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 September 30, 1997	
Commission File No 0-2892


THE DEWEY ELECTRONICS CORPORATION


A New York Corporation		I.R.S. Employer Identification
					No. 13-1803974

27 Muller Road
Oakland, New Jersey 07436
(201) 337-4700


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 (or for such shorter period that 
the registrant was required to file such reports), and (2) has been subject 
to such filing requirements for the past 90 days.  Yes  X   No    .


The number of shares outstanding of the registrant's common stock, $.01 par 
value was 1,339,531 at September 30, 1997.



THE DEWEY ELECTRONICS CORPORATION


INDEX




Part I		Financial Information				Page No.


		Condensed balance sheets -
			September 30, 1997 and June 30, 1997		 1

		Condensed statements of income -
			Three months ended September 30, 1997
			and September 30, 1996				 2

		Statements of cash flows for the three months
			ended September 30, 1997 and 1996		 3

		Notes to condensed financial statements			 4

		Management's Discussion and Analysis of
			Financial Condition and Results of
			Operations					 6


Part II		Other Information


Item 6.	Exhibits and Reports on Form 8-K					9


	THE DEWEY ELECTRONICS CORPORATION
	CONDENSED BALANCE SHEET

                                             SEPTEMBER 30       JUNE 30
                                                1997              1997
                                             (UNAUDITED)       (AUDITED)*

ASSETS:
CURRENT ASSETS:
   CASH                                         $290,935       $   318,058
   ACCOUNTS RECEIVABLE                           263,506           377,478
   INVENTORIES                                 1,056,084         1,057,338
   CONTRACT COSTS & RELATED EST
     PROFITS IN EXCESS OF APPLICABLE
     BILLINGS                                  1,708,807         1,271,107
   PREPAID EXPENSES & OTHER CURRENT
     ASSETS                                      115,669            52,032

   TOTAL CURRENT ASSETS                       $3,435,001        $3,076,013


PLANT PROPERTY & EQUIPMENT                     1,051,937         1,085,260

OTHER ASSETS:

   DEFERRED TAX ASSETS                           426,081           421,280
   OTHER NON CURRENT ASSETS                      130,973            62,666

      TOTAL OTHER ASSETS                         557,054           483,946

TOTAL ASSETS                                  $5,043,992        $4,645,219

LIABILITIES & STOCKHOLDERS EQUITY:
CURRENT LIABILITIES
   TRADE ACCOUNTS PAYABLE                       $177,097          $116,082
   ACCRUED LIABILITIES                           375,251           407,644
   BILLINGS IN EXCESS OF CONTRACT
      COSTS & RELATED ESTIMATED
      PROFITS                                    701,608           701,608
   CURRENT PORTION OF LONG
     TERM DEBT                                    48,157           342,604

   TOTAL CURRENT LIABILITIES                  $1,302,113        $1,567,938

LONG TERM PORTION OF LONG TERM 
   DEBT                                        2,251,843         1,580,042

OTHER LONG TERM LIABILITY                         62,699            62,699
DUE TO RELATED PARTY                             200,000           200,000

STOCKHOLDERS' EQUITY:
   COMMON STOCK                                   16,934            16,934
   PAID IN CAPITAL                             2,835,360         2,835,360
   RETAINED EARNINGS                          (1,104,807)       (1,097,604)
                                               1,747,487         1,754,690
LESS TREASURY STOCK AT COST                     (520,150)         (520,150)

   TOTAL STOCKHOLDERS' EQUITY                  1,227,337         1,234,540
TOTAL LIABILITIES & STOCKHOLDERS'EQUITY       $5,043,992        $4,645,219

*- CONDENSED FROM AUDITED FINANCIAL STATEMENTS

1

THE DEWEY ELECTRONICS CORPORATION
CONDENSED INCOME STATEMENT


                          					      THREE MONTHS ENDED SEPTEMBER 30,

                                                1997            1996

REVENUES                                      $702,453        $954,187

   COST OF REVENUES                            471,894         754,610

GROSS PROFIT / (LOSS)                          230,559         199,577

   SELLING & ADMIN EXPENSES                    193,448         228,140

OPERATING PROFIT / (LOSS)                       37,111         (28,563)

   INTEREST EXPENSE                             49,937          59,960

   BANK FINANCING FEES                            0              2,018

   OTHER (INCOME)/EXPENSE                         (823)           (715)

INCOME / (LOSS) BEFORE TAXES                   (12,003)        (89,826)

DEFERRED TAX BENEFIT/(EXPENSE)                   4,801          35,930

NET INCOME / (LOSS)                            $(7,202)       $(53,896)



INCOME PER SHARE BEFORE TAXES
   PRIMARY                                     $(0.01)         $(0.07)
   FULLY DILUTED                               $(0.01)         $(0.07)

NET INCOME PER SHARE
   PRIMARY                                     $(0.01)         $(0.04)
   FULLY DILUTED                               $(0.01)         $(0.04)

WEIGHTED AVERAGE NUMBER OF
  SHARES OUTSTANDING
    PRIMARY                                   1,339,531        1,339,531
    FULLY DILUTED                             1,339,531        1,339,531

2

THE DEWEY ELECTRONICS CORPORATION
STATEMENTS OF CASH FLOWS

                                 						THREE MONTHS ENDED SEPTEMBER 30,
                                                1997           1996

CASH FLOWS FROM OPERATIONS:
  NET (LOSS)/INCOME                            $(7,202)       $(53,896)

ADJUSTMENTS TO RECONCILE NET INCOME
  TO NET CASH PROVIDED BY OPERATING
  ACTIVITIES:
   DEPRECIATION                                 33,323          31,358
   DECREASE/(INCREASE) IN ACCOUNTS 
        RECEIVABLES                            113,971         507,314
   DECREASE/(INCREASE) IN INVENTORIES            1,254         131,904
   (INCREASE) IN CONTRACT COSTS AND
     RELATED ESTIMATED PROFITS IN 
     EXCESS OF APPLICABLE BILLINGS            (437,700)         51,211
   (INCREASE) IN PREPAID EXPENSES AND
     OTHER CURRENT ASSETS                      (63,637)        (31,965)
    INCREASE IN ACCOUNTS PAYABLE                61,015           9,536
   (DECREASE) IN ACCRUED EXPENSES              (32,393)        (67,468)
   (INCREASE) IN OTHER ASSETS                  (73,108)        (34,919)

   TOTAL ADJUSTMENTS                         $(397,275)       $596,971

NET CASH (USED IN)/PROVIDED BY 
   OPERATIONS                                $(404,477)       $543,075

CASH FLOWS FROM INVESTING ACTIVITIES:
   EXPENDITURES FOR PLANT, PROPERTY AND
   EQUIPMENT                                     0               0

NET CASH (USED IN) INVESTING                     0               0

CASH FLOWS FROM FINANCING ACTIVITIES:
   PRINCIPAL PAYMENTS OF LONG TERM 
   DEBT                                      (1,922,646)       (80,093)
   DEBT REFINANCED                            2,300,000            0
NET CASH PROVIDED BY/(USED IN) 
   FINANCING                                   $377,354        ($80,093)

NET INCREASE/(DECREASE) IN CASH                $(27,123)       $462,982

CASH AT BEGINNING OF PERIOD                     318,058          88,402

CASH AT END OF PERIOD                          $290,935        $551,384

3



THE DEWEY ELECTRONICS CORPORATION
NOTES TO CONDENSED FINANCIAL STATEMENTS
(UNAUDITED)

NOTE 1:	BASIS OF PRESENTATION

The financial information included herein is unaudited; however, such 
information reflects all adjustments (consisting solely of normal recurring 
adjustments) which are, in the opinion of management, necessary for a fair 
statement of results for the interim periods.

The results of operations for the three month period ended September 30, 
1997 are not necessarily indicative of the results to be expected for the 
full year.

NOTE 2:	CASH AND CASH EQUIVALENTS

Cash and cash equivalents include cash on hand and on deposit in banks and 
securities with a maturity date not in excess of three months.  The carrying 
amount of cash and cash equivalents approximates fair value due to the short 
maturity of such investments.

NOTE 3:	FAIR VALUE OF FINANCIAL INSTRUMENTS

Due to the short term nature of accounts receivable and accounts payable 
their carrying value is a reasonable estimate of fair value.

NOTE 4:	INVENTORIES

Inventories are valued at lower of cost (first-in, first-out method) or 
market.  Components of cost include materials, direct labor and plant 
overhead.

As there is no segregation of inventories as to raw materials, work in 
progress and finished goods for interim reporting periods (this information 
is available at year end when physical inventories are taken and recorded), 
estimates have been made for the interim period.

                    					September 30, 1997	  June 30, 1997
			                        		(UNAUDITED)	      	(AUDITED)

		Finished Goods           		$208,576         		$219,890
		Work In Process	          	$357,306         		$344,032
		Raw Materials	            	$490,202         		$493,416
				                        	________         		________
				Total                  $1,056,084	        $1,057,338
                         					=======         		========


4

THE DEWEY ELECTRONICS CORPORATION
NOTES TO CONDENSED FINANCIAL STATEMENTS


(UNAUDITED)

NOTE 5:	USE OF ESTIMATES

The process of preparing financial statements in conformity with Generally 
Accepted Accounting Principles requires the use of estimates and assumptions 
regarding certain types of assets, liabilities, revenues and expenses.  Such 
estimates primarily relate to unsettled transactions and events as of the 
date of the financial statements.  Accordingly, upon settlement, actual 
results may differ from estimated amounts.

NOTE 6:	PLANT, PROPERTY AND EQUIPMENT

Property, plant and equipment are stated at cost. Allowance for depreciation 
and amortization is provided on a straight-line basis over estimated useful 
lives of three to ten years for machinery and equipment, ten years for 
furniture and fixtures, and twenty years for building and improvements.

In 1996, the Company adopted Statement of Financial Accounting Standards 
("SFAS") 121, "Accounting for the Impairment of Long-Lived Assets and for 
Long-Lived Assets to be Disposed of ("SFAS 121").  This standard specifies 
when assets should be reviewed for impairment, how to determine if an asset 
is impaired, how to measure an impairment loss, and what disclosures are 
necessary in the financial statements.  The effect of adopting SFAS 121 is 
not considered significant.

NOTE 7:	NET INCOME PER SHARE

Net income per share for the three months ended September 30, 1997 is based 
upon the weighted average number of shares outstanding.  For the periods 
ended September 30, 1997, and September 30, 1996, stock options have not 
been considered as the effect would have been antidilutive.  The number of 
shares used in the computation of net income per share was:  1,339,531 in 
1997 and in 1996.

5


THE DEWEY ELECTRONICS CORPORATION

MANAGEMENT'S DISCUSSION AND ANALYSIS OF
FINANCIAL CONDITION AND RESULTS OF OPERATIONS


The following discussion and analysis contains certain forward-looking 
statements that should be read in conjunction with the Company's Report on 
Form 10-K for its fiscal year ended June 30, 1997.  Reference is made 
generally to the information contained in the Form 10-K.

Three months ended September 30, 1997 vs. 1996
--------------------------------------------

For the first quarter of this fiscal year, revenues were $702,453, a 
decrease of $251,734 from last year's first quarter revenues of $954,187.  
This decrease in revenues is the result of a decrease in leisure segment 
revenues discussed below.

Electronic product revenues during this quarter decreased by $6,702 (from 
$686,527 last year to $679,825 this year).  Leisure product revenues 
decreased by $245,032 (from $267,660 to $22,628).

Electronic product revenues remained level with the same period last year.  
In August 1996, the Company was awarded a contract with the U.S. Army for 
the production of tactical generator sets over a five year period.  The 
contract initially funded $1 million for first article test units with 
estimated production quantities for each of the next 5 years.  The first 
such production order in the amount of approximately $5 million was received 
in May 1997 and was increased by approximately 11% in July 1997.  This
project accounted for 49% of electronic segment revenues.

The remaining 51% of electronic product revenues was from various orders, 
more limited in scope and duration, that were generally for replacement 
parts for previously supplied Department of Defense equipment and other 
projects performed as a subcontractor.  A large part of such other revenues 
continue to be attributable to the Company's Pitometer Log Division, which 
manufactures speed and distance measuring instrumentation for the U.S. Navy.

In last year's first quarter, most of the Company's revenues were derived 
from contracts under the U.S. Navy's MK48 ADCAP torpedo program.  The MK48 
ADCAP torpedo program is now substantially complete.  The remaining 40% of 
electronic product revenues were provided by short term projects.

As of September 30, 1997, the aggregate value of the Company's backlog of 
electronic products not previously recorded as revenues was approximately 
$5 million.  It is estimated that most of this backlog will be recognized as 
revenues during the 1998 fiscal year.

6

Most of the backlog is attributable to the first production order for 
tactical generator sets, received in May 1997, under the contract with the 
U.S. Army.  Delivery of the first production order is scheduled to begin in 
March 1998 and receipt of the second of the four remaining production orders 
is expected around June 1998.  While the contract with the Army includes 
four additional annual orders and has the potential for total sales over 
the remaining life of the contract of up to approximately $32 million,
there can be no assurance that the Army will order any additional amounts.

In the leisure and recreation segment, revenues decreased by $245,032 
compared to last year revenues which included sales of snowmaking machines 
during the first quarter.  The major portion of revenues from this segment 
of business have been traditionally recorded during the second quarter.  
However, the Company does not expect that the sale of snowmaking machines 
will meet last year levels.

Operations resulted in a profit of $.03 per share this year compared to a 
loss of $.02 per share last year, as a result of higher profit margins in 
both segments of business.  The Company is still focused on reducing 
overhead costs and expects to benefit from reductions already made since 
last year.

Liquidity and Capital Resources at September 30, 1997
------------------------------------------------------

The Company's working capital as of September 30, 1997 was $2,132,888 
compared to $1,508,074 at June 30, 1997.  The increase of $624,814 is 
attributable to a reduction in the current portion of long term debt in the 
amount of $294,447, a reduction in accounts receivables of $113,971 due to 
collections, an increase in prepaid expenses of $63,637 and an increase in 
contract costs and related estimated profits in excess of applicable 
billings in the amount of $437,700.

The current portion of long term debt was reduced as a result of new 
borrowing arrangements which the Company entered into with Sovereign Bank 
(the 'Bank') on September 18, 1997.  Under this new agreement:

- The Company borrowed $2,300,000 at an interest rate of 8.25% per annum, 
repayable in monthly installments of approximately $20,000 with a final 
maturity in year 2002, evidenced by delivery of a mortgage note payable to 
the Bank (the "Mortgage Note").

- The Bank agreed to provide up to an additional $500,000 under a line-of-
credit agreement, to be evidenced by promissory notes bearing interest at a 
rate 3/4 of 1% over prime that will become due and payable on October 31, 
1998.  In the Bank's discretion, this line of credit may be renewed for a 
further period or periods.


7


The Mortgage Note will be secured by a first mortgage on all of the 
Company's land and its building.  Borrowings under the line-of-credit 
arrangement will be secured by a first lien on all of the 
Company's machinery, equipment other personal property.

Approximately $1,900,000 of the proceeds from the issuance of the Mortgage 
Note was applied to the prepayment in full of the outstanding balances due 
from the Company to Fleet Bank under its secured term loan agreement with 
the Company and to New Jersey Economic Development Authority under a 
mortgage note.  The interest rate on the prepaid indebtedness was 9% per 
annum.  The prepaid indebtedness was secured by liens on virtually all of 
the Company's real and personal property.  Under the former term loan 
agreement, the Company was subject to numerous affirmative and negative 
covenants containing working capital, net worth and other financial 
criteria.  The new borrowing arrangements with the Bank contain no such 
financial covenants.

For the three month period ending September 30, 1997 $404,477 net cash was 
used in operations as a result of an increase in contract costs and related 
estimated profits in excess of applicable billings.  Reduced accounts 
receivable of $113,971 was used to increase prepaid expenses and other assets.

During the same period last year, $543,075 net cash flow was provided by 
operations as a result of reduced accounts receivable during the period of 
$507,314 which at the end of the period was reflected in cash balances.

No expenditures were made for investing activities this year and last year 
during the first quarters.

It is during the first quarter that the greatest demand is made on working 
capital due to the strong inventory requirements and investment required to 
produce snowmaking machines for sale in subsequent fiscal quarters.

The Company continues to meet its short term liquidity needs through a 
combination of progress payments on government contracts (based on costs 
incurred) and billings at the time of delivery of products.

On a long term basis, the Company's liquidity will be dependent on the 
ability to maintain borrowing arrangements with its new lender 
Sovereign Bank or other lenders.

The Company had no material commitments for capital expenditures as of 
September 30, 1997.


8



PART II - OTHER INFORMATION


Item 6.	Exhibits and Reports on Form 8-K
------------------------------------------------------------------

No reports on Form 8-K have been filed during the quarter ended 
September 30, 1997.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of l934, the 
registrant has duly caused this report to be signed on its behalf by the 
undersigned thereunto duly authorized.

						THE DEWEY ELECTRONICS CORPORATION



November 14, 1997				_________________________________
               						Thom A. Velto, Treasurer
					               	Principal Accounting Officer



November 14, 1997				________________________________
               						Edward L. Proskey
				               		Vice President, Operations

9