UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
Schedule 13G
Under the Securities Exchange Act of 1934
(Amendment No. 2 )*
Culp, Incorporated
(Name of Issuer)
Common Stock
(Title of Class of Securities)
230215105
(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. 230215105
(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:
North Carolina
Number of Shares (5) Sole Voting Power 246,170
----------------- ----------
Beneficially (6) Shared Voting Power 0
------------------- -----------
Owned by Each (7) Sole Dispositive Power 246,170
---------------------- ----------
Reporting Person With: (8) Shared Dispositive Power 3,048,750
------------------------ -----------
(9) Aggregate Amount Beneficially Owned by Each Reporting Person
3,295,236
(10) Check if the Aggregate Amount in Row 9 Excludes Certain Shares (See
Instructions)
[ ]
(11) Percent of Class Represented by Amount in Row 9
27.1% (based on 11,245,579 shares outstanding on 12/31/95)
--------------
(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 Offices:
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 Business Office or, if none, Residence:
One First Union Center
Charlotte, North Carolina 28288-0137
Item 2(c) Citizenship:
North Carolina
Item 2(d) Title of Class of Securities:
Common Stock
Item 2(e) CUSIP Number:
230215105
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: 3,295,236
-----------
(b) Percent of Class: 27.1%
-------
(c) Number of shares as to which such person has:
(I) sole power to vote or to direct the vote 246,170
------------
(ii) shared power to vote or to direct the vote 0
------------
(iii) sole power to dispose or to direct the disposition of 246,170
------------
(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 54-0211320
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). Such subsidiaries
hold the securities being reported in a fiduciary capacity for its
customers.
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 of my knowledge and belief, I certify
that the information set forth in this statement is true, complete and correct.
FIRST UNION CORPORATION
February 12, 1996
Date
Signature
Dorothy F. Crowe, Assistant Vice President & Compliance Officer
