GIBSON GREETINGS INC
SC 13G, 1996-01-29
GREETING CARDS
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<PAGE>
 
                                                  ------------------------------
                                                           OMB APPROVAL        
                                                  OMB Number     3235-0145     
                                                  Expires:  December 3l, 1997  
                                                  Estimated average burden     
                                                  hours per response . . . 14.90
                                                  ------------------------------

                                 UNITED STATES
                      SECURITIES AND EXCHANGE COMMISSION
                            Washington, D.C. 20549


                                  SCHEDULE 13G


                   Under the Securities Exchange Act of 1934
                               (Amendment No. 1)*
 
                            Gibson Greetings, Inc.
- --------------------------------------------------------------------------------
                               (Name of Issuer)

                                 Common Stock
- --------------------------------------------------------------------------------
                        (Title of Class of Securities)

                                   374827103
- --------------------------------------------------------------------------------
                                (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).

SEC 1745                    PAGE  1  OF  11  PAGES
<PAGE>
 
- ---------------------------                       ------------------------------
CUSIP No. 374827103                   13G              Page  2  of  11  Pages
- ---------------------------                       ------------------------------
- --------------------------------------------------------------------------------
  1   NAME OF REPORTING PERSON
      S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
 
      John Hancock Mutual Life Insurance Company
      I.R.S. No. 04-1414660
- --------------------------------------------------------------------------------
  2   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*              (a)  [_] 
                                                                     (b)  [_]
      N/A

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

- --------------------------------------------------------------------------------
  4   CITIZENSHIP OR PLACE OF ORGANIZATION
 
      Commonwealth of Massachusetts

- --------------------------------------------------------------------------------
                     5  SOLE VOTING POWER
         Number of
          Shares        -0-
                    -----------------------------------------------------
       Beneficially  6  SHARED VOTING POWER
         Owned by
           Each         -0-
                    -----------------------------------------------------
         Reporting   7  SOLE DISPOSITIVE POWER
          Person
           With         -0-
                    -----------------------------------------------------
                     8  SHARED DISPOSITIVE POWER
 
                        -0-
- --------------------------------------------------------------------------------
  9   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
 
      None, except through its indirect, wholly-owned subsidiaries, NM Capital
      Management, Inc. and John Hancock Advisers, Inc.
- --------------------------------------------------------------------------------
 10   CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
 
      N/A
- --------------------------------------------------------------------------------
 11   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
 
      See line 9, above.
- --------------------------------------------------------------------------------
 12   TYPE OF REPORTING PERSON*
 
      IC, BD, IA, HC
- --------------------------------------------------------------------------------

                     *SEE INSTRUCTIONS BEFORE FILLING OUT!
                             PAGE  2  OF  11  PAGES
<PAGE>
 
- ---------------------------                       ------------------------------
CUSIP No. 374827103                   13G              Page  3  of  11  Pages
- ---------------------------                       ------------------------------
- --------------------------------------------------------------------------------
  1   NAME OF REPORTING PERSON
      S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
 
      John Hancock Subsidiaries, Inc.
      I.R.S. No. 04-2687223
- --------------------------------------------------------------------------------
  2   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*              (a)  [_] 
                                                                     (b)  [_]
      
      N/A

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

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

- --------------------------------------------------------------------------------
                     5  SOLE VOTING POWER
         Number of
          Shares        -0-
                    ------------------------------------------------------------
       Beneficially  6  SHARED VOTING POWER
         Owned by
           Each         -0-
                    ------------------------------------------------------------
         Reporting   7  SOLE DISPOSITIVE POWER
          Person
           With         -0-
                    ------------------------------------------------------------
                     8  SHARED DISPOSITIVE POWER
 
                        -0-
- --------------------------------------------------------------------------------
  9   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
 
      None, except through its indirect, wholly-owned subsidiaries, NM Capital
      Management, Inc. and John Hancock Advisers, Inc.
- --------------------------------------------------------------------------------
 10   CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
 
      N/A

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

      See line 9, above. 

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

- --------------------------------------------------------------------------------
                     *SEE INSTRUCTIONS BEFORE FILLING OUT!
                             PAGE  3  OF  11  PAGES
<PAGE>
 
- ---------------------------                       ------------------------------
CUSIP No. 374827103                   13G              Page  4  of  11  Pages
- ---------------------------                       ------------------------------
- --------------------------------------------------------------------------------
  1   NAME OF REPORTING PERSON
      S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
 
      John Hancock Asset Management
      I.R.S. No.   04-3279774
- --------------------------------------------------------------------------------
  2   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*              (a)  [_] 
                                                                     (b)  [_]

      N/A
- --------------------------------------------------------------------------------
  3   SEC USE ONLY


- --------------------------------------------------------------------------------
  4   CITIZENSHIP OR PLACE OF ORGANIZATION
 
      Commonwealth of Massachusetts
- --------------------------------------------------------------------------------
                     5   SOLE VOTING POWER
         Number of
          Shares         -0-
                    ------------------------------------------------------------
       Beneficially  6  SHARED VOTING POWER
         Owned by
           Each          -0-
                    ------------------------------------------------------------
         Reporting   7  SOLE DISPOSITIVE POWER
          Person
           With          -0-
                    ------------------------------------------------------------
                     8  SHARED DISPOSITIVE POWER
 
                         -0-
- --------------------------------------------------------------------------------
  9   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
 
      None, except through its indirect, wholly-owned subsidiaries, NM Capital
      Management, Inc. and John Hancock Advisers, Inc.
- --------------------------------------------------------------------------------
 10   CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
 
      N/A

- --------------------------------------------------------------------------------
  11  PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
 
      See line 9, above.

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

- --------------------------------------------------------------------------------
                     *SEE INSTRUCTIONS BEFORE FILLING OUT!
                             PAGE  4  OF  11  PAGES
<PAGE>
 
- ---------------------------                       ------------------------------
CUSIP No. 374827103                   13G              Page  5  of  11  Pages
- ---------------------------                       ------------------------------
- --------------------------------------------------------------------------------
  1   NAME OF REPORTING PERSON
      S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
 
      The Berkeley Financial Group
      I.R.S. No. 04-3145626
- --------------------------------------------------------------------------------
  2   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*              (a)  [_] 
                                                                     (b)  [_]

      N/A
- --------------------------------------------------------------------------------
  3   SEC USE ONLY

- --------------------------------------------------------------------------------
  4   CITIZENSHIP OR PLACE OF ORGANIZATION
 
      Commonwealth of Massachusetts

- --------------------------------------------------------------------------------
                     5  SOLE VOTING POWER
         Number of
          Shares        -0-
                    ------------------------------------------------------------
       Beneficially  6  SHARED VOTING POWER
         Owned by
           Each         -0-
                    ------------------------------------------------------------
         Reporting   7  SOLE DISPOSITIVE POWER
          Person
           With         -0-
                    ------------------------------------------------------------
                     8  SHARED DISPOSITIVE POWER
 
                        -0-
- --------------------------------------------------------------------------------
  9   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
 
      1,414,084: 1,363,184 through its direct, wholly-owned subsidiary, NM 
      Capital Management, Inc. and 50,900 through its direct, wholly-owned
      subsidiary, John Hancock Advisers, Inc.
- --------------------------------------------------------------------------------
 10   CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
 
      N/A

- --------------------------------------------------------------------------------
 11   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
 
      8.7%

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

- --------------------------------------------------------------------------------
                     *SEE INSTRUCTIONS BEFORE FILLING OUT!
                             PAGE  5  OF  11  PAGES
<PAGE>
 
- ---------------------------                       ------------------------------
CUSIP No. 374827103                   13G              Page  6  of  11  Pages
- ---------------------------                       ------------------------------
- --------------------------------------------------------------------------------
  1   NAME OF REPORTING PERSON
      S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
 
      NM Capital Management, Inc.
      I.R.S. No. 85-0268885
- --------------------------------------------------------------------------------
  2   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*              (a)  [_] 
                                                                     (b)  [_]

      N/A
- --------------------------------------------------------------------------------
  3   SEC USE ONLY

- --------------------------------------------------------------------------------
  4   CITIZENSHIP OR PLACE OF ORGANIZATION
 
      New Mexico

- --------------------------------------------------------------------------------
                     5  SOLE VOTING POWER
         Number of  
          Shares        654,274 
                    ------------------------------------------------------------
       Beneficially  6  SHARED VOTING POWER
         Owned by
           Each         -0-
                    ------------------------------------------------------------
         Reporting   7  SOLE DISPOSITIVE POWER
          Person
           With         1,363,184  
                    ------------------------------------------------------------
                     8  SHARED DISPOSITIVE POWER
 
 
                        -0-
- --------------------------------------------------------------------------------
  9   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
 
 
      1,363,184
- --------------------------------------------------------------------------------
 10   CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
 
      N/A

- --------------------------------------------------------------------------------
 11   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
 
 
      8.7%
- --------------------------------------------------------------------------------
 12   TYPE OF REPORTING PERSON*
 
      IA

- --------------------------------------------------------------------------------
                     *SEE INSTRUCTIONS BEFORE FILLING OUT!
                             PAGE  6  OF  11  PAGES
<PAGE>
 
     The original statement shall be signed by each person on whose behalf the
statement is filed or his authorized representative.  If the statement is signed
on behalf of a person by his authorized representative other than an executive
officer or general partner of the filing person, evidence of the
representative's authority to sign on behalf of such person shall be filed with
the statement, provided, however, that a power of attorney for this purpose
which is already on file with the Commission may be incorporated by reference.
The name and any tittle of each person who signs the statement shall be typed or
printed beneath his signature.

Note:  Six copies of this statement, including all exhibits, should be filed
with the Commission.

     Attention:  Intentional misstatements or omissions of fact constitute
Federal criminal violations (See 18 U.S.C. 1001)


     Item 1(a)  Name of Issuer:
                -------------- 
                Gibson Greetings, Inc.

     Item 1(b)  Address of Issuer's Principal Executive Offices:
                ----------------------------------------------- 
                2100 Section Road
                Cincinatti, OH  45237

     Item 2(a)  Name of Person Filing:
                --------------------- 
                This filing is made on behalf of John Hancock Mutual Life
                Insurance Company ("JHMLICO"), JHMLICO's direct, wholly-owned
                subsidiary, John Hancock Subsidiaries, Inc. ("JHSI"), JHSI's
                direct, wholly-owned subsidiary, John Hancock Asset Management
                ("JHAM"), JHAM wholly-owned subsidiary, The Berkeley Financial
                Group ("TBFG") and TBFG's direct, wholly-owned subsidiary, NM
                Capital Management, Inc. ("NM").

     Item 2(b)  Address of the Principal Offices:
                -------------------------------- 
                The principal business offices of JHMLICO, JHSI and JHAM are
                located at John Hancock Place, P.O. Box 111, Boston, MA 02177.
                The principal business offices of TBFG is located at 101
                Huntington Avenue, Boston, Massachusetts 02199. The principal
                business office of NM is 6501 Americas Parkway, Suite 950,
                Albuquerque, NM 87110-5372.

     Item 2(c)  Citizenship: 
                -----------
                JHMLICO, JHAM and TBFG were organized and exist under the laws
                of the Commonwealth of Massachusetts. JHSI was organized and
                exists under the laws of the State of Delaware. NM was organized
                and exists under the laws of the State of New Mexico.

     Item 2(d)  Title of Class of Securities:
                ---------------------------- 
                Common Stock.

     Item 2(e)  CUSIP Number:
                ------------ 
                374827103

     Item 3     If the Statement is being filed pursuant to Rule 13d-1(b), or
                -------------------------------------------------------------
                13d-2(b), check whether the person filing is a:
                ----------------------------------------------

                JHMLICO:  (a) (X)  Broker or Dealer registered under (S)15 of 
                                   the Act.

                          (c) (X)  Insurance Company as defined in (S)3(a)(19)
                                   of the Act.

                          (e) (X)  Investment Adviser registered under (S)203 of
                                   the Investment Advisers Act of 1940.


                            PAGE  7  OF  11  PAGES

<PAGE>
 
                          (g) (X)  Parent Holding Company, in accordance with
                                   (S)240.13d-1(b)(ii)(G).
 
                JHSI      (g) (X)  Parent Holding Company, in accordance with
                                   (S)240.13d-1(b)(ii)(G).
 
                JHAM      (g) (X)  Parent Holding Company, in accordance with
                                   (S)240.13d-1(b)(ii)(G).
 
                TBFG      (g) (X)  Parent Holding Company, in accordance with
                                   (S)240.13d-1(b)(ii)(G).
 
                NM        (e) (X)  Investment Adviser registered under (S)203 
                                   of the Investment Advisers Act of 1940.
 
     Item 4     Ownership:
                ---------
 
                (a)  Amount Beneficially Owned: NM beneficially owns 1,363,184
                     -------------------------
                     shares of Common Stock in various advisory accounts. In
                     addition to the shares owned by NM, John Hancock Advisers,
                     Inc. ("JHA"), an Investment Adviser registered under (S)203
                     of the Investment Advisers Act of 1940 and a direct, wholly
                     -owned subsidiary of TBFG, beneficially owns 50,900 shares 
                     of Common Stock.  Through their parent-subsidiary 
                     relationship to NM and JHA, JHMLICO, JHSI, JHAM and TBFG
                     have indirect, beneficial ownership of these same shares.

                     The JHA shares are held by the John Hancock Special Value
                     Fund, an open-end diversified management company registered
                     under (S)8 of the Investment Company Act. Under an Advisory
                     Agreement dated October 1, 1993, JHA has beneficial
                     ownership of the 50,900 shares held in the fund.

                (b)  Percent of Class:
                     ----------------
                     TBFG - 8.7%
                     NM   - 8.4%
                     JHA     .3%
 
                (c)  (i)    sole power to vote or to direct the vote:
                            NM           - 654,274 shares           
                            JHA          -  50,900 shares           
                                                                    
                     (ii)   shared power to vote or to direct the   
                            vote:  -0-                               

                     (iii)  sole power to dispose or to direct the disposition
                            of:
                            NM           - 1,363,184 shares
                            JHA          -    50,900 shares

                     (iv)   shared power to dispose or to direct the disposition
                            of:   -0-

     Item 5     Ownership of Five Percent or Less of a Class:
                -------------------------------------------- 
                Not applicable.

     Item 6     Ownership of More than Five Percent on Behalf of Another Person:
                --------------------------------------------------------------- 
                See Item 4(a).


                             PAGE  8  OF  11  PAGES
<PAGE>
 
     Item 7     Identification and Classification of the Subsidiary which
                ---------------------------------------------------------
                Acquired the Security Being Reported on by the Parent Holding 
                -------------------------------------------------------------
                Company: 
                -------  
                See Items 2(a), 3 and 4.

     Item 8     Identification and Classification of Members of the Group:
                --------------------------------------------------------- 
                Not applicable.

     Item 9     Notice of Dissolution of a Group:
                -------------------------------- 
                Not applicable.

     Item 10    Certification:
                ------------- 
                By signing below the undersigned certifies that, to the best of
                its 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 purpose or effect.



                             PAGE  9  OF  11  PAGES
<PAGE>
 
                                   SIGNATURE

     After reasonable inquiry and to the best of its knowledge and belief, each
of the undersigned certifies that the information set forth in this statement is
true, complete and correct.
 


                                      JOHN HANCOCK MUTUAL LIFE INSURANCE COMPANY

                                      By: /s/ John T. Farady
                                         ---------------------------------------
                                      Name:   John T. Farady
                                           -------------------------------------
Dated: January 24, 1996               Title:  Senior Vice President & Treasurer
      ------------------                    ------------------------------------



                                      JOHN HANCOCK SUBSIDIARIES, INC.

                                      By: /s/ John T. Farady
                                         ---------------------------------------
                                      Name:   John T. Farady
                                           -------------------------------------
Dated: January 24, 1996               Title:  Treasurer
      ------------------                    ------------------------------------



                                      JOHN HANCOCK ASSET MANAGEMENT 
 
                                      By: /s/ James H. Young
                                         ---------------------------------------
                                      Name:   James H. Young
                                           -------------------------------------
Dated: January 23, 1996               Title:  Secretary
      ------------------                    ------------------------------------



                                      THE BERKELEY FINANCIAL GROUP

                                      By: /s/ Susan S. Newton
                                         ---------------------------------------
                                      Name:   Susan S. Newton
                                           -------------------------------------
Dated: January 24, 1996               Title:  Vice President
      ------------------                    ------------------------------------



                                      NM CAPITAL MANAGEMENT, INC.

                                      By: /s/ Susan S. Newton
                                         ---------------------------------------
                                      Name:   Susan S. Newton
                                           -------------------------------------
Dated: January 24, 1996               Title:  Assistant Secretary
      ------------------                    ------------------------------------



                            PAGE  10  OF  11  PAGES
<PAGE>
 
                                                           EXHIBIT A

                             JOINT FILING AGREEMENT
                             ----------------------


     John Hancock Mutual Life Insurance Company, John Hancock Subsidiaries,
Inc., The Berkeley Financial Group and NM Capital Management, Inc. agree that
the Schedule 13G Amendment No. 1, to which this Agreement is attached, relating
to the Common Stock of Gibson Greetings, Inc., is filed on behalf of each of
them.



                                      JOHN HANCOCK MUTUAL LIFE INSURANCE COMPANY

                                      By: /s/ John T. Farady
                                         ---------------------------------------
                                      Name:   John T. Farady
                                           -------------------------------------
Dated: January 24, 1996               Title:  Senior Vice President & Treasurer
      ------------------                    ------------------------------------



                                      JOHN HANCOCK SUBSIDIARIES, INC.

                                      By: /s/ John T. Farady
                                         ---------------------------------------
                                      Name:   John T. Farady
                                           -------------------------------------
Dated: January 24, 1996               Title:  Treasurer
      ------------------                    ------------------------------------



                                      JOHN HANCOCK ASSET MANAGEMENT 
 
                                      By: /s/ James H. Young
                                         ---------------------------------------
                                      Name:   James H. Young
                                           -------------------------------------
Dated: January 23, 1996               Title:  Secretary
      ------------------                    ------------------------------------



                                      THE BERKELEY FINANCIAL GROUP

                                      By: /s/ Susan S. Newton
                                         ---------------------------------------
                                      Name:   Susan S. Newton
                                           -------------------------------------
Dated: January 24, 1996               Title:  Vice President
      ------------------                    ------------------------------------



                                      NM CAPITAL MANAGEMENT, INC.

                                      By: /s/ Susan S. Newton
                                         ---------------------------------------
                                      Name:   Susan S. Newton
                                           -------------------------------------
Dated: January 24, 1996               Title:  Assistant Secretary
      ------------------                    ------------------------------------

                            PAGE  11  OF  11  PAGES


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