<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0202</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2007-05-23</periodOfReport>

    <notSubjectToSection16>1</notSubjectToSection16>

    <issuer>
        <issuerCik>0000105532</issuerCik>
        <issuerName>WELLCO ENTERPRISES INC</issuerName>
        <issuerTradingSymbol>WLC</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001332152</rptOwnerCik>
            <rptOwnerName>LOVELACE SARAH E</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>482 CEDARBROOK DRIVE</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>DANVILLE</rptOwnerCity>
            <rptOwnerState>VA</rptOwnerState>
            <rptOwnerZipCode>24541</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>1</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <transactionDate>
                <value>2007-05-23</value>
            </transactionDate>
            <deemedExecutionDate>
                <value>2007-05-23</value>
            </deemedExecutionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>D</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>747084</value>
                </transactionShares>
                <transactionPricePerShare>
                    <footnoteId id="F2"/>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>0</value>
                    <footnoteId id="F2"/>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                    <footnoteId id="F1"/>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>Executor of Estate</value>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <transactionDate>
                <value>2007-05-23</value>
            </transactionDate>
            <deemedExecutionDate>
                <value>2007-05-23</value>
            </deemedExecutionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>D</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>12200</value>
                </transactionShares>
                <transactionPricePerShare>
                    <footnoteId id="F2"/>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>0</value>
                    <footnoteId id="F2"/>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <footnotes>
        <footnote id="F1">Ms. Lovelace is the Executrix of the Estate of James T. Emerson, which holds 747,084 shares of the Company's stock.  She also
 owns individually 12,200 shares of the Company's stock.</footnote>
        <footnote id="F2">Pursuant to merger agreement between issurer and a corporation organized by Golden Gate Capital and Integrity Brands, all
 shares converted into right to receive $14.00 in cash as consideration for each share of Common Stock held.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>SARAH E LOVELACE</signatureName>
        <signatureDate>2007-05-23</signatureDate>
    </ownerSignature>
</ownershipDocument>
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X0202
4
2007-05-23
1
0000105532
WELLCO ENTERPRISES INC
WLC
0001332152
LOVELACE SARAH E
482 CEDARBROOK DRIVE
DANVILLE
VA
24541
1
0
1
0
Common Stock
2007-05-23
2007-05-23
4
D
0
747084
D
0
I
Executor of Estate
Common Stock
2007-05-23
2007-05-23
4
D
0
12200
D
0
D
Ms. Lovelace is the Executrix of the Estate of James T. Emerson, which holds 747,084 shares of the Company's stock.  She also
 owns individually 12,200 shares of the Company's stock.
Pursuant to merger agreement between issurer and a corporation organized by Golden Gate Capital and Integrity Brands, all
 shares converted into right to receive $14.00 in cash as consideration for each share of Common Stock held.
SARAH E LOVELACE
2007-05-23