content: SECURITIES AND EXCHANGE COMMISSION
                       Washington, D.C.  20549
  
                              FORM 10-Q
  
           Quarterly Report Pursuant to Section 13 or 15(d)
                of the Securities Exchange Act of 1934
  
  For the quarter ended July 31, 1995 Commission File No. 0-5653
  
  
                       BALA CYNWYD CORPORATION
  _________________________________________________________________
        (Exact name of registrant as specified in its charter)
  
  
               New Jersey                         22-1436237
  _____________________________________   _________________________
    (State or other jurisdiction of            (I.R.S. Employer
    incorporation or organization)             Identification No.)
  
  
    301 City Avenue
    Bala Cynwyd, Pennsylvania                     19004             
  _____________________________________   _________________________
     (Address of principal executive           (Zip Code)
      offices)
  
  Registrant's telephone number, 
  including area code: (610) 667-8225
                       ________________
  
  Indicate by check mark whether the registrant (1) has filed all
  reports required to be filed by Section 13 or 15(d) of the
  Securities Exchange Act of 1934 during the preceding 12 months,
  and (2) has been subject to such filing requirements for the past
  90 days.
  
                           Yes  X      No     
                               ____   ____
  
  Indicate the number of shares outstanding of each of the
  Registrant's classes on common stock, as of the latest
  practicable date.
  
                   Common Stock:  1,021,314 shares
  <PAGE>
  <PAGE>
  Part 1.   Financial Information
            _____________________
  
  Item 1.   Financial Statements
  
                       BALA CYNWYD CORPORATION
  
                            BALANCE SHEETS
  
  <TABLE>
  <CAPTION>
  
                                           July 31,       January 31,
                                             1995             1995
                                           ___________     ___________
                                           (Unaudited)         
  <S>                               <C>               <C>
  
                                ASSETS
  
  Cash                                          $35,876      $21,508
  Receivables (Note 2):                                             
    Litigation Settlement, net                                66,010
    Other                                         4,921        4,416
  Due from officer/shareholder (Note 3)         431,545      349,529
  Prepaid and refundable income taxes             1,182        1,182
                                               ________      _______
                                                       
                                               $473,524     $442,645
                                               ========     ========
  
                 LIABILITIES AND SHAREHOLDERS' EQUITY
  
  Liabilities:                                                      
    Due to affiliate (Note 4)                    $3,000       $3,000
    Accrued expenses                             23,508       19,913
                                               ________     ________
  
                                                 26,508       22,913
                                               ________     ________
                                                                    
  Shareholders' equity:                                             
    Preferred stock, cumulative 
    convertible, $.05 par; authorized
    500,000 shares, issued 2,600 shares             130          130
    Common stock, $.05 par; authorized
    2,000,000 shares; issued 1,054,419
    shares                                       52,721       52,721
  Additional paid-in capital                    462,327      462,327
  Deficit                                       (48,596)     (75,880)
                                              _________     ________
  
                                                466,583      439,298
  
  Less treasury stock at cost:                                      
    Preferred (2,600 shares)                     (5,000)      (5,000)
    Common (33,105 shares)                      (14,566)     (14,566)
                                              _________     ________
                                                       
                                                447,016      419,732
                                              _________     ________
  
                                               $473,524     $442,645
                                              =========     ========
  
  </TABLE>
  
                  See notes to financial statements.<PAGE>
  <PAGE>
                       BALA CYNWYD CORPORATION
  
       STATEMENTS OF OPERATIONS AND RETAINED EARNINGS (DEFICIT)
  
               SIX MONTHS ENDED JULY 31, 1995 AND 1994
  
                             (Unaudited)
  <TABLE>
  <CAPTION>
                              Six months             Three months
                            ended July 31,          ended July 31,
                            _________________     ___________________
                              1995       1994        1995       1994
                             _____      _____       _____      _____
  <S>                 <C>        <C>        <C>         <C>
  
  Revenue, interest
    income (Note 3)        $18,473    $15,547     $10,312     $ 7,330
  Other (Note 2)            31,990                 31,990            
                          ________   ________    ________    ________
                            50,463     15,547      42,302       7,330
  General and
    administrative
    expenses (Note 5)       23,179     21,013      10,478      10,667
                          ________   ________    ________    ________
                                                                     
  Income (loss)
    before income
    taxes                   27,284     (5,466)     31,824      (3,337)
                                                                     
  Income taxes
    (Note 6)                     -          -           -           -
                          ________   ________    ________    ________
  
  Net income (loss)         27,284     (5,466)     31,824      (3,337)
                                                                     
  Retained earnings
    (deficit), begin-
    ning of period         (75,880)   (24,981)    (75,880)    (27,110)
                          ________   ________    ________    ________                    
  Retained earnings
    (deficit), end
    of period             $(48,596)  $(30,447)   $(48,596)   $(30,447)
                          ========   ========    ========    ========                    
  Income per
    common share              $.03       $-0-        $.04        $-0-
                          ========   ========    ========    ========                    
  Weighted average
    number of shares
    outstanding          1,021,314  1,021,314   1,021,314   1,021,314
                         =========  =========   =========   =========
  
  </TABLE>
  
                  See notes to financial statements.
  <PAGE>
  <PAGE>
                       BALA CYNWYD CORPORATION
  
                       STATEMENTS OF CASH FLOWS
  
               SIX MONTHS ENDED JULY 31, 1995 AND 1994
                             (Unaudited)
  
                     Increase (decrease) in cash
  
  <TABLE>
  <CAPTION>
  
                                                  1995        1994
                                                 _________  ________
  
  <S>                                      <C>          <C>
  
  Cash flows from operating activities:                             
    Net income (loss)                             $27,284    $(5,466)
    Adjustments to reconcile net
    loss to net cash used in
    operating activities:                                           
    (Increase) decrease in                                          
      rceivables                                     (505)   (27,152)
    Increase (decrease) in                                          
      accrued expenses                              3,594    (24,599)
                                                 ________   ________
                                                                    
  Net cash provided by (used in) 
    operating activities                           30,373    (57,217)
                                                 ________   ________          
  Cash flows from investing
  activities:                                                       
    Payments received on notes
      receivable                                   66,010     90,000
    Advances to/from officer/
      shareholder, net                            (82,016)    (2,071)
                                                 ________   ________
  
  Net cash provided by (used in) 
  investing activities                            (16,006)    87,929
                                                 ________   ________          
  Net increase in cash and cash 
  equivalents                                      14,368     30,712
                                                                    
  Cash and cash equivalents, 
  beginning of period                              21,508     46,040
                                                 ________   ________          
  Cash and cash equivalents, 
  end of period                                   $35,876    $76,752
                                                 ========   ========
  
  Supplemental disclosure of cash 
  flow information, cash paid for 
  income taxes                                       $-0-       $250
                                                 ========   ========
  
  </TABLE>                                                          
                  See notes to financial statements.<PAGE>
  <PAGE>
                       BALA CYNWYD CORPORATION
                    NOTES TO FINANCIAL STATEMENTS
               SIX MONTHS ENDED JULY 31, 1995 AND 1994
                             (Unaudited)
  
  
  
  1.   Business activity and summary of significant accounting
       policies:
  
       The Company presently conducts no business but is searching
       for appropriate investment and acquisition opportunities. 
       Its only income consists of interest from notes receivable.
  
       Cash Equivalents:
  
       For purposes of the statement of cash flows, the Company
       considers all highly liquid debt instruments purchased with
       maturities of three months or less to be cash equivalents.
  
       Earnings per share:
  
       Earnings per share are computed based on the weighted
       average number of common shares outstanding during each year
       (1,021,314 shares in 1995 and 1994).
  
       Presentation of financial statements:
  
       Except for the balance sheet as of January 31, 1995, the
       financial information furnished herein has not been audited
       by independent accountants; it reflects, however, all
       adjustments (consisting principally of normal, recurring
       accruals) which, in the opinion of management, are necessary
       for a fair presentation of financial position and results of
       operations and cash flows for the dates and periods noted.
  
  
  2.   Notes receivable:
  
       On October 30, 1991, the Company agreed to extend credit
       facilities up to an initial principal amount of $350,000 to
       Antiquities of Nevada, Inc. ("Antiquities"), and on Janu-
       ary 29, 1992 entered into an amendment increasing the
       maximum credit availability by $150,000 through June 15,
       1992.  On May 15, 1992 the loan agreement was amended,
       whereby the principal amount of $431,724 due as of that date
       was to be repaid in installments from June to August, 1992,
       with the balance of principal, accrued interest and related
       costs due on September 1, 1992.  The notes bear interest at
       10% per annum and are collateralized by all of the assets of
       Antiquities, along with the guarantees of the shareholders.
  
       On September 1, 1992, Antiquities defaulted on its obliga-
       tions under the loan agreements, and filed for protection
       under Chapter 11 of the Federal Bankruptcy Code on Septem-
       ber 14, 1992.  Under court order, Antiquities was required
       to pay the Company $10,000 per month towards this obligation
       plus interest of $3,000 per month, pending the filing and
       confirmation of a plan of reorganization.  On February 24,
       1993 the plan of reorganization was confirmed by the Court. 
       The plan requires monthly payments of principal of $10,000
       to July, 1993, $15,000 to June, 1994 and $20,000 to
       November, 1994, plus interest payable monthly at 10% per
       annum.  Through July 1993, the principal payments were
       received.  Subsequent to that point in time, monthly
       principal payments in amounts less than the required amounts
       were received.
  
       As of July 31, 1995, the Company has incurred legal and
       other costs in excess of $192,000 in connection with
       exercising its rights under the notes, which pursuant to the
       loan agreements is reimbursable to the Company by
       Antiquities, of which approximately $90,000 was collected. 
       The Bankruptcy Court has ordered Antiquities to pay during
       the 23rd through 26th months of the confirmed plan, $86,500
       of the Company's legal fees and expenses incurred during the
       Antiquities bankruptcy proceeding.  The Company has provided
       an allowance in the amount of $88,000 for any potentially
       uncollectible reimbursements.  Antiquities has completed
       payments in accordance with the loan agreements $31,990 in
       excess of the Company's allowance.
  
  
  3.   Due from officer/shareholder:
  
       There are no formal repayment terms and the advance bears
       interest at the prime rate (8% at July 31, 1995).  Interest
       income relating to this advance was $15,666 and $7,672 for
       the six months ended July 31, 1995 and 1994, respectively.
  
  
  4.   Due to affiliate:
  
       There are no formal repayment terms and the advance bears
       interest at the prime rate.  Interest expense relating to
       this advance was $130 and $110 for the six months ended July
       31, 1995 and 1994, respectively.
  
  
  5.   Management fees:
  
       The Company has agreed to compensate its president and
       principal shareholder for his services in maintaining the
       corporate books and records and in investigating possible
       merger and acquisition candidates for the Company, and to
       reimburse him for expenses incurred.  Management fees of
       $15,000 and $15,000 are included in general and administra-
       tive expenses for the six months ended July 31, 1995 and
       1994, respectively.
  
  
  6.   Income taxes:
  
       The Company is classified as a personal holding company for
       each of the periods presented.  The Company is subject to a
       Federal tax equal to 28% of its undistributed earnings, in
       addition to any other income taxes payable.
  
  
  Item 2.   Management's Discussion and Analysis of
            Financial Condition and Results of Operations
            _____________________________________________
  
  
            The following discussion addresses the financial
  condition and results of operations of the Company for the second
  quarter and six months ended July 31, 1995 compared with the same
  periods in the prior year.  This discussion should be read in
  conjunction with the Management's Discussion and Analysis Section
  included in the Company's Annual Report on Form 10-K for the
  fiscal year ended January 31, 1995, to which the reader is
  directed for additional information.
  
            The Company has recorded an increase in income of
  $34,972 and $50,547 for the three and six month periods ended
  July 31, 1995, respectively, as compared to the same periods in
  the prior year due to an increase in interest income.  General
  and administrative expenses decreased by $189 for the second
  quarter and increased by $2,166 for the first six months of this
  year as compared to the same periods in the prior year due
  primarily to increased costs associated with the Company's
  restructuring and enforcement actions against an unrelated debtor
  and its affiliates (see Note 2 to Financial Statements).  The
  increase in interest income resulted in net income of $31,824 and
  $27,284 for this year's second quarter and six months,
  respectively, compared with net losses of $3,337 and $5,466 for
  the same periods in the prior year.
  
            The Company's only current business activity consists
  of a loan to an unrelated party, Antiquities of Nevada, Inc.  The
  Company is pursuing its rights against a shareholder guarantor
  for reimburseable legal fees and expenses.  See Note 2 to
  Financial Statements.  The Company's only income consists of
  interest income.
  
  
                      PART 2.  OTHER INFORMATION
                     ___________________________
  
  Item 6.        EXHIBITS AND REPORTS ON FORM 8-K
                 ________________________________
  
                 (a)  Exhibits:  None
  
                 (b)  Reports on Form 8-K:  None
  
  
                              SIGNATURES
                              __________
  
  
            Pursuant to the requirements of the Securities Exchange
  Act of 1934, the Registrant has duly caused this report to be
  signed on its behalf by the undersigned thereunto duly
  authorized.
  
  
                                     BALA CYNWYD CORPORATION
  
  
  
  
  Dated:  September 12, 1995         By:/s/ Albert M. Zlotnick
                                        ___________________________
                                          Albert M. Zlotnick
                                          President
                                          Chairman of the Board
                                          Chief Financial Officer
                                          and Chief Executive
                                          Officer
metadata_documents: [{"type": "10-Q", "sequence": "1", "secsgml_size_bytes": 17710}]
metadata_filer: {"company-data": {"conformed-name": "BALA CYNWYD CORP", "cik": "0000052813", "assigned-sic": "9995", "irs-number": "221436237", "state-of-incorporation": "NJ", "fiscal-year-end": "0131"}, "filing-values": {"form-type": "10-Q", "act": "34", "file-number": "000-05653", "film-number": "95574212"}, "business-address": {"street1": "301 CITY LINE AVE", "city": "BALA CYNWYD", "state": "PA", "zip": "19004", "phone": "6106678225"}, "former-company": [{"former-conformed-name": "ITI ELECTRONICS INC", "date-changed": "19830505"}, {"former-conformed-name": "INDUSTRIAL TELEVISION INC", "date-changed": "19710613"}]}
text: SECURITIES AND EXCHANGE COMMISSION
                       Washington, D.C.  20549
  
                              FORM 10-Q
  
           Quarterly Report Pursuant to Section 13 or 15(d)
                of the Securities Exchange Act of 1934
  
  For the quarter ended July 31, 1995 Commission File No. 0-5653
  
                       BALA CYNWYD CORPORATION
  _________________________________________________________________
        (Exact name of registrant as specified in its charter)
  
               New Jersey                         22-1436237
  _____________________________________   _________________________
    (State or other jurisdiction of            (I.R.S. Employer
    incorporation or organization)             Identification No.)
  
    301 City Avenue
    Bala Cynwyd, Pennsylvania                     19004             
  _____________________________________   _________________________
     (Address of principal executive           (Zip Code)
      offices)
  
  Registrant's telephone number, 
  including area code: (610) 667-8225
                       ________________
  
  Indicate by check mark whether the registrant (1) has filed all
  reports required to be filed by Section 13 or 15(d) of the
  Securities Exchange Act of 1934 during the preceding 12 months,
  and (2) has been subject to such filing requirements for the past
  90 days.
  
                           Yes  X      No     
                               ____   ____
  
  Indicate the number of shares outstanding of each of the
  Registrant's classes on common stock, as of the latest
  practicable date.
  
                   Common Stock:  1,021,314 shares
  Part 1.   Financial Information
            _____________________
  
  Item 1.   Financial Statements
  
                       BALA CYNWYD CORPORATION
  
                            BALANCE SHEETS
  July 31,       January 31,
                                             1995             1995
                                           ___________     ___________
                                           (Unaudited)
  ASSETS
  
  Cash                                          $35,876      $21,508
  Receivables (Note 2):                                             
    Litigation Settlement, net                                66,010
    Other                                         4,921        4,416
  Due from officer/shareholder (Note 3)         431,545      349,529
  Prepaid and refundable income taxes             1,182        1,182
                                               ________      _______
                                                       
                                               $473,524     $442,645
                                               ========     ========
  
                 LIABILITIES AND SHAREHOLDERS' EQUITY
  
  Liabilities:                                                      
    Due to affiliate (Note 4)                    $3,000       $3,000
    Accrued expenses                             23,508       19,913
                                               ________     ________
  
                                                 26,508       22,913
                                               ________     ________
                                                                    
  Shareholders' equity:                                             
    Preferred stock, cumulative 
    convertible, $.05 par; authorized
    500,000 shares, issued 2,600 shares             130          130
    Common stock, $.05 par; authorized
    2,000,000 shares; issued 1,054,419
    shares                                       52,721       52,721
  Additional paid-in capital                    462,327      462,327
  Deficit                                       (48,596)     (75,880)
                                              _________     ________
  
                                                466,583      439,298
  
  Less treasury stock at cost:                                      
    Preferred (2,600 shares)                     (5,000)      (5,000)
    Common (33,105 shares)                      (14,566)     (14,566)
                                              _________     ________
                                                       
                                                447,016      419,732
                                              _________     ________
  
                                               $473,524     $442,645
                                              =========     ========
  See notes to financial statements.
  BALA CYNWYD CORPORATION
  
       STATEMENTS OF OPERATIONS AND RETAINED EARNINGS (DEFICIT)
  
               SIX MONTHS ENDED JULY 31, 1995 AND 1994
  
                             (Unaudited)
  Six months             Three months
                            ended July 31,          ended July 31,
                            _________________     ___________________
                              1995       1994        1995       1994
                             _____      _____       _____      _____
  Revenue, interest
    income (Note 3)        $18,473    $15,547     $10,312     $ 7,330
  Other (Note 2)            31,990                 31,990            
                          ________   ________    ________    ________
                            50,463     15,547      42,302       7,330
  General and
    administrative
    expenses (Note 5)       23,179     21,013      10,478      10,667
                          ________   ________    ________    ________
                                                                     
  Income (loss)
    before income
    taxes                   27,284     (5,466)     31,824      (3,337)
                                                                     
  Income taxes
    (Note 6)                     -          -           -           -
                          ________   ________    ________    ________
  
  Net income (loss)         27,284     (5,466)     31,824      (3,337)
                                                                     
  Retained earnings
    (deficit), begin-
    ning of period         (75,880)   (24,981)    (75,880)    (27,110)
                          ________   ________    ________    ________                    
  Retained earnings
    (deficit), end
    of period             $(48,596)  $(30,447)   $(48,596)   $(30,447)
                          ========   ========    ========    ========                    
  Income per
    common share              $.03       $-0-        $.04        $-0-
                          ========   ========    ========    ========                    
  Weighted average
    number of shares
    outstanding          1,021,314  1,021,314   1,021,314   1,021,314
                         =========  =========   =========   =========
  See notes to financial statements.
  BALA CYNWYD CORPORATION
  
                       STATEMENTS OF CASH FLOWS
  
               SIX MONTHS ENDED JULY 31, 1995 AND 1994
                             (Unaudited)
  
                     Increase (decrease) in cash
  1995        1994
                                                 _________  ________
  Cash flows from operating activities:                             
    Net income (loss)                             $27,284    $(5,466)
    Adjustments to reconcile net
    loss to net cash used in
    operating activities:                                           
    (Increase) decrease in                                          
      rceivables                                     (505)   (27,152)
    Increase (decrease) in                                          
      accrued expenses                              3,594    (24,599)
                                                 ________   ________
                                                                    
  Net cash provided by (used in) 
    operating activities                           30,373    (57,217)
                                                 ________   ________          
  Cash flows from investing
  activities:                                                       
    Payments received on notes
      receivable                                   66,010     90,000
    Advances to/from officer/
      shareholder, net                            (82,016)    (2,071)
                                                 ________   ________
  
  Net cash provided by (used in) 
  investing activities                            (16,006)    87,929
                                                 ________   ________          
  Net increase in cash and cash 
  equivalents                                      14,368     30,712
                                                                    
  Cash and cash equivalents, 
  beginning of period                              21,508     46,040
                                                 ________   ________          
  Cash and cash equivalents, 
  end of period                                   $35,876    $76,752
                                                 ========   ========
  
  Supplemental disclosure of cash 
  flow information, cash paid for 
  income taxes                                       $-0-       $250
                                                 ========   ========
  See notes to financial statements.
  BALA CYNWYD CORPORATION
                    NOTES TO FINANCIAL STATEMENTS
               SIX MONTHS ENDED JULY 31, 1995 AND 1994
                             (Unaudited)
  
  1.   Business activity and summary of significant accounting
       policies:
  
       The Company presently conducts no business but is searching
       for appropriate investment and acquisition opportunities. 
       Its only income consists of interest from notes receivable.
  
       Cash Equivalents:
  
       For purposes of the statement of cash flows, the Company
       considers all highly liquid debt instruments purchased with
       maturities of three months or less to be cash equivalents.
  
       Earnings per share:
  
       Earnings per share are computed based on the weighted
       average number of common shares outstanding during each year
       (1,021,314 shares in 1995 and 1994).
  
       Presentation of financial statements:
  
       Except for the balance sheet as of January 31, 1995, the
       financial information furnished herein has not been audited
       by independent accountants; it reflects, however, all
       adjustments (consisting principally of normal, recurring
       accruals) which, in the opinion of management, are necessary
       for a fair presentation of financial position and results of
       operations and cash flows for the dates and periods noted.
  
  2.   Notes receivable:
  
       On October 30, 1991, the Company agreed to extend credit
       facilities up to an initial principal amount of $350,000 to
       Antiquities of Nevada, Inc. ("Antiquities"), and on Janu-
       ary 29, 1992 entered into an amendment increasing the
       maximum credit availability by $150,000 through June 15,
       1992.  On May 15, 1992 the loan agreement was amended,
       whereby the principal amount of $431,724 due as of that date
       was to be repaid in installments from June to August, 1992,
       with the balance of principal, accrued interest and related
       costs due on September 1, 1992.  The notes bear interest at
       10% per annum and are collateralized by all of the assets of
       Antiquities, along with the guarantees of the shareholders.
  
       On September 1, 1992, Antiquities defaulted on its obliga-
       tions under the loan agreements, and filed for protection
       under Chapter 11 of the Federal Bankruptcy Code on Septem-
       ber 14, 1992.  Under court order, Antiquities was required
       to pay the Company $10,000 per month towards this obligation
       plus interest of $3,000 per month, pending the filing and
       confirmation of a plan of reorganization.  On February 24,
       1993 the plan of reorganization was confirmed by the Court. 
       The plan requires monthly payments of principal of $10,000
       to July, 1993, $15,000 to June, 1994 and $20,000 to
       November, 1994, plus interest payable monthly at 10% per
       annum.  Through July 1993, the principal payments were
       received.  Subsequent to that point in time, monthly
       principal payments in amounts less than the required amounts
       were received.
  
       As of July 31, 1995, the Company has incurred legal and
       other costs in excess of $192,000 in connection with
       exercising its rights under the notes, which pursuant to the
       loan agreements is reimbursable to the Company by
       Antiquities, of which approximately $90,000 was collected. 
       The Bankruptcy Court has ordered Antiquities to pay during
       the 23rd through 26th months of the confirmed plan, $86,500
       of the Company's legal fees and expenses incurred during the
       Antiquities bankruptcy proceeding.  The Company has provided
       an allowance in the amount of $88,000 for any potentially
       uncollectible reimbursements.  Antiquities has completed
       payments in accordance with the loan agreements $31,990 in
       excess of the Company's allowance.
  
  3.   Due from officer/shareholder:
  
       There are no formal repayment terms and the advance bears
       interest at the prime rate (8% at July 31, 1995).  Interest
       income relating to this advance was $15,666 and $7,672 for
       the six months ended July 31, 1995 and 1994, respectively.
  
  4.   Due to affiliate:
  
       There are no formal repayment terms and the advance bears
       interest at the prime rate.  Interest expense relating to
       this advance was $130 and $110 for the six months ended July
       31, 1995 and 1994, respectively.
  
  5.   Management fees:
  
       The Company has agreed to compensate its president and
       principal shareholder for his services in maintaining the
       corporate books and records and in investigating possible
       merger and acquisition candidates for the Company, and to
       reimburse him for expenses incurred.  Management fees of
       $15,000 and $15,000 are included in general and administra-
       tive expenses for the six months ended July 31, 1995 and
       1994, respectively.
  
  6.   Income taxes:
  
       The Company is classified as a personal holding company for
       each of the periods presented.  The Company is subject to a
       Federal tax equal to 28% of its undistributed earnings, in
       addition to any other income taxes payable.
  
  Item 2.   Management's Discussion and Analysis of
            Financial Condition and Results of Operations
            _____________________________________________
  
            The following discussion addresses the financial
  condition and results of operations of the Company for the second
  quarter and six months ended July 31, 1995 compared with the same
  periods in the prior year.  This discussion should be read in
  conjunction with the Management's Discussion and Analysis Section
  included in the Company's Annual Report on Form 10-K for the
  fiscal year ended January 31, 1995, to which the reader is
  directed for additional information.
  
            The Company has recorded an increase in income of
  $34,972 and $50,547 for the three and six month periods ended
  July 31, 1995, respectively, as compared to the same periods in
  the prior year due to an increase in interest income.  General
  and administrative expenses decreased by $189 for the second
  quarter and increased by $2,166 for the first six months of this
  year as compared to the same periods in the prior year due
  primarily to increased costs associated with the Company's
  restructuring and enforcement actions against an unrelated debtor
  and its affiliates (see Note 2 to Financial Statements).  The
  increase in interest income resulted in net income of $31,824 and
  $27,284 for this year's second quarter and six months,
  respectively, compared with net losses of $3,337 and $5,466 for
  the same periods in the prior year.
  
            The Company's only current business activity consists
  of a loan to an unrelated party, Antiquities of Nevada, Inc.  The
  Company is pursuing its rights against a shareholder guarantor
  for reimburseable legal fees and expenses.  See Note 2 to
  Financial Statements.  The Company's only income consists of
  interest income.
  
                      PART 2.  OTHER INFORMATION
                     ___________________________
  
  Item 6.        EXHIBITS AND REPORTS ON FORM 8-K
                 ________________________________
  
                 (a)  Exhibits:  None
  
                 (b)  Reports on Form 8-K:  None
  
                              SIGNATURES
                              __________
  
            Pursuant to the requirements of the Securities Exchange
  Act of 1934, the Registrant has duly caused this report to be
  signed on its behalf by the undersigned thereunto duly
  authorized.
  
                                     BALA CYNWYD CORPORATION
  
  Dated:  September 12, 1995         By:/s/ Albert M. Zlotnick
                                        ___________________________
                                          Albert M. Zlotnick
                                          President
                                          Chairman of the Board
                                          Chief Financial Officer
                                          and Chief Executive
                                          Officer