Amended Statement of Beneficial Ownership


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

SCHEDULE 13G

Under the Securities Exchange Act of 1934
(Amendment No. 1)

NAME OF ISSUER                CARRIAGE SERVICES, INC.

TITLE OF CLASS OF SECURITIES       Common

CUSIP NUMBER                  143905107

The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page.

The information required in the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

Page 1 of 11 Pages

13G

CUSIP No. 143905107 Page 2 of 11 Pages



1. Name of reporting person S.S. or I.R.S. identification no. of above person

Marsh & McLennan Companies, Inc.
36-2668272



2. Check the appropriate box if a member of a group*
(a)( ) (b)( )

3. SEC use only



4. Citizenship or place of organization

 

Delaware


5. Sole Voting Power

NONE

Number of shares                   )         6.   Shared Voting
                                   Power
Beneficially   )
Owned by each  )                   NONE

Reporting ) ----------------------------- Person with: ) 7. Sole Dispositive Power

NONE

8. Shared Dispositive Power

NONE



9. Aggregate amount beneficially owned by each reporting person

NONE



10. Check box if the aggregate amount in row (9) includes certain shares*



11. Percent of class represented by amount in row 9

NONE



12. Type of Reporting person*

HC

13G

CUSIP No. 143905107 Page 3 of 11 Pages



1. Name of reporting person S.S. or I.R.S. identification no. of above person

Putnam Investments, Inc.
04-2539558



2. Check the appropriate box if a member of a group*
(a)( ) (b)( )

3. SEC use only



4. Citizenship or place of organization

 

Massachusetts


5. Sole Voting Power

NONE

Number of       shares   )              -------------------------
- ----
Beneficially                       )         6.   Shared Voting
                                   Power
owned by each  )
Reporting           )                   150,900

Person with: ) -----------------------------
7. Sole Dispositive Power

NONE

8. Shared Dispositive Power

780,500



9. Aggregate amount beneficially owned by each reporting person

780,500



10. Check box if the aggregate amount in row (9) includes certain shares*



11. Percent of class represented by amount in row 9

22.9%



12. Type of Reporting person*

HC

13G

CUSIP No. 143905107 Page 4 of 11 Pages



1. Name of reporting person S.S. or I.R.S. identification no. of above person

Putnam Investment Management, Inc. 04-2471937



2. Check the appropriate box if a member of a group*
(a)( ) (b)( )

3. SEC use only



4. Citizenship or place of organization

 

Massachusetts


5. Sole Voting Power

NONE

Number of       shares   )              -------------------------
- ----
Beneficially                       )         6.   Shared Voting
                                   Power
Owned by each  )
Reporting           )                   NONE

Person with: ) -----------------------------
7. Sole Dispositive Power

NONE

8. Shared Dispositive Power

599,200



9. Aggregate amount beneficially owned by each reporting person

599,200



10. Check box if the aggregate amount in row (9) includes certain shares*



11. Percent of class represented by amount in row 9

17.6%



12. Type of Reporting person*

IA

13G

CUSIP No. 143905107 Page 5 of 11 Pages



1. Name of reporting person S.S. or I.R.S. identification no. of above person

The Putnam Advisory Company, Inc. 04-6187127



2. Check the appropriate box if a member of a group*
(a)( ) (b)( )

3. SEC use only



4. Citizenship or place of organization

 

Massachusetts


5. Sole Voting Power

NONE

Number of       shares   )              -------------------------
- ----
Beneficially                       )         6.   Shared Voting
                                   Power
Owned by each  )
Reporting           )                   150,900

Person with: ) -----------------------------
7. Sole Dispositive Power

NONE

8. Shared Dispositive Power

181,300



9. Aggregate amount beneficially owned by each reporting person

181,300



10. Check box if the aggregate amount in row (9) includes certain shares*



11. Percent of class represented by amount in row 9

5.3%



12. Type of Reporting person*

IA

13G

CUSIP No. 143905107 Page 6 of 11 Pages



1. Name of reporting person S.S. or I.R.S. identification no. of above person

Putnam OTC Emerging Growth Fund
04-6483374



2. Check the appropriate box if a member of a group*
(a)( ) (b)( )

3. SEC use only



4. Citizenship or place of organization

 

Massachusetts


5. Sole Voting Power

NONE

Number of       shares   )              -------------------------
- ----
Beneficially                       )         6.   Shared Voting
                                   Power
Owned by each  )
Reporting           )                   NONE

Person with: ) -----------------------------
7. Sole Dispositive Power

NONE

8. Shared Dispositive Power

558,100



9. Aggregate amount beneficially owned by each reporting person

558,100



10. Check box if the aggregate amount in row (9) includes certain shares*



11. Percent of class represented by amount in row 9

16.3%



12. Type of Reporting person*

 

IC

SECURITIES AND EXCHANGE COMMISSION
Washington, D. C. 20549

SCHEDULE 13G

Under the Securities Exchange Act of 1934
(Amendment No. 1)

Item 1(a) Name of Issuer: CARRIAGE SERVICES, INC.

Item 1(b) Address of Issuer's Principal Executive Offices:

1300 POST OAK BLVD. STE. 1500, HOUSTON, TX 77056

Item 2(a)                               Item 2(b)

Name of Person Filing:                            Address or
                                   Principal Office or, if none,
                                   Residence:

Putnam Investments, Inc.           One Post Office Square
     ("PI")                        Boston, Massachusetts 02109
on behalf of itself and:

*Marsh & McLennan Companies, Inc.       1166 Avenue of the
Americas
    ("MMC")                        New York, NY  10036

Putnam Investment Management, Inc.      One Post Office Square
    ("PIM")                        Boston, Massachusetts 02109

The Putnam Advisory Company, Inc.       One Post Office Square
    ("PAC")                        Boston, Massachusetts 02109

**Putnam OTC Emerging Growth Fund       One Post Office Square
    ("Fund")                       Boston, Massachusetts 02109

Item 2(c) Citizenship: PI, PIM and PAC are
corporations organized under Massachusetts law. The citizenship of other persons identified in Item 2(a) is designated as follows:

* Corporation - Delaware law ** Voluntary association known as Massachusetts business trust - Massachusetts law

Item 2(d) Title of Class of Securities: Common

Item 2(e) Cusip Number: 143905107

Page 7 of 11 Pages

Item 3. If this statement is filed pursuant to Rules 13d-1(b),
or 13d-2(b), check whether the person filing is a:

(a)( ) Broker or Dealer registered under Section 15 of the Act

(b)( ) Bank as defined in Section 3(a)(6) of the Act

(c)( ) Insurance Company as defined in Section 3(a)(19) of the Act

(d)( X ) Investment Company registered under Section 8 of the Investment Company Act

(e)( X ) Investment Adviser registered under Section 203 of the Investment Advisers Act of 1940

(f)( ) Employee Benefit Plan, Pension Fund which is subject to the provisions of the Employee Retirement Income Security Act of 1974 or Endowment Fund; see (Section 240.13d-1(b)(1)(ii)(F)

(g)( X ) Parent Holding Company, in accordance with Section 240.13d-1(b)(ii)(G)

(h)( ) Group, in accordance with Section 240.13d-1(b)(1)(ii)(H)

 

Page 8 of 11 Pages


Item 4.
Ownership.
                              M&MC                PIM*           PAC            PI
                              -----                    -----               ---            ----
                         Parent holding           Investment advisers
Parent holding co.
                         company                  & subsidiaries of PI)         to PIM and PAC)


(a)  Amount Beneficially
     Owned:                   none                599,200   +    181,300   =    780,500

(b)  Percent of Class:             none                17.6%               5.3%           22.9%

(c)  Number of shares as
     to which such person has:

(1)  sole power to vote
     or to direct the vote;
     (but see Item 7)              none                none           none           none

(2)  shared power to vote
     or to direct the vote;
     (but see Item 7)              none                150,900        none           150,900

(3)  sole power to dispose
     or to direct the
     disposition of;
     (but see Item 7)              none                none           none           none

(4)  shared power to
     dispose or to direct
     the disposition of;
     (but see Item 7)              none                all            all            all

*As part of the Putnam Family of Funds, and the 599,200 shares held by PIM,
Putnam OTC Emerging Growth Fund, singly held 16.3% or 558,100 shares.


Page 9 of 11 Pages

Item 5. Ownership of Five Percent or Less of a Class.

If this statement is being filed to report the fact that as of the date thereof the reporting person has ceased to be the beneficial owner of more than five percent of the class of securities, check the following ( ).

Item 6. Ownership of More than Ten Percent on Behalf of Another Person:

No persons other than the persons filing this Schedule 13G have an economic interest in the securities reported on which relates to more than five percent of the class of securities. Securities reported on this Schedule 13G as being beneficially owned by M&MC and PI consist of securities beneficially owned by subsidiaries of PI which are registered investment advisers, which in turn include securities beneficially owned by clients of such investment advisers, which clients may include investment companies registered under the Investment Company Act and/or employee benefit plans, pension funds, endowment funds or other institutional clients.

Item 7. Identification and Classification of the Subsidiary
Which Acquired the Security Being Reported on By the Parent Holding Company.

PI, which is a wholly-owned subsidiary of M&MC, wholly owns two registered investment advisers: Both subsidiaries have dispository power over the shares as investment managers, but each of the mutual fund's trustees have voting power over the shares held by each fund, and The Putnam Advisory Company, Inc. has shared voting power over the shares held by the institutional clients. Pursuant to Rule 13d-4, M&MC and PI declare that the filing of this Schedule 13G shall not be deemed an admission by either or both of them that they are, for the purposes of Section
13(d) or 13(g) the beneficial owner of any securities covered by this Section 13G, and further state that neither of them have any power to vote or dispose of, or direct the voting or disposition of, any of the securities covered by this Schedule 13G.

Item 8. Identification and Classification of Members of the
Group:
Not applicable.

Item 9. Notice of Dissolution of Group:

Not applicable.

Item 10. Certification.

Page 10 of 11 Pages

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired in the ordinary course of business, were not acquired for the purpose of and do not have the effect of changing or influencing the control of the issuer of such securities and were not acquired in connection with or as a participant in any transaction having such purposes or effect.

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

PUTNAM INVESTMENTS, INC.


     /s/
BY:  -------------------------------------------
     Signature


Name/Title: Frederick S. Marius
Assistant Vice President and Associate Counsel

Date: November 5, 1996

For this and all future filings, reference is made to Power of Attorney dated November 9, 1992, with respect to duly authorized signatures on behalf of Marsh & McLennan Companies, Inc., Putnam Investments, Inc., Putnam Investment Management, Inc., The Putnam Advisory Company, Inc. and any Putnam Fund wherever applicable.

For this and all future filings, reference is made to an Agreement dated June 28, 1990, with respect to one filing of Schedule 13G on behalf of said entitites, pursuant to Rule 13d-1(f)(1).

Page 11 of 11 Pages