<PAGE> 1
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
-----------------------------------------
(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
<PAGE> 2
CUSIP NO. 851783-10-0 SCHEDULE 13G PAGE 2 OF 6 PAGES
--------------------- ----- -----
(1) NAMES OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
Central Reassurance 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
United States of America
---------------------------------------------------------------------
(5) SOLE VOTING POWER
175,000 -- Class B
--------------------------------------------------------
(6) SHARED VOTING POWER
NUMBER OF
SHARES 0
BENEFICIALLY
OWNED BY --------------------------------------------------------
EACH (7) SOLE DISPOSITIVE POWER
REPORTING
PERSON WITH 175,000
--------------------------------------------------------
(8) SHARED DISPOSITIVE POWER
0
--------------------------------------------------------
(9) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
175,000
---------------------------------------------------------------------
(10) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 9 EXCLUDES CERTAIN
SHARES* [ ]
---------------------------------------------------------------------
(11) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
2.44%
---------------------------------------------------------------------
(12) TYPE OF REPORTING PERSON*
CO
---------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
December 31, 1998
PAGE 2 OF 6 PAGES
----- -----
<PAGE> 3
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 only, no Class A
being owned by this filer. 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, 1998, the Company reported that the outstanding shares of
Class A and Class B common stock were as follows:
Class A - 10,630,281
Class B - 7,196,864
----------
Total - 17,827,145
(End of Introductory Comments.)
December 31, 1998
Page 3 of 6 Pages
<PAGE> 4
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:
Central Reassurance Corporation
Item 2(b). Address of Principal Business Office or, If None,
Residence:
210 South White Street
Lancaster, SC 29720
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, 1998
Page 4 of 6 Pages
<PAGE> 5
Item 4. Ownership:
(a) Amount Beneficially Owned:
175,000 shares.
(b) Percent of Class:
2.44%
(c) Number of shares as to which
such person has:
(i) sole power to vote or
direct the vote
175,000
(ii) shared power to vote or
direct the vote
0
(iii) sole power to dispose or
direct the disposition of
175,000
(iv) shared power to dispose or
direct the disposition of
0
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.
Item 7. Identification and Classification of the Subsidiary Which Acquired the
Security Being Reported on by the Parent Holding Company:
Not Applicable.
December 31, 1998
Page 5 of 6 Pages
<PAGE> 6
Item 8. Identification and Classification of Members of the Group:
Not Applicable.
Item 9. Notice of Dissolution of the Group:
Not Applicable.
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.
CENTRAL REASSURANCE CORPORATION
January 31, 1999 By: /s/ Thomas W. Thomas
----------------------------------
Name: Thomas W. Thomas
Title: Vice President
December 31, 1998
Page 6 of 6 Pages
