SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                                   FORM 10-QSB

(X)            QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
                        SECURITIES EXCHANGE ACT OF 1934
                  For the quarterly period ended June 30, 2001

                                       OR

( )            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:  0-21609
                                 -------

                          CHASE PACKAGING CORPORATION
-----------------------------------------------------------------------
     (Exact  name  of  registrant  as  specified  in  its  charter)

       Texas                                     93-1216127
----------------------                    ----------------------------
(State  or  other  jurisdiction  of      (I.R.S. Employer Identification  No.)
incorporation  or  organization)

          c/o Ann W. Green, 26 Broadway, 8th Floor, New York, NY 10004
          ------------------------------------------------------------
              (Address of principal executive offices)   (Zip Code)

                                 (212) 510-0686
        ----------------------------------------------------------------
                (Issuer's telephone number, including area code)


Check  whether  the Issuer (1) 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   NO   X
                ---

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


        Class                                  Outstanding  at  June,  2001
-----------------------                        -------------------------------
Common  Stock,  par  value  $.10  per  share   7,002,964  shares

<PAGE>
                                    - INDEX -

<TABLE>
<CAPTION>
                                                                                        PAGE(S)
                                                                                        -------
<S>                                                                                       <C>
PART  I.     Financial  Information:

ITEM  1.     Financial  Statements

             Condensed  Balance  Sheets  -  June  30,  2001  (Unaudited)
             and  December  31,  2000                                                      3.

             Condensed  Statements  of  Operations  (Unaudited)  -  Cumulative  Period
             During  the  Development  Stage  (January  1,  1999  to  June  30,  2001)
             and  the  Three  and  Six  Months  Ended  June  30,  2001  and  2000          4.

             Condensed  Statements  of  Cash  Flows  (Unaudited)  -  Cumulative  Period
             During  the  Development  Stage  (January  1,  1999  to  June  30,  2001)
             and  the  Six  Months  Ended  June  30,  2001  and  2000                             5.

             Notes  to  Interim  Condensed  Financial  Statements  (Unaudited)             6.


ITEM  2.     Management's  Discussion  and  Analysis or Plan of Operation                  7.


PART  II.    Other  Information                                                            8.


SIGNATURES                                                                                 9.
</TABLE>
<PAGE>

PART  I.     FINANCIAL  INFORMATION:

ITEM  I.     FINANCIAL  STATEMENTS:

                           CHASE PACKAGING CORPORATION
                           ---------------------------
                          (A DEVELOPMENT STAGE COMPANY)
                          -----------------------------
                            CONDENSED BALANCE SHEETS
                            ------------------------
<TABLE>
<CAPTION>


                                   - ASSETS -

                                                            JUNE        December
                                                          30, 2001      31, 2000
                                                         -----------    ------------
                                                          (UNAUDITED)
<S>                                                           <C>           <C>
CURRENT ASSETS:
     Cash and cash equivalents                          $     3,334   $     7,168
                                                        ------------  ------------

TOTAL ASSETS                                            $     3,334   $     7,168
                                                        ============  ============

                    - LIABILITIES AND SHAREHOLDERS' DEFICIT -

CURRENT LIABILITIES:
      Accrued expenses                                  $    25,187   $    25,187
                                                        ------------  ------------

TOTAL CURRENT LIABILITIES                                    25,187        25,187
                                                        ------------  ------------
COMMITMENTS AND CONTINGENCIES

SHAREHOLDERS' DEFICIT:
   Preferred stock $1.00 par value; 4,000,000
    shares authorized, none issued                                -             -
   Common stock, $.10 par value 25,000,000 authorized
    7,002,964 issued in 2001 and 2000                       700,296       700,296
   Additional paid-in capital                             2,914,207     2,914,207
   Accumulated deficit                                   (3,626,121)   (3,626,121)
   Deficit accumulated during the development stage         (10,235)       (6,401)
                                                        ------------  ------------
                                                            (21,853)      (18,019)
                                                        ------------  ------------

                                                            $  3,334  $     7,168
                                                        ============  ============
</TABLE>
<PAGE>
                           CHASE PACKAGING CORPORATION
                           ---------------------------
                          (A DEVELOPMENT STAGE COMPANY)
                          -----------------------------
                            STATEMENTS OF OPERATIONS
                            ------------------------
                                   (UNAUDITED)
<TABLE>
<CAPTION>

                                      CUMULATIVE
                                      DURING THE
                                      DEVELOPMENT
                                         STAGE             THREE MONTHS ENDED         Six Months Ended
                                      (JANUARY 1, 1999          JUNE 30,                  June 30,
                                      TO JUNE 30, 2001)       2001       2000          2001       2000
                                      -----------------    ---------   --------    ---------      -------
<S>                                  <C>                                        <C>                   <C>

NET SALES                            $  -                  $  -         $   -      $    -           $  -
                                     --------              ---------    ---------  ---------      ---------
COSTS AND EXPENSES:

General and administrative expense    11,120                  3,974        -            3,974          251
Interest and other income               (885)                   (64)      (133)          (140)        (279)
                                     ----------            ---------  ----------   ------------   ---------
TOTAL COSTS AND EXPENSES              10,235                  3,910       (133)         3,834          (28)
                                     ----------            ---------  ----------    -----------   -----------

INCOME (LOSS) BEFORE INCOME
 TAXES                               (10,235)                (3,910)       133         (3,834)          28

   Income tax expense                   -                     -            -              -            -
                                     ----------            ---------   -----------  -----------    -----------

NET INCOME (LOSS)                    $(10,235)             $ (3,910)  $    133      $  (3,834)    $   28
                                     ==========           ==========  ==========    ===========   ============

WEIGHTED AVERAGE COMMON
  SHARES OUTSTANDING                 7,002,964             7,002,964  7,002,964     7,002,964      7,002,964
                                     ==========           ==========  ==========    ===========    ===========

INCOME (LOSS) PER COMMON
 SHARE                               $   -                $   -        $  -         $     -       $   -

                                     ==========           ==========  ==========    ===========    ===========
</TABLE>

<PAGE>
                           CHASE PACKAGING CORPORATION
                           ---------------------------
                          (A DEVELOPMENT STAGE COMPANY)
                          -----------------------------
                            STATEMENTS OF CASH FLOWS
                            ------------------------
                                   (UNAUDITED)
<TABLE>
<CAPTION>
                                                   CUMULATIVE DURING
                                                    THE DEVELOPMENT
                                                          STAGE                          Six Months Ended
                                                    (JANUARY 1, 1999                         June 30,
                                                                                         ------------------
                                                    TO JUNE 30, 2001                 2001              2000
                                                    ----------------                ------             -------
<S>                                                   <C>                              <C>               <C>
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS

CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss                                             $   (10,235)                  $ (3,834)            $    28

Change in assets and liabilities:
Accounts payable and accrued expenses                      1,908                        -                (5,500)
                                                    -----------------             ---------------       ----------
NET CASH (UTILIZED) BY OPERATING ACTIVITIES               (8,327)                    (3,834)             (5,472)

CASH FLOWS FROM INVESTING ACTIVITIES                         -                          -                   -

CASH FLOWS FROM FINANCING ACTIVITIES                         -                          -                   -
                                                    -----------------             -----------           ----------

NET (DECREASE) IN CASH                                    (8,327)                    (3,834)             (5,472)
CASH AND CASH EQUIVALENTS, AT BEGINNING OF
  PERIOD                                                  11,661                      7,168              13,559
                                                    -----------------             -----------            ------------
CASH AND CASH EQUIVALENTS, AT END OF PERIOD          $     3,334                   $  3,334             $ 8,087
                                                     =================          =============           =============

SUPPLEMENTAL CASH FLOW INFORMATION
Cash paid during the period for:
Interest                                             $    -                        $    -               $     -
</TABLE>

<PAGE>
                           CHASE PACKAGING CORPORATION
                           ---------------------------
                          (A DEVELOPMENT STAGE COMPANY)
                          -----------------------------
                          NOTES TO FINANCIAL STATEMENTS
                          -----------------------------
                                  JUNE 30, 2001
                                  -------------
                                   (UNAUDITED)


NOTE   1   -     BASIS  OF  PRESENTATION:

On  June  25,  1997,  Chase  Packaging  Corporation  ("Chase"  or "the Company")
announced  to  employees  and  creditors  that  Chase  would  begin  an  orderly
liquidation of all Chase's assets beginning at the close of business on June 30,
1997.  On  July  25,  1997,  the Company notified its creditors by mail that the
Company  would  commence with an orderly liquidation of all its remaining assets
outside  of  a formal bankruptcy or receivership proceeding in a manner intended
to  maximize  asset  values. The Company's Board of Directors determined that it
was in the best interest of the Company and all of its creditors to liquidate in
an  orderly  fashion.  The  Company ceased all operating activity as of June 30,
1997  and  liquidation  of  all of its assets was completed by the trustee as of
December  31,  1997.

The  Board  of  Directors  has  been  devoting its efforts to establishing a new
business  and  accordingly,  the Company is being treated as a development state
stage  company,  in  accordance with Statement of Financial Accounting Standards
No.  7,  effective  January  1,  1999.


In  the  opinion  of  management,  the  accompanying unaudited interim condensed
financial  statements  of  the  Company,  contain  all  adjustments  necessary
(consisting  of  normal recurring accruals or adjustments only to present fairly
the  Company's  financial  position  as  of June 30, 2001 and the results of its
operations  and  cash  flows  for  the six month periods ended June 30, 2001 and
2000.


The  accounting  policies followed by the Company are set forth in Note 2 to the
Company's  financial statements included in its Annual Report on Form 10-KSB for
the  year  ended  December  31,  2000 which is incorporated herein by reference.
Specific  reference  is  made  to this report for a description of the Company's
securities  and  the  notes  to  consolidated  financial  statements.


NOTE   2   -     LOSS  PER  COMMON  SHARE:

Loss  per  common  share  for the three and six month periods were calculated by
dividing  net  loss  for  the period by the number of shares outstanding for the
period  ended  June  30,  2001  and  2000.


<PAGE>

ITEM  2.     MANAGEMENT'S  PLAN  OF  OPERATIONS:


Chase  Packaging  Corporation  (the Company) has experienced cash losses for the
past  years  in spite of numerous infusions of working capital and an aggressive
program of inventory and expense reduction.  During 1997, the Board of Directors
determined  that  an orderly liquidation was in the best interest of the Company
and  all  of  its  creditors  and  retained the firm of Edward Hostmann, Inc. to
assist  the  Company  in  such  liquidation.

As  part  of  the liquidation process, effective July 21, 1997, the Company sold
most  of  its  assets  in Idaho Falls, Idaho (excluding real estate) to Lockwood
Packaging  Corporation for $330,000.  The Company also sold the Idaho Falls real
estate  (land  and building).  During July and August of 1997 Chase sold most of
its  inventory  in Portland to other packaging companies.  The Company also sold
its  band label extruder for $125,000 with remaining inventory and machinery and
equipment  sold  at  an  August  14  auction for gross proceeds of approximately
$340,000.  As of December 31, 1997, the Company had completed the liquidation of
all  of  its  assets.

Effective  January 1, 1999, the Board of Directors has been devoting its efforts
to  establishing a new business and accordingly, the Company is being treated as
a  development  stage  company,  in  accordance  with  Statement  of  Financial
Accounting  Standards  No. 7, as of that date.  The Company continues to pay for
minor administrative expenses and is generating interest income on its remaining
cash  balance

The  Company's  cash  balance  as  of  June  30,  2001  was  $3,334.



<PAGE>
                           PART II.  OTHER INFORMATION


Item  1.     Legal  Proceedings

             None

Item  2.     Changes  in  Securities

             None

Item  3.     Defaults  upon  Senior  Securities

             None

Item  4.     Submission  of  Matters  to  a  Vote  of  Security  Holders

             None

Item  5.     Other  Information

             None

Item  6.     Exhibits  and  Reports

             None
<PAGE>
                                Signatures

In accordance with the requirements of the Exchange Act, the registrant caused
this report to be signed on its behalf by the undersigned, thereunto duly
authorized.

                       CHASE PACKAGAING CORPORATION


Dated: May 6, 2002

                          ---------------------------
                          Ann W. Green
                          (Assistance Secretary
                          and Principal Financial and Accounting Officer)