Exhibit 11
<TABLE>
<CAPTION>

                                           JAMES RIVER CORPORATION of Virginia

                                            COMPUTATION OF EARNINGS PER SHARE
                               For the Quarters (13 Weeks) and Six Months (26 Weeks) Ended
                                             June 29, 1997 and June 30, 1996
                                         (in millions, except per share amounts)

                                                                       Second Quarter                     Six Months
                                                                 ----------------------------   ----------------------------
PRIMARY:                                                                  1997          1996             1996          1996
----------------------------------------------------------------------------------------------------------------------------
<S>                                                                     <C>           <C>             <C>            <C>  
Net earnings applicable
 to common shares                                                        $82.7         $15.9           $122.0         $21.7
============================================================================================================================

Weighted average number of common
  shares and common share equivalents:

  Common shares outstanding                                               86.5          85.0             86.4          85.0

  Assumed conversion of convertible preferred stock                       15.3                           15.3

  Issuable upon exercise of outstanding
    stock options and pursuant to a
    deferred stock award plan                                              3.3           2.0              3.4           2.0

  Less assumed acquisition of common
    shares, using proceeds from stock
    options and the impact of a deferred
    stock award plan, under the treasury
    stock method                                                          (2.4)         (1.5)            (2.5)         (1.5)
----------------------------------------------------------------------------------------------------------------------------

                                                                         102.7          85.5            102.6          85.5
============================================================================================================================

Primary earnings per common share                                         $.81          $.18            $1.19          $.25
============================================================================================================================
</TABLE>

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<PAGE>

Exhibit 11 (continued)
<TABLE>
<CAPTION>

                                           JAMES RIVER CORPORATION of Virginia

                                            COMPUTATION OF EARNINGS PER SHARE
                               For the Quarters (13 Weeks) and Six Months (26 Weeks) Ended
                                             June 29, 1997 and June 30, 1996
                                         (in millions, except per share amounts)

                                                                    Second Quarter                    Six Months
                                                            ------------------------------- -------------------------------
FULLY DILUTED:                                                        1997            1996             1997           1996
---------------------------------------------------------------------------------------------------------------------------
<S>                                                                  <C>             <C>             <C>             <C>  
Net earnings applicable
  to common shares                                                   $88.7           $15.9           $122.0          $21.7
===========================================================================================================================

Weighted average number of common
  shares and common share equivalents:

  Common shares outstanding                                           86.5            85.0             86.4           85.0

  Assumed conversion of convertible preferred stocks                  27.5                             17.9

  Issuable upon exercise of outstanding
    stock options and pursuant to a
    deferred stock award plan                                          3.8             2.1              3.9            2.1

  Less assumed acquisition of common
    shares, using proceeds from stock
    options and the impact of a deferred
    stock award plan, under the treasury
    stock method                                                      (2.6)           (1.6)            (2.6)          (1.6)
---------------------------------------------------------------------------------------------------------------------------

                                                                     115.2            85.5            105.6           85.5
===========================================================================================================================

Fully diluted earnings per common share                               $.78            $.18            $1.16           $.25
===========================================================================================================================

</TABLE>

                                       22
<PAGE>

                                                  Exhibit 11 (continued)

                                           JAMES RIVER CORPORATION of Virginia

                                            NOTES TO COMPUTATIONS OF EARNINGS
                                                        PER SHARE


     Primary earnings per common share is computed by dividing net income, after
deducting  dividends on outstanding  preferred  shares,  by the weighted average
number of common shares and dilutive common share equivalents outstanding during
the period.  Common share  equivalents  consist of shares  issuable  pursuant to
stock  options  and a deferred  stock award plan,  and are  calculated  using an
average market price for the period.  Common share  equivalents also include the
assumed conversion of the Company's Series P 9% Cumulative Convertible Preferred
Stock, if dilutive.

     Fully diluted  earnings per common share is computed  using the same method
as for the primary  computation  except that (i) common  share  equivalents  are
computed  using the higher of the  market  price at the end of the period or the
average  market  price for the  period,  and (ii) the  average  number of common
shares and dilutive  common share  equivalents  outstanding  is increased by the
assumed  conversion,  if dilutive,  of the Company's Series K $3.375  Cumulative
Convertible  Exchangeable  Preferred  Stock,  its  Series  L  $14.00  Cumulative
Convertible  Exchangeable  Preferred  Stock,  its  Series  N  $14.00  Cumulative
Convertible  Exchangeable  Preferred  Stock,  and  its  Series  P 9%  Cumulative
Convertible Preferred Stock ("Series P"). Dilutive conversions have been assumed
for all of the Company's convertible preferred stocks for the second quarter and
for its Series P for the six months both ended June 29, 1997. No  conversions of
any of the convertible preferred stocks have been assumed for the quarter or six
months ended June 30, 1996, as such conversions were not dilutive.

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