10-Q/A

	  
                           				   UNITED STATES
                   			 SECURITIES AND EXCHANGE COMMISSION
                    			       WASHINGTON, DC 20549

                           				   FORM  10-Q/A

            	     [ X ] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d)
                    		      OF THE SECURITIES EXCHANGE ACT OF 1934
                   		     For the Twelve Weeks Ended March 25, 1995

                                 				       OR
 
           	     [   ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d)
                    		      OF THE SECURITIES EXCHANGE ACT OF 1934

                       			  Commission File Number 1-3838

                       			 FEDERAL PAPER BOARD COMPANY, INC.
        	     (Exact name of Registrant as specified in its charter)

    NORTH CAROLINA                                           22-0904830
   (State or otherjurisdiction                            (I.R.S. Employer
    of incorporation or organization)                      Identification No.)

                		  75 CHESTNUT RIDGE ROAD, MONTVALE, NEW JERSEY 07645
               		  (Address of principal executive office)   (Zip Code)

       Registrant's telephone number, including area code:   (201) 391-1776

The undersigned Registrant hereby amends the following items, financial
statements, exhibits or other portions of its Report on Form 10-Q for the
twelve weeks ended March 25, 1995 as set forth in the pages attached hereto:


              		    Part II         Other Information
              		    Exhibit 27      Financial Data Schedule

Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this amendment to be signedon its undersigned,
thereunto duly authorized.

                				 FEDERAL PAPER BOARD COMPANY, INC.
                				 BY: /s/ QUENTIN J. KENNEDY
                       					 Quentin J. Kennedy
                       					 Director, Executive Vice President,
                       					 Secretary and Treasurer

Date: May 9, 1995










                  			       FEDERAL PAPER BOARD COMPANY, INC
                              					 EXHIBIT INDEX



Exhibit No.        Description                                       Page No.

11                 Computation of Earnings (Loss) per Common Share      14

27                 Financial Data Schedule                              15

EX-27

 


<ARTICLE> 5
<LEGEND>
This amended financial data schedule contains summary financial
information extracted from the Company's Form 10-Q for the fiscal
quarter ended March 25, 1995.

<MULTIPLIER> 1,000
       
                             
<PERIOD-TYPE>                   3-MOS
<FISCAL-YEAR-END>                          DEC-30-1995
<PERIOD-START>                              JAN-1-1995
<PERIOD-END>                               MAR-25-1995 
<CASH>                                             296
<SECURITIES>                                         0
<RECEIVABLES>                                   99,528
<ALLOWANCES>                                         0
<INVENTORY>                                    256,416
<CURRENT-ASSETS>                               401,804
<PP&E>                                       2,814,317
<DEPRECIATION>                                 914,465
<TOTAL-ASSETS>                               2,652,467
<CURRENT-LIABILITIES>                          355,103
<BONDS>                                        893,235
<COMMON>                                             0
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<OTHER-SE>                                     955,510
<TOTAL-LIABILITY-AND-EQUITY>                 2,652,467
<SALES>                                        435,792
<TOTAL-REVENUES>                               435,792
<CGS>                                          288,177
<TOTAL-COSTS>                                  344,941
<OTHER-EXPENSES>                               (5,935)
<LOSS-PROVISION>                                     0
<INTEREST-EXPENSE>                              21,616
<INCOME-PRETAX>                                 75,170
<INCOME-TAX>                                    28,270
<INCOME-CONTINUING>                             46,900
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                    46,900
<EPS-PRIMARY>                                        0
<EPS-DILUTED>                                      .99