content: SECURITIES AND EXCHANGE COMMISSION
  
                               WASHINGTON, DC  20549
  
                        -----------------------------------
  
                                     FORM 8-K
  
  
                                  CURRENT REPORT
  
  
                         Pursuant to Section 13 or 15(d) 
                                      of the 
                          Securities Exchange Act of 1934
  
  
  Date of Report (Date of earliest event reported):   July 31, 1995 
                                                     --------------
  
  
                                THE PARKWAY COMPANY
  ------------------------------------------------------------------
              (Exact name of Registrant as specified in its charter)
  
  
  
  Texas                      0-12505                   74-2123597
  ------------------------------------------------------------------
  (State or other      Commission File Number)       (IRS Employer
  jurisdiction of                                    Identification
  incorporation)                                         Number)
  
  
  300 One Jackson Place, 188 E. Capitol St., Jackson, MS  39201    
  -------------------------------------------------------------------
  (Address of principal executive offices)              (Zip Code)  
  
  
  Registrant's telephone number, including area code  (601) 948-4091
                                                    ----------------
  
              
  -------------------------------------------------------------------
           (Former name or former address,if changed since last report)
  
  
                                     FORM 8-K
  
                                THE PARKWAY COMPANY
  
  
  Item 2.     Acquisition or Disposition of Assets.
  
                    On July 31, 1995, The Parkway Company ("Parkway")
              purchased the Security Centre' office complex in Jackson,
              Mississippi from the Resolution Trust Corporation as
              receiver for Security Federal Savings and Loan
              Association for $13,500,000.  Upon acquisition, the
              buildings were renamed Mtel Centre'.  Mtel Centre' is an
              office building complex consisting of 260,000 net
              rentable square feet in two buildings and 130 parking
              spaces located in the central business district of
              Jackson.  The buildings are currently 96% leased. 
              Parkway funded the acquisition with cash balances of
              $4,270,000 and $8,740,000 drawn under two lines of credit
              with Deposit Guaranty National Bank.  The lines of credit
              have a combined limit of $12,000,000 and accrue interest
              based on the 90-day LIBOR (London Interbank Offered Rate)
              rate plus 1.85%.  One line of credit with a limit of
              $10,000,000 matures on June 30, 1996.  The second line of
              credit with a limit of $2,000,000 matures on August 15,
              1995.  Deposit Guaranty National Bank has committed to
              loan the Company $10,000,000 under a term loan secured by
              the Mtel Centre' which will have an interest rate of the
              banks prime lending rate and will mature 18 months from
              the date of the loan closing.  The Company expects to
              repay amounts outstanding under the two lines of credit
              from the proceeds of the $10,000,000 term loan.  The term
              loan is expected to close prior to August 31, 1995 and
              the Company expects the $2,000,000 line of credit to be
              extended until the term loan is funded.  The Jackson
              Downtown Class A office market has a current vacancy rate
              of approximately 5%.  Jackson-based Mobile
              Telecommunication Technologies Corp. (Mtel), a leader in
              the telecommunications industry, currently occupies
              approximately 122,000 square feet in the building under
              a ten-year lease that expires in July 2005.
  
  Item 7.     Financial Statements and Exhibits.
  
                    (a)   Financial Statements of Mtel Centre'
  
                    It is impractical to provide the audited financial
              statements of Mtel Centre' required by Item 7(a) of Form
              8-K, but such financial statements will be filed as soon
              as practical but not later than 60 days after the filing
              of this Form 8-K.
  
                    (b)   Pro Forma Consolidated Financial Statements.
        
                    The pro forma consolidated financial statements will
              be filed with the audited financial statements of Mtel
              Centre'.
  
                    (c)   Exhibits.
  
  
  
  
                                     FORM 8-K
  
                                THE PARKWAY COMPANY
  
  
  
                                    SIGNATURES
  
  
              Pursuant to the requirements of the Securities Exchange
  Act of 1934, the Registrant has duly caused this report to be
  signed on its behalf by the undersigned hereunto duly authorized.
  
  DATED:      August 14, 1995
  
                                     THE PARKWAY COMPANY
  
  
  
                                   BY:
                                       ------------------------------ 
                                       Sarah P. Clark, Vice President
                                       and Chief Financial Officer
                                                                 <PAGE>
metadata_documents: [{"type": "8-K", "sequence": "1", "secsgml_size_bytes": 5373}]
text: SECURITIES AND EXCHANGE COMMISSION
  
                               WASHINGTON, DC  20549
  
                        -----------------------------------
  
                                     FORM 8-K
  
                                  CURRENT REPORT
  
                         Pursuant to Section 13 or 15(d) 
                                      of the 
                          Securities Exchange Act of 1934
  
  Date of Report (Date of earliest event reported):   July 31, 1995 
                                                     --------------
  
                                THE PARKWAY COMPANY
  ------------------------------------------------------------------
              (Exact name of Registrant as specified in its charter)
  
  Texas                      0-12505                   74-2123597
  ------------------------------------------------------------------
  (State or other      Commission File Number)       (IRS Employer
  jurisdiction of                                    Identification
  incorporation)                                         Number)
  
  300 One Jackson Place, 188 E. Capitol St., Jackson, MS  39201    
  -------------------------------------------------------------------
  (Address of principal executive offices)              (Zip Code)  
  
  Registrant's telephone number, including area code  (601) 948-4091
                                                    ----------------
  
              
  -------------------------------------------------------------------
           (Former name or former address,if changed since last report)
  
                                     FORM 8-K
  
                                THE PARKWAY COMPANY
  
  Item 2.     Acquisition or Disposition of Assets.
  
                    On July 31, 1995, The Parkway Company ("Parkway")
              purchased the Security Centre' office complex in Jackson,
              Mississippi from the Resolution Trust Corporation as
              receiver for Security Federal Savings and Loan
              Association for $13,500,000.  Upon acquisition, the
              buildings were renamed Mtel Centre'.  Mtel Centre' is an
              office building complex consisting of 260,000 net
              rentable square feet in two buildings and 130 parking
              spaces located in the central business district of
              Jackson.  The buildings are currently 96% leased. 
              Parkway funded the acquisition with cash balances of
              $4,270,000 and $8,740,000 drawn under two lines of credit
              with Deposit Guaranty National Bank.  The lines of credit
              have a combined limit of $12,000,000 and accrue interest
              based on the 90-day LIBOR (London Interbank Offered Rate)
              rate plus 1.85%.  One line of credit with a limit of
              $10,000,000 matures on June 30, 1996.  The second line of
              credit with a limit of $2,000,000 matures on August 15,
              1995.  Deposit Guaranty National Bank has committed to
              loan the Company $10,000,000 under a term loan secured by
              the Mtel Centre' which will have an interest rate of the
              banks prime lending rate and will mature 18 months from
              the date of the loan closing.  The Company expects to
              repay amounts outstanding under the two lines of credit
              from the proceeds of the $10,000,000 term loan.  The term
              loan is expected to close prior to August 31, 1995 and
              the Company expects the $2,000,000 line of credit to be
              extended until the term loan is funded.  The Jackson
              Downtown Class A office market has a current vacancy rate
              of approximately 5%.  Jackson-based Mobile
              Telecommunication Technologies Corp. (Mtel), a leader in
              the telecommunications industry, currently occupies
              approximately 122,000 square feet in the building under
              a ten-year lease that expires in July 2005.
  
  Item 7.     Financial Statements and Exhibits.
  
                    (a)   Financial Statements of Mtel Centre'
  
                    It is impractical to provide the audited financial
              statements of Mtel Centre' required by Item 7(a) of Form
              8-K, but such financial statements will be filed as soon
              as practical but not later than 60 days after the filing
              of this Form 8-K.
  
                    (b)   Pro Forma Consolidated Financial Statements.
        
                    The pro forma consolidated financial statements will
              be filed with the audited financial statements of Mtel
              Centre'.
  
                    (c)   Exhibits.
  
                                     FORM 8-K
  
                                THE PARKWAY COMPANY
  
                                    SIGNATURES
  
              Pursuant to the requirements of the Securities Exchange
  Act of 1934, the Registrant has duly caused this report to be
  signed on its behalf by the undersigned hereunto duly authorized.
  
  DATED:      August 14, 1995
  
                                     THE PARKWAY COMPANY
  
                                   BY:
                                       ------------------------------ 
                                       Sarah P. Clark, Vice President
                                       and Chief Financial Officer