WACHOVIA CORP/ NC
SC 13G/A, 1998-02-17
NATIONAL COMMERCIAL BANKS
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<PAGE>   1

                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                  SCHEDULE 13G

                   Under the Securities Exchange Act of 1934
                                Amendment No. 2

                       STEEL WEST VIRGINIA, INCORPORATED

                                     COMMON

                                CUSIP: 858154107

                               December 31, 1997




     Check the following box if a fee is being paid with this statement _

<TABLE>
  <S>                                                           <C>
   (1)    Names of Reporting Persons S.S. or I.R.S.             Wachovia Corporation
  Identification Nos. of Above Persons                          56-1473727
   (2)    Check the Appropriate Box if a Member of a Group      (a)N/A
  (See Instructions)
                                                                (b)N/A
   (3)    SEC Use Only
   (4)    Citizenship or Place of Organization                  North Carolina
  Number of Shares Beneficially Owned by Each Reporting
  Person With
                   (5)    Sole Voting Power                                         345,000
                   (6)    Shared Voting Power                                             0
                   (7)    Sole Dispositive Power                                    345,000
                   (8)    Shared Dispositive Power                                        0

   (9)    Aggregate Amount Beneficially Owned by Each                               345,000
  Reporting Person
          (10)  Check if Aggregate Amount in Row 9 Excludes
          Certain Shares (See Instructions)
  (11)    Percent of Class Represented by Amount in Row 9                  5.8%
  (12)    Type of Reporting Person
          (See Instructions)                                                HC
</TABLE>





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ITEM 7           IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARY WHICH
                 ACQUIRED THE SECURITY BEING REPORTED ON BY THE PARENT HOLDING
                 COMPANY.

                 The securities to which this report relates are held by
                 Wachovia Bank, NA (IRS Identification number 56-0927594) as
                 trustee.

                 This filing should not be construed as an admission that the
                 trustee or its parent, Wachovia Corporation, are, for the
                 purposes of Section 13(d) or 13(g) of the Act, beneficial
                 owners of any securities covered by this statement.

ITEM 10          CERTIFICATION:

                 BY SIGNING BELOW, I CERTIFY THAT, TO THE BEST OF MY KNOWLEDGE
                 AND BELIEF, THE SECURITIES REFERRED TO ABOVE 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.

     DATE:   February 11, 1998

     FOR:    Wachovia Corporation


     BY:     /s/ Ricky B. Nicks
             ----------------------------------------
             Attorney-in-Fact
             Ricky B. Nicks, Executive Vice President
             Wachovia Operational Services Corporation
             (Authorized by Wachovia Corporation under a limited power of
             attorney filed with the Schedule 13G for Moore Products, 
             Incorporated, CUSIP 615836103, filed by Wachovia Corporation on 
             February 11, 1998.)





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