JEFFERSON SMURFIT CORP /DE/
SC 13G/A, 1996-02-13
PAPERBOARD MILLS
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                                  UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549


                                  SCHEDULE 13G
                   Under the Securities Exchange Act of 1934*
                                (Amendment No. 1)



                          JEFFERSON SMURFIT CORPORATION
- --------------------------------------------------------------------------------
                                (Name of Issuer)

                     Common Stock, par value $0.01 per share
- --------------------------------------------------------------------------------
                         (Title of Class of Securities)
                                    
                                   475086104
                      -------------------------------------
                                 (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  five  percent  of the  class of
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 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
disclosure 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.)

<PAGE>

<TABLE>

<CAPTION>
                                                                13G
- ------------------------------------------------------------------------------------------------------------------------------------
CUSIP No. 475086104                                                                                             Page 2 of 9 Pages
          ---------                                                           
- ------------------------------------------------------------------------------------------------------------------------------------

- --------- --------------------------------------------------------------------------------------------------------------------------
<S>       <C>                                                                                      <C>
     1    NAME OF REPORTING PERSON
          S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON

                                                   Smurfit Packaging Corporation
- --------- --------------------------------------------------------------------------------------------------------------------------
- --------- --------------------------------------------------------------------------------------------------------------------------
     2    CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
                                                                                                  (a)  |_|
                                                                                                  (b)  |X|
- --------- --------------------------------------------------------------------------------------------------------------------------
- --------- --------------------------------------------------------------------------------------------------------------------------
     3    SEC USE ONLY

- --------- --------------------------------------------------------------------------------------------------------------------------
- --------- --------------------------------------------------------------------------------------------------------------------------
     4    CITIZENSHIP OR PLACE OF ORGANIZATION

                                                         State of Delaware
- --------- --------------------------------------------------------------------------------------------------------------------------
                 --------- ---------------------------------------------------------------------------------------------------------
                      5    SOLE VOTING POWER
 NUMBER OF
                                                                 -0-
   SHARES        ---------  --------------------------------------------------------------------------------------------------------
                 ---------  --------------------------------------------------------------------------------------------------------
BENEFICIALLY          6    SHARED VOTING POWER

  OWNED BY                                               36,800,000 shares
                 --------- ---------------------------------------------------------------------------------------------------------
    EACH         --------- ---------------------------------------------------------------------------------------------------------
                      7    SOLE DISPOSITIVE POWER
  REPORTING          
                                                                 -0-
   PERSON        --------- ---------------------------------------------------------------------------------------------------------
                 --------- ---------------------------------------------------------------------------------------------------------
    WITH              8    SHARED DISPOSITIVE POWER
     
                                                         36,800,000 shares
- --------- --------------------------------------------------------------------------------------------------------------------------
- --------- --------------------------------------------------------------------------------------------------------------------------
     9    AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

                                                         36,800,000 shares
- --------- --------------------------------------------------------------------------------------------------------------------------
- --------- --------------------------------------------------------------------------------------------------------------------------
    10    CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*

                                                                |_|
- --------- --------------------------------------------------------------------------------------------------------------------------
- --------- --------------------------------------------------------------------------------------------------------------------------
    11    PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9

                                                              33.16%
- --------- --------------------------------------------------------------------------------------------------------------------------
- --------- --------------------------------------------------------------------------------------------------------------------------
    12    TYPE OF REPORTING PERSON*  
                                                                CO
- --------- --------------------------------------------------------------------------------------------------------------------------
- --------- --------------------------------------------------------------------------------------------------------------------------
     
                                               * SEE INSTRUCTION BEFORE FILLING OUT!

</TABLE>

<PAGE>

<TABLE>

<CAPTION>
                                                                13G
- ------------------------------------------------------------------------------------------------------------------------------------
CUSIP No. 475086104                                                                                             Page 3 of 9 Pages
          ---------                                                           
- ------------------------------------------------------------------------------------------------------------------------------------

- --------- --------------------------------------------------------------------------------------------------------------------------
<S>       <C>                                                                                      <C>
     1    NAME OF REPORTING PERSON
          S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON

                                                    Smurfit International B.V.
- --------- --------------------------------------------------------------------------------------------------------------------------
- --------- --------------------------------------------------------------------------------------------------------------------------
     2    CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
                                                                                                  (a)  |_|
                                                                                                  (b)  |X|
- --------- --------------------------------------------------------------------------------------------------------------------------
- --------- --------------------------------------------------------------------------------------------------------------------------
     3    SEC USE ONLY

- --------- --------------------------------------------------------------------------------------------------------------------------
- --------- --------------------------------------------------------------------------------------------------------------------------
     4    CITIZENSHIP OR PLACE OF ORGANIZATION

                                                          The Netherlands
- --------- --------------------------------------------------------------------------------------------------------------------------
                 --------- ---------------------------------------------------------------------------------------------------------
                      5    SOLE VOTING POWER
 NUMBER OF
                                                                 -0-
   SHARES        --------- --------------------------------------------------------------------------------------------------------
                 --------- --------------------------------------------------------------------------------------------------------
BENEFICIALLY          6    SHARED VOTING POWER

  OWNED BY                                               51,638,462 shares
                 --------- ---------------------------------------------------------------------------------------------------------
    EACH         --------- ---------------------------------------------------------------------------------------------------------
                      7    SOLE DISPOSITIVE POWER
  REPORTING          
                                                                 -0-
   PERSON        --------- ---------------------------------------------------------------------------------------------------------
                 --------- ---------------------------------------------------------------------------------------------------------
    WITH              8    SHARED DISPOSITIVE POWER
     
                                                         51,638,462 shares
- --------- --------------------------------------------------------------------------------------------------------------------------
- --------- --------------------------------------------------------------------------------------------------------------------------
     9    AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

                                                         51,638,462 shares
- --------- --------------------------------------------------------------------------------------------------------------------------
- --------- --------------------------------------------------------------------------------------------------------------------------
    10    CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*

                                                                |_|
- --------- --------------------------------------------------------------------------------------------------------------------------
- --------- --------------------------------------------------------------------------------------------------------------------------
    11    PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9

                                                              46.53%
- --------- --------------------------------------------------------------------------------------------------------------------------
- --------- --------------------------------------------------------------------------------------------------------------------------
    12    TYPE OF REPORTING PERSON*

                                                                CO
- --------- --------------------------------------------------------------------------------------------------------------------------
- --------- --------------------------------------------------------------------------------------------------------------------------
     
                                               * SEE INSTRUCTION BEFORE FILLING OUT!
</TABLE>

<PAGE>

<TABLE>

<CAPTION>
                                                                13G
- ------------------------------------------------------------------------------------------------------------------------------------
CUSIP No. 475086104                                                                                             Page 4 of 9 Pages
          ---------                                                           
- ------------------------------------------------------------------------------------------------------------------------------------

- --------- --------------------------------------------------------------------------------------------------------------------------
<S>       <C>                                                                                      <C>
     1    NAME OF REPORTING PERSON
          S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON

                                                    Jefferson Smurfit Group plc
- --------- --------------------------------------------------------------------------------------------------------------------------
- --------- --------------------------------------------------------------------------------------------------------------------------
     2    CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
                                                                                                  (a)  |_|
                                                                                                  (b)  |X|
- --------- --------------------------------------------------------------------------------------------------------------------------
- --------- --------------------------------------------------------------------------------------------------------------------------
     3    SEC USE ONLY

- --------- --------------------------------------------------------------------------------------------------------------------------
- --------- --------------------------------------------------------------------------------------------------------------------------
     4    CITIZENSHIP OR PLACE OF ORGANIZATION

                                                              Ireland
- --------- --------------------------------------------------------------------------------------------------------------------------
                 --------- ---------------------------------------------------------------------------------------------------------
                      5    SOLE VOTING POWER
 NUMBER OF
                                                                 -0-
   SHARES        --------- --------------------------------------------------------------------------------------------------------
                 --------- --------------------------------------------------------------------------------------------------------
BENEFICIALLY          6    SHARED VOTING POWER

  OWNED BY                                               51,638,462 shares
                 --------- ---------------------------------------------------------------------------------------------------------
    EACH         --------- ---------------------------------------------------------------------------------------------------------
                      7    SOLE DISPOSITIVE POWER
  REPORTING          
                                                                 -0-
   PERSON        --------- ---------------------------------------------------------------------------------------------------------
                 --------- ---------------------------------------------------------------------------------------------------------
    WITH              8    SHARED DISPOSITIVE POWER
     
                                                         51,638,462 shares
- --------- --------------------------------------------------------------------------------------------------------------------------
- --------- --------------------------------------------------------------------------------------------------------------------------
     9    AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

                                                         51,638,462 shares
- --------- --------------------------------------------------------------------------------------------------------------------------
- --------- --------------------------------------------------------------------------------------------------------------------------
    10    CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*

                                                                |_|
- --------- --------------------------------------------------------------------------------------------------------------------------
- --------- --------------------------------------------------------------------------------------------------------------------------
    11    PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9

                                                              46.53%
- --------- --------------------------------------------------------------------------------------------------------------------------
- --------- --------------------------------------------------------------------------------------------------------------------------
    12    TYPE OF REPORTING PERSON* 
                                                                CO
- --------- --------------------------------------------------------------------------------------------------------------------------
- --------- --------------------------------------------------------------------------------------------------------------------------
     
                                               * SEE INSTRUCTION BEFORE FILLING OUT!
</TABLE>

<PAGE>
                                                  
                                                               Page 5 of 9 Pages
                                                 


         This Amendment No. 1 amends and  supplements  the Schedule 13G filed on
February 13, 1995 (the "Schedule 13G") by Smurfit Packaging Corporation ("SPC"),
Smurfit International B.V. ("SIBV") and Jefferson Smurfit Group plc with respect
to  the  Common  Stock,  par  value  $0.01  per  share,  of  Jefferson   Smurfit
Corporation.  All capitalized  terms used and not otherwise defined herein shall
have the meaning ascribed to such terms in the Schedule 13G.


Item 4.  Ownership

Item 4(b) of the Schedule 13G is hereby  amended and restated in its entirety as
follows:

         (b)  Percent of Class

              The SPC Shares, the SIBV Shares and the Aggregate Shares represent
              33.16%, 13.37% and 46.53%, respectively, of the 110,989,156 shares
              of Common Stock reported to be outstanding in the Issuer's  report
              on Form 10-Q filed for the quarter ended September 30, 1995.

<PAGE>

                                                               Page 6 of 9 Pages


                                    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.


                                                          2/2/96
                                           -------------------------------------
                                                           Date



                                                  /s/ Michael Smurfit, Jr.
                                           -------------------------------------
                                                         Signature


                                                    Michael Smurfit, Jr.
                                           President and Chief Executive Officer
                                           Smurfit Packaging Corporation
                                           -------------------------------------
                                                        Name/Title

<PAGE>

                                                               Page 7 of 9 Pages



                                    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.


                                                          2/5/96
                                           -------------------------------------
                                                           Date



                                                  /s/ Michael O' Riordan
                                           -------------------------------------
                                                         Signature


                                                    Michael O'Riordan
                                           Managing Director
                                           Smurfit International B.V.
                                           -------------------------------------
                                                        Name/Title

<PAGE>

                                                               Page 8 of 9 Pages



                                    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.


                                                          2/2/96
                                           -------------------------------------
                                                           Date



                                                /s/ Michael R. J. Pettigrew
                                           -------------------------------------
                                                        Signature


                                                   Michael R. J. Pettigrew
                                           Secretary
                                           Jefferson Smurfit Group plc
                                           -------------------------------------
                                                        Name/Title

<PAGE>

<TABLE>

<CAPTION>

                                                               Page 9 of 9 Pages



                                  EXHIBIT INDEX
                                  -------------


    Description                                                            Page
    -----------                                                            ----
<S> <C>                                                                    <C>
    No exhibits are filed herewith.


</TABLE>


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