CALPINE CORP
SC 13G, 1997-02-13
COGENERATION SERVICES & SMALL POWER PRODUCERS
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               SECURITIES AND EXCHANGE COMMISSION
                     Washington, D.C.  20549
                                
                          Schedule 13G
                                
            Under the Securities Exchange Act of 1934
                       (Amendment No. -)*
                                
                       Calpine Corporation
          ____________________________________________
                        (Name of Issuer)
                                
                          Common Stock
          ____________________________________________
                 (Title of Class of Securities)
                                
                            13134710
                    _________________________
                         (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  5  percent  of  the  class  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 the 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).

                (Continued on following page(s))
                        Page 1 of 5 Pages
         CUSIP No. 13134710  13G       Page 2 of 5 Pages

1.   NAME OF REPORTING PERSON
     S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
     State Street Research & Management Company
     #13-31424135
_________________________________________________________________
_____________
2.   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
                                                       (a)  [  ]
                                                       (b)  [  ]
_________________________________________________________________
_____________
3.   SEC USE ONLY


_________________________________________________________________
_____________
4.   CITIZENSHIP OR PLACE OF ORGANIZATION
      Reporting Person is a corporation organized under  Delaware
laws.  Principal office of    Reporting Person is in Boston, MA.
_________________________________________________________________
_____________
                         5.   SOLE VOTING POWER
                                        1,124,300
     NUMBER OF
        SHARES           6.   SHARED VOTING POWER
         BENEFICIALLY                            -0-
      OWNED BY EACH
     REPORTING           7.   SOLE DISPOSITIVE POWER
         PERSON WITH                         1,124,300

                         8.   SHARED DISPOSITIVE POWER
                                            -0-
_________________________________________________________________
_____________
9.    AGGREGATE  AMOUNT  BENEFICIALLY  OWNED  BY  EACH  REPORTING
PERSON
                                        1,124,300
_________________________________________________________________
_____________
10.   CHECK  BOX IF AGGREGATE AMOUNT IN ROW (9) EXCLUDES  CERTAIN
SHARES*
_________________________________________________________________
_____________
11.  PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
                                        6.23%
_________________________________________________________________
_____________
12.  TYPE OF REPORTING PERSON*
          Investment adviser

          *SEE INSTRUCTIONS BEFORE FILLING OUT
                                
                                
                                
                                
                               -2-
                                
SCHEDULE G

     Item 1(a).     Name of Issuer
               Calpine Corporation

     Item 1(b).     Address of Issuer's Principal Office
               50 West San Fernando St.
               San Jose, CA  95113


     Item 2(a).     Name of Person Filing
               State Street Research & Management Company

     Item 2(b).     Address of Principal Business Office
               One Financial Center, 30th Floor
               Boston, MA  02111-2690

     Item 2(c).     Citizenship
                Reporting Person is a corporation organized under
Delaware  laws.                     Principal office of Reporting
Person is Boston, MA

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

     Item 2(e).     CUSIP Number
               13134710

      Item 3.        If this statement is filed pursuant to Rules
13d-1(b),  or 13d-2(b), check                 whether the  person
filing is a:

           (a)  [ ]  Broker or dealer registered under Section 15
of the Act
          (b)  [ ]  Bank as defined in Section 3(a)(6) of the Act
           (c)   [ ]  Insurance Company  registered under Section
3(a)(19) of the Act
          (d)  [ ]  Investment company registered under Section 8
of the Investment                            Company Act
           (e)   [x]  Investment Adviser registered under Section
203 of the Investment                        Advisers Act of 1940
           (f)  [ ]  Employee Benefit Plan, Pension Fund which is
subject   to  the                           provisions   of   the
Employee      Retirement     Income     Security      Act      of
1974 or Endowment Fund:  see Section 240.13d-1(b)(1)(ii)(F)
           (g)   [ ]  Parent Holding Company, in accordance  with
Section  240.13d-                        1(b)(ii)(G)  (Note:  See
Item 7)
           (h)   [  ]  Group, in accordance with Section 240.13d-
1(b)(1)(ii)(H)
                                
                                
                                
                                
                               -3-
                                
                                
SCHEDULE G

     Item 4.        Ownership

                If the percent of the class owned, as of December
31 of the year covered             by the statement, or as of the
last   day   of   any   month  described  in  Rule   13d-1(b)(2),
if   applicable,  exceeds  5  percent,  provide   the   following
information as of that date             and identify those shares
which there is a right to acquire.

     (a)  Amount beneficially owned:    1,124,300
     (b)  Percent of Class:        6.23%
     (c)  Number of shares as to which such person has:

          (i)  sole power to vote or to direct the vote:
                              1,124,300
          (ii) shared power to vote or to direct the vote:
                                 -0-
           (iii)      sole  power to dispose  or  to  direct  the
disposition of:          1,124,300
            (iv)   shared   power  to  dispose  or   direct   the
disposition of:             -0-

           State  Street Research & Management Company  disclaims
any  beneficial  interest             in  any  of  the  foregoing
securities.

     Item 5.        Ownership of Five Percent or Less of a Class.

                If  this  statement is being filed to report  the
fact  that  as of the date hereof                   the reporting
person  has  ceased  to  be the beneficial  owner  of  more  than
five percent of the class of securities, check the following [ ].

     Item 6.        Ownership of More than Five Percent on Behalf
of Another Person.

                If any other person is known to have the right to
receive  or  the power to                 direct the  receipt  of
dividends  from,  or  the  proceeds  from  the  sale   of,   such
securities,  a  statement to that effect should  be  included  in
response  to  this                   item and, if  such  interest
relates   to   more  than  five  percent  of  the   class,   such
person    should be identified.  A listing of the shareholders of
an   investment                  company  registered  under   the
Investment      Company     Act     of      1940      or      the
beneficiaries  of  an  employee benefit  plan,  pension  fund  or
endowment fund                     is not required.

                All foregoing shares are in fact owned by clients
of   State   Street  Research                      &   Management
Company.

                                
                                
                               -4-
                                
                                
SCHEDULE G

      Item  7.         Identification and Classification  of  the
Subsidiary Which Acquired the                     Security  Being
Reported on By the Parent Holding Company.

                If  a  parent  holding  company  has  filed  this
schedule, pursuant to Rule 13d-                   1(b)(ii)(G), so
indicate  under  Item  3(g) and attach  an  exhibit  stating  the
identity     and  the  Item  3  classification  of  the  relevant
subsidiary.  If a parent                     holding company  has
filed   this   schedule   pursuant  to  Rule   13d-1(c),   attach
an exhibit stating the identification of the relevant subsidiary.

               Inapplicable

      Item 8.        Identification and Classification of Members
of the Group.

                If  a  group has filed this schedule pursuant  to
Rule  13d-1(b)(ii)(H),  so                    indicate under Item
3(b)  and  attach  an  exhibit  stating  the  identity  and  Item
3  classification of each member of the group.  If  a  group  has
filed this                    schedule pursuant to Rule 13d-1(c),
attach  an  exhibit  stating the  identity  of               each
member of the group.

               Inapplicable

     Item 9.        Notice of Dissolution of Group

               Inapplicable

     Item 10.  Certification

               By signing below I certify that, to the best of my
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 purposes or effect.

     Signature

     After reasonable inquire 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 12, 1997

                    Signature:     ________________________

                        Name/Title:     Mark Passacantando
                               Director of Compliance

                               -5-



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