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   October 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 December 7, 1999
Common Stock,  $1 par value                       2,135,780 shares

                                             This report contains 15 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 Consolidated Financial Statements          6 - 11

          Management's Discussion and Analysis of Results
            of Operations and Financial Condition             12 - 13


Part II  -  Other Information                                 14
<PAGE>
<TABLE>

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

<S>                                                                <C>              <C>
Property and Equipment - Net (Notes 5 and 7)                        $29,018,255      $28,786,035
                                                                   -------------    -------------

Current Assets:
  Cash and cash equivalents                                           2,022,942        1,489,843
  Marketable securities  (Note 4)                                        40,394           39,993
  Receivables (Note 8)                                                  309,226          415,243
  Income taxes refundable                                                10,670           38,727
  Deferred income taxes                                                  88,000           79,000
  Security deposits                                                       6,197            6,165
  Prepaid expenses                                                      508,738          960,614
                                                                   -------------    -------------
       Total current assets                                           2,986,167        3,029,585
                                                                   -------------    -------------

Other Assets:
  Deferred charges                                                    2,568,283        2,562,715
  Less accumulated amortization                                       1,388,588        1,341,887
                                                                   -------------    -------------
       Net                                                            1,179,695        1,220,828
  Security deposits                                                     637,138          633,424
  Unbilled receivables (Note 8)                                       4,500,509        4,423,417
  Unbilled receivables - affiliated company (Note 8)                    500,328          545,812
  Receivables                                                             9,256           12,534
  Marketable securities  (Note 4)                                     2,998,570        3,005,401
                                                                   -------------    -------------
       Total other assets                                             9,825,496        9,841,416
                                                                   -------------    -------------


        TOTAL ASSETS                                                $41,829,918      $41,657,036
                                                                   =============    =============

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

Long-Term Debt:
  Mortgages payable (Note 5)                                         $6,254,280       $6,439,933
  Other (Note 6)                                                        467,243          490,716
                                                                   -------------    -------------
       Total long-term debt                                           6,721,523        6,930,649
                                                                   -------------    -------------

Deferred Income Taxes                                                 1,838,000        1,740,000
                                                                   -------------    -------------

Current Liabilities:
  Accounts payable                                                       57,341           29,728
  Payroll and other accrued liabilities                                 440,820          380,140
  Other taxes payable                                                     3,989            2,205
  Current portion of long-term debt - mortgages payable (Note 5)      1,382,941        1,396,711
  Current portion of long-term debt - other (Note 6)                    110,197          110,165
                                                                   -------------    -------------
       Total current liabilities                                      1,995,288        1,918,949
                                                                   -------------    -------------

       Total liabilities                                             10,554,811       10,589,598
                                                                   -------------    -------------

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                       50,167          136,998
  Retained earnings                                                  25,990,500       25,696,000
                                                                   -------------    -------------
                                                                     31,565,209       31,357,540
  Less common stock held in treasury, at cost - 42,517
    shares at October 31, 1999 and  July 31, 1999                       290,102          290,102
                                                                   -------------    -------------
       Total shareholders' equity                                    31,275,107       31,067,438
                                                                   -------------    -------------

Contingencies (Note 12)

       TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY                   $41,829,918      $41,657,036
                                                                   =============    =============

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
                                                                                October 31,
<S>                                                                   <C>              <C>
                                                                      --------------- ----------------
                                                                           1999            1998
                                                                      --------------  --------------
                                                                       (Unaudited)     (Unaudited)

Revenues
  Rental income (Note 8)                                                  $2,601,502      $2,576,502

  Rental income - affiliated company                                         103,403         103,403
                                                                       --------------  --------------
      Total revenues                                                       2,704,905       2,679,905
                                                                       --------------  --------------


Expenses
  Real estate operating expenses                                           1,358,842       1,315,137
  Administrative and general expenses                                        542,313         519,499
  Depreciation and amortization                                              246,241         246,203
                                                                       --------------  --------------
       Total expenses                                                      2,147,396       2,080,839
                                                                       --------------  --------------
Income  from operations before investment income,
  interest expense and income taxes                                          557,509         599,066
                                                                       --------------  --------------
Investment income and interest expense:
  Investment income                                                           64,395          64,098
  Interest expense (Notes 5 and 10)                                         (160,404)       (172,849)
                                                                       --------------  --------------
                                                                             (96,009)       (108,751)
                                                                       --------------  --------------

Income before income taxes                                                   461,500         490,315
Income taxes provided                                                        167,000         169,000
                                                                       --------------  --------------
Net income                                                                   294,500         321,315

Retained earnings, beginning of period                                    25,696,000      24,532,178
                                                                       --------------  --------------
Retained earnings, end of period                                         $25,990,500     $24,853,493
                                                                       ==============  ==============

Net income per common share (Note 2)                                            $.14            $.15
                                                                       ==============  ==============

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

Average common shares outstanding                                          2,135,780       2,135,780
                                                                       ==============  ==============


See Notes to the Consolidated Financial Statements.




                               CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME

                                                                             Three Months Ended
                                                                                 October 31,
                                                                      --------------- ----------------
                                                                           1999            1998
                                                                      --------------  --------------
                                                                        (Unaudited)     (Unaudited)

Net Income                                                                  $294,500        $321,315
                                                                       --------------  --------------

Other comprehensive income, net of tax (Note 3)

   Unrealized (loss) on available-for-sale securities:  Net of tax benefits,
       $45,000 and $11,000 for the three months ended
       October 31, 1999 and 1998, respectively.                              (86,831)        (58,905)
                                                                       --------------  --------------

                                                                       --------------  --------------
Comprehensive Income                                                        $207,669        $262,410
                                                                       ==============  ==============


See Notes to Consolidated Financial Statements.
                                                    -4-
</TABLE>
<PAGE>
<TABLE>

<CAPTION>
                       J.  W.  MAYS,  INC.

              CONSOLIDATED STATEMENT OF CASH FLOWS


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

Cash Flows From Operating Activities:
Net income                                                             $294,500         $321,315

Adjustments to reconcile income to
 net cash provided by operating activities:
  Amortization of premium on marketable debt securities                     -               (167)
  Realized loss on marketable securities                                    -                  4
  Depreciation and amortization                                         246,241          246,203
  Amortization of deferred expenses                                      53,181           56,505
  Other assets - deferred expenses                                      (12,048)          (6,480)
                      - unbilled receivables                            (77,092)         (99,297)
                      - unbilled receivables - affiliated company        45,484           45,484
                      - receivables                                       3,278           53,699
                      - receivables - affiliated company                    -             40,625
  Deferred income taxes                                                 134,000          132,000

Changes in:
  Receivables                                                           106,017          125,886
  Prepaid expenses                                                      451,876          444,957
  Income taxes refundable                                                28,057              -
  Accounts payable                                                       27,613            6,707
  Payroll and other accrued liabilities                                  60,680          (20,271)
  Income taxes payable                                                      -            (63,142)
  Other taxes payable                                                     1,784            1,389
                                                                   -------------    -------------
     Cash provided by operating activities                            1,363,571        1,285,417
                                                                   -------------    -------------

Cash Flows From Investing Activities:
  Capital expenditures                                                 (478,461)        (415,772)
  Security deposits                                                      (3,746)           5,093
  Marketable securities: available for sale
    Receipts from sales or maturities                                    50,000           50,000
    Payments for purchases                                             (175,401)        (224,434)
                                                                   -------------    -------------
       Cash  (used) by investing activities                            (607,608)        (585,113)
                                                                   -------------    -------------

Cash Flows From Financing Activities:
  Increase - security deposits                                            2,559              607
  Payments - mortgage and other debt                                   (225,423)        (228,868)
                                                                   -------------    -------------
      Cash (used) by financing activities                              (222,864)        (228,261)
                                                                   -------------    -------------

Increase in cash                                                        533,099          472,043

Cash and cash equivalents at beginning of period                      1,489,843        1,047,979
                                                                   -------------    -------------

Cash and cash equivalents at end of period                           $2,022,942       $1,520,022
                                                                   =============    =============

See Notes to 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, 1999 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, 1999.  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, 2000.

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 month periods ended October 31, 1999 and October 31, 1998. 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. Recent Accounting Pronouncements:


   In June 1997, SFAS No. 130, "Reporting Comprehensive Income" ("SFAS 130"),
   was issued.  SFAS 130 establishes standards for the reporting of
   comprehensive income and its components.  It requires all items that are
   required to be recognized as components of comprehensive income be reported
   in a financial statement that is displayed with the same prominence as
   other income statement information.  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 was required upon adoption.

   In June 1997, SFAS No 131, "Disclosures about Segments of an Enterprise and
   Related Information" ("SFAS 131"), was issued.  SFAS 131 establishes
   standards for the way that public business enterprises report information
   about operating segments in annual financial statements and requires that
   those enterprises report selected information about operating segments in
   annual financial statements and in interim financial reports issued to
   shareholders.  SFAS 131 is effective for financial statements for periods
   beginning after December 15, 1997.

   In February 1998, the Financial Accounting Standards Board issued Statement
   of Financial Standards No. 132, "Employers' Disclosures about Pensions and
   Other Postretirement Benefits", ("SFAS 132"),  effective for fiscal years
   beginning after December 15, 1997.  The Company's Retirement Plan is 100%
   funded, with Company contributions made quarterly, and there will be no
   additional liability recognized by the Company.

   The adoption of SFAS 131 and SFAS 132 did not have an effect on the
   Company's financial statements, and SFAS 130 is reflected in the October
   31, 1999 financial statements.


<PAGE>
<TABLE>
<CAPTION>
         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.


<S>          <C>                                               <C>            <C>              <C>            <C>

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


                                                                                  Gross            Gross
                                                                               Unrealized       Unrealized        Fair
                                                                   Cost           Gains           Losses          Value
                                                               -------------  -------------    -------------  -------------
  Current:

            Certificate of deposit                                   $40,394           $-               $-          $40,394
                                                                =============  =============    =============  =============

  Noncurrent:
            Available for sale:
              Equity securities                                   $2,923,403        $75,167             $-       $2,998,570
                                                                =============  =============    =============  =============






  Investment income consists of the following:
                                                                     Three Months Ended
                                                                         October 31,
                                                                -------------  -------------
                                                                     1999           1998
                                                                 ------------   ------------
              Interest income                                        $18,355        $21,126
              Dividend income                                         46,040         42,976
             (Loss) on sale of securities                                -               (4)
                                                                -------------  -------------
                 Total                                               $64,395        $64,098
                                                                =============  =============











                                                                             -7-
</TABLE>
<PAGE>

5. Long-Term Debt:

<TABLE>

<CAPTION>
                                                                   October 31, 1999                   July 31, 1999
                                                            --------------------------------   --------------------------
                                        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      $3,066,667          $266,667   $3,133,333
  Jowein building, Brooklyn, N.Y.  (b)      9 %    3/31/00          652,976               -           675,050          -
  Fishkill, New York property      (c)  8 1/4 %    7/01/04           83,971       2,231,168            82,263    2,252,812
  Circleville, Ohio property       (d)      7 %    9/30/02          369,419         784,344           363,029      879,130
  Other                                 8 1/2 %    5/01/01            9,909         172,101             9,702      174,658
                                                              --------------  --------------    --------------  ----------
       Total                                                     $1,382,941      $6,254,280        $1,396,711   $6,439,933
                                                              ==============  ==============    ==============  ==========
</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)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.

(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>
6.   Long-Term Debt - Other:

     Long-Term debt - Other consists of the following:


<TABLE>

<CAPTION>
                                                                    October 31, 1999                  July 31, 1999
                                                            -------------------------------  -------------------------------

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

Deferred compensation  *                                          $104,000        $121,333         $104,000        $147,333
Lease security deposits  **                                          6,197         345,910            6,165         343,383
                                                              -------------   -------------    -------------   -------------
    Total                                                         $110,197        $467,243         $110,165        $490,716
                                                              =============   =============    =============   =============
</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 October 31, 1999 and at July 31, 1999, provided by three tenants.


7.   Property and Equipment - at cost:



<TABLE>

<CAPTION>
                                                                   October 31,        July 31,
                                                                       1999             1999
                                                                ---------------  ---------------
<S>                                                              <C>              <C>
Property:
  Buildings and improvements                                       $37,103,738      $36,775,251
  Improvements  to  leased  property                                 9,158,009        9,143,369
  Land                                                               4,008,835        4,008,835
  Construction in progress                                             809,010          694,042
                                                                  -------------    -------------
                                                                    51,079,592       50,621,497
  Less accumulated depreciation                                     22,269,298       22,035,879
                                                                  -------------    -------------
     Property - net                                                 28,810,294       28,585,618
                                                                  -------------    -------------

Fixtures and equipment and other:
  Fixtures and equipment                                               569,395          567,057
  Other fixed assets                                                   209,223          208,775
                                                                  -------------    -------------
                                                                       778,618          775,832
  Less accumulated depreciation                                        570,657          575,415
                                                                  -------------    -------------
    Fixtures and equipment and other - net                             207,961          200,417
                                                                  -------------    -------------

        Property and equipment - net                               $29,018,255      $28,786,035
                                                                  =============    =============
</TABLE>
<PAGE>
  8.  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 $103,403 for each of the quarters ended October 31,
     1999 and October 31, 1998, representing rentals from an affiliated
     company.

     Amounts due from the affiliated company are as follows:


<TABLE>

<CAPTION>
                                                      October 31,     July 31,
                                                         1999           1999
                                                  ------------------------------
<S>                                               <C>            <C>

                                                        $500,328       $545,812
                                                    =============  =============
</TABLE>

9.   Employees' Retirement Plan:

     The Company sponsors a noncontributory Money Purchase Plan covering
     substantially all of its employees.  Operations were charged $54,040 and
     $50,500 as contributions to the Plan for the three months ended October
     31, 1999 and October 31, 1998, respectively.


10.  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>
                                                         Three Months Ended
                                                             October 31,
                                                  ------------------------------
                                                         1999           1998
                                                      __________     __________
<S>                                               <C>            <C>
Interest paid                                           $161,727       $174,212
Income taxes paid                                         $4,943       $100,100

</TABLE>

11.  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 October 31, 1999.  That tenant accounted for 15.82%.

12.  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

     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 $465,811, or 49% on account of its
     unsecured claim, and 100% of its allowed administrative claim of $54,887,
     for a total of $520,698.  The Company has realized from McCrory $36,602,
     or 21.53% on account of its administrative claim of $170,000.  McCrory
     sold substantially all of its assets and the proceeds of sale were
     insufficient to make any distribution to unsecured creditors.

     The Company has made no provision in its financial statements for the
     balance of its claims filed against Jamesway and McCrory due to the fact
     that there are not likely to be any further distributions by either
     company.

     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.


13.  Subsequent Event:

     The Company's common stock has been listed on the Nasdaq National Market.
     The Company was notified by Nasdaq Amex that the Company's market value of
     its public float relating to its common stock has not been sufficient to
     maintain the listing on The Nasdaq National Market.  The Company applied
     for listing on The Nasdaq SmallCap Market which application was approved.
     The Company's securities were transferred from The Nasdaq National Market
     to The Nasdaq SmallCap Market, effective November 8, 1999.
<PAGE>
                               J. W. MAYS, INC.
         MANAGEMENT'S DISCUSSION AND ANALYSIS OF RESULTS OF OPERATIONS
                            AND FINANCIAL CONDITION


Results of Operations:

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

In the three months ended October 31, 1999, the Company reported net income of
$294,500, or $.14 per share.  In the comparable three months ended October 31,
1998, the Company reported net income of $321,315, or $.15 per share

Revenues in the current three months increased to $2,704,905 from  $2,679,905
in the comparable 1998 three months.

Real estate operating expenses in the current three months increased to
$1,358,842 from $1,315,137 in the comparable 1998 three months primarily due
to an increase in real estate taxes, electric costs and licenses and permits,
partially offset by an decrease in payroll and maintenance costs.

Administrative and general expenses in the current three months increased to
$542,313 from $519,499 in the comparable 1998 three months primarily due to an
increase in payroll and medical costs, partially offset by a decrease in legal
and professional costs.

Depreciation and amortization expense in the current three months increased to
$246,241 from $246,203 in the three months ended October 31, 1998.

Interest expense in the current three months exceeded investment income by
$96,009 and by $108,751 in the comparable 1998 three months. The decrease was
primarily due to scheduled repayments.


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 $2,022,942 at October 31,
1999.
<PAGE>
Cash Flows From Operating Activities:

Prepaid expenses:  Cash expenditures for the three months ended October 31,
1999 increased by $14,944 compared to the comparable three months ended
October 31, 1998, due primarily to an increase in real estate taxes.

Cash Flows From Investing Activities:

Capital Expenditures:  The Company had expenditures of approximately $91,830
for the three months ended October 31, 1999 for renovations at its Jamaica,
New York building.  The expenditures at the Jamaica building are part of the
exterior facade renovation which the Company anticipates will cost
approximately $1,200,000.  As of October 31, 1999, the Company has expended a
total of $1,148,890.  The renovations were completed during November 1999.

The Company had expenditures of $103,888 for renovations at its Brooklyn, New
York building for the three months ended October 31, 1999.  The Company is
building a new lobby at this location to enable the Company to attract
additional tenants to the property.  The cost of the new lobby is estimated to
be approximately $620,000.  Work commenced in April 1999 and is expected to be
completed by January 2000.  As of October 31, 1999, the Company has expended a
total of $332,679 for the lobby.

The Company had expenditures of $200,971 for the three months ended October
31, 1999 for the installation of heating, ventilating and air conditioning
units at its Fishkill, New York building.  The cost of the equipment was
approximately $320,000.  The work was completed in November 1999.  As of
October 31, 1999, the Company expended a total of $300,971.

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 three months ended October 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     December 7, 1999                        Lloyd J. Shulman
                                              ----------------------------
                                               Lloyd J. Shulman
                                               Chairman



Date     December 7, 1999                        Alex Slobodin
                                              ----------------------------
                                               Alex Slobodin
                                               Exec. Vice-President
                                               (Principal Financial Officer)