Securities)
631226107
(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).
Cusip No. 631226107 13G
1. Name Of Reporting Person
S.S. or I.R.S. Identification No. Of Above Person
Gouws Capital Management, Inc.
I.R.S. Tax I.D. No. 01-0396254
2. Check The Appropriate Box If A Member Of A Group*
(a) [ ]
(b) [X]
3. SEC USE ONLY
4. Citizenship Or Place Of Organization: Maine
5. Sole Voting Power: 41,127
6. Shared Voting Power: none
7. Sole Dispositive Power: 367,735
8. Shared Dispositive Power: none
9. Aggregate Amount Beneficially Owned By Each Reporting
Person: 367,735
10. Check Box If The Aggregate Amount In Row (9) Excludes
Certain Shares* [ ]
11. Percent Of Class Represented By Amount In Row 9: 5.53
12. Type Of Reporting Person: IA
Item 1. (a) Name of Issuer:
Nashua Corporation
(b) Address of Issuer's Principal Executive Offices
P.O. Box 2002, Nashua, NH 03061-2002
Item 2. (a) Name of Person Filing:
Gouws Capital Management, Inc.
(b) Address of Principal Business Office
or, if none, Residence:
511 Congress Street, Portland, ME 04101
(c) Citizenship: Maine
(d) Title of Class of Securities: Common Stock
(e) CUSIP Number: 631226107
Item 3. If this statement is filed pursuant to Rule 13d-l(b),
or 13d-2(b), check whether the person filing is a:
(a) [ ] Broker or Dealer registered under Section 15
of the Act
(b) [ ] Bank as defined in section 3(a) (6) of the Act
(c) [ ] Insurance Company as defined in section 3(a)(19) of
the Act
(d) [ ] Investment Company registered under section 8 of the
Investment Company Act
(e) [X] Investment Adviser registered under section 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 Section
240.13d-l(b)(l)(ii)(F)
(g) [ ] Parent Holding Company, in accordance with Section
240.13d-1(b)(ii)(G) (Note: See Item 7)
(h) [ ] Group, in accordance with Section 240.13d-
l(b)(l)(ii)H)
Item 4. Ownership
If the percent of the class owned, as of December 31 of the year
covered by the statement, or as of the last day of any month
described in Rule 13d-l(b)(2), if applicable, exceeds five
percent, provide the following information as of that date and
identify those shares which there is a right to acquire.
(a) Amount Beneficially Owned: 367,735
(b) Percent of Class: 5.53
(c) Number of shares as to which such person has:
(i) sole power to vote or to direct the vote: 41,127
(ii) shared power to vote or to direct the vote: none
(iii) sole power to dispose or to direct the
disposition of: 396,065
(iv) shared power to dispose or to direct the
disposition of: none
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 [ ].
Not applicable.
Item 6. Ownership of More than Five Percent on Behalf of
Another Person.
If any other person is known to have the right to receive or the
power to direct the receipt of dividends from, or the proceeds
from the sale of, such securities, a statement to that effect
should be included in response to this item and, if such
interest relates to more than five percent of the class, such
person should be identified. A listing of the shareholders of
an investment company registered under the Investment Company
Act of 1940 or the beneficiaries of employee benefit plan,
pension fund or endowment fund is not required.
Clients of reporting person have such a right. None of whom
have such interest relative to greater than five percent of class.
Item 7. Identification and C1assification of the Subsidiary
Which Acquired the Security Being Reported on by the Parent
Holding Company
If a parent holding company has filed this schedule, pursuant to
Rule 13d-1(b)(ii)(G), so indicate under Item 3(g) and attach an
exhibit stating the identity and the Item 3 classification of
the relevant subsidiary. If a parent holding company has filed
this schedule pursuant to Rule 13d-l(c), attach an exhibit
stating the identification of the relevant subsidiary.
Not Applicable.
Item 8. Identification and C1assification of Members of the
Group
If a group has filed this schedule pursuant to Rule 13d-
1(b)(ii)(H), so indicate under Item 3(h) and attach an exhibit
stating the identity and Item 3 classification of each member of
the group. If a group has filed this schedule pursuant to Rule
13d-l(c), attach an exhibit stating the identity of each member
of the group.
Not Applicable.
Item 9. Notice of Dissolution of Group
Notice of dissolution of a group may be furnished as an exhibit
stating the date of the dissolution and that all further filings
with respect to transactions in the security reported on will be
filed, if required, by members of the group, in their individual
capacity. See Item 5.
Not Applicable.
Item 10. Certification
The following certification shall be included if the statement
is filed pursuant to Rule 13d-l(b):
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.
/s/Joan M. Smith
Signature
Date: February 5, 1997
Joan M. Smith
Controller
Name/Title
