FORM 10-Q

                                 UNITED STATES
                      SECURITIES AND EXCHANGE COMMISSION
                            Washington, D. C. 20549

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

 For the quarterly period ended   January 31, 2006

[   ]  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 ___

Indicate by check mark whether the registrant is a large accelerated filer, an
accelerated filer, or a non-accelarated filer.  See definition of "accelerated
filer and large accelerated filer" in Rule 12b-2 of the Exchange Act.
Large accelerated filer ___  Accelerated filer ___  Non-accelerated filer _X_

Indicate by check mark whether the registrant is a shell company (as defined in
Rule 12b-2 of the Exchange Act)         Yes ___       No  _X_

Indicate the number of shares outstanding of the issuer's common stock, as of
the latest practicable date.

        Class                                Outstanding at March 9, 2006
Common Stock,  $1 par value                       2,015,780 shares

                                             This report contains 20 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

       Controls and Procedures                                15


Part II  -  Other Information                                 16

       Signatures                                             17

       (31) Certifications Pursuant to Section 302 of the
            Sarbanes-Oxley Act of 2002
            (31.1) - Chief Executive Officer                  18
            (31.2) - Chief Financial Officer                  19

       (32) Certification Pursuant to Section 906 of the
            Sarbanes-Oxley Act of 2002;
            18 U.S.C. Section 1350                            20

                                     - 2-
<PAGE>
<TABLE>

<CAPTION>


                               J.  W.  MAYS,  INC.

                           CONSOLIDATED BALANCE SHEET
                                                                     January 31,       July 31,
                             ASSETS                                     2006             2005
<S>                                                               <C>              <C>
 --------------------------------------------------------------- ---------------  ---------------
                                                                    (Unaudited)       (Audited)

Property and Equipment - Net (Notes 6 and 7)                        $45,069,029      $44,636,667
                                                                   -------------    -------------

Current Assets:
  Cash and cash equivalents                                             604,512          522,897
  Marketable securities  (Note 4)                                        45,806           45,668
  Receivables                                                           112,339          141,192
  Deferred income taxes                                                 113,000          104,000
  Income taxes refundable                                                29,646          234,616
  Prepaid expenses                                                    1,368,322        1,552,114
  Security deposits                                                      16,171           66,998
                                                                   -------------    -------------
       Total current assets                                           2,289,796        2,667,485
                                                                   -------------    -------------

Other Assets:
  Deferred charges                                                    3,046,894        2,830,730
  Less accumulated amortization                                       1,353,497        1,188,451
                                                                   -------------    -------------
       Net                                                            1,693,397        1,642,279
  Security deposits                                                   1,380,574        1,233,116
  Unbilled receivables (Note 10)                                      4,320,520        4,422,984
  Marketable securities  (Note 4)                                     2,743,935        2,574,514
                                                                   -------------    -------------
       Total other assets                                            10,138,426        9,872,893
                                                                   -------------    -------------


        TOTAL ASSETS                                                $57,497,251      $57,177,045
                                                                   =============    =============

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

Long-Term Debt:
  Mortgages and term loan payable (Note 6)                          $11,945,598      $12,476,347
  Note payable - related party (Note 8)                               1,000,000        1,000,000
  Security deposits payable                                           1,071,668          924,341
                                                                   -------------    -------------
       Total long-term debt                                          14,017,266       14,400,688
                                                                   -------------    -------------

Deferred Income Taxes                                                 3,153,000        3,151,000
                                                                   -------------    -------------

Current Liabilities:
  Payable to securities broker (Note 9)                                 550,916              -
  Accounts payable                                                       54,825           65,539
  Payroll and other accrued liabilities                               1,127,941        1,133,918
  Other taxes payable                                                     4,364            5,188
  Current portion of mortgages payable (Note 6)                       1,053,693        1,015,173
  Current portion of security deposits payable                           16,171           66,998
                                                                   -------------    -------------
       Total current liabilities                                      2,807,910        2,286,816
                                                                   -------------    -------------

       Total liabilities                                             19,978,176       19,838,504
                                                                   -------------    -------------

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 - net of deferred taxes of
     $658,000 at January 31, 2006 and $600,000 at July 31, 2005       1,275,686        1,164,264
  Retained earnings                                                  32,006,699       31,937,587
                                                                   -------------    -------------
                                                                     38,806,927       38,626,393
  Less common stock held in treasury, at cost - 162,517
    shares at January 31, 2006 and at July 31, 2005 (Note 13)         1,287,852        1,287,852
                                                                   -------------    -------------
       Total shareholders' equity                                    37,519,075       37,338,541
                                                                   -------------    -------------

Contingencies (Note 14)

       TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY                   $57,497,251      $57,177,045
                                                                   =============    =============

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                Six Months Ended
                                                                         January 31,                       January 31,
                                                               --------------- ----------------  --------------- ------------
                                                                    2006            2005              2006          2005
<S>                                                           <C>             <C>
                                                                --------------  --------------    --------------  ----------
                                                                (Unaudited)     (Unaudited)       (Unaudited)    (Unaudited)

Revenues
  Rental income (Notes 5 and 10)                                   $3,355,014      $3,171,903        $6,695,933  $6,328,846

  Recovery of real estate taxes                                        31,770             -              31,770         -
                                                                --------------  --------------    --------------  ----------
      Total revenues                                                3,386,784       3,171,903         6,727,703   6,328,846
                                                                --------------  --------------    --------------  ----------


Expenses
  Real estate operating expenses                                    2,027,850       1,868,003         3,869,941   3,649,137
  Administrative and general expenses                                 788,914         748,881         1,488,926   1,443,509
  Depreciation and amortization                                       382,553         388,899           761,753     712,709
                                                                --------------  --------------    --------------  ----------
       Total expenses                                               3,199,317       3,005,783         6,120,620   5,805,355
                                                                --------------  --------------    --------------  ----------
Income  from operations before investment income,
  interest expense and income taxes                                   187,467         166,120           607,083     523,491
                                                                --------------  --------------    --------------  ----------
Investment income and interest expense
  Investment income (Note 4)                                           20,671          19,553            41,123      40,925
  Interest expense (Notes 6, 8, 9 and 12)                            (249,335)       (173,750)         (482,094)   (330,617)
                                                                --------------  --------------    --------------  ----------
                                                                     (228,664)       (154,197)         (440,971)   (289,692)
                                                                --------------  --------------    --------------  ----------

Income (loss) before income taxes                                     (41,197)         11,923           166,112     233,799
Income taxes provided (benefit)                                        17,000         (24,000)           97,000      83,000
                                                                --------------  --------------    --------------  ----------
Net income (loss)                                                     (58,197)         35,923            69,112     150,799

Retained earnings, beginning of period                             32,064,896      31,704,095        31,937,587  31,589,219
                                                                --------------  --------------    --------------  ----------
Retained earnings, end of period                                  $32,006,699     $31,740,018       $32,006,699 $31,740,018
                                                                ==============  ==============    ==============  ==========

Income per common share  (Note 2)                                       $(.03)           $.01              $.03        $.07
                                                                ==============  ==============    ==============  ==========

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

Average common shares outstanding                                   2,015,780       2,015,780         2,015,780   2,015,780
                                                                --------------  --------------    --------------  ----------


See Notes to Consolidated Financial Statements.


                                      CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME

                                                                       Three Months Ended                Six Months Ended
                                                                          January 31,                       January 31,
                                                               --------------- ----------------   -------------- ------------
                                                                     2006            2005              2006          2005
                                                               --------------- ----------------   -------------- ------------
                                                                   (Unaudited)     (Unaudited)       (Unaudited) (Unaudited)

Net income (loss)                                                    $(58,197)        $35,923           $69,112    $150,799
                                                                --------------  --------------    --------------  ----------

Other comprehensive income, net of taxes (Note 3)


   Unrealized gain on available-for-sale securities:
       Net of taxes of $11,000 and $39,000 for the three
       months ended January 31, 2006 and 2005, respectively,
       and $58,000 and $49,000 for the six months ended
       January 31, 2006 and 2005, respectively.                         6,497          74,277           111,422      94,493
                                                                --------------  --------------    --------------  ----------

  Net change in comprehensive income                                    6,497          74,277           111,422      94,493
                                                                --------------  --------------    --------------  ----------

Comprehensive income (loss)                                          $(51,700)       $110,200          $180,534    $245,292
                                                                ==============  ==============    ==============  ==========


See Notes to Consolidated Financial Statements.

                                     - 4-

</TABLE>

<PAGE>
<TABLE>

<CAPTION>
                                       J.  W.  MAYS,  INC.

                              CONSOLIDATED STATEMENT OF CASH FLOWS


                                                                          Six Months Ended
                                                                             January 31,
                                                                 ---------------  ---------------
                                                                      2006             2005
                                                                 ---------------  ---------------
<S>                                                               <C>              <C>
                                                                   (Unaudited)      (Unaudited)

Cash Flows From Operating Activities:
Net income                                                              $69,112         $150,799

Adjustments to reconcile income to
  net cash provided by operating activities:
  Depreciation and amortization                                         761,753          712,709
  Amortization of deferred expenses                                     182,546          149,398
  Other assets - deferred expenses                                     (233,664)        (613,966)
                       - unbilled receivables                           102,464          (50,246)
  Deferred income taxes                                                 (65,000)         (35,000)
Changes in:
  Receivables                                                            28,853           79,689
  Prepaid expenses                                                      183,792          216,786
  Income taxes refundable                                               204,970         (131,705)
  Accounts payable                                                      (10,714)          18,151
  Payroll and other accrued liabilities                                  (5,977)         216,189
  Other taxes payable                                                      (824)           1,884
                                                                   -------------    -------------
     Cash provided by operating activities                            1,217,311          714,688
                                                                   -------------    -------------

Cash Flows From Investing Activities:
  Capital expenditures                                               (1,194,115)      (3,448,602)
  Security deposits                                                     (96,631)         (94,044)
  Marketable securities:
    Payments for purchases                                                 (137)            (137)
                                                                   -------------    -------------
       Cash  (used) by investing activities                          (1,290,883)      (3,542,783)
                                                                   -------------    -------------

Cash Flows From Financing Activities:
  Borrowings - securities broker                                        553,166          658,144
  Payments - securities broker                                           (2,250)      (1,436,275)
  Increase - security deposits                                           96,500          165,580
  Borrowings - mortgage and other debt                                      -          3,820,000
  Decrease - mortgage and other debt payments                          (492,229)        (320,619)
                                                                   -------------    -------------
      Cash provided by financing activities                             155,187        2,886,830
                                                                   -------------    -------------

Increase in cash                                                         81,615           58,735

Cash and cash equivalents at beginning of period                        522,897          603,289
                                                                   -------------    -------------

Cash and cash equivalents at end of period                             $604,512         $662,024
                                                                   =============    =============

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 accounting
   principles generally accepted in the United States of America ("GAAP").
   The preparation of the Company's financial statements in accordance with
   GAAP requires management to make estimates that affect the reported
   consolidated statements of income and retained earnings, comprehensive
   income, and the consolidated balance sheets 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 January 31, 2006 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 fiscal
   year ended July 31, 2005.  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 fiscal year ending July 31, 2006.

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 2,015,780 for the
   six months ended January 31, 2006 and January 31, 2005.

3. Comprehensive Income:

   Statement of Financial Accounting Standards (SFAS) No. 130, "Reporting
   Comprehensive Income", 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.  Comprehensive income is defined to
   include all changes in equity except those resulting from investments by
   and distributions to shareholders.

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.

                                     - 6-
<PAGE>
<TABLE>
<CAPTION>

  As of January 31, 2006, 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>
    Held-to-maturity:

      Certificate of deposit                               $45,806           $-               $-          $45,806
                                                      =============  =============    =============  =============
  Noncurrent:
    Available-for-sale:
      Equity securities                                   $810,250     $1,933,685             $-       $2,743,935
                                                      =============  =============    =============  =============

  Investment income consists of the following:

                                                            Three Months Ended              Six Months Ended
                                                               January 31,                     January 31,
                                                      ----------------------------    ----------------------------
                                                             2006           2005             2006           2005
                                                      -------------  -------------    -------------  -------------
  Interest income                                             $996         $1,168           $1,773         $4,801
  Dividend income                                           19,675         18,385           39,350         36,124
                                                      -------------  -------------    -------------  -------------
       Total                                               $20,671        $19,553          $41,123        $40,925
                                                      =============  =============    =============  =============

</TABLE>

5. 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 forty-five tenants, of which one
   tenant accounted for 16.21% and another tenant accounted for 11.70% of
   rental income during the six months ended January 31, 2006.  No other
   tenant accounted for more than 10% of rental income during the same
   period.

   The Company has two irrevocable Letters of Credit totaling $137,500 at
   January 31, 2006 and July 31, 2005, provided by two tenants.

                                     - 7-
<PAGE>
6. Long-Term Debt - Mortgages and Term Loan:

<TABLE>

<CAPTION>
Long Term Debt - Mortgages and Term Loan:
                                                                    January 31, 2006                   July 31, 2005
                                                            --------------------------------  ---------------------------------
                                        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)        5%  4/01/07          $266,667      $1,400,000          $266,667       $1,533,333
  Jamaica, New York property       (b)     6.98%  8/01/06           185,326       2,645,971           178,937        2,739,452
  Jowein building, Brooklyn, NY    (c)     9.00%  4/01/09            51,286       1,189,539            49,055        1,215,752
  Fishkill, New York property      (d,e)Variable  2/18/08                 -       1,834,726                 -        1,834,726
  Bond St. building, Brooklyn, NY  (e)  Variable  2/18/08                 -       2,820,000                 -        2,820,000
  Term-loan payable to bank        (f)     6.50%  5/01/10           310,414       1,195,362           300,514        1,353,084
  Jowein building, Brooklyn, NY    (g)  Variable  8/01/10           240,000         860,000           220,000          980,000
                                                              --------------  --------------    --------------  ---------------
       Total                                                     $1,053,693     $11,945,598        $1,015,173      $12,476,347
                                                              ==============  ==============    ==============  ===============
</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, New York property.  The
    outstanding balance of the loan, totaling $1,355,555 will become due and
    payable on April 1, 2007.

(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
    outstanding balance of the loan, totaling $2,739,452, will become due and
    payable on August 1, 2006.  The Company has the option to extend this loan
    for an additional five (5) years.  The interest rate for the extended
    period will be 2.25% above the 5-year treasury rate in effect on the first
    maturity date.  It is the intention of the Company to exercise its option
    to extend the loan for the additional five (5) years.

    Payments are to be made, in arrears, on the first day of each and every
    month calculated 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 on the Jamaica property and the sale or transfer of the
    Company's ground lease interest in the premises.

(c) The Company, on May 7, 2004, closed a loan with 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, in the amount of $1,350,000.  The term of the loan is for a
    period of five (5) years at an interest rate of 9.00% per annum.  Interest
    and amortization of principal are paid quarterly based on a fifteen (15)
    year level amortization period.  The constant quarterly payments of
    interest and principal are $40,316.  The funds were used to purchase a
    one-half interest in a property that is part of the Company's Brooklyn, New
    York building (Bond Street building).  The outstanding balance of the loan,
    totaling $1,056,007, will become due and payable on April 1, 2009.

(d) On June 2, 1999, the existing first mortgage loan balance on the
    Fishkill, New York property was extended for a period of five years.  Under
    the terms of the extension agreement the annual interest rate was reduced
    from 9% to 8.25% and the interest and principal payments were made in
    constant monthly amounts based upon a fifteen (15) year payout period.  On
    August 19, 2004, the Company extended the loan for an additional forty-two
    (42) months, with an option to convert the loan to a seven (7) year
    permanent mortgage loan.  The payments for the extended period of forty-two
    (42) months will be interest only on the amount owing at a floating rate
    per annum equal to the one-month LIBOR rate plus 2.25%, but not less than

                                     - 8-

    3.40%.  The payments for the seven-year permanent mortgage loan would be on
    a seventeen (17) year level amortization, plus interest.  The interest rate
    on the permanent loan would be a fixed rate equal to the Federal Home Loan
    Bank of New York`s seven-year (7) fixed interest rate plus 2.25% per annum.
    (See Note 6(e)).

(e) The Company, on August 19, 2004, closed a loan with a bank for a
    $12,000,000 multiple draw term loan.  This loan finances seventy-five (75%)
    percent of the cost of capital improvements for an existing lease to a
    tenant and capital improvements for future tenant leases at the Company's
    Brooklyn, New York (Bond Street building) and Fishkill, New York
    properties.  The loan also refinances the existing mortgage on the
    Company's Fishkill, New York property which matured on July 1, 2004 (see
    Note 6 (d)).  The Company will have three and one-half years to draw down
    amounts under this loan.  The loan consists of:  a) a permanent, first
    mortgage loan to refinance an existing first mortgage loan affecting the
    Fishkill Property (the "First Permanent Loan") (see Note 6(d)), b) a
    permanent subordinate mortgage loan in the amount of $1,870,000 (the
    "Second Permanent Loan"), and c) multiple, successively subordinate loans
    in the amount $8,295,274 ("Subordinate Building Loans").  The loan is
    structured in two phases:  1) a forty-two month loan with payments of
    interest only at the floating one-month LIBOR rate plus 2.25% per annum,
    but not less than 3.40%; and 2) after the forty-two month period, the loan
    would convert to a seven-year (7) permanent mortgage loan on a seventeen
    (17) year level amortization, plus interest, at the option of the Company.
    The interest rate on the permanent loan would be at a fixed rate equal to
    the Federal Home Loan Bank of New York's seven-year (7) fixed interest rate
    plus 2.25% per annum at the time of conversion.  As of August 19, 2004, the
    Company refinanced the existing mortgage on the Company's Fishkill, New
    York property, which balance was $1,834,726 and took down an additional
    $2,820,000 for capital improvements for two tenants at the Company's Bond
    Street building in Brooklyn, New York.  The outstanding balance as of
    January 31, 2006 was $4,654,726.

(f) On February 18, 2005, the Company secured financing in the amount of
    $1,700,000, from a bank whose president is a director of the Company.  The
    loan will be used to finance the construction costs and brokerage
    commissions associated with the leasing of 28,801 square feet for office
    use to a tenant at the Company's Jowein building, in Brooklyn, New York.
    The loan is a multiple draw demand loan, for a period of five (5) years,
    and is self-amortizing, at an interest rate of 6.50% per annum.

(g) The Company, on July 22, 2005, closed a loan with a bank for
    $1,200,000.  The loan will be used to finance the construction costs and
    brokerage commissions associated with the leasing of 15,000 square feet for
    office use to a tenant at the Company's Jowein building in Brooklyn, New
    York.  The loan will be secured by the assignment of lease of 15,000 square
    feet.  The loan is for a period of five (5) years and is self-amortizing,
    at a floating interest rate of prime plus 1.00% per annum.

                                     - 9-
<PAGE>
7.  Property and Equipment - at cost:

<TABLE>
<CAPTION>
                                                                  January 31,         July 31,
                                                                       2006             2005
                                                                ---------------  ---------------
<S>                                                              <C>              <C>
Property:
  Buildings and improvements                                       $58,966,856      $57,368,282
  Improvements  to  leased  property                                 9,158,009        9,158,009
  Land                                                               6,146,554        6,146,554
  Construction in progress                                             188,086          592,545
                                                                  -------------    -------------
                                                                    74,459,505       73,265,390
  Less accumulated depreciation                                     29,625,619       28,895,827
                                                                  -------------    -------------
     Property - net                                                 44,833,886       44,369,563
                                                                  -------------    -------------

Fixtures and equipment and other:
  Fixtures and equipment                                               719,322          719,322
  Other fixed assets                                                   257,472          257,472
                                                                  -------------    -------------
                                                                       976,794          976,794
  Less accumulated depreciation                                        741,651          709,690
                                                                  -------------    -------------
  Fixtures and equipment and other - net                               235,143          267,104
                                                                  -------------    -------------

        Property and equipment - net                               $45,069,029      $44,636,667
                                                                  =============    =============
</TABLE>

8.   Note Payable:

     On December 15, 2004, the Company borrowed $1,000,000 from a director of
     the Company, who is also a greater than 10% beneficial owner of the
     outstanding common stock of the Company.  The term of the loan is for a
     period of three (3) years maturing on December 15, 2007, at an interest
     rate of 7.50% per annum.  The loan is unsecured.  The note is prepayable
     in whole or in part at any time without penalty.  The funds were used
     towards the purchase of a one-half interest in a parcel which is part of
     the Company's Brooklyn, New York properties.  The total purchase price was
     $1,500,000.  The constant quarterly payments of interest are $18,750.

9.   Payable to Securities Broker:

     The Company borrowed funds, payable on demand, from a securities broker.
     The loan balance at January 31, 2006 in the amount of $550,916, secured by
     the Company's marketable securities, accrues interest at a floating rate,
     which at January 31, 2006, was at the annual rate of 7.50%.

10.  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.

11.  Employees' Retirement Plan:

     The Company sponsors a noncontributory Money Purchase Plan covering
     substantially all of its employees.  Operations were charged $75,378 and
     $148,242 as contributions to the Plan for the three and six months ended
     January 31, 2006, respectively, and $72,390 and $142,393 as contributions
     to the Plan for the three and six months ended January 31, 2005,
     respectively.

                                     -10-
<PAGE>
12.  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.


     Supplemental disclosure:                         Six Months Ended
                                                         January 31,
                                                ---------------------------
                                                     2006           2005
                                                -------------  ------------

     Interest paid, net of capitalized interest
          of $10,421 (2006)                        $475,921       $318,284
     Income taxes paid (refunded)                  $(42,970)      $249,705


13.  Capitalization:

     The Company is capitalized entirely through common stock with identical
     voting rights and rights to liquidation.  Treasury stock is recorded at
     cost and consists of 162,517 shares at January 31, 2006 and at July 31,
     2005.

14.  Contingencies:

     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 January 31, 2006 Compared to the Three Months Ended January
31, 2005:

In the three months ended January 31, 2006, the Company reported net loss of
$(58,197), or $(.03) per share.  In the comparable three months ended January
31, 2005, the Company reported net income of $35,923, or $.01 per share.

Revenues in the current three months increased to $3,386,784 from $3,171,903
in the comparable 2005 three months.  The increase in revenues was due to the
Company's leasing to two office tenants at its Jowein building in Brooklyn,
New York, and the leasing to a retail tenant at its Jamaica, New York
building, partially offset by a tenant vacating the Levittown, New York
premises in September 2004.

The recovery of real estate taxes in the current three months in the amount of
$31,770, net of legal expenses, represents prior years' real estate taxes from
the Town of Fishkill, New York.

Real estate operating expenses in the current three months increased to
$2,027,850 from $1,868,003 in the comparable 2005 three months primarily due
to increases in real estate taxes, utilities, licenses and permits,
maintenance costs and lease commission expense, partially offset by a decrease
in insurance costs.

Administrative and general expenses in the current three months increased to
$788,914 from $748,881 in the comparable 2005 three months primarily due to
increases in legal and professional costs.

Depreciation and amortization expense in the current three months decreased to
$382,553 from $388,899 in the comparable 2005 three months.

Interest expense and other expenses in the current three months exceeded
investment income by $228,664 and by $154,197 in the comparable 2005 three
months. The increase was due primarily to increased  interest expense on the
additional loans with banks, and a note payable from a director, partially
offset by scheduled repayments of debt.

Six Months Ended January 31, 2006 Compared to the Six Months Ended January 31,
2005:

In the six months ended January 31, 2006, the Company reported net income of
$69,112, or $.03 per share.  In the comparable six months ended January 31,
2005, the Company reported net income of $150,799, or $.07 per share.

Revenues in the current six months increased to $6,727,703 from $6,328,846 in
the comparable 2005 six months.  The increase in revenues was due to the
Company's leasing to two office tenants at its Jowein building in Brooklyn,
New York, and the leasing to a retail tenant at its Jamaica, New York
building, partially offset by a tenant vacating the Levittown, New York
premises in September 2004.

The recovery of real estate taxes in the current six months in the amount of
$31,770, net of legal expenses, represents prior years' real estate taxes from
the Town of Fishkill, New York.

Real estate operating expenses in the current six months increased to
$3,869,941 from $3,649,137 in the comparable 2005 six months primarily due to
increases in real estate taxes, utilities, licenses and permits, and lease
commission expense, partially offset by decreases in payroll costs, insurance
costs and rental expense.

Administrative and general expenses in the current six months increased to
$1,488,926 from $1,443,509 in the comparable 2005 six months primarily due to
increases in payroll costs, and legal and professional costs.

Depreciation and amortization expense in the current six months increased to
$761,753 from $712,709 in the comparable 2005 six months primarily due to
depreciation on the additional improvements to the Brooklyn, New York and the
Jamaica, New York properties and acquisitions of the three parcels in
Brooklyn, New York.

                                     -12-
<PAGE>
Interest expense and other expenses in the current six months exceeded
investment income by $440,971 and by $289,692 in the comparable 2005 six
months. The increase was due primarily to increased  interest expense on the
additional loans with banks, and a note payable from a director, partially
offset by scheduled repayments of debt.


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 $604,512 at January 31,
2006.

In March 2005 and in October 2005, the Company leased 15,000 square feet and
10,000 square feet, respectively, for office use to two tenants at the
Company's Jowein building in Brooklyn, New York.  This space was a portion of
the space previously leased to the City of New York Department of Finance,
which vacated the premises in June 2004.  Rent commenced in October 2005 for
both tenants.  The Company also leased 13,026 square feet for office use to a
tenant in the Company's 9 Bond Street building in Brooklyn, New York.  Rent is
anticipated to commence in August 2006.

The  Company,  in  August  2005, entered into two  lease  agreements  with  an
existing tenant at the Company's 9 Bond Street building in Brooklyn, New York.
One  lease  agreement is for 12,000 square feet and will be used for  offices,
and  the rent commenced in March 2006. The other lease agreement is for  2,505
square  feet  and will be used as part of the tenant's retail  operation,  and
rent commenced in November 2005.

The Company has been informed by a tenant, who occupies 47,100 square feet  of
retail  space at its Jamaica, New York property, that the tenant would not  be
exercising  its option to extend its lease agreement. The tenant  vacated  the
premises on February 28, 2006. The annual loss in rental income to the Company
will  be  approximately  $600,000. The Company is  actively  seeking,  through
brokers, tenants to occupy the space.

The  lease  with the tenant that leased the entire premises at  the  Company's
Circleville,  Ohio  building, under a triple-net lease,  lease  extension  and
modification  expired September 30, 2005. The tenant entered  into  a  further
lease  extension  and modification agreement for part of the premises,  75,000
square  feet, for a period of five years, with a right to cancel  after  three
years,  to  expire  on November 11, 2010. The Company has engaged  brokers  to
pursue  tenants for the remaining 118,000 square feet of space  available  for
leasing.

On  October  11,  2005, a tenant in our Jowein building filed for  Chapter  11
protection. This tenant is expected to account for 6% of our projected  annual
income  for the year ending July 31, 2006. While we cannot ascertain what  the
effect  of  this filing will be on the Company, cash flows would be  adversely
affected by approximately $70,000 per month should the tenant reject the lease
and vacate the premises.

The tenant at the Company's Fishkill, New York property, whose lease expired
on November 26, 2005, did not renew the lease and vacated the premises.  The
annual loss in rental income from this tenant is approximately $180,000.  The
Company is actively seeking, through brokers, tenants to occupy the vacated
space.


Cash Flows From Operating Activities:

Prepaid Expenses:  Expenditures for the six months ended January 31, 2006
increased by $34,040 compared to the period ended January 31, 2005, due to
increases in insurance premiums paid, offset by decreases in real estate taxes
paid.

Deferred Expenses: The Company had expenditures for brokerage commissions in
the six months ended January 31, 2006, in the amount of $209,019 relating to
tenants at its Brooklyn, New York property.

Payroll and Other Accrued Liabilities:   The Company paid $126,243 for
commissions incurred in order to lease space at the Company's properties in
the six months ended January 31, 2006.  The original amount of the brokerage
commissions was $1,301,684.  As of January 31, 2006, $1,024,420 had been paid.
The Company also incurred additional brokerage commissions in the amount of
$209,019 relating to two tenants.

                                     -13-
<PAGE>
Cash Flows From Investing Activities:

The Company had expenditures of $530,557 for the six months ended January 31,
2006 for the renovation of 15,000 square feet for office space for a tenant at
its Jowein building in Brooklyn, New York.  The cost of the project was
$1,054,989 and was completed in September 2005.

The Company had expenditures of $266,820 for the six months ended January 31,
2006 for the renovations to an existing tenant at the Company's Jamaica, New
York property.  The tenant was on a month to month lease agreement and upon
completion of the renovations the lease agreement became a ten-year lease with
increased rental income.  The total cost of the project was $276,820 and was
completed in December 2005.

The Company had expenditures of $36,256 for the six months ended January 31,
2006 for the renovation of 13,026 square feet of office space for a tenant at
its 9 Bond Street building in Brooklyn, New York.  The cost of the project
will be $1,075,000 and is anticipated to be completed in June 2006.

Cash Flows From Financing Activities:

Lease security:   The Company increased tenant security deposits by $94,572
during the six months ended January 31, 2006, due to the leasing of space to
five tenants at the Company's Brooklyn, New York properties.

Quantitative and Qualitative Disclosures About Market Risks:

The Company uses both fixed-rate and variable-rate debt to finance its capital
requirements.  These transactions expose the Company to market risk related to
changes in interest rates.  The Company does not use derivative financial
instruments.  At January 31, 2006, the Company had fixed-rate debt of
$8,244,565 and variable-rate debt of $5,754,726.  Because of the extension of
the Fishkill, New York property loan, the Bond Street building, Brooklyn, New
York and the Jowein building, Brooklyn, New York loans (presently with
balances of $1,834,726, $2,820,000, and $1,100,000, respectively), if interest
rates were to change 100 basis points, the effect on net income from
operations and future cash flows would be a decrease, should the rates
increase, or an increase, should the rates decline, of $57,547 for these
loans.  In connection with the loan payable to securities broker in the amount
of $550,916, if interest rates were to change 100 basis points, the effect on
net income from operations and future cash flows would be a decrease, should
the rates increase, or an increase, should the rates decline, of $5,509 for
this loan.

Cautionary Statement Regarding Forward-Looking Statements:

This Quarterly Report on Form 10-Q may contain forward-looking statements
which include assumptions about future market conditions, operations and
financial results. These statements are based on current expectations and are
subject to risks and uncertainties. They are made pursuant to safe harbor
provisions of the Private Securities Litigation Reform Act of 1995. The
Company's actual results, performance or achievements in the future could
differ significantly from the results, performance or achievements discussed
or implied in such forward-looking statements herein and in prior Securities
and Exchange Commission filings by the Company. The Company assumes no
obligation to update these forward-looking statements or to advise of changes
in the assumptions on which they were based.

Factors that could cause or contribute to such differences include, but are
not limited to, changes in the competitive environment of the Company, general
economic and business conditions, industry trends, changes in government rules
and regulations and environmental rules and regulations. Statements concerning
interest rates and other financial instrument fair values and their estimated
contribution to the Company's future results of operations are based upon
market information as of a specific date. This market information is often a
function of significant judgment and estimation. Further, market interest
rates are subject to significant volatility.

                                     -14-
<PAGE>
Controls and Procedures:

The Company's management reviewed the Company's internal controls and
procedures and the effectiveness of these controls. As of January 31, 2006,
the Company carried out an evaluation, under the supervision and with the
participation of the Company's management, including its Chief Executive
Officer and Chief Financial Officer, of the effectiveness of the design and
operation of the Company's disclosure controls and procedures pursuant to
Rules 13a-14(c) and 15d-14(c) of the Securities Exchange Act of 1934. Based
upon that evaluation, the Chief Executive Officer and Chief Financial Officer
concluded that the Company's disclosure controls and procedures are effective
in timely alerting them to material information relating to the Company
required to be included in its periodic SEC filings.

There was no change in the Company's internal controls over financial
reporting or in other factors during the Company's last fiscal quarter that
materially affected, or are reasonably likely to materially affect, the
Company's internal controls over financial reporting. There were no
significant deficiencies or material weaknesses, and therefore there were no
corrective actions taken.

Our Accounting Department is comprised of four persons.  Due to such a limited
number of persons, a complete segregation of all of the duties as to which the
department is responsible is not possible.  In order to make sure that the
inability to segregate all duties does not affect our timely and accurate
financial reporting, we need to remain vigilant in maintaining compensating
controls.  These compensating controls will continue to be monitored in order
to assure us that our internal controls over financial reporting remain at a
high level despite the limited number of accounting department personnel.

                                     -15-
<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
     (31) Additional exhibits--Certifications Pursuant to Section
          302 of the Sarbanes-Oxley Act of 2002.
          (31.1) Chief Executive Officer                          18
          (31.2) Chief Financial Officer                          19

     (32) Certification Pursuant to Section 906 of the Sarbanes-
          Oxley Act of 2002,
          18 U.S.C. Section. 1350.                                20

     (b)  Reports on Form 8-K - A report on Form 8-K was filed by the
          registrant during the six months ended January 31, 2006.
          Item reported - The Company reported its financial results
          for the three months ended October 31, 2005.
          Date of report filed - December 8, 2005.

                                     -16-
<PAGE>
                                  SIGNATURES



     Pursuant to the requirements of the Securities Exchange Act of 1934, the

registrant has duly caused this report to be signed on its behalf by the

undersigned thereunto duly authorized.




                                                 J.W. MAYS, Inc.
                                               -----------------------
                                                 (Registrant)



Date:    March 9, 2006                         Lloyd J. Shulman
                                               -----------------------
                                               Lloyd J. Shulman
                                               President
                                               Chief Executive Officer



Date:    March 9, 2006                         Mark S. Greenblatt
                                               -----------------------
                                               Mark S. Greenblatt
                                               Vice President
                                               Chief Financial Officer

                                     -17-
<PAGE>
                                                                  EXHIBIT 31.1
                                 CERTIFICATION
I, Lloyd J. Shulman, certify that:

1. I have reviewed this Quarterly Report on Form 10-Q of J.W. Mays, Inc.;

2. Based on my knowledge, this report does not contain any untrue statement of
a material fact or omit to state a material fact necessary to make the
statements made, in light of the circumstances under which such statements
were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial
information included in this report, fairly present in all material respects
the financial condition, results of operations and cash flows of the
registrant as of, and for, the periods presented in this report;

4. The registrant's other certifying officer(s) and I are responsible for
establishing and maintaining disclosure controls and procedures (as defined in
Exchange Act Rules 13a-15(e) and 15d-15(e)) for the registrant and have:

(a)    Designed such disclosure controls and procedures, or caused such
  disclosure controls and procedures to be designed under our supervision, to
  ensure that material information relating to the registrant, including its
  consolidated subsidiaries, is made known to us by others within those
  entities, particularly during the period in which this report is being
  prepared;

(b) Evaluated the effectiveness of the registrant's disclosure controls and
  procedures and presented in this report our conclusions about the
  effectiveness of the disclosure controls and procedures, as of the end of
  the period covered by this report based on such evaluation; and

(c) Disclosed in this report any change in the registrant's internal control
  over financial reporting that occurred during the registrant's most recent
  fiscal quarter (the registrant's fourth fiscal quarter in the case of an
  annual report) that has materially affected, or is reasonably likely to
  materially affect, the registrant's internal control over financial
  reporting; and

5. The registrant's other certifying officer(s) and I have disclosed, based on
our most recent evaluation of internal control over financial reporting, to
the registrant's auditors and the audit committee of the registrant's board of
directors (or persons performing the equivalent functions):

(a) All significant deficiencies and material weaknesses in the design or
  operation of internal control over financial reporting which are reasonably
  likely to adversely affect the registrant's ability to record, process,
  summarize and report financial information; and

(b) Any fraud, whether or not material, that involves management or other
  employees who have a significant role in the registrant's internal control
  over financial reporting.

Date:   March 9, 2006

                                             /s/ Lloyd J. Shulman
                                             ---------------------------
                                             Lloyd J. Shulman
                                             President
                                             Chief Executive Officer


                                     -18-
<PAGE>
                                                            EXHIBIT 31.2
                                 CERTIFICATION
I, Mark S. Greenblatt, certify that:

1. I have reviewed this Quarterly Report on Form 10-Q of J.W. Mays, Inc.;

2. Based on my knowledge, this report does not contain any untrue statement of
a material fact or omit to state a material fact necessary to make the
statements made, in light of the circumstances under which such statements
were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial
information included in this report, fairly present in all material respects
the financial condition, results of operations and cash flows of the
registrant as of, and for, the periods presented in this report;

4. The registrant's other certifying officer(s) and I are responsible for
establishing and maintaining disclosure controls and procedures (as defined in
Exchange Act Rules 13a-15(e) and 15d-15(e)) for the registrant and have:

(a)    Designed such disclosure controls and procedures, or caused such
  disclosure controls and procedures to be designed under our supervision, to
  ensure that material information relating to the registrant, including its
  consolidated subsidiaries, is made known to us by others within those
  entities, particularly during the period in which this report is being
  prepared;

(b) Evaluated the effectiveness of the registrant's disclosure controls and
  procedures and presented in this report our conclusions about the
  effectiveness of the disclosure controls and procedures, as of the end of
  the period covered by this report based on such evaluation; and

(c) Disclosed in this report any change in the registrant's internal control
  over financial reporting that occurred during the registrant's most recent
  fiscal quarter (the registrant's fourth fiscal quarter in the case of an
  annual report) that has materially affected, or is reasonably likely to
  materially affect, the registrant's internal control over financial
  reporting; and

5. The registrant's other certifying officer(s) and I have disclosed, based on
our most recent evaluation of internal control over financial reporting, to
the registrant's auditors and the audit committee of the registrant's board of
directors (or persons performing the equivalent functions):

(a) All significant deficiencies and material weaknesses in the design or
  operation of internal control over financial reporting which are reasonably
  likely to adversely affect the registrant's ability to record, process,
  summarize and report financial information; and

(b) Any fraud, whether or not material, that involves management or other
  employees who have a significant role in the registrant's internal control
  over financial reporting.

Date:   March 9, 2006

                                             /s/ Mark S. Greenblatt
                                             ---------------------------
                                             Mark S. Greenblatt
                                             Vice President
                                             Chief Financial Officer

                                     -19-
<PAGE>

                                                                    EXHIBIT 32
                           CERTIFICATION PURSUANT TO
                            18 U.S.C. SECTION 1350,
                            AS ADOPTED PURSUANT TO
                 SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

The following certification is being furnished solely to accompany the Report
pursuant to 18 U.S.C. Section 1350 and in accordance with SEC Release No. 33-
8238. This certification shall not be deemed "filed" for purposes of Section
18 of the Securities Exchange Act of 1934, as amended, nor shall it be
incorporated by reference in any filing of the Company under the Securities
Act of 1933, as amended, whether made before or after the date hereof,
regardless of any general incorporation language in such filing.

In connection with the Quarterly Report of J. W. Mays, Inc. (the "Company") on
Form 10-Q for the period ending January 31, 2006 as filed with the Securities
and Exchange Commission (the "Report"), we, Lloyd J. Shulman and Mark S.
Greenblatt, Chief Executive Officer and Chief Financial Officer, respectively,
of the Company, certify, pursuant to 18 U.S.C. Section 1350, as adopted
pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that to our
knowledge:

(1) The Report fully complies with the requirements of Section 13(a) or 15(d)
  of the Securities Exchange Act of 1934; and

(2) The information contained in the Report fairly presents, in all material
  respects, the financial condition and results of operations of the Company.


Date:  March 9, 2006

                                             /s/ Lloyd J. Shulman
                                             ---------------------------
                                             Lloyd J. Shulman
                                             Chief Executive Officer


                                             /s/ Mark S. Greenblatt
                                             ---------------------------
                                             Mark S. Greenblatt
                                             Chief Financial Officer


A signed original of this written statement required by Section 906 has been
provided to J.W. Mays, Inc. and will be retained by J. W. Mays, Inc. and
furnished to the Securities and Exchange Commission or its staff upon request.

                                     -20-