SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
EFFICIENCY LODGE, INC.
(Name of Issuer)
COMMON STOCK, PAR VALUE $.10 PER SHARE
(Title of Class of Securities)
842155103
--------------
(CUSIP Number)
W. Ray Barnes
5342 Old Floyd Road
P.O. Box 635
Mableton, GA 30059
(770) 819-0039
--------------------------------------------------------
(Name, Address and Telephone Number of Person Authorized
to Receive Notices and Communications)
December 31, 1996
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(Date of Event Which Requires Filing of This Statement)
If the filing person has previously filed a statement of Schedule
13G to report the acquisition which is the subject of this
Schedule 13D, and is filing this schedule because of Rule 13d-
1(b)(3) or (4), check the following box. / /<PAGE>
SCHEDULE 13D
CUSIP NO. 842155103
---------
1 NAME OF REPORTING PERSON
S.S. OR IRS IDENTIFICATION NO. OF ABOVE PERSON
W. Ray Barnes
________________________________________________________________
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a)
(b) /x/
________________________________________________________________
3. SEC USE ONLY
________________________________________________________________
4. SOURCE OF FUNDS*
00
________________________________________________________________
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS
IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) / /
________________________________________________________________
6. CITIZENSHIP
United States of America
________________________________________________________________
NUMBER OF 7. SOLE VOTING POWER
SHARES 496,195 Shares (48.3%)
BENEFICIALLY
OWNED BY __________________________________
EACH
REPORTING 8. SHARED VOTING POWER 0
PERSON WITH
_______________________________
9. SOLE DISPOSITIVE POWER
496,195 Shares (48.3%)
_________________________________
10. SHARED DISPOSITIVE POWER 0<PAGE>
___________________________________________________________
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
496,195 shares
____________________________________________________________
12. CHECK BOX IF THE AGGREGATE AMOUNT IN
ROW (11) EXCLUDES CERTAIN SHARES / /
____________________________________________________________
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
48.3%
____________________________________________________________
14. TYPE OF REPORTING PERSON
IN
_________________________________________________________________<PAGE>
Item 1. SECURITY AND ISSUER.
This statement (this "Statement") relates to the Common
Stock par value $.10 per share (the "Securities") of
Efficiency Lodge, Inc. (the "Issuer"), with principal
executive offices located at 5342 Old Floyd Road, P.O.
Box 635, Mableton, Georgia 30059.
Item 2. IDENTIFY AND BACKGROUND.
(a) Name: W. Ray Barnes.
(b) Business address: 5342 Old Floyd Road
P.O. Box 635
Mableton, Georgia 30059
(c) Present occupation or employment and business
address:
President and Chief Executive Officer
Efficiency Lodge, Inc.
5342 Old Floyd Road
P.O. Box 635
Mableton, Georgia 30059
(d) Criminal proceedings: none.
(e) Securities related civil proceedings: none.
(f) Citizenship: United States of America
Item 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION.
The Securities were acquired pursuant to a merger of
Efficiency Lodge, Inc. ("ELI") with and into the Issuer
(the "Merger"). The Issuer's name was Southern
Acceptance Corporation prior to the Merger, and the name
was changed in the Merger. In the Merger, the reporting
person received 496,195 shares (the "Acquired Shares") of
the Issuer, the surviving corporation, in exchange for
all of his capital stock of ELI.
Item 4. PURPOSE OF THE TRANSACTION.
The acquisition of the Acquired Shares was pursuant to
the Merger whereby ELI merged with and into the Issuer.
This Merger allowed the Issuer to diversify its business.
The Merger provided ELI with the benefits of being a
public company.<PAGE>
Item 5. INTEREST IN SECURITIES OF THE ISSUER.
(a) The 496,195 Acquired Shares represent 48.3% of the
currently outstanding Securities of the Issuer and are
all of the shares owned by the Reporting Person.
(b) The Reporting Person has sole power to vote and
dispose of the Acquired Shares.
(c) No transactions have been effectuated during the
past 60 days by the Reporting Person involving the
Securities. The Merger was effective December 31, 1996.
(d) None.
(e) Not Applicable.
Item 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR
RELATIONSHIPS WITH RESPECT TO SECURITIES OF THE ISSUER.
An amount of Securities equal in number and percentage
ownership to the Acquired Shares is owned beneficially by
the Reporting Person's brother, Roy E. Barnes. The
Reporting Person disclaims membership in a group with his
brother.
Item 7. MATERIAL TO BE FILED AS EXHIBITS.
Exhibit 1: Agreement and Plan of Merger by and between
Southern Acceptance Corporation and ELI dated
January 22, 1996, as amended on June 11, 1996
and September 6, 1996.
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: June 11, 1997
/s/ W. Ray Barnes
W. Ray Barnes
