UNITED STATES                    
                      SECURITIES AND EXCHANGE COMMISSION                     
                            Washington, D.C. 20549
                                 FORM 12b-25                      

                        Commission File Number 1-10466

                          NOTIFICATION OF LATE FILING

(Check One) [] Form 10-K [] Form 20-F [] Form 11-K [X] Form 10-Q [] Form N-SAR

                 For Period Ended: June 30, 1996  
                 [  ]     Transition Report on Form 10-K
                 [  ]     Transition Report on Form 20-F
                 [  ]     Transition Report on Form 11-K
                 [  ]     Transition Report on Form 10-Q
                 [  ]     Transition Report on Form N-SAR
                 For the Transition Period Ended:____________________________


   Nothing in the form shall be construed to imply that the Commission has
                  verified any information contained herein.
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    If the notification relates to a portion of the filing checked above,
           identify the Item(s) to which the notification relates:
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St. Joe Corporation
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Full Name of Registrant

St. Joe Paper Company
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Former Name if Applicable

Suite 400, 1650 Prudential Drive
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Address of Principal Executive Office (STREET AND NUMBER)

Jacksonville, FL  32207
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City, State and Zip Code

PART II - RULES 12b-25(b) and (c)

If the subject report could not be filed without unreasonable effort or expense
and the registrant seeks relief pursuant to Rule 12b-25(b), the following
should be completed.  (Check box if appropriate)

  X      (a)     The reasons described in reasonable detail in Part III of this
 ---             form could not be eliminated without unreasonable effort or

  X      (b)     The subject annual report, semi-annual report, transition
 ---             report on Form 10-K, Form 20-F, 11-K, Form N-SAR, or portion
                 thereof will be filed on or before the fifteenth calendar day
                 following the prescribed due date; or the subject quarterly
                 report or transition report on Form 10-Q, or portion thereof
                 will be filed on or before the fifth calendar day following
                 the prescribed due date; and

 __      (c)     The accountant's statement or other exhibit required by Rule
                 12b-25(c) has been attached if applicable.


State below in reasonable detail the reasons why Form 10-K and Form 10-KSB,
20-F, 11-K, 10-Q and Form 10-QSB, N-SAR, or the transition report or portion
thereof could not be filed within the prescribed period.  (Attach Extra Sheets
if Needed)

The Company has been occupied with calculating the gains on sales of
discontinued operations, including the impact of post-closing purchase price
adjustments. Discontinued operations include the Company's communications
segment, linerboard mill and container plants.  Sales of the operations were
completed during the second quarter.  As a result, the Company was unable to
complete the Form 10-Q process, including the preparation of management's
discussion and analysis of financial condition and results of operations, by
the due date.


(1)      Name and telephone number of person to contact in regard to this

             J. Malcolm Jones, Jr.           (904)              396-6600
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                  (Name)                  (Area Code)      (Telephone Number)

(2)      Have all other periodic reports required under Section 13 or 15(d) of
         the Securities Exchange Act of 1934 or Section 30 of the Investment
         Company Act of 1940 during the preceding 12 months or for such shorter
         period that the registrant was required to file such reports been
         filed?  If answer is no, identify report(s).
          X  Yes       No
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(3)      Is it anticipated that any significant change in results of operations
         from the corresponding period for the last fiscal year will be
         reflected by the earnings statements to be included in the subject
         report or portion thereof?    X  Yes      No
                                      ---      ---

         If so, attach an explanation of the anticipated change, both
         narratively and quantitatively, and, if appropriate, state the reasons
         why a reasonable estimate of the results cannot be made:

         No significant change is anticipated in the results of continuing
         operations.  However, the gain on the sale of discontinued operations
         of approximately $90 million will be included in the earnings
         statement for the quarter, and earnings from discontinued operations
         will have declined from approximately $18 million in the second quarter
         of 1995 to a loss of approximately $8 million in the second quarter
         of 1996.

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                             St. Joe Corporation
                 (Name of Registrant as Specified in Charter)

has caused this notification to be signed on its behalf by the undersigned
hereunto duly authorized.

Date   August 14, 1996              By:  /s/ D. Michael Groos           
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