SCHEDULE 13G 
 
Amendment No. 1 
Payless Cashways Incorporated 
common stock 
Cusip # 704378306 
Filing Fee: No 


Cusip # 704378306 
Item 1:	Reporting Person - FMR Corp. - (Tax ID:  04-2507163) 
Item 4:	Commonwealth of Massachusetts 
Item 5:	None 
Item 6:	None 
Item 7:	1,842,600 
Item 8:	None 
Item 9:	1,842,600 
Item 11:	5.25% 
Item 12:	HC  
 
 


Cusip # 704378306 
Item 1:	Reporting Person - Edward C. Johnson 3d - (Tax ID:  ###-##-####) 
Item 4:	United States of America 
Item 5:	None 
Item 6:	None 
Item 7:	1,842,600 
Item 8:	None 
Item 9:	1,842,600 
Item 11:	5.25% 
Item 12:	IN  
 
 


SCHEDULE 13G - TO BE INCLUDED IN STATEMENTS 
FILED PURSUANT TO RULE 13d-1(b) or 13d-2(b) 
 
 
Item 1(a).	Name of Issuer: 
 
		Payless Cashways Incorporated 
 
Item 1(b).	Name of Issuer's Principal Executive Offices: 
 
		Two Pershing Square, 2300 Main, PO Box 419466 
		Kansas City, MO  64141-0466 
 
Item 2(a).	Name of Person Filing:  
 
		FMR Corp. 
 
Item 2(b).	Address or Principal Business Office or, if None, Residence: 
 
		82 Devonshire Street, Boston, Massachusetts  02109 
 
Item 2(c).	Citizenship: 
 
		Not applicable 
 
Item 2(d).	Title of Class of Securities: 
 
		Common Stock 
 
Item 2(e).	CUSIP Number:   
 
		704378306 
 
Item 3.	This statement is filed pursuant to Rule 13d-1(b) or 13d-2(b) and the 
person filing, FMR Corp., is a parent holding company in accordance 
with Section 240.13d-1(b)(ii)(G).  (Note:  See Item 7). 
 
Item 4.	Ownership 
 
	(a)	Amount Beneficially Owned:
	1,842,600 
 
	(b)	Percent of Class:
	5.25% 
 
	(c)	Number of shares as to which such person has:   
 
	(i)	sole power to vote or to direct the vote:
	None 
 
	(ii)	shared power to vote or to direct the vote:
	None 
 
	(iii)	sole power to dispose or to direct the disposition of:
	1,842,600 
 
	(iv)	shared power to dispose or to direct the disposition of:
	None 
 
 


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. 
 
	Various persons have the right to receive or the power to 
direct the receipt of dividends from, or the proceeds from the 
sale of, the common stock of Payless Cashways Incorporated.  
The interest of one person, Fidelity Magellan Fund, an 
investment company registered under the Investment Company Act 
of 1940, in the common stock of Payless Cashways Incorporated, 
amounted to 1,842,600 shares or 5.25% of the total outstanding 
common stock at May 31, 1994.   
 
Item 7.	Identification and Classification of the Subsidiary Which Acquired 
the Security Being Reported on By the Parent Holding Company. 
 
	See attached Exhibit(s) A and B. 
 
Item 8.	Identification and Classification of Members of the Group. 
 
	Not applicable, see attached Exhibit A.  
 
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 
Schedule 13G in connection with FMR Corp's beneficial ownership 
of the common stock of Payless Cashways Incorporated at May 31, 
1994  is true, complete and correct.  
 
 
 
	June 6, 1994	 
Date 
 
 
 
	/s/Arthur S. Loring 
Signature 
 
 
 
	Arthur S. Loring, Vice 
President	 
Name/Title 
 
 


SCHEDULE 13G - TO BE INCLUDED IN STATEMENTS 
FILED PURSUANT TO RULE 13d-1(b) or 13d-2(b) 
 
	Pursuant to the instructions in Item 7 of Schedule 13G, Fidelity 
Management & Research Company ("Fidelity"), 82 Devonshire Street, Boston, 
Massachusetts 02109, a wholly-owned subsidiary of FMR Corp. and an investment 
adviser registered under Section 203 of the Investment Advisers Act of 1940, 
is the beneficial owner of 1,842,600 shares or 5.25% of the common stock 
outstanding of Payless Cashways Incorporated ("the Company") as a result of 
acting as investment adviser to several investment companies registered under 
Section 8 of the Investment Company Act of 1940.   
 
	The ownership of one investment company, Fidelity Magellan Fund, amounted 
to 1,842,600 shares or 5.25% of the common stock outstanding.  Fidelity 
Magellan Fund has its principal business office at 82 Devonshire Street, 
Boston, Massachusetts 02109.   
 
	Edward C. Johnson 3d, FMR Corp., through its control of Fidelity, and the 
Funds each has sole power to dispose of the 1,842,600 shares owned by the 
Funds. 
 
	Neither FMR Corp. nor Edward C. Johnson 3d, Chairman of FMR Corp., has 
the sole power to vote or direct the voting of the shares owned directly by 
the Fidelity Funds, which power resides with the Funds' Boards of Trustees.  
Fidelity carries out the voting of the shares under written guidelines 
established by the Funds' Boards of Trustees. 
 
	Edward C. Johnson 3d owns 34.0% of the outstanding voting common stock of 
FMR Corp.  Mr. Johnson 3d is Chairman of FMR Corp.  Various Johnson family 
members and trusts for the benefit of Johnson family members own FMR Corp. 
voting common stock.  These Johnson family members, through their ownership of 
voting common stock, form a controlling group with respect to FMR Corp. 
 


SCHEDULE 13G - TO BE INCLUDED IN STATEMENTS 
FILED PURSUANT TO RULE 13d-1(b) or 13d-2(b) 
 
RULE 13d-1(e)  AGREEMENT 
 
	The undersigned persons, on June 6, 1994, agree and consent to the joint 
filing on their behalf of this Schedule 13G in connection with their 
beneficial ownership of the common stock of Payless Cashways Incorporated at 
May 31, 1994. 
 
	FMR Corp. 
	By	/s/Arthur S. Loring 
Arthur S. Loring
Vice President - Legal 
		Edward C. Johnson 3d 
	By	/s/Arthur S. Loring 
Arthur S. Loring
Under Power of Attorney dated 
5/17/89
On File with Schedule 13G for
Airborne Freight Corp. 9/10/91 
	Fidelity Management & Research Company 
	By	/s/Arthur S. Loring 
Arthur S. Loring
Sr. V.P. and General Counsel 
	Fidelity Magellan Fund 
	By	/s/Arthur S. Loring 
Arthur S. Loring
Secretary