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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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SCHEDULE 13G
(Rule 13d-102)
INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT
TO RULES 13d-1(b) (c), AND (d) AND AMENDMENTS THERETO FILED
PURSUANT TO RULE 13d-2(b)
(Amendment No. 1 )*
JPS Industries Inc.
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(Name of Issuer)
Common Stock
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(Title of Class Securities)
46624E405
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(CUSIP Number)
October 29, 1999
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(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this
schedule is filed:
X Rule 13d-1 (b)
_ Rule 13d-1 (c)
_ Rule 13d-1 (d)
*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 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)
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CUSIP NO. 46624E405 13G PAGE 2 OF 5 PAGES
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1 NAME OF REPORTING PERSON
S.S OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Merrill Lynch, Pierce, Fenner & Smith Incorporated
#13-5674085
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* Joint Filing
(a)
(b)
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3 SEC USE ONLY
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4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
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5 SOLE VOTING POWER
NUMBER OF None
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SHARES BENEFICIALLY 6 SHARED VOTING POWER
OWNED BY EACH
0
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7 SOLE DISPOSITIVE POWER
REPORTING PERSON WITH
None
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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 BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
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11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
0
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12 TYPE OF REPORTING PERSON*
BD, CO
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*SEE INSTRUCTION BEFORE FILLING OUT!
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SCHEDULE 13G
Item 1 (a) Name of Issuer:
JPS Industries Inc. (the "Company")
Item 1 (b) Address of Issuer's Principal Executive Offices:
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555 North Pleasantburg Drive
Suite 202
Greenville, SC 29607
Item 2 (a) Names of Person Filing:
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Merrill Lynch, Pierce, Fenner & Smith Incorporated
Item 2 (b) Address of Principal Business Office, or, if None,
Residence:
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Merrill Lynch, Pierce, Fenner & Smith Incorporated
World Financial Center
North Tower
250 Vesey Street
New York, New York 10281
Item 2 (c) Citizenship:
See Item 4 of Cover Pages
Item 2 (d) Title of Class of Securities:
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See Cover Page
Item 2 (e) CUSIP Number:
See Cover Page
Item 3
Merrill Lynch, Pierce, Fenner & Smith Incorporated ("MLPF&S")
is a broker-dealer registered under Section 15 of the Securities
Exchange Act of 1934.
Item 4 Ownership
(a) Amount Beneficially Owned:
See Item 9 of Cover Pages. Pursuant to ss. 240.13d-4, MLPF&S
(the "Reporting Person") disclaims beneficial ownership of the
securities of the Company referred to herein, and the filing of this
Schedule 13G shall not be construed as an admission that the Reporting
Person is, for the purposes of Section 13(d) or 13(g) of the Act, the
beneficial owner of any securities of the Company covered by this
statement, other than certain securities of the Company held in MLPF&S
proprietary accounts.
Page 3 of 5 Pages
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(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
See Item 5 of Cover Pages
(ii) shared power to vote or to direct the vote
See Item 6 of Cover Pages
(iii) sole power to dispose or to direct the
disposition of
See Item 7 of Cover Pages
(iv) shared power to dispose or to direct the
disposition of
See Item 8 of Cover Pages
Item 5 Ownership of Five Percent or Less of a Class.
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If this statement is being filed to report the fact that as
of the date hereof of 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
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Not Applicable
Item 7 Identification and Classification of the Subsidiary Which
Acquired the Security Being Reported on
by the Parent Company.
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Not Applicable
Item 8 Identification and Classification of Members of the Group.
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Not Applicable
Item 9 Notice of Dissolution of Group
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Not Applicable
Page 4 of 5 Pages
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Item 10 Certification
By signing below I certify that, to the best of my knowledge and
belief, the securities referred to above were acquired and are held in the
ordinary course of business and were not acquired and are not held for the
purpose of or with the effect of changing or influencing the control of the
issuer of the securities and were not acquired and are not held in connection
with or as a participant in any transaction having that purpose or effect.
Signature.
After reasonable inquiry and to the best of my knowledge and belief,
the undersigned certifies that the information set forth in this statement is
true, complete and correct.
Date: November 12, 1999
Merrill Lynch, Pierce, Fenner & Smith Incorporated
By: /s/ Andrea Lowenthal
Name: Andrea Lowenthal*
Title: Attorney-In-Fact
*Signed pursuant to a Power of Attorney, dated November 17, 1995, included as
Exhibit A to Schedule 13G filed with the Securities and Exchange Commission by
Merrill Lynch, Pierce, Fenner & Smith, Inc. on February 12, 1999 with respect to
International Paper Co. and incorporated herein by reference.
Page 5 of 5 Pages
