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, 1998			
	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, 1998.



THE DEWEY ELECTRONICS CORPORATION


INDEX




Part I	Financial Information				Page No.


		Condensed balance sheets -
		September 30, 1998 and June 30, 1998		1

		Condensed statements of income -
		Three months ended September 30, 1998
		and September 30, 1997				2

		Statements of cash flows for the three months
		ended September 30, 1998 and 1997		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				8


	THE DEWEY ELECTRONICS CORPORATION
	CONDENSED BALANCE SHEET

                                            SEPTEMBER 30     JUNE 30
                                               1998            1998
                                            (UNAUDITED)    (AUDITED)*
ASSETS:
CURRENT ASSETS:
    CASH                                    $    84,594   $   134,449
    ACCOUNTS RECEIVABLE                         822,115       449,534
    INVENTORIES                               1,099,780     1,050,027
    CONTRACT COSTS & RELATED
      EST PROFITS IN EXCESS
       OF APPLICABLE BILLINGS                 1,063,292     1,193,520
    PREPAID EXPENSES & OTHER 
      CURRENT ASSETS                             71,538        60,556

    TOTAL CURRENT ASSETS                     $3,141,319    $2,888,086

PLANT PROPERTY & EQUIPMENT                      934,046       963,932

OTHER ASSETS:
    DEFERRED TAX ASSETS                         693,808       722,308
    OTHER NON CURRENT ASSETS                    137,019       138,876

      TOTAL OTHER ASSETS                        830,827       861,184

TOTAL ASSETS                                 $4,906,192    $4,713,202

LIABILITIES & STOCKHOLDERS EQUITY:
CURRENT LIABILITIES
    TRADE ACCOUNTS PAYABLE                  $   348,511   $   181,525
    ACCRUED LIABILITIES                         456,950       411,627
    BILLINGS IN EXCESS OF CONTRACT
      COSTS & RELATED ESTIMATED
      PROFITS                                   701,608       701,608
   CURRENT PORTION OF LONG TERM
       DEBT                                     100,795       149,788

        TOTAL CURRENT LIABILITIES            $1,607,864    $1,444,548

LONG TERM PORTION OF LONG
       TERM DEBT                              2,206,672     2,219,746

OTHER LONG TERM LIABILITY                        61,172        61,172
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                        (1,501,660)   (1,544,408)
                                              1,350,634     1,307,886

LESS TREASURY STOCK AT COST                    (520,150)     (520,150)

      TOTAL STOCKHOLDERS' EQUITY                830,484       787,736
TOTAL LIABILITIES & 
     STOCKHOLDERS' EQUITY                    $4,906,192    $4,713,202

*- CONDENSED FROM AUDITED FINANCIAL STATEMENTS

1


THE DEWEY ELECTRONICS CORPORATION
STATEMENT OF EARNINGS


                                   					THREE MONTHS ENDED SEPTEMBER 30,

                                            1998              1997

REVENUES                                   $1,740,718        $702,453

   COST OF REVENUES                         1,439,372         471,894

GROSS PROFIT / (LOSS)                         301,346         230,559

   SELLING & ADMIN EXPENSES                   181,008         193,448

OPERATING PROFIT / (LOSS)                     120,338          37,111

   INTEREST EXPENSE                            54,341          49,937

   OTHER (INCOME)/EXPENSE                      (5,250)           (823)

INCOME / (LOSS) BEFORE TAXES                   71,248         (12,003)

DEFERRED TAX BENEFIT/(EXPENSE)                (28,500)          4,801

NET INCOME / (LOSS)                           $42,748         $(7,202)


INCOME PER SHARE BEFORE TAXES
    PRIMARY                                    $0.05           $(0.01)
    FULLY DILUTED                              $0.05           $(0.01)

NET INCOME PER SHARE
    PRIMARY                                    $0.03           $(0.01)
    FULLY DILUTED                              $0.03           $(0.01)


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,
                                               1998               1997
CASH FLOWS FROM OPERATIONS:
  NET (LOSS)/INCOME                           $42,748           $(7,202)

ADJUSTMENTS TO RECONCILE NET INCOME
  TO NET CASH PROVIDED BY OPERATING
  ACTIVITIES:
   DEPRECIATION                                36,564            33,323
   (INCREASE)/DECREASE IN ACCOUNTS 
     RECEIVABLES                             (372,581)          113,971
   (INCREASE)/DECREASE IN INVENTORIES         (49,753)            1,254
   DECREASE/(INCREASE) IN CONTRACT
     COSTS AND RELATED ESTIMATED
     PROFITS IN EXCESS OF APPLICABLE
     BILLINGS                                 130,228          (437,700)
   (INCREASE) IN PREPAID EXPENSES AND 
      OTHER CURRENT ASSETS                    (10,982)          (63,637)
    INCREASE/(DECREASE) IN ACCOUNTS 
       PAYABLE                                166,986            61,015
    INCREASE/(DECREASE) IN ACCRUED 
       EXPENSES                                45,323           (32,393)
    DECREASE/(INCREASE) IN OTHER 
       ASSETS                                  30,357           (73,108)

   TOTAL ADJUSTMENTS                         $(23,858)        $(397,275)

NET CASH PROVIDED BY/(USED IN) 
OPERATIONS                                    $18,890         $(404,477)

CASH FLOWS FROM INVESTING ACTIVITIES:
   EXPENDITURES FOR PLANT, PROPERTY AND
   EQUIPMENT                                   (6,678)            0

NET CASH (USED IN) INVESTING                  $(6,678)           $0

CASH FLOWS FROM FINANCING ACTIVITIES:
   PRINCIPAL PAYMENTS OF LONG TERM 
    DEBT                                      (62,067)        (1,922,646)
   DEBT REFINANCED                                0            2,300,000
NET CASH PROVIDED BY/(USED IN) 
   FINANCING                                 $(62,067)          $377,354

NET INCREASE/(DECREASE) IN CASH              $(49,855)          $(27,123)

CASH AT BEGINNING OF PERIOD                   134,449            318,058

CASH AT END OF PERIOD                         $84,594           $290,935

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, 1998 are not necessarily indicative of the 
results to be expected for the full year.

NOTE 2:	CASH EQUIVALENTS

The Company considers all highly liquid debt instruments with 
a maturity of three months or less at the date of purchase to 
be cash equivalents.  For the periods ended September 30, 
1998 and June 30, 1998 the Company had no cash equivalents.

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, 1998     	June 30, 1998
		                        		(UNAUDITED)	        	(AUDITED)

	Finished Goods            		$486,627	           	$458,104
	Work In Process	           	$178,773	           	$159,757
	Raw Materials	             	$434,380           		$432,166
                         				________           		________
			Total                  	$1,099,780         		$1,050,027
				========		========


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.

Whenever events indicate that the carrying values of Long-
Lived assets may not be recoverable, the Company evaluates 
the carrying values of such assets using future undiscounted 
cash flows.  Management believes that, as of September 30, 
1998, the carrying values of such assets are appropriate.

NOTE 7:	EARNINGS PER SHARE

Effective June 30, 1997, the Company adopted Statement of 
Financial Accounting Standards ("SFAS") No. 128, "Earnings 
per Share," which replaces primary and fully diluted earnings 
per share calculated under Accounting Principles Board 
Opinion No. 15, "Earnings per Share," with basic and diluted 
earnings per share.  Basic earnings per share is computed by 
dividing net income by the weighted-average number of common 
shares outstanding.  Diluted earnings per share is computed 
by dividing net income by the weighted-average number of 
common and common equivalent shares outstanding adjusted for 
the dilutive effect of stock options (unless such common 
stock equivalents would be anti-dilutive), and the 
computation of diluted earnings per share assumes the 
exercise of stock options using the treasury stock method.

All per share amounts presented herein have been calculated 
in accordance with the provisions of SFAS No. 128.  The 
number of shares used in the computation of earnings per 
share was 1,339,531 in each of the periods ended September 
30, 1998 and September 30, 1997.  Since the computation of 
diluted earnings per share is anti-dilutive, the amounts 
reported for basic and diluted earnings per share are the 
same.




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, 1998, including the cautionary statements that 
appear following the caption "Current business Environment" 
and elsewhere in the 10-K.  Reference is made generally to 
the information contained in the Form 10-K.

Three months ended September 30, 1998 vs. 1997
-------------------------------------------------------------

Revenues for the first quarter this year were $1,740,718 
increasing by $1,038,265 compared to last year's revenues of 
$702,453.  This increase is the result of an increase in 
revenues in both the electronic and leisure and recreation 
segments.

Electronic product revenues increased by $1,024,333 (from 
$679,825 to $1,704,158) as a result of production efforts 
made on the Company's contract with the U.S. Army for 
tactical generator sets.  This contract accounted for 89% of 
the electronic segment revenues.  Production efforts under 
this program began later than originally anticipated.  
Delivery of these tactical generator sets had been scheduled 
to begin in March 1998.  As a result of engineering changes 
initiated by the Company and approved by the U.S. Army, 
deliveries were rescheduled to begin in November 1998.  The 
Company anticipates that the U.S. Army will continue to place 
orders for the tactical generator sets; however, no 
assurances can be given that the U.S. Army will continue to 
do so.  Orders not yet received are not reflected in the 
September 30, 1998 backlog figure given below.

The remaining 11% of electronic product revenues resulted 
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.

Last year, the tactical generator set project accounted for 
49% of electronic segment revenues and the remaining 51% were 
derived from short term projects.

As of September 30, 1998, 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 1999 fiscal year.

As of September 30, 1997, the aggregate value of the 
Company's backlog of electronic products not previously 
recorded as revenues was also approximately $5 million.

6



In the leisure and recreation segment, revenues increased by 
$13,932 compared to last year's revenues (from $22,628 to 
$36,560).  All of the revenues in both first quarters were 
the result of the sales of replacement parts.  Traditionally, 
the major portion of revenues in this segment are recorded 
during the second quarter when snowmaking machine sales are 
recorded.  The Company anticipates an improvement in machine 
sales compared to last year.  The Company has not received 
any orders for snowmaking machines for export this year and 
none last year.

Operations resulted in an operating profit of $.09 per share 
compared to a profit of $.03 per share last year.  Net 
earnings were $.03 per share compared to a net loss last year 
of $.01 per share during the same period.

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

The Company's working capital as of September 30, 1998 was 
$1,533,455 compared to $1,443,538 at June 30, 1998.

This increase of $89,917 is attributable to an increase in 
accounts receivable of $372,581 (due to increased billings) a 
reduction in contract costs and related estimated profits in 
excess of applicable billings of $130,228 (also due to 
increased billings) and an increase in accounts payable of 
$166,986 due to increased production activity.

For the three month period ending September 30, 1998, $18,890 
was provided by operations compared to last year usage by 
operations of $404,477.

This year, the Company expended $6,678 for plant property and 
equipment during the first quarter.  There were no 
expenditures made for investing activities last year.

The Company has no material commitments for capital 
expenditures as of September 30, 1998.

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 lender Sovereign Bank or other lenders.





7



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, 1998.

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 13, 1997	Thom A. Velto, Treasurer
               			Principal Accounting Officer



November 13, 1997	Edward L. Proskey
               			Vice President, Operations



8