SECURITIES AND EXCHANGE COMMISSION
                            Washington, D.C. 20549


                                 SCHEDULE 13G
                   Under the Securities Exchange Act of 1934
                                Amendment No. 3


                           Ferrellgas Partners, L.P.
- --------------------------------------------------------------------------------
                               (Name of Issuer)



                         Common Units, $1.00 par value
- --------------------------------------------------------------------------------
                        (Title of Class of Securities)



                                   315293100
               ------------------------------------------------
                                (CUSIP Number)



                               Page 1 of 7 Pages

 
- -------------------------
CUSIP NO.
315293100
- -------------------------
- --------------------------------------------------------------------------------
1.  Name of Reporting Person
    S.S. or I.R.S. Identification No. of Above Person

    Goldman, Sachs & Co.
- --------------------------------------------------------------------------------
2.  Check the Appropriate Box if a Member of a Group

                                                   (a) _____
                                                   (b) _____ 
- --------------------------------------------------------------------------------
3.  SEC Use Only

- --------------------------------------------------------------------------------
4.  Citizenship or place of  Organization
 
              New York
- ----------------------------------------------------------------------------

Number of       5.  Sole Voting Power
Shares
Beneficially             0
                -------------------------------
Owned By        6.  Shared Voting Power
Each
Reporting                1,318,720
                -------------------------------
Person With     7.  Sole Dispositive Power

                         0
                -------------------------------
                8.  Shared Dispositive Power

                         1,318,720
                -------------------------------
9.  Aggregate Amount Beneficially Owned by Each Reporting Person

      1,318,720
- --------------------------------------------------------------------------------
10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares

- --------------------------------------------------------------------------------
11. Percent of Class Represented by Amount in Row (9)

      9.0%
- --------------------------------------------------------------------------------
12. Type of Reporting Person

      BD-PN-IA
- --------------------------------------------------------------------------------

                               Page 2 of 7 Pages

 
- -------------------------
CUSIP NO.
315293100
- -------------------------
- --------------------------------------------------------------------------------
1.  Name of Reporting Person
    S.S. or I.R.S. Identification No. of Above Person

    The Goldman Sachs Group, L.P.
- --------------------------------------------------------------------------------
2.  Check the Appropriate Box if a Member of a Group

                                                   (a) _____
                                                   (b) _____ 
- --------------------------------------------------------------------------------
3.  SEC Use Only

- --------------------------------------------------------------------------------
4.  Citizenship or place of Organization
 
       Delaware
- --------------------------------------------------------------------------------

Number of       5.  Sole Voting Power
Shares
Beneficially             0
                -------------------------------
Owned By        6.  Shared Voting Power
Each
Reporting                1,318,720
                -------------------------------
Person With     7.  Sole Dispositive Power

                         0
                -------------------------------
                8.   Shared Dispositive Power

                         1,318,720
                -------------------------------

9.  Aggregate Amount Beneficially Owned by Each Reporting Person

      1,318,720
- --------------------------------------------------------------------------------
10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares

- --------------------------------------------------------------------------------
11. Percent of Class Represented by Amount in Row (9)

      9.0%
- --------------------------------------------------------------------------------
12. Type of Reporting Person

      HC-PN
- --------------------------------------------------------------------------------

                               Page 3 of 7 Pages

 
Item 1(a).    Name of Issuer:
              Ferrellgas Partners, L.P.
          
Item 1(b).    Address of Issuer's Principal Executive Offices:
              One Liberty Plaza
              Liberty, MO  64068
          
Item 2(a).    Name of Persons Filing:
              Goldman, Sachs & Co. and The Goldman Sachs Group, L.P.
          
Item 2(b).    Address of Principal Business Office or, if None, Residence:
              85 Broad Street
              New York, NY   10004
          
Item 2(c).    Citizenship:
              Goldman, Sachs & Co. - New York
              The Goldman Sachs Group, L.P. - Delaware
          
Item 2(d).    Title and Class of Securities:
              Common Stock, $1.00 par value
          
Item 2(e).    CUSIP Number:
              315293100

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).X  Broker or dealer registered under Section 15 of the Act,
                    Goldman, Sachs & Co.

       (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).   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,
                    Goldman, Sachs & Co.

       (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 13d-1(b)(1)(ii)(F),

                               Page 4 of 7 Pages

 
       (g).X  Parent Holding Company, in accordance with Rule 13d-
              1(b)(ii)(G); see Item 7,
                    The Goldman Sachs Group, L.P.
 
       (h).   Group, in accordance with Rule 13d-1(b)(ii)(H).

Item 4.       Ownership.

       (a).   Amount beneficially owned:
              See the responses(s) to Item 9 on the attached cover page(s).

       (b).   Percent of class:
              See the response(s) to Item 11 on the attached cover page(s).

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

              (i).     Sole power to vote or to direct the vote:
                           See the response(s) to Item 5 on the attached cover
                           page(s).

              (ii).   Shared power to vote or direct the vote:
                           See the response(s) to Item 6 on the attached cover
                           page(s).

              (iii).  Sole power to dispose or to direct the disposition of:
                           See the response(s) to Item 7 on the attached cover
                           page(s).

              (iv).   Shared power to dispose or to direct the disposition of:
                           See the response(s) to Item 8 on the attached cover
                           page(s).

Item 5.       Ownership of Five Percent or Less of a Class.
                      Not Applicable

Item 6.       Ownership of More than Five Percent on Behalf of Another Person.
                      Not Applicable

Item 7.       Identification and Classification of the Subsidiary Which
              Acquired the Security Being Reported on by the Parent Holding
              Company.
                      See Exhibit (2) as previously reported.

Item 8.       Identification and Classification of Members of the Group.
                      Not Applicable

Item 9.       Notice of Dissolution of Group.
                      Not Applicable


                               Page 5 of 7 Pages

 
Item 10.  Certification.

          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 and 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 purpose or effect.

 

                               Page 6 of 7 Pages

 
                                 SIGNATURE

          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.


Date:  February 14, 1997

    
                                             THE GOLDMAN SACHS GROUP, L.P.
                                             By: The Goldman Sachs Corporation, 
                                                 its general partner


                                             By: /s/ William J. Buckley
                                                --------------------------------
                                             Name: William J. Buckley
                                             Title:  Executive Vice President



                                             GOLDMAN, SACHS & CO.
   

                                             By: /s/ William J. Buckley
                                                --------------------------------
                                             Name: William J. Buckley
                                             Title:  Managing Director



                               Page 7 of 7 Pages