SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. 2)
ST. JOE CORPORATION
(Name of Issuer)
Common Stock
(Title of Class of Securities)
790148100
(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 pages(s))
CUSIP NO.
790148100
13G
1
NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
NationsBank Corporation
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
6
SHARED VOTING POWER
7
SOLE DISPOSITIVE POWER
8
SHARED DISPOSITIVE POWER
9
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
10
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
SHARES *
11
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
Less Than 5% (Closing)
12
TYPE OF REPORTING PERSON *
HC
*SEE INSTRUCTION BEFORE FILLING OUT!
SCHEDULE 13G
Item 1(a) Name of Issuer:
St. Joe Corporation
Item 1(b) Address of Issuer's Principal Executive Offices:
1650 Prudential Dr. - Suite 400
Jacksonville, FL 32207
Item 2(a) Name of Person(s) Filing:
NationsBank Corporation
Item 2(b) Address of Principal Business Office or, if none,
Residence:
101 South Tryon Street, NationsBank Plaza, Charlotte, North
Carolina 28255
Item 2(c) Citizenship:
North Carolina Corporation
Item 2(d) Title of Class of Securities:
Common stock
Item 2(e) CUSIP Number:
790148100
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)
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 Sub-section
240.13d-1(b)(ii)(G) (Note: See Item 7)
(h)
Group, in accordance with Sub-section 240.13d-1(b)(1)(ii)(H)
The following entities are holding companies:
NationsBank Corporation
Item 4 Ownership:
With respect to the beneficial ownership of the reporting entity
as of 8/31/97, 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:
If this statement is being filed to report the fact that as of
the date hereof
the reporting person has ceased to be the beneficial owner of
more than five
percent of the class of securities, check the following
X
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:
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.
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
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
Date:
September 10, 1997
By:
Name: Satish G. Pattegar
Title: Senior Vice President