FORM 4
                              STATEMENT OF
                     CHANGES IN BENEFICIAL OWNERSHIP

  Check this box if no longer subject to Section 16. Form 4 or Form 5
 obligations may continue. SEE Instruction 1(b).

 1.  Name and Address of Reporting Person
     (Last)    Craker
     (First)   Sherri
     (Middle)  L.
     (Street)  800 Oak Ridge Road
     (City)    Mosinee
     (State)   Wisconsin
     (Zip)     54455

 2.  Issuer Name and Ticker or Trading Symbol
     (Issuer Name)       Wausau-Mosinee Paper Corporation
     (Ticker or Trading Symbol) WMO

 3.  I.R.S. or Social Security Number of Reporting Person (Voluntary)
     (I.D. Number) 395-72-7928

 4.  Statement for Month/Day/Year
     (Month/Day) December
     (Year)    2002

 5.  If Amendment, Date of Original (Month/Day/Year)
     (Month/Day)
     (Year)

 6.  Relationship of Reporting Person(s) to Issuer (Check all applicable)
     X
          (Director)
     X    (Officer, give title below)
           Corporate Controller
          (10% Owner)
          (Other, specify below)


 7.  Individual or Joint/Group Filing (Check Applicable Line)
     X
     X    Form filed by One Reporting Person
          Form filed by More than One Reporting Person




  TABLE I - NON-DERIVATIVE SECURITIES ACQUIRED, DISPOSED OF, OR BENEFICIALLY
            OWNED

                                                                       5. Amount of
                                                     4. Securities        Securities
                          2A. Deemed                    Acquired (A)      Beneficially
             2. Trans-    Execution     3.Trans-        or Disposed       Owned         6. Ownership 7. Nature of
             action       Date, if any    action        of (D)            Following        Form:        Indirect
 1.Title of  Date(Month/  (Month/Day/     Code          (A) or            Reported         Direct(D) or Beneficial
 Security    Day/Year)     Year)       Code    V    Amount  (D)   Price   Transactions(s)  Indirect(I)  Ownership
                                                                          
 No Par                                                                   355.8273         I            *
 Value
 Common
 Stock



  TABLE II - DERIVATIVE SECURITIES ACQUIRED, DISPOSED OF, OR BENEFICIALLY OWNED
               (E.G., puts, calls, warrants, options, convertible securities)
                                                                5. Number of
                                                                Derivative
             2. Conversion              3A. Deemed              Securities
 1. Title    or Exercise                Execution    4.Trans-   Acquired (A)    6. Date Exercisable and
     of      Price of   3. Transaction  Date, if any   action   or Disposed of  Expiration Date
 Derivative  Derivative    Date (Month/ (Month/Day/    Code          (D)        (Month/Day/Year)
 SECURITY    SECURITY      DAY/YEAR)    YEAR)       CODE    V    (A)       (D)   DATE EXERCISABLE EXPIRATION DATE
                                                                       
 Common       12.57                                                               6/16/00         12/16/19
 Stock
 Option       10.71#                                                              #               12/13/21#
 (Right       11.39*       12/12/02                 A      V     9,000**          **              12/12/22**
 to Buy)




  TABLE II CONTINUED - Derivative Securities Acquired, Disposed of or
                       Beneficially Owned
              (E.G., puts, calls, warrants, options, convertible securities)

 7. Title and Amount of Underlying Securities                           10. Ownership
                                             9. Number of Derivative    Form of Derivative
                     Amount or   8. Price of Securities Beneficially       Securities
                     Number of    Derivative   Owned Following         Beneficially Owned 11. Nature of Indirect
 TITLE                  SHARES      SECURITY  REPORTED TRANSACTION(S)  AT END OF MONTH    BENEFICIAL OWNERSHIP
                                                                        
 No Par                                        5,000                    D
 Value

 No Par                                        9,000#                   D#
 Value               9,000**                   9,000**                  D**

 Explanation of Responses:

 *All shares held under Common Stock Purchase Plan.
 #Number of shares to which option is exercisable is subject to
  satisfaction of certain performance criteria.  Options are
  exercisable on date on which audited financial statements
  for the fiscal year ending 12/31/02 are reported by the Company.
 **Number of shares to which option is exercisable is subject to
 satisfaction of certain performance criteria.  Options are
 exercisable on date on which audited financial results for the
 fiscal year ending 12/31/03 are reported by the Company.
                    /S/ SHERRI L. CRAKER                    01/03/03
                       Signature of Reporting Person         Date