U.S. SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 12b-25 NOTIFICATION OF LATE FILING
SEC FILE NUMBER: 33-30123-A
CUSPID NUMBER: 370477101
[x] FORM 10-QSB
For the Quarter Ended: March 31, 1997
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Nothing in this form shall be construed to imply that the
Commission has verified any information herein.
_____________________________________________________________________
If the notification relates to a portion of the filing checked
above, identify the Item (s) to which the notification relates:
Part I--Registrant Information
GENERAL PARCEL SERVICE, INC.
8923 Western Way, Suite 22,
Jacksonville, FL 32256
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Part II--Rules 12b-25 (b) and (c)
If the subject report could not be filed without unreasonable
effort or expense and the registrant seeks relief pursuant to
Rule 12b-25(b), the following should be completed. (Check Box if
Appropriate)
[X] (a) The reasons described in reasonable detail in Part III
of this form could not be eliminated without unreasonable
effort or expense;
[X] (b) The subject quarterly report on Form 10-QSB or portion
thereof will be filed on or before the fifth calendar day following
the prescribed due date; and
[ ] (c) The accountant's statement or other exhibit required
by Rule 12b-25(c) has been attached, if applicable.
Part III--Narrative
State below in reasonable detail the reasons why Form 10-QSB
could not be filed within the prescribed period.
The 10-QSB for the three months ended March 31, 1997 for General
Parcel Service, Inc. ("the Company") could not be filed within
the prescribed time limit because of the need to account
separately for the Company's operations in North and South
Carolina which have been discontinued. To account for the
discontinued operations in accordance with current accounting
pronouncements required changes in the Registrant's accounting
system. Implementing these changes required significant
additional time to generate the financial information to
complete Form 10-QSB.
Part IV--Other Information
(1) Name and telephone number of person to contact in regard to
this notification.
Wayne N. Nellums (904) 363-0089
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(Name) (Area Code) (Telephone Number)
(2) Have all other periodic reports required under section 13 or
15(d) of the Securities Exchange Act of 1934 or section 30 of
the Investment Company Act of 1940 during the preceding 12
months or for such shorter period that the registrant was
required to file such report(s) been filed?
If the answer is no, identify report(s).
[X] Yes [ ] No
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(3) Is it anticipated that any significant change in results of
operations from the corresponding period for the last fiscal
year will be reflected by the earnings statements to be included
in the subject report or portion thereof?
[X] Yes [ ] No
If so: attach an explanation of the anticipated change, both
narratively and quantitatively, and, if appropriate, state the
reasons why a reasonable estimate of the results cannot be made.
See Exhibit A
GENERAL PARCEL SERVICE, INC.
(Name of Registrant as specified in charter)
has caused this notification to be signed on its behalf by the
undersigned thereunto duly authorized.
Date: May 16, 1997
By: /s/ Wayne N. Nellums
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Wayne N. Nellums, Vice President,
Chief Financial Officer and Secretary
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Exhibit A
Results of operations for quarter ended March 31, 1997 differed
significantly from those of the quarter ended March 31, 1996.
The net loss from operations for the quarter ended March 31,
1997 approximated $2,500,000 compared to a net loss of $474,316 for the
quarter ended March 31, 1996. The increase in the loss for the
1997 first quarter resulted from decreased freight volume in
Florida and Georgia, losses in North Carolina and South Carolina
terminals opened during the second and third quarters of 1996,
and provisions for losses associated with closing the parcel
delivery operations in North Carolina and South Carolina.
