U.S. SECURITIES AND EXCHANGE COMMISSION
                     WASHINGTON, D.C.  20549

                            FORM 10-Q

        QUARTERLY REPORT PURSUANT TO SECTION 13 or 15 (d)
              OF THE SECURITIES EXCHANGE ACT OF 1934

For Quarter Ended April 30, 1996     Commission File Number 1-566

                      GREIF BROS.CORPORATION
                                                                
      (Exact name of registrant as specified in its charter)

                   Delaware                    31-4388903         
     (State or other jurisdiction of        (I.R.S. Employer
      incorporation or organization)         Identification No.)

            621 Pennsylvania Avenue, Delaware, Ohio      43015    
           (Address of principal executive offices)   (Zip Code)

Registrant's telephone number, including area code 614-363-1271   

                         Not Applicable
Former name, former address and former fiscal year, if changed
since last report.

Indicate by check mark whether the registrant (1) has filed all
reports required to be filed by Section 13 or 15 (d) of the
Securities Exchange Act of 1934 during the preceding 12 months
(or for such shorter period that the registrant was required to
file such reports) and (2) has been subject to such filing
requirements for the past 90 days.  Yes  X  .  No     .

Indicate the number of shares outstanding of each of the issuer's
classes of common stock as of the close of the period covered by
this report:

              Class A Common Stock 10,873,172 shares
              Class B Common Stock 12,001,793 shares

PART I.   FINANCIAL INFORMATION

                          GREIF BROS. CORPORATION AND SUBSIDIARY COMPANIES

                                 CONSOLIDATED STATEMENTS OF INCOME

                          (Dollars in thousands, except per share amounts)

                                 Three Months             Six Months
                                 Ended April 30,          Ended April 30,
                                 1996        1995         1996        1995  
                                                           
Net sales                        $159,212    $184,869     $318,955    $354,927
Other income:
  Interest and other                1,173       1,294        2,028       2,631
  Gain on timber sales              1,106       1,691        2,997       4,717

                                  161,491     187,854      323,980     362,275

Costs and expenses 
   (including depreciation of
   $13,063 in 1996 and $11,369 
   in 1995):
  Cost of products sold           133,161     146,900      260,595     279,558
  Selling, general and 
   administrative                  17,481      17,583       34,766      34,242
  Interest                            270         290          514         716

                                  150,912     164,773      295,875     314,516

Income before income taxes         10,579      23,081       28,105      47,759
Taxes on income                     4,000       8,200       10,700      17,500

Net income                       $  6,579    $ 14,881     $ 17,405    $ 30,259

Net income per share (based on the average number of shares outstanding 
during the period):

   Based on the assumption that earnings were allocated to Class A and 
Class B Common Stock to the extent that dividends were actually paid for 
the year and the remainder were allocated as they would be received by 
shareholders in the event of liquidation, that is, equally to Class A and 
Class B shares, share and share alike:

Class A Common Stock                $ .27       $ .60        $ .68       $1.18
Class B Common Stock                $ .31       $ .63        $ .83       $1.31

   Due to the special characteristics of the Company's two classes of 
stock (see Note 1), earnings per share can be calculated upon the basis of 
varying assumptions, none of which, in the opinion of management, would be 
free from the claim that it fails fully and accurately to represent the 
true interest of the shareholders of each class of stock and in the 
retained earnings.

See accompanying Notes to Consolidated Financial Statements.

           GREIF BROS. CORPORATION AND SUBSIDIARY COMPANIES
                                    
                       CONSOLIDATED BALANCE SHEETS
                                    
                         (Dollars in thousands)

 ASSETS

                                                       April 30,   October 31,
                                                       1996        1995    
                                                              
CURRENT ASSETS
  Cash and cash equivalents                            $ 34,200    $ 31,612
  Canadian government securities                         18,670      18,981
  Trade accounts receivable--less allowance
   of $789 for doubtful items                            65,047      76,950
  Inventories, at the lower of cost (prin-
   cipally last-in, first-out) or market                 43,546      53,876
  Prepaid expenses and other                             16,201      16,482

 Total current assets                                   177,664     197,901

LONG TERM ASSETS
  Cash surrender value of life insurance                  3,029       2,838
  Interest in partnership                                   -0-       1,091
  Other long term assets                                  7,093       6,977

                                                         10,122      10,906

PROPERTIES, PLANTS AND EQUIPMENT--at cost
  Timber properties--less depletion                       5,059       4,518
  Land                                                   11,000      11,014
  Buildings                                             120,153     104,892
  Machinery, equipment, etc.                            332,903     319,785
  Construction in progress                               46,291      42,102
  Less accumulated depreciation                        (236,864)   (223,456)

                                                        278,542     258,855

                                                       $466,328    $467,662
 LIABILITIES AND SHAREHOLDERS' EQUITY

CURRENT LIABILITIES
 Accounts payable                                     $ 27,406    $  35,935
 Current portion of long term obligations                  358          264
 Accrued payrolls and employee benefits                  9,239       10,882
 Accrued taxes--general                                  1,312        1,954
 Taxes on income                                           -0-          126

 Total current liabilities                              38,315       49,161

LONG TERM OBLIGATIONS (interest rates from
 4.81% - 8.00%; payable to 2002)                        14,716       14,101

OTHER LONG TERM LIABILITIES                             16,918       18,305

DEFERRED INCOME TAXES                                   17,215       13,562

 Total long term liabilities                            48,849       45,968

SHAREHOLDERS' EQUITY (Note 1)
 Capital stock, without par value                        9,034        9,034
  Class A Common Stock:
    Authorized 32,000,000 shares;
      issued 21,140,960 shares;
      outstanding 10,873,172 shares
  Class B Common Stock:
    Authorized and issued 17,280,000 shares;
      outstanding 12,001,793 shares
       (13,201,793 in 1995)

  Treasury Stock, at cost                              (41,867)    (40,776)
    Class A Common Stock: 10,267,788 shares
    Class B Common Stock:  5,278,207 shares
       (4,078,207 in 1995)

 Retained earnings                                     415,949     407,665

 Cumulative translation adjustment                      (3,952)     (3,390)

                                                       379,164     372,533

                                                      $466,328    $467,662

See accompanying Notes to Consolidated Financial Statements.

           GREIF BROS. CORPORATION AND SUBSIDIARY COMPANIES

                CONSOLIDATED STATEMENTS OF CASH FLOWS 

                        (Dollars in thousands)

        For the six months ended April 30,              1996       1995    
                                                             
Cash flows from operating activities:

Net income                                               $17,405   $30,259
Adjustments to reconcile net income to net cash
 provided by operating activities:
  Depreciation and depletion                              13,063    11,369
  Deferred income taxes                                    3,659     2,830
  (Increase) decrease:
  Trade accounts receivable                               11,903    (7,257)
  Inventories                                             10,330   (14,861)
  Prepaid expenses and other                                 281    (1,486)
  Other long term assets                                    (307)     (862)
  Increase (decrease):
  Accounts payable                                        (8,529)    1,486
  Accrued payrolls and employee benefits                  (1,643)     (599)
  Accrued taxes - general                                   (642)     (669)
  Taxes on income                                           (126)     (713)
  Other long term liabilities                             (1,387)    3,173

  Net cash provided by operating activities               44,007    22,670

Cash flows from investing activities:

Sales (purchases) of investments in government
  securities                                                 311     4,034
Purchase of properties, plants and equipment             (32,838)  (17,231)

  Net cash used by investing activities                  (32,527)  (13,197) 

Cash flows from financing activities:

(Payments) proceeds on long term debt                        709    (7,949)
Acquisition of treasury stock                                -0-    (1,267)
Dividends paid                                            (9,120)   (8,499)

  Net cash used by financing activities                   (8,411)  (17,715)

Foreign currency translation adjustment                     (481)        3

Net increase (decrease) in cash and 
  cash equivalents                                         2,588    (8,239)
Cash and cash equivalents at beginning 
  of period                                               31,612    29,543

Cash and cash equivalents at end of period               $34,200   $21,304

See accompanying Notes to Consolidated Financial Statements.

         GREIF BROS. CORPORATION AND SUBSIDIARY COMPANIES
            NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                          APRIL 30, 1996

NOTE 1 - CAPITAL STOCK AND RETAINED EARNINGS

       Class A Common Stock is entitled to cumulative dividends
of 1 cent a share per year after which Class B Common Stock is
entitled to non-cumulative dividends up to 1/2 cent a share per
year.  Further distribution in any year must be made in
proportion of 1 cent a share for Class A Common Stock to 1-1/2
cents a share for Class B Common Stock.  The Class A Common Stock
shall have no voting power nor shall it be entitled to notice of
meetings of the stockholders, all rights to vote and all voting
power being vested exclusively in the Class B Common Stock unless
four quarterly cumulative dividends upon the Class A Common Stock
are in arrears.  There is no cumulative voting.

NOTE 2 - DIVIDENDS PER SHARE

       The following dividends per share were paid during the
period indicated, 

                                Three Months         Six Months 
                               Ended April 30,      Ended  April 30,
                               1996       1995      1996       1995
                                                    
        Class A Common Stock   $.08       $.06      $.32       $.28
        Class B Common Stock   $.12       $.09      $.47       $.41

NOTE 3 - CALCULATION OF NET INCOME PER SHARE

       Net income per share was calculated using the following
number of shares for the periods presented:

                              Three Months      Six Months
                             Ended April 30,   Ended April 30,   

        Class A Common Stock 10,873,172 shares 10,873,172 shares
        Class B Common Stock 12,001,793 shares 12,041,793 shares

NOTE 4 - INVENTORIES

       Inventories are comprised principally of raw materials.

NOTE 5 - TREASURY SHARES ACQUIRED

       Effective November 6, 1995, Macauley & Company (the
Partnership) in which the Company was a limited partner, was
liquidated.  Prior to the liquidation, the Partnership held Class
B Common Stock (2,400,000 shares) of the Company.  Upon
liquidation, the Company received 1,200,000 shares of the Class B
Common Stock.  The Company recorded the liquidation by crediting
interest in partnership and charging an equal amount to treasury
stock.

               MANAGEMENT'S DISCUSSION AND ANALYSIS

Results of Operations

       Historically, revenues or earnings may or may not be
representative of future operations because of various economic
factors.  The following comparative information is presented for
the 6-month periods ended April 30, 1996 and April 30, 1995.

       Net sales decreased 10% during the current period
compared to the previous period.  This decrease was principally
the result of decreases in the container-board segment, which was
significantly affected by lower sales prices of the products in
this segment.

       The gain on sales of timber and timber properties
decreased due to less salvage timber sales.  In addition, timber
properties were sold to the U.S. Forest Service in the prior
year.

       The cost of products sold as a percentage of sales
increased from 78.8% in 1995 to 81.7% in 1996.  The profit
margins of the containerboard segment were lower as compared to
the previous period due to a reduction in the sales prices of its
products without a corresponding reduction in its costs.

Liquidity and Capital Resources

       As indicated in the Consolidated Balance Sheet, elsewhere
in this report and discussed in greater detail in the 1995 Annual
Report to Shareholders, the Company is dedicated to maintaining a
strong financial position.  It is our belief that this dedication
is extremely important during all economic times.

       As discussed in the 1995 Annual Report, the Company is
subject to the economic conditions of its customers.  During this
period, the Company has been able to utilize its developed
financial position to meet its continued business needs.

       The current ratio as of April 30, 1996 is an indication
of the continuation of the Company's strong liquidity.

       The reduction in trade accounts receivable since year-end
is due to lower sales during the second quarter of fiscal 1996
compared to the fourth quarter of fiscal 1995.  Inventory and
accounts payable balances are lower primarily due to a decrease
in certain raw material prices.

       The increase in buildings is the result of completing a
manufacturing plant in Mason, Michigan.  The increase in
construction in progress is primarily due to the mill
modernization program in Virginia, offset by the completion of
the plant in Michigan.

       Capital expenditures were $32,837,000 during the six
months ended April 30, 1996.  These capital expenditures were
principally needed to replace and improve equipment.

       The Company has approved future purchases, primarily for
equipment, of approximately $40 million.  Self-financing and low
interest rate borrowing has been the primary source for financing
such capital expenditures.

PART II.  OTHER INFORMATION

ITEM 1.  LEGAL PROCEEDINGS

       There are no material pending legal proceedings.

ITEM 6.  EXHIBITS AND REPORTS ON FORM 8-K

       (a.) Exhibits.
            None.

       (b.) Reports on Form 8-K.
            No events occurred requiring Form 8-K to be filed.

                          OTHER COMMENTS

       The information furnished herein reflects all adjustments
which are, in the opinion of management, necessary for a fair
presentation of the consolidated balance sheet as of April 30,
1996, the consolidated statements of income for the 6-month
periods ended April 30, 1996 and 1995, and the consolidated
statements of cash flows for the 6-month periods then ended. 
These financial statements are unaudited; however, at year-end an
audit will be made for the fiscal year by our independent
accountants.

                            SIGNATURES

       Pursuant to the requirements of the Securities Exchange
Act of 1934, the Company has duly caused this report to be signed
on its behalf by the undersigned thereunto duly authorized.

                                  Greif Bros. Corporation        
                                      (Registrant)

Date   June 7, 1996                   John K. Dieker
                                       Controller

  

 5

This schedule contains summary financial information extracted from the Form
10-Q and is qualified in its entirety by reference to such Form 10-Q.

 1,000

                   6-MOS
                          OCT-31-1996
                               APR-30-1996
                                          34,200
                                    18,670
                                   65,836
                                     (789)
                                     43,546
                               177,664
                                         515,406
                               (236,864)
                                 466,328
                           38,315
                                              0
                                0
                                          0
                                         9,034
                                     370,130
                   466,328
                                        318,955
                               323,980
                                          260,595
                                  260,595
                                34,766
                                     0
                                 514
                                 28,105
                                    10,700
                             17,405
                                       0
                                      0
                                            0
                                    17,405
                                      .68
                                      .68

Amount represents the earnings per share for the Class A Common Stock.  The
earnings per share for the Class B Common Stock are $.83.