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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. 1*)
Wackenhut Corrections
- ------------------------------------------
(Name of Issuer)
Common Stock
- ------------------------------------------
(Title of Class of Securities)
929798106
- ------------------------------------------
(CUSIP Number)
Check the following box if a fee is being
paid with this statement. [ ]
1. Name of Reporting Person(s) CoreStates
Financial Corp
SSN or IRS Identification
No (s) of Above Person(s) 23-1899716
2. Check the Appropriate Box
If a Member of a Group
(See Instructions) [ X ]
3. SEC Use Only
4. Citizenship or Place of
Organization Pennsylvania
Number of Shares Beneficially
Owned by Each Reporting Person with
5. Sole Voting Power 12,000,200
6. Shared Voting Power -0-
7. Sole Dispositive Power -0-
8. Shared Dispositive Power -0-
9. Aggregate Amount Beneficially
Owned by Each Reporting Person 12,000,200
10. Check if the Aggregate Amount
in Row 9 Excludes Certain Shares
(See Instructions)
11. Percent of Class Represented by
Amount in Row 9 54.7055%
12. Type of Reporting Person(s)
(See Instructions) HC-BK
Item 1.
(a) Name of Issuer Wackenhut Corrections
(b) Address of Issuer's Principal Executive Offices
1500 San Remo Avenue
Coral Gables, FL 33146
Item 2.
(a) Name of Person Filing: CoreStates Financial Corp.
(b) Address of Principal Business Office or,
if none, Residence
Broad & Chestnut Streets
Philadelphia
(c) Citizenship Pennsylvania
(d) Title of Class of Securities
(e) CUSIP Number 775371107
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 Adviser registered under
Section 203 of the Investment Advisers
Act of 1940.
(f) [ ] Employee Benefit Plan, Pension Fund,
which is subject to the provisions of
the Employee Retirement Income Securities
Act of 1974, or Endowment Fund.
(g) [X] Parent Holding Company, in accordance with
Section 240.13-1(b) (1) (ii) (H).
(h) [ ] Group, in accordance with Section
240.13d-1(b) (1) (ii) (H).
Item 4. Ownership
As of December 31, 1996, the reporting person
filing this statement through its wholly owned
subsidiary, CoreStates Bank, N.A., beneficially
owned the following amounts and percentages of
securities of the above named issuer:
(a) Amount Beneficially Owned 12,000,200
(b) Percent of Class 54.7055%
(c) Number of Shares as to which
such person has the:
(i) sole power to vote or to
direct the vote 12,000,200
(ii) shared power to vote or
to direct the vote -0-
(iii) sole power to dispose or
to direct the
disposition of -0-
(iv) shared power to dispose or
to direct the disposition of -0-
Item 5. Ownership of Five Percent or Less
of a Class N/A
Item 6. Ownership of More then Five Percent
on Behalf of Another Person
CoreStates Bank, N.A., New Jersey
National Bank and Meridian Bank hold
the options reported above under various
trust and custodial arrangements.
Item 7. Identification and Classification of the
Subsidiary which Acquired the Security
Being Reported on By the Parent Holding
Company
CoreStates Bank, N.A., a bank as defined
in Section 3(a) (6) of the Act.
Item 8. Identification and Classification
of Members of the Group N/A
Item 9. Notice of Dissolution of Group N/A
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 effect of changing or influencing the
control of the issuer of participant in any
transaction have such purposes or effect.
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.
Date: February 6, 1997
Dennis Haynes, Compliance Manager - VP