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   April 30, 2001

[   ]  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 June 11, 2001
Common Stock,  $1 par value                       2,063,280 shares

                                             This report contains 16 pages.
                                      -1-
<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 Consolidated Financial Statements          6 - 11

          Management's Discussion and Analysis of Results
            of Operations and Financial Condition             12 - 14


Part II  -  Other Information                                 15

                                    -2-
<TABLE>

<CAPTION>
                       J.  W.  MAYS,  INC.
                   CONSOLIDATED BALANCE SHEET
                                                                     April 30,        July 31,
                             ASSETS                                    2001             2000
 --------------------------------------------------------------- ---------------  ---------------
                                                                    (Unaudited)       (Audited)

<S>                                                                <C>              <C>
Property and Equipment - Net (Notes 3 and 5)                        $31,643,387      $29,554,405
                                                                   -------------    -------------

Current Assets:
  Cash and cash equivalents                                           1,770,914        1,529,082
  Marketable securities  (Note 4)                                        43,275           41,685
  Receivables (Note 7)                                                  315,132          215,872
  Deferred income taxes                                                 157,000          180,000
  Security deposits                                                         -             33,125
  Prepaid expenses                                                      621,066        1,005,279
                                                                   -------------    -------------
       Total current assets                                           2,907,387        3,005,043
                                                                   -------------    -------------

Other Assets:
  Deferred charges                                                    2,947,044        2,619,188
  Less accumulated amortization                                       1,583,075        1,466,651
                                                                   -------------    -------------
       Net                                                            1,363,969        1,152,537
  Security deposits                                                     660,536          613,799
  Unbilled receivables (Note 7)                                       4,726,655        4,735,115
  Unbilled receivables - affiliated company (Note 7)                    227,423          363,875
  Marketable securities  (Note 4)                                     3,463,575        3,059,770
  Receivables                                                           256,009              -
                                                                   -------------    -------------
       Total other assets                                            10,698,167        9,925,096
                                                                   -------------    -------------


        TOTAL ASSETS                                                $45,248,941      $42,484,544
                                                                   =============    =============

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

Long-Term Debt:
  Mortgages payable (Note 5)                                         $7,633,962       $5,999,844
  Other (Note 6)                                                        362,400          362,443
                                                                   -------------    -------------
       Total long-term debt                                           7,996,362        6,362,287
                                                                   -------------    -------------

Deferred Income Taxes                                                 2,641,000        2,333,000
                                                                   -------------    -------------

Current Liabilities:
  Accounts payable                                                       33,219           43,663
  Payroll and other accrued liabilities                                 865,023          756,660
  Income taxes payable                                                  126,005           22,365
  Other taxes payable                                                     5,689            3,414
  Current portion of long-term debt - mortgages payable (Note 5)        882,098        1,023,035
  Current portion of long-term debt - other (Note 6)                     69,333          137,125
                                                                   -------------    -------------
       Total current liabilities                                      1,981,367        1,986,262
                                                                   -------------    -------------

       Total liabilities                                             12,618,729       10,681,549
                                                                   -------------    -------------

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                      362,675           63,117
  Retained earnings                                                  27,503,347       26,761,938
                                                                   -------------    -------------
                                                                     33,390,564       32,349,597
  Less common stock held in treasury, at cost - 115,017
    shares at April 30, 2001 and  90,017 shares at July 31, 2000        760,352          546,602
                                                                   -------------    -------------
       Total shareholders' equity                                    32,630,212       31,802,995
                                                                   -------------    -------------

Contingencies (Note 11)

       TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY                   $45,248,941      $42,484,544
                                                                   =============    =============

See Notes to Consolidated Financial Statements.

                                                  -3-

</TABLE>
<PAGE>
<TABLE>

<CAPTION>

                        J.  W. MAYS, INC.

    CONSOLIDATED STATEMENT OF INCOME AND RETAINED EARNINGS


                                                                     Three Months Ended                Nine Months Ended
                                                                          April 30,                         April 30,
                                                               --------------- ----------------  --------------- -------------
<S>                                                            <C>             <C>               <C>             <C>
                                                                    2001            2000              2001           2000
                                                               --------------  --------------    --------------  -------------
                                                                (Unaudited)     (Unaudited)       (Unaudited)     (Unaudited)

Revenues
  Rental income (Notes 7 and 10)                                   $2,751,613      $2,612,214        $8,093,265     $7,837,485

  Rental income - affiliated company                                  103,402         103,402           310,207        310,207
                                                                --------------  --------------    --------------  -------------
      Total revenues                                                2,855,015       2,715,616         8,403,472      8,147,692
                                                                --------------  --------------    --------------  -------------


Expenses
  Real estate operating expenses                                    1,501,269       1,387,532         4,465,851      4,184,417
  Administrative and general expenses                                 566,155         541,803         1,779,462      1,704,304
  Bad debt (recovery)                                                     -               -             (47,532)           -
  Depreciation and amortization                                       282,777         251,941           806,331        746,823
                                                                --------------  --------------    --------------  -------------
       Total expenses                                               2,350,201       2,181,276         7,004,112      6,635,544
                                                                --------------  --------------    --------------  -------------
Income  from operations before investment income,
  interest expense and income taxes                                   504,814         534,340         1,399,360      1,512,148
                                                                --------------  --------------    --------------  -------------
Investment income and interest expense:
  Investment income (Note 4)                                           63,075          65,187           184,865        199,376
  Interest expense (Notes 5 and 9)                                   (133,782)       (150,856)         (419,816)      (469,996)
                                                                --------------  --------------    --------------  -------------
                                                                      (70,707)        (85,669)         (234,951)      (270,620)
                                                                --------------  --------------    --------------  -------------

Income before income taxes                                            434,107         448,671         1,164,409      1,241,528
Income taxes provided                                                 140,000         155,000           423,000        456,000
                                                                --------------  --------------    --------------  -------------
Net income                                                            294,107         293,671           741,409        785,528

Retained earnings, beginning of period                             27,209,240      26,187,857        26,761,938     25,696,000
                                                                --------------  --------------    --------------  -------------
Retained earnings, end of period                                  $27,503,347     $26,481,528       $27,503,347    $26,481,528
                                                                ==============  ==============    ==============  =============

Net income per common share (Note 2)                                     $.14            $.14              $.36           $.37
                                                                ==============  ==============    ==============  =============

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

Weighted average common shares outstanding                          2,063,280       2,115,724         2,071,064      2,129,192
                                                                ==============  ==============    ==============  =============


See Notes to Consolidated Financial Statements.

                                                                       CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME

                                                                    Three Months Ended                Nine Months Ended
                                                                          April 30,                         April 30,
                                                               --------------- ----------------  --------------- ---------------
                                                                    2001            2000              2001           2000
                                                                --------------  --------------    --------------  -------------
                                                                  (Unaudited)     (Unaudited)       (Unaudited)     (Unaudited)

Net Income                                                           $294,107        $293,671          $741,409       $785,528
                                                                --------------  --------------    --------------  -------------

Other comprehensive income (loss), net of taxes


   Unrealized gain (loss) on available-for-sale securities:
       Net of taxes  (benefit) of $47,000 and $8,000 for
       the three months ended April 30, 2001 and 2000,
       respectively, and $155,000 and $(90,000) for the
       nine months ended April 30, 2001 and 2000, respectively.        89,943          14,728           299,558       (175,233)


  Less reclassification adjustment                                          -               -               248              -
                                                                --------------  --------------    --------------  -------------
  Other comprehensive income (loss)                                    89,943          14,728           299,806       (175,233)
                                                                --------------  --------------    --------------  -------------


Comprehensive Income                                                 $384,050        $308,399        $1,041,215       $610,295
                                                                ==============  ==============    ==============  =============
See Notes to Consolidated Financial Statements.
                                                       -4-
</TABLE>
<PAGE>
<TABLE>

<CAPTION>
                       J.  W.  MAYS,  INC.

              CONSOLIDATED STATEMENT OF CASH FLOWS


                                                                         Nine Months Ended
                                                                             April 30,
                                                                  -------------- ----------------
                                                                        2001             2000
                                                                  -------------- ----------------
<S>                                                               <C>              <C>
                                                                    (Unaudited)      (Unaudited)

Cash Flows From Operating Activities:
Net income                                                             $741,409         $785,528

Adjustments to reconcile income to
 net cash provided by operating activities:
  Realized  (loss) on marketable securities                                (248)             -
  Depreciation and amortization                                         806,331          746,823
  Amortization of deferred expenses                                     157,426          156,697
  Other assets - deferred expenses                                     (368,858)         (94,564)
                      - unbilled receivables                              8,460         (241,625)
                      - unbilled receivables - affiliated company       136,452          136,453
                      - receivables                                    (256,009)          10,046
  Deferred income taxes                                                 176,000          337,000

Changes in:
  Receivables                                                           (99,260)         345,181
  Prepaid expenses                                                      384,213          388,289
  Income taxes refundable                                                   -             38,727
  Accounts payable                                                      (10,444)         (14,440)
  Payroll and other accrued liabilities                                 108,363          204,855
  Income taxes payable                                                  103,640            2,115
  Other taxes payable                                                     2,275            3,298
                                                                   -------------    -------------
     Cash provided by operating activities                            1,889,750        2,804,383
                                                                   -------------    -------------

Cash Flows From Investing Activities:
  Capital expenditures                                               (2,895,313)      (1,376,111)
  Security deposits                                                     (13,612)          (9,272)
  Marketable securities:
    Receipts from sales or maturities                                    51,001           50,000
    Payments for purchases                                               (1,590)        (279,879)
                                                                   -------------    -------------
       Cash  (used) by investing activities                          (2,859,514)      (1,615,262)
                                                                   -------------    -------------

Cash Flows From Financing Activities:
  Borrowings - mortgage and other debt                                2,300,000              -
  Increase - security deposits                                           10,165            5,745
  Payments - mortgages and other debt                                  (884,819)        (683,866)
  Purchase of treasury stock                                           (213,750)        (256,500)
                                                                   -------------    -------------
      Cash provided (used) by financing activities                    1,211,596         (934,621)
                                                                   -------------    -------------

Increase in cash                                                        241,832          254,500

Cash and cash equivalents at beginning of period                      1,529,082        1,489,843
                                                                   -------------    -------------

Cash and cash equivalents at end of period                           $1,770,914       $1,744,343
                                                                   =============    =============

See Notes to Consolidated Financial Statements.
                                                -5-
</TABLE>
<PAGE>

                               J. W. MAYS,  INC.
                  NOTES TO CONSOLIDATED FINANCIAL STATEMENTS


1. Accounting Records and Use of Estimates:

   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, 2000 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 Form 10-K Annual Report for the year ended
   July 31, 2000.  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, 2001.

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 2,063,280 and
   2,071,064 for the three and nine months ended April 30, 2001, respectively,
   and 2,115,724 and 2,129,192 for the three and nine month periods ended
   April 30, 2000, respectively.  The Company's adoption of Statement of
   Financial Standards No. 128 ("SFAS 128"), "Earnings Per Share", has had no
   effect on the computation of previously reported earnings per share.

3. Property and Equipment - at cost:

<TABLE>
<CAPTION>
                                                                     April 30,         July 31,
                                                                       2001             2000
                                                                ---------------  ---------------
<S>                                                              <C>              <C>
Property:
  Buildings and improvements                                       $41,935,763      $38,917,272
  Improvements  to  leased  property                                 9,158,009        9,158,009
  Land                                                               4,008,835        4,008,835
  Construction in progress                                              57,000          246,342
                                                                  -------------    -------------
                                                                    55,159,607       52,330,458
  Less accumulated depreciation                                     23,758,931       22,991,894
                                                                  -------------    -------------
     Property - net                                                 31,400,676       29,338,564
                                                                  -------------    -------------

Fixtures and equipment and other:
  Fixtures and equipment                                               603,703          572,189
  Other fixed assets                                                   214,426          209,223
                                                                  -------------    -------------
                                                                       818,129          781,412
  Less accumulated depreciation                                        575,418          565,571
                                                                  -------------    -------------
  Fixtures and equipment and other - net                               242,711          215,841
                                                                  -------------    -------------

        Property and equipment - net                               $31,643,387      $29,554,405
                                                                  =============    =============
                                                  -6-
</TABLE>
<PAGE>
4.   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>

As of April 30, 2001, the Company's marketable securities were classified as follows:


                                                                                    Gross            Gross
                                                                                 Unrealized       Unrealized        Fair
                                                                     Cost           Gains           Losses          Value
                                                               -------------  -------------    -------------  -------------
  Current:
<S>          <C>                                               <C>            <C>              <C>            <C>

            Certificate of deposit                                   $43,275           $-               $-          $43,275
                                                                =============  =============    =============  =============

  Noncurrent:
            Available-for-sale:
              Equity securities                                   $2,913,900       $549,675             $-       $3,463,575
                                                                =============  =============    =============  =============


  Investment income consists of the following:
                                                                    Three Months Ended              Nine Months Ended
                                                                         April 30,                       April 30,
                                                                -------------  -------------    -------------  -------------
                                                                     2001           2000             2001           2000
                                                                -------------  -------------    -------------  -------------
              Interest income                                        $11,018        $16,737          $35,746        $53,863
              Dividend income                                         52,057         48,450          148,871        145,513
              Gain on sale of securities                                 -              -                248            -
                                                                -------------  -------------    -------------  -------------
                 Total                                               $63,075        $65,187         $184,865       $199,376
                                                                =============  =============    =============  =============


                                                                -7-

</TABLE>
<PAGE>
<TABLE>

<CAPTION>
5.  Long Term Debt:
                                                                       April 30, 2001                    July 31, 2000
                                                            -------------------------------------------------------------------
                                         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>             <C>
                                        -------  --------    --------------  --------------    --------------  ---------------

Mortgages:
  Jamaica, New York property       (a)  8 1/2 %   4/01/07          $266,666      $2,666,667          $266,666       $2,866,667
  Jamaica, New York property       (b) Variable   3/01/07                 -       2,300,000                 -                -
  Jowein building, Brooklyn, N.Y.  (c)      9 %   3/31/05           110,246         396,222           103,128          479,819
  Fishkill, New York property      (d)  8 1/4 %   7/01/04            94,993       2,091,528            89,312        2,163,500
  Circleville, Ohio property       (e)      7 %   9/30/02           410,193         179,545           389,272          489,858
  Brooklyn, New York property -
           Paid off 4/30/01        (f)  8 1/2 %   5/01/01                 -               -           174,657                -
                                                              --------------  --------------    --------------  ---------------


       Total                                                       $882,098      $7,633,962        $1,023,035       $5,999,844
                                                              ==============  ==============    ==============  ===============
</TABLE>
<PAGE>

(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, New York property.  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)  The Company, on December 13, 2000, closed a loan with a bank in the
   amount of $3,500,000.  The loan is secured by a second position leasehold
   mortgage covering the entire leasehold interest of the Company as tenant in
   a certain ground lease and building in the Jamaica, New York property.
   The loan proceeds are to be utilized by the Company toward its costs of
   capital improvements of the premises in connection with the Company's lease
   of a significant portion of a floor in the building to the State of
   New York.

   The loan is structured in two phases:

      1.)  A fifteen-month construction term with interest only on the
      amount owing at a floating rate per annum equal to the prime rate.
      During this period, the Company is to have the option to secure
      advances against the loan amount.

      2.)  Upon completion of the renovations, the construction loan would
      convert to a ten (10) year second mortgage permanent loan on a fifteen
      (15) year level amortization, plus interest, at the option of the
      Company.  The interest rate on the permanent loan during the first
      five (5) years is at a fixed rate per annum equal to 2.25% above the
      five (5) year Treasury Note Rate in effect at the time of conversion
      to a permanent loan.  The interest rate during the five (5) year
      renewal term is at a fixed rate per annum equal to 2.25% above the
      five (5) year Treasury Note Rate, as of the start of the renewal term.
                                       -8-
<PAGE>
   Payments are to be made, in arrears, on the first day of each and every
   month calculated (a) during the period of the construction loan,
   interest only, and (b) during the ten (10) year period of the term loan,
   at the sum of the interest rate plus amortization sufficient to fully
   liquidate the loan over a fifteen (15) year period.  As additional
   collateral security, the Company will conditionally assign to the bank
   all leases and rents on the premises, or portions thereof, whether now
   existing or hereafter consummated.  The Company has an option to prepay
   principal, in whole or in part, plus interest accrued thereon, at any
   time during the term, without premium or penalty.  Other provisions of
   the loan agreement provide certain restrictions on the incurrence of
   indebtedness and the sale or transfer of the Company's ground lease
   interest in the premises.  Both credit facilities will be subject to the
   bank's existing first position mortgage loan on the premises.  As of
   April 30, 2001, the Company has secured advances of $2,300,000 against
   the principal amount of the loan.


(c)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, 2000,
   the maturity date of the mortgage which was scheduled to be on March 31,
   2000 was extended to March 31, 2005.  The interest rate remained at 9%.
   During the extended period the constant quarterly payments of interest
   and principal increased from $37,263 to $38,044.  The mortgage loan is
   self-amortizing.

(d)On June 2, 1999, the existing first mortgage loan balance on the
   Fishkill property was extended for a period of five years.  The annual
   interest rate was reduced from 9% to 8 1/4% and the interest and principal
   payments are to be made in constant monthly amounts based upon a fifteen
   (15) year payout period.

(e)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, are currently in the amount of $36,540.

(f)The mortgage loan was paid off on April 30, 2001.
                                         -9-
<PAGE>
6.   Long-Term Debt - Other:

     Long-Term debt - Other consists of the following:
<TABLE>

<CAPTION>
                                                                    April 30, 2001                    July 31, 2000
                                                            -------------------------------  -------------------------------

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

Deferred compensation  *                                           $69,333            $-           $104,000         $43,333
Lease security deposits  **                                            -           362,400           33,125         319,110
                                                              -------------   -------------    -------------   -------------
    Total                                                          $69,333        $362,400         $137,125        $362,443
                                                              =============   =============    =============   =============
</TABLE>
<PAGE>

     * In fiscal 1964 the Company entered into a deferred compensation
       agreement with Max L. Shulman, its then Chairman of the Board.  The
       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
       $291,500 at April 30, 2001 and $275,000 at July 31, 2000, provided by
       three tenants.

7.   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 April 30,
     2001 and April 30, 2000, and $310,207 for each of the nine months ended
     April 30, 2001 and April 30, 2000, representing rentals from an affiliated
     company.

     Amounts due from the affiliated company are as follows:

<TABLE>

<CAPTION>
                                                       April 30,       July 31,
                                                         2001            2000
                                                  ---------------  -------------
<S>                                               <C>              <C>
</TABLE>                                                $227,423       $363,875
<PAGE>                                              =============  =============

8.   Employees' Retirement Plan:

     The Company sponsors a noncontributory Money Purchase Plan covering
     substantially all of its employees.  Operations were charged $64,892 and
     $187,771 as contributions to the Plan for the three and nine months ended
     April 30, 2001, respectively, and $58,476 and $178,562 as contributions to
     the Plan for the three and nine months ended April 30, 2000, respectively.
                                           -10-
<PAGE>
9.  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:                                 Nine Months Ended
<CAPTION>
                                                             April 30,
                                                  ------------------------------
                                                       2001           2000
                                                  ---------------  -------------
<S>                                                <C>            <C>
Interest paid, net of capitalized interest of           $425,943       $474,769
   $31,058 for the 2001 nine month period.
   There was no capitilized interest for the
   2000 nine month period.
Income taxes paid                                       $143,360        $78,158
</TABLE>
<PAGE>


10.  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-eight tenants, of which one
     tenant accounted for more than 10% of rental income during the three
     months ended April 30, 2001.  That tenant accounted for 15.63% of rental
     income.

11.  Contingencies:

     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 has realized from
     Jamesway $513,343, or 54% on account of its unsecured claim, and 100% of
     its allowed administrative claim of $54,887, for a total of $568,230.  The
     Company has made no provision in its financial statements for the balance
     of its claims filed against Jamesway due to the fact that the recovery of
     $47,532 in the nine months ended April 30, 2001 represents the final
     recovery from Jamesway.

     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.
                                               -11-
<PAGE>
                               J. W. MAYS, INC.
         MANAGEMENT'S DISCUSSION AND ANALYSIS OF RESULTS OF OPERATIONS
                            AND FINANCIAL CONDITION


Results of Operations:

Three Months Ended April 30, 2001 Compared to the Three Months Ended April 30,
2000:

In the three months ended April 30, 2001, the Company reported net income of
$294,107, or $.14 per share.  In the comparable three months ended April 30,
2000, the Company reported net income of $293,671, or $.14 per share.

Revenues in the current three months increased to $2,855,015 from $2,715,616
in the comparable 2000 three months.  The increase is primarily due to the
leasing of 11,200 square feet to a tenant at the Company's Jamaica, New York
property.  The lease commenced September 1, 2000.

Real estate operating expenses in the current three months increased to
$1,501,269 from $1,387,532 in the comparable 2000 three months primarily due
to an increase in real estate taxes, payroll, utility and maintenance costs,
partially offset by a decrease in water and sewer costs and licenses and
permits.

Administrative and general expenses in the current three months increased to
$566,155 from $541,803 in the comparable 2000 three months primarily due to an
increase in payroll and medical costs.

Depreciation and amortization expense in the current three months increased to
$282,777 from $251,941 in the comparable 2000 three months, primarily due to
depreciation on the additional improvements to the Jamaica, New York property.

Interest expense in the current three months exceeded investment income by
$70,707 and by $85,669 in the comparable 2000 three months. The decrease was
due to scheduled repayments of debt.

Nine Months Ended April 30, 2001 Compared to the Nine Months Ended April 30,
2000:

In the nine months ended April 30, 2001, the Company reported net income of
$741,409, or $.36 per share.  In the comparable nine months ended April 30,
2000, the Company reported net income of $785,528, or $.37 per share.

Revenues in the current nine months increased to $8,403,472 from $8,147,692 in
the comparable 2000 nine months.  The increase is primarily due to the leasing
of 11,200 square feet to a tenant at the Company's Jamaica, New York property.
The lease commenced September 1, 2000.

Real estate operating expenses in the current nine months increased to
$4,465,851 from $4,184,417 in the comparable 2000 nine months primarily due to
an increase in real estate taxes, payroll, utility and maintenance costs,
partially offset by a decrease in water and sewer costs and licenses and
permits.

Administrative and general expenses in the current nine months increased to
$1,779,462 from $1,704,304 in the comparable 2000 nine months primarily due to
an increase in payroll and medical costs, partially offset by a decrease in
legal and professional costs.
                                          -12-
<PAGE>
Depreciation and amortization expense in the current nine months increased to
$806,331 from $746,823 in the comparable 2000 nine months, primarily due to
depreciation on the additional improvements to the Jamaica, New York property.

Interest expense in the current nine months exceeded investment income by
$234,951 and by $270,620 in the comparable 2000 nine months. The decrease was
due to scheduled repayments of debt.


The bad debt recovery in the amount of $47,532 in the nine months ended April
30, 2001 relates to the bad debt write-off of $424,011 in the 1996 fiscal
year.  See Note 11 to the Consolidated Financial Statements.  There was no
comparable item in the 2000 nine month period.

The Company purchased 25,000 shares of its outstanding common stock during the
nine months ended April 30, 2001.  The effect on earnings per share for the
nine months ended April 30, 2001 was $.003.

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 $1,770,914 at April 30,
2001.

The Company, on October 20, 2000, completed a lease with the State of New York
for 42,250 square feet of office space in the Company's Jamaica, New York
property.  Occupancy commenced on May 1, 2001.  See note 5(b) for details of a
loan with a bank, closed by the Company on December 13, 2000, to cover the
cost of capital improvements in connection with the aforementioned lease of
42,250 square feet.

During fiscal 2000, the Company leased an additional 11,200 square feet of
office space to the State of New York for use by the Department of Labor which
space is contiguous to the existing office space occupied by the State in the
Company's Jamaica, New York property.  Rent for the additional space commenced
September 1, 2000.

The tenant that occupies 25,915 square feet at the Company's Fishkill, New
York Property exercised its option to renew its lease for an additional five
years.  The option period became effective in November, 2000.

The Company will increase its cash flow by approximately $400,000 due to
scheduled rental increases from existing tenants for the year ending July 31,
2001.

The Company has obtained a judgment in the amount of $4,147,500, plus
interest, from the New York State Court of Claims in connection with a
condemnation by the State of New York, relating to the Fishkill property, from
which judgment the State has appealed.  Accordingly, the foregoing judgment
and related reduction in the Company's value of the property have not been
recorded in the financial statements of the Company at this time.
                                          -13-
<PAGE>


Cash Flows From Operating Activities:

Deferred Expenses:  Cash expenditures for the nine months ended April 30, 2001
increased by $306,408 due primarily to legal and professional costs, and
brokerage commissions in obtaining a new tenant and financing costs to obtain
a loan, the proceeds of which are to be utilized by the Company toward its
cost of capital improvements relating to the new tenant's occupancy at the
Company's Jamaica, New York building.  Occupancy commenced on May 1, 2001.

Receivables:  The Company is due the amount of $507,339 as of April 30, 2001
as reimbursement for expenditures for renovations made on behalf of one tenant
at the Jamaica, New York building.

Prepaid Expenses:  Cash expenditures for the nine months ended April 30, 2001
increased by $103,186 compared to the comparable nine months ended April 30,
2000, due primarily to an increase in real estate taxes and insurance
premiums.

Payroll and other Accrued Liabilities:  Liabilities increased by $150,000 due
principally to the recording of a brokerage commission in obtaining a new
tenant at the Company's Jamaica, New York building.


Cash Flows From Investing Activities:

Capital Expenditures:  The Company had expenditures of $3,918,484 ($3,500,333
for the nine months ended April 30, 2001) to renovate 11,200 square feet of
additional space for an existing tenant and 42,250 square feet for a new
tenant at its Jamaica, New York building, of which $1,056,196 is applicable to
the nine months ended April 30, 2001 and is to be reimbursed by the tenants.
The Company anticipates that the total renovations will amount to
approximately $4,500,000 of which approximately $1,558,903 will be reimbursed
by the tenants.  The renovation for the 11,200 square feet was completed
during December, 2000 and the renovation for the 42,250 square feet was
substantially completed on May 1, 2001.

The Company had expenditures of $214,907 for the nine months ended April 30,
2001 for renovations of its Fishkill, New York building.  The total
renovations amounted to $237,000 and will be completed during July, 2001.


Cash Flows From Financing Activities:

Borrowing:  Mortgage Debt -  The Company secured financing from a bank in the
principal amount of $3,500,000 (see note 5 (b)).  As of April 30, 2001, the
Company secured advances of $2,300,000 against the principal amount.  The
balance of the mortgage, due May 1, 2001, on the Brooklyn, New York property
in the amount of $166,822 was paid off on April 30, 2001.

The Company purchased 25,000 shares of its outstanding common stock in a
private transaction for a total purchase price of $213,750 in the nine months
ended April 30, 2001.
                                       -14-
<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 three months ended April 30, 2001.

                                                -15-
<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     June 11, 2001                              Lloyd J. Shulman

                                               Lloyd J. Shulman
                                               Chairman



Date     June 11, 2001                                   Alex Slobodin

                                               Alex Slobodin
                                               Exec. Vice-President
                                               (Principal Financial Officer)

                                                -16-