SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
Schedule 13G
Under the Securities Exchange Act of 1934
(Amendment No. 1 )*
Culp Incorporated
(Name of Issuer)
Common Stock
(Title of Class of Securities)
230 215 105
(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 the following page(s))
Page 1 of 4 Pages
Page 2 of 4
CUSIP NO. 230 215 105
(1) Names of Reporting Persons S.S. or I.R.S. Identification Nos. of
Above Persons:
First Union Corporation 56-0898180
(2) Check the Appropriate Box if a Member of a Group (See Instructions)
(a) [ ]
(b) [ ]
(3) SEC Use Only
(4) Citizenship or Place of Organization:
First Union Corporation - North Carolina
Number of Shares (5)Sole Voting Power 226,010
Beneficially (6)Shared Voting Power
Owned by Each (7)Sole Dispositive Power 226,010
Reporting Person With: (8)Shared Dispositive Power 3,048,750
(9) Aggregate Amount Beneficially Owned by Each Reporting Person
3,274,760
(10) Check if the Aggregate Amount in Row 9 Excludes Certain Shares (See
Instructions)
[ ]
(11) Percent of Class Represented by Amount in Row 9
29.2%
(12) Type of Reporting Person (See Instructions)
First Union Corporation (HC)
Page 3 of 4
ITEM 1(A) NAME OF ISSUER:
Culp Incorporated
ITEM 1(B) ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICE:
101 South Main Street
P.O. Box 2686
High Point, NC 27261-2686
ITEM 2(A) NAME OF PERSON FILING:
First Union Corporation
ITEM 2(B) ADDRESS OF PRINCIPAL OFFICE:
One First Union Center
Charlotte, North Carolina 28288
ITEM 2(C) CITIZENSHIP:
First Union Corporation - North Carolina
ITEM 2(D) TITLE OF CLASS OF SECURITIES:
Common Stock
ITEM 2(E) CUSIP NUMBER:
230 215 105
ITEM 3 IF THIS STATEMENT IS FILED PURSUANT TO RULES 13D-1(B), OR 13D-2(B),
CHECK WHETHER THE PERSON FILING IS A:
(g) [X]Parent Holding Company, in accordance with section 240.13d-1(b)
(ii) (G)
ITEM 4 OWNERSHIP:
(a) Amount Beneficially Owned: 3,274,760
(b) Percent of Class: 29.2%
(c) Number of shares as to which such person has:
(i) Sole power to vote or to direct the vote 226,010
(ii) Shared power to vote or to direct the vote
(iii) Sole power to dispose or to direct the
disposition of 226,010
(iv) Shared power to dispose or to direct the
disposition of 3,048,750
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
Page 4 of 4
ITEM 7 IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARY WHICH ACQUIRED THE
SECURITY BEING REPORTED ON BY THE PARENT HOLDING COMPANY:
First Union National Bank of Virginia (BK) 54-0211320
First Union National Bank of North Carolina (BK) 56-0900030
ITEM 8 IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE GROUP:
Not applicable
ITEM 9 NOTICE OF DISSOLUTION OF GROUP:
Not applicable
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 inquiry and to the best statement is true, complete and
correct. of my knowledge and belief, I certify that the information set forth in
this
FIRST UNION CORPORATION
March 28, 1995
Date
Signature
Dorothy F. Crowe Assistant Vice President & Compliance Officer
EXHIBIT
First Union Corporation is filing this schedule pursuant to Rule 13d-
1(b)(ii)(G) as indicated under Item 3(g). The relevant subsidiaries are First
Union National Bank of North Carolina (BK), and First Union National Bank of
Virginia (BK).
