FORM 10-Q

                      SECURITIES AND EXCHANGE COMMISSION

                            Washington, D. C. 20549


[  X ]  QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
EXCHANGE ACT OF 1934

 For the quarterly period ended   January 31, 1999

[   ]  TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
EXCHANGE ACT OF 1934

For the transition period from ________________ to  ________________

                         Commission file number 1-3647

                                J.W. Mays, Inc.
            (Exact name of registrant as specified in its charter)

           New York                          11-1059070
     (State or other jurisdiction of        (I.R.S. Employer
      incorporation or organization)         Identification No.)

9 Bond Street,  Brooklyn,  New York            11201-5805
(Address of principal executive offices)       (Zip Code)

(Registrant's telephone number, including area code) 718-624-7400

                                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      .

Number of shares outstanding of the issuer's common stock as of the latest
practicable date.

        Class                                Outstanding at March 5, 1999
Common Stock,  $1 par value                       2,135,780 shares

                                             This report contains 17 pages.
<PAGE>
                               J. W. MAYS,  INC.

                                     INDEX





                                                            Page No.


Part I  -   Financial Information:

          Consolidated Balance Sheet                          3

          Consolidated Statement of Income
            and Retained Earnings                             4

          Consolidated Statement of Comprehensive Income      4

          Consolidated Statement of Cash Flows                5

          Notes to the Consolidated Financial Statements      6 - 12

          Management's Discussion and Analysis of Results
            of Operations and Financial Condition             13 - 15


Part II  -  Other Information                                 16
<PAGE>
<TABLE>

<CAPTION>
                       J.  W.  MAYS,  INC.
                   CONSOLIDATED BALANCE SHEET
                                                                     January 31,       July 31,
                             ASSETS                                     1999             1998
 --------------------------------------------------------------- ---------------  ---------------
                                                                    (Unaudited)       (Audited)

<S>                                                                <C>              <C>
Property and Equipment - Net (Notes 6 and 8)                        $28,414,437      $28,241,056
                                                                   -------------    -------------

Current Assets:
  Cash and cash equivalents                                           1,277,355        1,047,979
  Marketable securities  (Note 5)                                       138,908          137,721
  Receivables (note 9)                                                  270,140          461,770
  Income taxes refundable                                                16,727              -
  Deferred income taxes                                                  85,000          100,000
  Security deposits                                                         -              8,540
  Prepaid expenses                                                      829,832          953,728
                                                                   -------------    -------------
       Total current assets                                           2,617,962        2,709,738
                                                                   -------------    -------------

Other Assets:
  Deferred charges                                                    2,795,181        2,793,022
  Less accumulated amortization                                       1,264,449        1,186,957
                                                                   -------------    -------------
       Net                                                            1,530,732        1,606,065
  Security deposits                                                     622,518          615,107
  Unbilled receivables (note 9)                                       4,216,510        4,017,915
  Unbilled receivables - affiliated company (note 9)                    636,781          727,750
  Receivables                                                            71,765          180,311
  Receivables - affiliated company (note 9)                                 -             87,943
  Marketable securities  (Note 5)                                     3,390,261        3,189,039
                                                                   -------------    -------------
       Total other assets                                            10,468,567       10,424,130
                                                                   -------------    -------------


        TOTAL ASSETS                                                $41,500,966      $41,374,924
                                                                   =============    =============

              LIABILITIES AND SHAREHOLDERS ' EQUITY
 ---------------------------------------------------------------

Long-Term Debt:
  Mortgages payable (Note 6)                                         $5,140,495       $7,814,161
  Other (Note 7)                                                        534,351          581,673
                                                                   -------------    -------------
       Total long-term debt                                           5,674,846        8,395,834
                                                                   -------------    -------------

Deferred Income Taxes                                                 1,526,000        1,293,000
                                                                   -------------    -------------

Current Liabilities:
  Accounts payable                                                       59,454           42,782
  Payroll and other accrued liabilities                                 469,661          559,344
  Income taxes payable                                                      -             82,348
  Other taxes payable                                                     3,153            1,907
  Current portion of long-term debt - mortgages payable (Note 6)      3,092,936          827,672
  Current portion of long-term debt - other (Note 7)                    104,000          112,540
                                                                   -------------    -------------
       Total current liabilities                                      3,729,204        1,626,593
                                                                   -------------    -------------

       Total liabilities                                             10,930,050       11,315,427
                                                                   -------------    -------------

Shareholders' Equity:
  Common stock, par value $1 each share (shares - 5,000,000
    authorized; 2,178,297 issued)                                     2,178,297        2,178,297
  Additional paid in capital                                          3,346,245        3,346,245
  Unrealized gain on available for sale securities                      305,854          292,879
  Retained earnings                                                  25,030,622       24,532,178
                                                                   -------------    -------------
                                                                     30,861,018       30,349,599
  Less common stock held in treasury, at cost - 42,517
    shares at January 31, 1999 and  July 31, 1998                       290,102          290,102
                                                                   -------------    -------------
       Total shareholders' equity                                    30,570,916       30,059,497
                                                                   -------------    -------------

Contingencies (Note 13)

       TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY                   $41,500,966      $41,374,924
                                                                   =============    =============

See Notes to the Consolidated Financial Statements.



</TABLE>
<PAGE>
<TABLE>



<CAPTION>

                           J.  W. MAYS, INC.

       CONSOLIDATED STATEMENT OF INCOME AND RETAINED EARNINGS



                                                                       Three Months Ended                Six Months Ended
                                                                           January 31,                       January 31,
<S>                                                             <C>              <C>              <C>              <C>
                                                                --------------- ----------------  --------------- ----------------
                                                                     1999            1998              1999            1998
                                                                --------------  --------------    --------------  --------------
                                                                 (Unaudited)     (Unaudited)       (Unaudited)     (Unaudited)

Revenues
  Rental income (Note 9)                                            $2,521,114      $2,577,520        $5,097,616      $5,115,702

  Rental income - affiliated company                                   103,402         103,402           206,805         206,805

  Recovery of real estate taxes                                            -           123,809               -           283,085
                                                                 --------------  --------------    --------------  --------------
      Total revenues                                                 2,624,516       2,804,731         5,304,421       5,605,592
                                                                 --------------  --------------    --------------  --------------


Expenses
  Real estate operating expenses                                     1,405,044       1,446,866         2,720,181       2,793,243
  Administrative and general expenses                                  541,826         477,488         1,061,325       1,006,025
  Bad debts (recovery) (Note 13)                                           -           (41,453)              -           (41,453)
  Depreciation and amortization                                        254,369         255,108           500,572         504,216
                                                                 --------------  --------------    --------------  --------------
       Total expenses                                                2,201,239       2,138,009         4,282,078       4,262,031
                                                                 --------------  --------------    --------------  --------------
Income  from operations before investment income,
  interest expense and income taxes                                    423,277         666,722         1,022,343       1,343,561
                                                                 --------------  --------------    --------------  --------------
Investment income and interest expense:
  Investment income                                                     75,561          58,429           139,659         132,632
  Interest expense (Notes 6 and 11)                                   (175,709)       (202,401)         (348,558)       (418,432)
                                                                 --------------  --------------    --------------  --------------
                                                                      (100,148)       (143,972)         (208,899)       (285,800)
                                                                 --------------  --------------    --------------  --------------

Income before income taxes                                             323,129         522,750           813,444       1,057,761
Income taxes provided                                                  146,000         196,000           315,000         386,000
                                                                 --------------  --------------    --------------  --------------
Net income                                                             177,129         326,750           498,444         671,761

Retained earnings, beginning of period                              24,853,493      23,039,456        24,532,178      22,694,445
                                                                 --------------  --------------    --------------  --------------
Retained earnings, end of period                                   $25,030,622     $23,366,206       $25,030,622     $23,366,206
                                                                 ==============  ==============    ==============  ==============

Net income per common share (Note 2)                                      $.08            $.15              $.23            $.31
                                                                 ==============  ==============    ==============  ==============

Dividends per share                                                       $-              $-                $-              $-
                                                                 ==============  ==============    ==============  ==============

Weighted average common shares outstanding                           2,135,780       2,135,780         2,135,780       2,135,780
                                                                 ==============  ==============    ==============  ==============


See Notes to the Consolidated Financial Statements.




                                          CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME

                                                                        Three Months Ended                Six Months Ended
                                                                            January 31,                       January 31,
                                                                  --------------- ----------------  --------------- ---------------
                                                                       1999            1998              1999            1998
                                                                   --------------  --------------    --------------  --------------
                                                                    (Unaudited)     (Unaudited)       (Unaudited)     (Unaudited)

Net Income                                                              $177,129        $326,750          $498,444        $671,761
                                                                   --------------  --------------    --------------  --------------

Other comprehensive income, net of tax (Note 4)

   Unrealized gain (loss) on available-for-sale securities:
     Net of taxes of $17,000 and $19,000 for the three months
     ended January 31, 1999 and 1998, respectively,
     and $6,000 and $17,000 for the six months ended
     Janurary 31, 1999 and 1998, respectively.
                                                                          71,880          36,429            12,975          32,525


    Less: reclassification adjustment                                     (8,366)         13,481            (8,366)         13,481
                                                                   --------------  --------------    --------------  --------------
        Other comprehensive income                                        63,514          49,910             4,609          46,006
                                                                   --------------  --------------    --------------  --------------
Comprehensive Income                                                    $240,643        $376,660          $503,053        $717,767
                                                                   --------------  --------------    --------------  --------------


See Notes to the Consolidated Financial Statements.
                                                                       -4-
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
                       J.  W.  MAYS,  INC.

              CONSOLIDATED STATEMENT OF CASH FLOWS


                                                                         Six Months Ended
                                                                            January 31,
                                                                  --------------   ---------------
                                                                         1999             1998
                                                                  --------------   ---------------
<S>                                                               <C>              <C>
                                                                   (Unaudited)      (Unaudited)

Cash Flows From Operating Activities:
Net income                                                             $498,444         $671,761

Adjustments to reconcile income to
 net cash provided by operating activities:
  Amortization of premium on marketable debt securities                    (333)            (333)
  Realized (gain) loss on marketable securities                          (8,366)          13,481
  Depreciation and amortization                                         500,572          504,216
  Amortization of deferred expenses                                     110,910          139,948
  Other assets - deferred expenses                                      (35,577)         (84,255)
                      - unbilled receivables                           (198,595)        (183,059)
                      - unbilled receivables - affiliated company        90,969           90,969
                      - receivables                                     108,546           99,731
                      - receivables - affiliated company                 87,943           73,776
  Deferred income taxes                                                 242,000          322,000

Changes in:
  Receivables                                                           191,630          281,881
  Prepaid expenses                                                      123,896         (183,839)
  Real estate taxes refundable                                              -           (267,972)
  Income taxes refundable                                               (16,727)             -
  Accounts payable                                                       16,672           33,550
  Payroll and other accrued liabilities                                 (89,683)         479,126
  Income taxes payable                                                  (82,348)          (4,568)
  Other taxes payable                                                     1,246              729
                                                                   -------------    -------------
     Cash provided by operating activities                            1,541,199        1,987,142
                                                                   -------------    -------------

Cash Flows From Investing Activities:
  Capital expenditures                                                 (673,953)        (566,789)
  Security deposits                                                       1,129          (29,901)
  Marketable securities: available for sale
    Receipts from sales or maturities                                   150,874           86,524
    Payments for purchases                                             (325,609)        (550,679)
                                                                   -------------    -------------
       Cash  (used) by investing activities                            (847,559)      (1,060,845)
                                                                   -------------    -------------

Cash Flows From Financing Activities:
  Borrowings - securities broker                                            -          1,680,299
  Payments   - securities broker                                            -         (1,367,857)
  Increase (decrease) - security deposits                                (3,862)          26,665
  Payments - mortgage and other debt                                   (460,402)        (434,274)
                                                                   -------------    -------------
      Cash (used) by financing activities                              (464,264)         (95,167)
                                                                   -------------    -------------

Increase in cash                                                        229,376          831,130

Cash and cash equivalents at beginning of period                      1,047,979          234,288
                                                                   -------------    -------------

Cash and cash equivalents at end of period                           $1,277,355       $1,065,418
                                                                   =============    =============

See Notes to the Consolidated Financial Statements.
                                                     -5-
</TABLE>
<PAGE>
                               J. W. MAYS,  INC.
                  NOTES TO CONSOLIDATED FINANCIAL STATEMENTS


1. Accounting Records:

   The accounting records are maintained in accordance with generally accepted
   accounting principles (GAAP).  The preparation of the Company's financial
   statements in accordance with GAAP, requires management to make estimates
   that affect the reported consolidated balance sheets, consolidated
   statements of income and retained earnings and consolidated statements of
   comprehensive income, and related disclosures.  Actual results could differ
   from those estimates.

   The interim financial statements are prepared pursuant to the requirements
   for reporting on Form 10-Q.  The July 31, 1998 balance sheet was derived
   from audited financial statements but does not include all disclosures
   required by GAAP.  The interim financial statements and notes thereto
   should be read in conjunction with the financial statements and notes
   included in the Company's latest Annual Report on Form 10-K for the year
   ended July 31, 1998.  In the opinion of management, the interim financial
   statements reflect all adjustments of a normal recurring nature necessary
   for a fair statement of the results for interim periods.  The results of
   operations for the current period are not necessarily indicative of the
   results for the entire year ending July 31, 1999.

2.   Income Per Share of Common Stock:

   Income per share has been computed by dividing the net income for the
   periods by the weighted average number of shares of common stock
   outstanding during the periods, adjusted for the purchase of treasury
   stock.  Shares used in computing income per share were 2,135,780 in each of
   the three and six month periods ended January 31, 1999 and January 31,
   1998.  In February, 1997, the Financial Accounting Standards Board issued
   Statement of Financial Standards No. 128 ("SFAS 128"), "Earnings Per
   Share", effective for periods ending after December 15, 1997.  The adoption
   of this accounting standard has had no effect on the consolidated financial
   statements.

3. Statement of Financial Standards No. 121:

   In May 1995, the Financial Accounting Standards Board issued Statement of
   Financial Standards No. 121 ("SFAS 121"), "Accounting for the Impairment of
   Long-Lived Assets and for Long-Lived Assets to be Disposed of", effective
   for fiscal years beginning after December 15, 1995.  SFAS 121 requires the
   recognition of an impairment loss related to long-lived assets and certain
   identifiable intangibles whenever events or changes in circumstances
   indicate that the carrying amount of an asset may not be recoverable.  The
   adoption of this accounting standard has had no effect on the consolidated
   financial statements.

4. Comprehensive Income:

   In June 1997, the Financial Accounting Standards Board issued Statement of
   Financial Standards No. 130 ("SFAS 130"), "Reporting Comprehensive Income".
   SFAS 130 establishes standards for the reporting of comprehensive income
   and its components.  It requires that all items that are required to be
   recognized under accounting standards as components of comprehensive income
   be reported in a financial statement that is displayed with the same
   prominence as other financial statements.  SFAS 130 is effective for
   financial statements for periods beginning after December 15, 1997.
   Reclassification of financial statements for earlier periods presented for
   comparative purposes is required upon adoption.

5. Marketable Securities:

   The Company categorizes marketable securities as either trading, available
   for sale or held to maturity.  Trading securities are carried at fair value
   with unrealized gains and losses included in income.  Available for sale
   securities are carried at fair value with unrealized gains and losses
   recorded as a separate component of shareholders' equity.  Held to maturity
   securities are carried at amortized cost.  Dividends and interest income
   are accrued as earned.

<TABLE>
<CAPTION>
Marketable Securities   (continued)


            As of January 31, 1999, the Company's marketable securities were classified as follows:


                                                                                   Gross            Gross
                                                                                Unrealized       Unrealized        Fair
                                                                    Cost           Gains           Losses          Value
<S>          <C>                                               <C>            <C>              <C>            <C>
                                                               -------------  -------------    -------------  -------------
  Current:
            Certificate of deposit                                   $39,198           $-               $-          $39,198
            Held to maturity:
              Corporate debt securities
                 due within one year                                  99,710            895              -          100,605
                                                                -------------  -------------    -------------  -------------
                   Total current                                    $138,908           $895             $-         $139,803
                                                                =============  =============    =============  =============

  Noncurrent:
            Available for sale:
              Equity securities                                   $2,947,407       $442,854             $-       $3,390,261
                                                                =============  =============    =============  =============






  Investment income consists of the following:
                                                                     Three Months Ended              Six Months Ended
                                                                         January 31,                     January 31,
                                                                ----------------------------    ----------------------------
                                                                   1999           1998             1999           1998
                                                                -------------  -------------    -------------  -------------
              Interest income                                        $17,948        $22,990          $39,074        $43,592
              Dividend income                                         49,243         48,920           92,219        102,521
             Gain  (Loss) on sale of securities                        8,370        (13,481)           8,366        (13,481)
                                                                -------------  -------------    -------------  -------------
                 Total                                               $75,561        $58,429         $139,659       $132,632
                                                                =============  =============    =============  =============












                                                                             -7-
</TABLE>
<PAGE>

6. Long-Term Debt:

<TABLE>

<CAPTION>
                                                                    January 31, 1999                   July 31, 1998
                                                            --------------------------------  ------------------------------
                                        Current
                                        Annual     Final           Due             Due               Due            Due
                                       Interest   Payment         Within          After             Within         After
                                         Rate      Date          One Year        One Year          One Year       One Year
                                        -------  --------    --------------  --------------    --------------  ------------
<S>                                <C> <C>       <C>         <C>             <C>               <C>

Mortgages:
  Jamaica, New York property       (a)  8 1/2 %    4/01/07         $266,666      $3,266,667          $266,666    $3,400,000
  Jowein building, Brooklyn, N.Y.  (b)      9 %    3/31/00           87,347         630,405            83,545       675,050
  Fishkill, New York property      (c)      9 %   11/01/99#       2,379,045               -           129,992     2,312,592
  Circleville, Ohio property       (d)      7 %    9/30/02          350,578       1,063,812           338,555     1,242,159
  Other                                 8 1/2 %    5/01/01            9,300         179,611             8,914       184,360
                                                              --------------  --------------    --------------  ------------
       Total                                                     $3,092,936      $5,140,495          $827,672    $7,814,161
                                                              ==============  ==============    ==============  ============
</TABLE>


(a)  The Company, on September 11, 1996, closed a loan with a bank in the
   amount of $4,000,000.  The loan is secured by a first mortgage lien covering
   the entire leasehold interest of the Company, as tenant, in a certain ground
   lease and building in the Jamaica property.  The loan proceeds were utilized
   by the Company toward (i) payment in full of the outstanding term loan by the
   Company, in favor of the same bank, in the amount of $1,500,000 plus
   interest,
   and (ii) its costs for the renovations to the portions of the premises in
   connection with the Company's sublease of a significant portion of the
   building.  Although the loan was closed on September 11, 1996 the entire
   $4,000,000 was not drawn down until March 31, 1997.  The interest rate on the
   loan is 8 1/2% for a period of five (5) years and six (6) months, with such
   rate to change on the first day of the sixty-seventh (67th) month of the term
   to a rate equal to the then prime rate plus 1/4%, fixed for the balance of
   the
   term.  The loan is to become due and payable on the first day of the month
   following the expiration of ten (10) years and six (6) months from the
   closing date.

(b)Mortgage is held by an affiliated corporation owned by members, including
   certain directors of the Company, of the family of the late Joe Weinstein,
   former Chairman of the Board of Directors.  Interest and amortization of
   principal are paid quarterly. Effective April 1, 1997, the maturity date of
   the mortgage which was scheduled to be on March 31, 1998, was extended to
   March 31, 2000.  The interest rate increased from 7 3/8% to 9% commencing
   April 1, 1997.  During the extended period there will be no change in the
   constant quarterly payments of interest and principal in the amount of
   $37,263.

(c)The mortgage loan matures November 1, 1999.  The annual interest rate is 9%
   and the principal and interest payments are made in constant monthly
   amounts based upon a fifteen (15) year payout period.

(d)The mortgage loan, which is self-amortizing, matures September 30, 2002.
   The loan is payable at an annual interest rate of 7%.  Under the terms of
   the loan, constant monthly payments, including interest and principal,
   commenced April 1, 1994 in the amount of $33,767, until October 1, 1997, at
   which time the monthly payments of interest and principal increased to
   $36,540.
<PAGE>
7.   Long-Term Debt - Other:

     Long-Term debt - Other consists of the following:


<TABLE>

<CAPTION>
                                                                   January 31, 1999                  July 31, 1998
                                                            -------------------------------  -------------------------------

                                                               Due Within       Due After       Due Within       Due After
                                                                One Year        One Year         One Year        One Year
                                                            --------------- ---------------  --------------- ---------------
<S>                                                          <C>             <C>              <C>             <C>

Deferred compensation  *                                          $104,000        $199,333         $104,000        $251,333
Lease security deposits  **                                            -           335,018            8,540         330,340
                                                              -------------   -------------    -------------   -------------
    Total                                                         $104,000        $534,351         $112,540        $581,673
                                                              =============   =============    =============   =============
</TABLE>


     * In fiscal 1964 the Company entered into a deferred compensation
       agreement with Max L. Shulman, its then Chairman of the Board.  This
       agreement, as amended, provides for a total of $520,000 to be paid in
       monthly installments of $8,666.67 for a period of 60 months, payable
       upon the expiration of his employment, retirement or permanent
       disability as defined in the agreement, or death.  Mr. Shulman retired
       as an employee on December 31, 1996 and the monthly payments commenced
       January, 1997.

     **Does not include three irrevocable letters of credit totaling $275,000
       at January 31, 1999 and at July 31, 1998, provided by three tenants as
       lease security deposits.


8.   Property and Equipment - at cost:



<TABLE>

<CAPTION>
                                                                    January 31,        July 31,
                                                                       1999             1998
                                                                ---------------  ---------------
<S>                                                              <C>              <C>
Property:
  Buildings and improvements                                       $36,560,884      $35,622,806
  Improvements  to  leased  property                                 9,143,369        9,143,369
  Land                                                               4,008,835        4,008,835
  Construction in progress                                              34,650          345,796
                                                                  -------------    -------------
                                                                    49,747,738       49,120,806
  Less accumulated depreciation                                     21,564,466       21,097,162
                                                                  -------------    -------------
     Property - net                                                 28,183,272       28,023,644
                                                                  -------------    -------------

Fixtures and equipment and other:
  Fixtures and equipment                                               567,057          539,422
  Other fixed assets                                                   208,776          209,293
                                                                  -------------    -------------
                                                                       775,833          748,715
  Less accumulated depreciation                                        544,668          531,303
                                                                  -------------    -------------
    Fixtures and equipment and other - net                             231,165          217,412
                                                                  -------------    -------------

        Property and equipment - net                               $28,414,437      $28,241,056
                                                                  =============    =============
</TABLE>

<PAGE>
9.   Unbilled Receivables and Rental Income:

     Unbilled receivables represent the excess of scheduled rental income
     recognized on a straight-line basis over rental income as it becomes
     receivable according to the provisions of each lease.

     Rental income includes $103,402 for each of the quarters ended January 31,
     1999 and January 31, 1998, and $206,805 for each of the six month periods
     ended January 31, 1999 and January 31, 1998, representing rentals from an
     affiliated company.

     Amounts due from the affiliated company are as follows:


<TABLE>

<CAPTION>
                                                      January 31,     July 31,
                                                         1999           1998
                                                  ------------------------------
<S>                                               <C>            <C>

Unbilled receivables                                    $636,781       $727,750
Receivables - noncurrent                                       -         87,943
                                                    -------------  -------------
</TABLE>                                                $636,781       $815,693

10.  Employees' Retirement Plan:

     The Company sponsors a noncontributory Money Purchase Plan covering
     substantially all of its employees.  Operations were charged $59,147 and
     $109,647 as contributions to the Plan for the three and six months ended
     January 31, 1999, respectively, and $35,000 and $70,000 as contributions
     to the Plan for the three and six months ended January 31, 1998,
     respectively.  In February 1998, the Financial Accounting Standards Board
     issued Statement of Financial Standards No. 132 ("SFAS 132"), "Employers'
     Disclosure about Pensions and Other Post-Retirement Benefits", effective
     for fiscal years beginning after December 15, 1997.  The adoption of this
     accounting standard will have no effect on the consolidated financial
     statements since the Company's Retirement Plan is 100% funded, with
     Company contributions made quarterly, and there will be no additional
     liability recognized by the Company.


11.  Cash Flow Information:

     For purposes of reporting cash flows, the Company considers cash
     equivalents to consist of short-term highly liquid investments with
     maturities of three months or less, which are readily convertible into
     cash.


<TABLE>

Supplemental disclosure:
<CAPTION>
                                                         Six Months Ended
                                                            January 31,
                                                  ------------------------------
                                                       1999           1998
                                                     __________     __________
<S>                                               <C>            <C>
Interest paid                                           $351,288       $420,429
Income taxes paid                                       $172,033        $68,568

</TABLE>

12.  Financial Instruments and Credit Risk Concentrations:

     Financial instruments that are potentially subject to concentrations of
     credit risk consist principally of marketable securities, cash and cash
     equivalents and receivables.  Marketable securities and cash and cash
     equivalents are placed with high credit quality financial institutions and
     instruments to minimize risk.

     The Company derives rental income from thirty-six tenants, of which one
     tenant accounted for more than 10% of rental income during the six months
     ended January 31, 1999.  That tenant accounted for 16.26%.

13.  Contingencies:

     McCrory Stores Corporation ("McCrory"), which occupied space in the
     Company's Jowein building in the Fulton Mall in downtown Brooklyn, New
     York, and whose lease, as amended, extended to April 29, 2010, filed for
     relief under Chapter 11 of the Bankruptcy Code in February 1992.  McCrory
     rejected its lease, as amended, with the Company with the approval of the
     Bankruptcy Court effective January 31, 1994.  The Company has filed an
     unsecured proof of claim with the United States Bankruptcy Court, Southern
     District of New York for the lease rejection damages in the amount of
     $7,753,732 ("Lease Rejection Claim"), and an administrative claim in the
     amount of approximately $296,000, reduced by agreement to $170,000
     ("Administrative Claim") for damages resulting from McCrory's failure to
     repair and maintain the premises as required by the lease.  McCrory
     objected to the Company's Lease Rejection Claim but has acknowledged the
     administrative claim in the amount of $170,000.  The Company has not
     included the lease rejection claims against McCrory in its financial
     statements due to (i) the fact that McCrory has disclosed that it has sold
     substantially all of its assets and that the proceeds of sale are
     insufficient to make any distributions to unsecured creditors and (ii) the
     uncertainty of the amount that may ultimately be allowed and collected.
     The Company has leased approximately 69,000 square feet of the approximate
     99,000 square feet of space surrendered by McCrory.  The remainder of the
     space of approximately 30,000 square feet is not leaseable due to the
     renovations required to accommodate six tenants where formerly there was
     one.  The rental income to be derived from the six tenants over the terms
     of their leases will be approximately $5,040,000 less than the total
     rental income that would have been due from McCrory for the period
     February 1, 1994 through April 29, 2010, the termination date of the
     McCrory lease.

     Jamesway Corporation ("Jamesway"), which occupied retail space in the
     Fishkill, New York property and whose lease extended to January 31, 2005,
     filed for relief under Chapter 11 of the Bankruptcy Code on October 18,
     1995.  Jamesway rejected its lease for the Fishkill location with the
     approval of the Bankruptcy Court, effective February 29, 1996, but
     continued occupancy until March 22, 1996.  The Company filed an amended
     unsecured claim in the amount of $883,635 for damages resulting from the
     breach and rejection of the lease and an administrative priority claim in
     the amount of approximately $189,000 for certain amounts due under the
     lease after the filing of Jamesway's  Chapter 11 petition and for the
     costs of repairs resulting from Jamesway's failure to fulfill its repair
     and maintenance obligations under the lease.  Pursuant to a settlement
     that was approved by the Bankruptcy Court, the Company has an allowed
     unsecured claim in the amount of $950,635 and an allowed administrative
     claim in the amount of $54,887.

     The Company has realized to date from Jamesway $465,811 or 49% on account
     of its unsecured claim and 100% of its allowed administrative claim for a
     total of $520,698.  The Company has also realized to date from McCrory
     $19,304 or 11.36% on account of its Administrative Claim in the amount of
     $170,000.  McCrory has advised creditors that holders of allowed
     Administrative Claims may receive an additional distribution of
     approximately 9% of the allowed amount of the Administrative Claim.  The
     Company has made no provision in its financial statements for the balance
     of its claims filed against Jamesway and McCrory due to the uncertainty of
     the amount that may ultimately be collected.

     The Company reports scheduled rental income recognized on a straight-line
     basis rather than rental income as it becomes a receivable according to
     the provisions of the lease, in compliance with the provisions of
     Statement of Financial Accounting Standards No. 13, "Accounting for
     Leases".  The excess of the scheduled rental income of McCrory, recognized
     on a straight-line basis over rental income reported through January 31,
     1994, the effective date of McCrory's rejection of its lease, amounts to
     $708,673 and such amount was written off and classified as a bad debt
     during the twelve month period ended July 31, 1994.  The excess of the
     scheduled rental income of Jamesway recognized on a straight-line basis
     over rental income receivable according to the lease through January 31,
     1996, amounted to $424,011 and such amount was written off and classified
     as a bad debt during the twelve month period ended July 31, 1996.

     There are various lawsuits and claims pending against the Company.  It is
     the opinion of management that the resolution of these matters will not
     have a material adverse effect on the Company's Consolidated Financial
     Statements.

<PAGE>
                               J. W. MAYS, INC.
         MANAGEMENT'S DISCUSSION AND ANALYSIS OF RESULTS OF OPERATIONS
                            AND FINANCIAL CONDITION


Results of Operations:

Three Months Ended January 31, 1999 Compared to the Three Months Ended January
31, 1998:

In the three months ended January 31, 1999, the Company reported net income in
the amount of $177,129, or $.08 per share.  In the comparable three months
ended January 31, 1998, the Company reported net income of $326,750, or $.15
per share.  The 1998 three months includes a pre-tax net recovery of real
estate taxes of $123,809 (see below).  There was no comparable item in the
1999 three month period.

Revenues in the current three months decreased to $2,624,516 from  $2,804,731
in the comparable 1998 three months, primarily due to the pre-tax net recovery
of prior years' real estate taxes in the 1998 three month period.  There was
no comparable item in the 1999 three month period.

Real estate operating expenses in the current three months decreased to
$1,405,044 from $1,446,866 in the comparable 1998 three months primarily due
to a decrease in real estate taxes, fuel costs, vault charges, maintenance
costs and leasing commissions, partially offset by an increase in payroll
costs.

Administrative and general expenses in the current three months increased to
$541,826 from $477,488 in the comparable 1998 three months primarily due to an
increase in payroll and pension costs.

The recovery of real estate taxes in the 1998 three month period of $123,809,
net of legal expenses and credits to tenants in accordance with the terms of
their leases, represents prior years' real estate taxes from the City of New
York and the Town of Fishkill, New York.

Depreciation and amortization expense in the current three months decreased to
$254,369 from $255,108 in the three months ended January 31, 1998.

Interest expense in the current three months exceeded investment income by
$100,148 and by $143,972 in the comparable 1998 three months. The decrease was
primarily due to the elimination of the loan payable to a securities broker
and scheduled repayments.

The bad debt recovery in the amount of $41,453 in the three months ended
January 31, 1998 relates to the bad debt write-off of $424,011 in the 1996
year.  See Note 13 to the Consolidated Financial Statements (Jamesway).

Six Months Ended January 31, 1999 Compared to the Six Months Ended January 31,
1998:

In the six months ended January 31, 1999, the Company reported net income in
the amount of $498,444, or $.23 per share.  In the comparable six months ended
January 31, 1998, the Company reported net income of $671,761, or $.31 per
share.  The 1998 six months includes a pre-tax net recovery of real estate
taxes of $283,085 (see below).  There was no comparable item in the 1999 six
month period.

Revenues in the current six months decreased to $5,304,421 from  $5,605,592 in
the comparable 1998 six months, primarily due to the pre-tax net recovery of
prior years' real estate taxes in the 1998 six month period.  There was no
comparable item in the 1999 six month period.

Real estate operating expenses in the current six months decreased to
$2,720,181 from $2,793,243 in the comparable 1998 six months primarily due to
a decrease in real estate taxes, fuel costs, vault charges, maintenance costs
and leasing commissions, partially offset by an increase in payroll costs.

Administrative and general expenses in the current six months increased to
$1,061,325 from $1,006,025 in the comparable 1998 six months primarily due to
an increase in payroll and pension costs.

The recovery of real estate taxes in the 1998 six month period of $283,085,
net of legal expenses and credits to tenants in accordance with the terms of
their leases, represents prior years' real estate taxes from the City of New
York and the Town of Fishkill, New York.

Depreciation and amortization expense in the current six months decreased to
$500,572 from $504,216 in the six months ended January 31, 1998.

Interest expense in the current six months exceeded investment income by
$208,899 and by $285,800 in the comparable 1998 six months. The decrease was
primarily due to the elimination of the loan payable to a securities broker
and scheduled repayments.

The bad debt recovery in the amount of $41,453 in the six months ended January
31, 1998 relates to the bad debt write-off of $424,011 in the 1996 year.  See
Note 13 to the Consolidated Financial Statements (Jamesway).

Liquidity and Capital Resources:

The Company has been operating as a real estate enterprise since the
discontinuance of the retail department store segment of its operations on
January 3, 1989.

Management considers current working capital and borrowing capabilities
adequate to cover the Company's planned operating and capital requirements.
The Company's cash and cash equivalents amounted to $1,277,355 at January 31,
1999.
<PAGE>
Cash Flows From Operating Activities:

Prepaid expenses:  Cash expenditures for the six months ended January 31, 1999
were reduced by $63,024 due to a reduction in real estate taxes on the
Fishkill property in Fishkill, New York in the amount of $42,948 and a
reduction in insurance premiums in the amount of $20,076.

Cash Flows From Investing Activities:

Capital Expenditures:  The Company had expenditures of approximately $550,453
for the six months ended January 31, 1999 for renovations at its Jamaica, New
York building.  The expenditure at the Jamaica building is part of the
exterior facade renovation which the Company anticipates will cost
approximately $1,100,000.  As of January 31, 1999, the Company has expended a
total of $885,435.  The renovations are anticipated to be completed by May
1999.

The Company had expenditures of $76,480 for renovations at its Brooklyn, New
York building to accommodate one new tenant.  The Company also plans to build
a new lobby at this location to attract additional tenants to the property.
The cost is estimated to be $500,000 and work is expected to commence in March
1999 and is expected to be completed by October 1999.

Year 2000 Compliance:

The Company uses a computerized accounting system purchased from a vendor.
The vendor has released a Year 2000 compliant version of the accounting system
which the Company is in the process of implementing.  No material expenditures
will be required to resolve the Year 2000 issue.  Much of the Company's
internal software programs have been purchased from third parties.  Failure of
the third parties' computer systems would not have a material impact on the
Company's ability to conduct business.  Furthermore, the Company is not
dependant on third party computer systems and applications.  The Company has
no suppliers or significant customers that "link" up to its computer systems.
The Company does not anticipate any problems with its hardware or its
software.

The Company has communicated with its major tenants, financial institutions,
contractors and utility companies to determine the extent to which the Company
is vulnerable to third parties' failures to resolve their Year 2000 issues.
Based on the representations received to date from these third parties, the
Company does not believe this represents a material risk to the Company.
Nevertheless, the Company has no guarantee that such third party systems will
operate as represented.  In the event significant systems of one of these
third parties fails, the Company's operations and financial results could be
adversely affected.


<PAGE>
Part II - Other Information

  Item 6 - Exhibits and Reports on Form 8-K

   (a)  List of Exhibits:
                                                             Sequentially
   Exhibit                                                     Numbered
    Number                     Exhibit                            Page    _

      (2) Plan of acquisition, reorganization, arrangement,
           liquidation or succession.                              N/A

      (4) Instruments defining the rights of security holders,
           including indentures.                                   N/A

     (10) Material contracts.                                      N/A

     (11) Statement re computation of per share earnings.          N/A

     (15) Letter re unaudited interim financial information.       N/A

     (18) Letter re change in accounting principles.               N/A

     (19) Report furnished to security holders.                    N/A

     (22) Published report regarding matters submitted to vote
          of security holders.                                     N/A

     (24) Power of attorney.                                       N/A

     (27) Financial data schedule.                                 N/A

     (99) Additional exhibits.                                     N/A


   (b)  Reports on Form 8-K - No report on Form 8-K was required to be filed
        by the Company during the six months ended January 31, 1999.
<PAGE>
                                  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 thereunto duly authorized.




                                                J.W. MAYS, Inc.
                                                 (Registrant)



Date     March 5, 1999                           Lloyd J. Shulman
                                               ----------------------
                                               Lloyd J. Shulman
                                               Chairman



Date     March 5, 1999                            Alex Slobodin
                                               ----------------------
                                               Alex Slobodin
                                               Exec. Vice-President
                                               (Principal Financial Officer)