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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
INFORMATION STATEMENT PURSUANT TO RULES 13d-1 AND 13d-2
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(Amendment No. )*
SPRINGS INDUSTRIES, INC.
-----------------------------------------
(Name of Issuer)
$.25 Par Value Common Stock Class B
-----------------------------------------
(Title of Class of Securities)
851783-10-0
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(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
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 8 Pages
AMENDMENT MATERIAL TO THE ORIGINAL FILINGS
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CUSIP NO. 851783-10-0 SCHEDULE 13G PAGE 2 OF 8 PAGES
--------------------- ----- -----
(1) NAMES OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
Patricia Close
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(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (A) [ ]
(B) [ X ]
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(3) SEC USE ONLY
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(4) CITIZENSHIP OR PLACE OF ORGANIZATION
United States of America
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(5) SOLE VOTING POWER
0
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(6) SHARED VOTING POWER
NUMBER OF 1,849,128 -- Class B
SHARES 3,900 -- Class A
BENEFICIALLY
OWNED BY --------------------------------------------------------
EACH (7) SOLE DISPOSITIVE POWER
REPORTING
PERSON WITH 133,046 -- Class B
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(8) SHARED DISPOSITIVE POWER
1,849,128 -- Class B
3,900 -- Class A
--------------------------------------------------------
(9) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,982,174 -- Class B*
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(10) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 9 EXCLUDES CERTAIN
SHARES* [ X ]
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(11) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
26.40%
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(12) TYPE OF REPORTING PERSON*
IN
* Does not include Class A shares
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
December 31, 1996
PAGE 2 OF 8 PAGES
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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Schedule 13G
Under the Securities Exchange Act of 1934
Introductory Comments
The following report is with respect to Class B stock. Filer also
beneficially owns 3,900 shares of Class A stock in her role as one of fourteen
(14) directors of Springs Foundation, Inc. and Close Foundation, Inc., private
foundations. These shares are held in an investment fund managed by an
investment company retained by the Foundation. Class B stock carries voting
privileges equal to four times those to Class A. Class A stock may not convert
to Class B but Class B stock may convert to Class A at any time. See 13G for
year ending December 31, 1989 for information on rights of Class A versus Class
B stock.
At December 31, 1996, the Company reported that the outstanding shares of
Class A and Class B common stock were as follows:
Class A - 12,746,374
Class B - 7,508,579
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Total - 20,254,953
(End of Introductory Comments.)
December 31, 1996
Page 3 of 8 Pages
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SECURITIES AND EXCHANGE COMMISSION
Washington, D. C. 20549
Schedule 13G
Under the Securities Exchange Act of 1934
Item 1(a). Name of Issuer:
Springs Industries, Inc.
Item 1(b). Address of Issuer's Principal Executive Offices:
205 North White Street
Fort Mill, South Carolina 29715
Item 2(a). Name of Person Filing:
Patricia Close
Item 2(b). Address of Principal Business Office or, If None,
Residence:
3306 E. John Street
Seattle, Washington 98112
Item 2(c). Citizenship:
United States of America
Item 2(d). Title of Class of Securities:
$.25 par value common stock Class B
Item 2(e). CUSIP Number:
851783-10-0
Item 3. Statement Regarding Rules 13d-1(b) or 13d-2(b):
Not Applicable.
December 31, 1996
Page 4 of 8 Pages
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Item 4. Ownership: *
(a) Amount Beneficially Owned:
Class B - 1,982,174 shares.
(b) Percent of Class:
26.40%
(c) Number of shares as to which
such person has:
(i) sole power to vote or
direct the vote
0
(ii) shared power to vote or
direct the vote:
Class B - 1,849,128
Class A - 3,900
(iii) sole power to dispose or
direct the disposition of:
Class B - 133,046
(iv) shared power to dispose or
direct the disposition of:
Class B - 1,849,128
Class A - 3,900
Ms. Close disclaims beneficial ownership to all of the shares shown
above except 133,046 shares as to which she has dispositive power, which are
held by The Springs Company, Lancaster, South Carolina, as trustee of a
management trust which is revocable by Ms. Close on January 7 of any year upon
30 days' notice.
* Ms. Close has shared power to vote and dispose of 3,900 shares of
Class A Stock of Springs Foundation, Inc. and Close Foundation,
Inc. as a director of said Foundations, which are not reflected as
beneficially owned above. These shares are referenced in paragraph
(c) above, however for purposes of full disclosure.
December 31, 1996
Page 5 of 8 Pages
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In addition, The Springs Company, Lancaster, South Carolina, owns
beneficially 2,153,830 shares (or 29%) of such stock (including 618,854 shares
held as trustee for Ms. Close's brothers and sisters); Central Reassurance
Corporation (formerly Central Re Corporation), Lancaster, South Carolina, owns
beneficially 175,000 shares (or 2.33%) of such stock. All outstanding stock of
The Springs Company and Central Reassurance Corporation is owned by: trusts for
the benefit of Ms. Close and her brothers and sisters (including those trusts
described in Item 6); and by The Springs Company as trustee of management trusts
for Ms. Close and her brothers and sisters.
Item 5. Ownership of Five Percent or Less of a Class:
Not Applicable.
Item 6. Ownership of More than Five Percent on Behalf of Another Person:
Not Applicable
The shares shown in Item 4(c)(ii) and (iv), other than as provided in
subsection 2 below, are held by entitles having the right to receive dividends
and proceeds of sale as follows:
1.(a) 1,849,128 Class B shares (or 24.63%) held by Ms. Close, her
mother (Anne Springs Close), six of her seven brothers and sisters (Crandall
Close Bowles, Frances A. Close, Leroy Springs Close, Elliott Springs Close, Hugh
William Close, Jr., Derick Springsteen Close, and Katherine Anne Close), and
James Bradley as trustees for her brothers and sisters (each of such six
brothers and sisters is a beneficiary of trusts holding 300,893 shares, and is
therefore not a trustee with respect to such shares;
December 31, 1996
Page 6 of 8 Pages
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(b) 133,046 Class B shares (1.78%) (as to which Ms. Close has
dispositive power) are held by The Springs Company as trustee of the management
trust for Ms. Close, described in Item 4.
The trustees of these trusts may accumulate dividends or sale proceeds
or distribute them to the beneficiaries, except that Ms. Close is entitled to
all dividends on the shares held in the management trust.
2. 3,900 Class A shares are held by Springs Foundation, Inc. and Close
Foundation, Inc., private foundations, of which Ms. Close, her family members,
and employees of family-owned companies constitute the Board of Directors.
Item 7. Identification and Classification of the Subsidiary Which Acquired the
Security Being Reported on by the Parent Holding Company:
Not Applicable.
Item 8. Identification and Classification of Members of the Group:
Not Applicable.
Item 9. Notice of Dissolution of the Group:
Not Applicable.
December 31, 1996
Page 7 of 8 Pages
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Item 10. Certification:
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.
January 31, 1997 /s/ James H. Hodges
---------------------------------
James H. Hodges, Limited
Power of Attorney for
Patricia Close
December 31, 1996
Page 8 of 8 Pages
