<ARTICLE> 5
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
CONSOLIDATED STATEMENT OF INCOME FOR THE  THREE MONTHS ENDED MARCH 31, 1995 AND
THE CONSOLIDATED BALANCE SHEET AS OF MARCH 31, 1995 AND IS QUALIFIED IN ITS
ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<MULTIPLIER> 1,000
       
                             
<PERIOD-TYPE>                   3-MOS
<FISCAL-YEAR-END>                          DEC-31-1995
<PERIOD-END>                               MAR-31-1995
<CASH>                                         167,022
<SECURITIES>                                         0
<RECEIVABLES>                                  630,831
<ALLOWANCES>                                    18,573
<INVENTORY>                                    424,824
<CURRENT-ASSETS>                             1,288,153
<PP&E>                                      10,447,299<F1>
<DEPRECIATION>                               3,060,855
<TOTAL-ASSETS>                               8,996,659
<CURRENT-LIABILITIES>                          937,935
<BONDS>                                      2,837,423
<COMMON>                                        48,481
<PREFERRED-MANDATORY>                          300,000
<PREFERRED>                                          0
<OTHER-SE>                                   3,038,096
<TOTAL-LIABILITY-AND-EQUITY>                 8,996,659
<SALES>                                      1,634,024
<TOTAL-REVENUES>                             1,634,024
<CGS>                                        1,276,961
<TOTAL-COSTS>                                1,276,961
<OTHER-EXPENSES>                                     0
<LOSS-PROVISION>                                     0
<INTEREST-EXPENSE>                              59,717
<INCOME-PRETAX>                                220,463
<INCOME-TAX>                                    89,238
<INCOME-CONTINUING>                            131,225
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                   131,225
<EPS-PRIMARY>                                     1.33
<EPS-DILUTED>                                     1.26
<FN>
<F1>Includes timber and timberlands.
</FN>