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UNITED STATES SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 3
INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES
1. Name and Address of Reporting Person
Talton R. Embry
c/o Magten Asset Management Corp.
35 E. 21st St.
New York, New York
2. Date of Event Requiring Statement (Month/Day/Year)
December 15, 1997
3. IRS Number of Reporting Person
(Voluntary)
4. Issuer Name and Ticker or Trading Symbol
JPS Textile Group, Inc.
JPST
5. Relationship of Reporting Person(s) to Issuer (Check all
applicable)
( ) Director ( ) 10% Owner ( ) Officer (give title
below) (X) Other (1)
(specify below)
6. If Amendment, Date of Original (Month/Day/Year)
7. Individual or Joint/Group Filing (Check Applicable Line)
(X) Form filed by One Reporting Person
( ) Form filed by More than One Reporting Person
Table I -- Non-Derivative Securities Beneficially Owned
1. Title of Security 2. Amount of 3. Ownership 4. Nature of Indirect
Securities Form: Beneficial Ownership
Beneficially Direct(D) or
Owned Indirect(I)
Common Stock 1,905,435 (2) (I) Chairman of Investment
Manager or General
Partner
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Table II -- Derivative Securities Beneficially Owned
<TABLE>
<S> <C> <C> <C> <C> <C>
1.Title of 2.Date Exer- 3.Title and Amount 4. Conver- 5. Ownership 6. Nature of
Derivative cisable and of Securities sion or Form of Indirect
Security Expiration Underlying Exercise Derivative Beneficial
Date Derivative Security Price of Security:
Ownership
(Month/Day/ --------------- Deri- Direct(D) or
Year) Title Amount or vative Indirect (I)
--------------- Number of Security
Date Expira- Shares
Exer- tion
cisable Date
</TABLE>
Explanation of Responses:
(1) The Reporting Person is Chairman and Chief Investment Officer
of Magten Asset Management Corp. ("Magten"), an investment
adviser registered under Section 203 of the Investment Advisers
Act of 1940 that has voting power and investment power with
respect to securities in its clients' accounts. An employee of
Magten is a member of the board of directors of the issuer. The
Reporting Person disclaims any obligation to file this report,
and this report shall not be deemed an admission that the
Reporting Person is subject to Section 16 with respect either to
the issuer or such securities.
(2) The amount of securities shown in column 2 of Table 1 of this
Form 3 is owned beneficially by discretionary accounts managed by
Magten. The Reporting Person disclaims any beneficial ownership
of any such securities reported herein for purposes of Section 16
or for any other purpose. Nonetheless, the entire amount of
securities held by the accounts is reported herein.
SIGNATURE OF REPORTING PERSON
/s/ Talton R. Embry
___________________________
Talton R. Embry
DATE
February 26, 1998
2
01651001.AH9
