SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 SCHEDULE 13G Under the Securities Exchange Act of 1934 (Amendment No. 5) ST. JOE PAPER COMPANY (Name of Issuer) common stock (Title of Class of Securities) 790161103 (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 the prior coverage 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 pages(s)) CUSIP NO. 790161103 13G 1. NAME OF REPORTING PERSON NationsBank Corporation S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON 56-0906609 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) (b) X 3. SEC USE ONLY 4. CITIZENSHIP OR PLACE OF ORGANIZATION North Carolina Corporation NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH 5. SOLE VOTING POWER 3,550 6. SHARED VOTING POWER 20,862,487 7. SOLE DISPOSITIVE POWER 1,500 8. SHARED DISPOSITIVE POWER 20,863,137 9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 20,866,037 10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES * 11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 68.4 12. TYPE OF REPORTING PERSON * HC *SEE INSTRUCTION BEFORE FILLING OUT! CUSIP NO. 790161103 13G 1. NAME OF REPORTING PERSON N.B. Holdings Corporation S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) (b) X 3. SEC USE ONLY 4. CITIZENSHIP OR PLACE OF ORGANIZATION North Carolina Corporation NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH 5. SOLE VOTING POWER 3,550 6. SHARED VOTING POWER 20,862,487 7. SOLE DISPOSITIVE POWER 1,500 8. SHARED DISPOSITIVE POWER 20,863,137 9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 20,866,037 10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES * 11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 68.4 12. TYPE OF REPORTING PERSON * HC *SEE INSTRUCTION BEFORE FILLING OUT! CUSIP NO. 790161103 13G 1. NAME OF REPORTING PERSON NationsBank of Florida, N.A. S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) (b) X 3. SEC USE ONLY 4. CITIZENSHIP OR PLACE OF ORGANIZATION U.S. National Banking Association NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH 5. SOLE VOTING POWER 1,100 6. SHARED VOTING POWER 20,861,987 7. SOLE DISPOSITIVE POWER 300 8. SHARED DISPOSITIVE POWER 20,861,987 9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 20,863,087 10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES * 11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 68.4 12. TYPE OF REPORTING PERSON * BK *SEE INSTRUCTION BEFORE FILLING OUT! CUSIP NO. 790161103 13G 1. NAME OF REPORTING PERSON NationsBank of Georgia, N.A. S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) (b) X 3. SEC USE ONLY 4. CITIZENSHIP OR PLACE OF ORGANIZATION U.S. National Banking Association NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH 5. SOLE VOTING POWER 1,150 6. SHARED VOTING POWER 0 7. SOLE DISPOSITIVE POWER 0 8. SHARED DISPOSITIVE POWER 1,150 9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 1,150 10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES * 11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 0 12. TYPE OF REPORTING PERSON * BK *SEE INSTRUCTION BEFORE FILLING OUT! CUSIP NO. 790161103 13G 1. NAME OF REPORTING PERSON NationsBank of Tennessee, N.A. S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) (b) X 3. SEC USE ONLY 4. CITIZENSHIP OR PLACE OF ORGANIZATION U.S. National Banking Association NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH 5. SOLE VOTING POWER 1,200 6. SHARED VOTING POWER 0 7. SOLE DISPOSITIVE POWER 1,200 8. SHARED DISPOSITIVE POWER 0 9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 1,200 10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES * 11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 0 12. TYPE OF REPORTING PERSON * BK *SEE INSTRUCTION BEFORE FILLING OUT! CUSIP NO. 790161103 13G 1. NAME OF REPORTING PERSON NationsBank of Virginia, N.A. S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) (b) X 3. SEC USE ONLY 4. CITIZENSHIP OR PLACE OF ORGANIZATION U.S. National Banking Association NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH 5. SOLE VOTING POWER 100 6. SHARED VOTING POWER 500 7. SOLE DISPOSITIVE POWER 0 8. SHARED DISPOSITIVE POWER 0 9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 600 10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES * 11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 0 12. TYPE OF REPORTING PERSON * BK *SEE INSTRUCTION BEFORE FILLING OUT! SCHEDULE 13G Item 1(a) Name of Issuer: St. Joe Paper Company Item 1(b) Address of Issuer's Principal Executive Offices: 1650 Prudential Drive Ste. 400 Jacksonville, Fl. 32207 Item 2(a) Name of Person(s) Filing: (a) NationsBank Corporation (b) N.B. Holdings Corporation (c) NationsBank of Florida, N.A. (d) NationsBank of Georgia, N.A. (e) NationsBank of Tennessee, N.A. (f) NationsBank of Virginia, N.A. Item 2(b) Address of Principal Business Office or, if none, Residence: (a) NationsBank Plaza, Charlotte, North Carolina 28255 (b) NationsBank Plaza, Charlotte, North Carolina 28255 (c) 400 No. Ashley Drive, Tampa, FL 33601 (d) 600 Peachtree Street, NE, 55th Floor, Atlanta, GA 30308 (e) One NationsBank Plaza, Nashville, Tennessee 37219-1697 (f) 12th and Main Streets, Richmond, VA 23219 Item 2(c) Citizenship: (a) North Carolina Corporation (b) North Carolina Corporation (c) U.S. National Banking Association (d) U.S. National Banking Association (e) U.S. National Banking Association (f) U.S. National Banking Association Item 2(d) Title of Class of Securities: Common stock Item 2(e) CUSIP Number: 790161103 Item 3 If this statement is filed pursuant to Rules 13d-1(b), or 13d-2(b), check whether the person filing is a: (a) Broker or Dealer registered under Section 15 of the Act (b) X Bank as defined in Section 3(a)(6) of the Act (c) Insurance Company as defined in Section 3(a)(19) of the Act (d) Investment Company registered under Section 8 of the Investment Company Act (e) Investment Advisor registered under Section 203 of the Investment Advisors Act of 1940 (f) Employee Benefit Plan, Pension Fund which is subject to the provisions of the Employee Retirement Income Security Act of 1974 or Endowment Fund; see Sub-section 240.13d-1(b)(1)(ii)(F) (g) X Parent Holding Company in accordance with Subsection 240.13d-1(b)(ii)(G) (Note: See Item 7) (h) X Group, in accordance with Sub-section 240.13d1(b)(1)(ii)(H) The following entities are holding companies: NationsBank Corporation N.B. Holdings Corporation The following entities are banks: NationsBank of Florida, N.A. NationsBank of Georgia, N.A. NationsBank of Tennessee, N.A. NationsBank of Virginia, N.A. The following entities are registered investment advisors: Item 4 Ownership: With respect to the beneficial ownership of the reporting entity as of 12/31/94, see Items 5 through 11, inclusive, of the respective cover pages of this Schedule 13G applicable to such entity which are incorporated herein by reference. 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: The reported shares are held in various fiduciary accounts, and accordingly, dividends and the proceeds of such shares are payable to other persons, including such accounts, the beneficiaries or settlors thereof or a combination of such persons. In certain instances, other persons (including beneficiaries and settlors) may be deemed to have the power to direct receipt of dividends or the proceeds of the sale of shares reported herein. To the best of the undersigned's knowledge and belief, no one other person has such an economic interest relating to more than 5% of the class of reported shares. Item 7 Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on By the Parent Holding Company: Pursuant to Rule 13d-1(b)(1)(ii)(G) of the Securities Exchange Act of 1934, NationsBank Corporation is filing this Schedule 13G as a parent holding company of the following: a. N.B. Holdings Corporation, which is a holding company of its subsidiaries, NationsBank of Florida, N.A. NationsBank of Georgia, N.A. NationsBank of Tennessee, N.A. NationsBank of Virginia, N.A. classifiable under Item 3(b) as Banks as defined in Section 3(a)(6) of the Securities Exchange Act of 1934. Item 8 Identification and Classification of Members of the Group: Except for the relationships referred to in Item 7 hereof, the reporting entities do not affirm the existence of a group. This Form is filed on behalf of each of the entities listed in Item 2(a) hereof. 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 referenced 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 purpose 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. NATIONSBANK CORPORATION N.B. HOLDINGS CORPORATION NATIONSBANK OF FLORIDA, N.A. NATIONSBANK OF GEORGIA, N.A. NATIONSBANK OF TENNESSEE, N.A. NATIONSBANK OF VIRGINIA, N.A. Date: February 10, By: 1995 Signature Mary Jo Inglett/Compliance Officer Name/Title mji