Form 1O-Q



                  SECURITIES AND EXCHANGE COMMISSION

                        Washington, D.C. 20549



                 Quarterly Report Under Section 13 or
                             15(d) of the
                   Securities Exchange Act of 1934


               For the Quarter Ended September 30, 1998


                       Commission File No. 0-1392


            Central Coal & Coke Corporation and Subsidiaries
        Incorporated in State of Delaware IRS Number:  44-0195290
                      127 West 10th Street, Room 666
                        Kansas City, Missouri 64105



                            Phone:  816-842-2430



            Common stock outstanding as of September 30, 1998
                      $1 par value; 356,595 shares



The Registrant (l) has filed all reports required to be filed by 
Section 13 or 15(d) of the Securities Exchange Act of 1934 during
the preceding twelve months, and (2) has been subject to such
filing requirements for the past ninety days.

                            Yes [X]     No [ ]

 
<PAGE>



CENTRAL COAL & COKE CORPORATION AND SUBSIDIARIES
KANSAS CITY, MISSOURI


Table of Contents


PART I - FINANCIAL INFORMATION

        Item 1. Financial Statements:

           Consolidated Balance Sheets - September 30, 1998 and
             December 31, 1997
               
           Consolidated Statements of Earnings and Retained Earnings
             - Nine and three months ended September 30, 1998 and 1997

           Consolidated Statements of Cash Flows - Nine months
             ended September 30, 1998 and 1997
                  
           Notes to Consolidated Financial Statements

        Item 2. Management's Discussion and Analysis of Financial
          Condition and Results of Operations

PART II - OTHER INFORMATION

        Item 1. Legal Proceedings

        Item 2. Changes in Securities

        Item 3. Defaults Upon Senior Securities

        Item 4. Submission of Matters to a Vote of Security Holders

        Item 5. Other Information

        Item 6. Exhibits and Reports on Form 8-K

SIGNATURES

<PAGE>  
<TABLE>

PART I - FINANCIAL INFORMATION             ITEM 1.  FINANCIAL STATEMENTS

CENTRAL COAL & COKE CORPORATION AND SUBSIDIARIES
KANSAS CITY, MISSOURI

Consolidated Balance Sheets

September 30, 1998 and December 31, 1997
(Unaudited)

(amounts in unit dollars)
<CAPTION>
ASSETS                                          1998         1997
                                                __________   __________
<S>                                             <C>          <C>
Current assets:
  Cash and cash equivalents                   $  1,587,298    1,493,966
  Accounts receivable                                    0       22,500
  Securities maturing within one year,
   at amortized cost (note 2) (fair value
   $7,430,425 and $7,443,950 at September 30,
   1998 and December 31, 1997)                   7,417,632    7,443,948
  Note receivable, current position                 16,346            0
  Other                                             10,721       46,382
                                                __________   __________
Total current assets                             9,031,997    9,006,796

Equity securities, at fair value (note 2)          966,478      828,797

Note receivable                                    118,654            0

Coal deposits, real estate, equipment
 and leasehold improvements:
  Coal deposits                                  1,602,882    1,602,882
  Mineral rights                                    39,988       39,988
  Surface land                                      26,768       28,115
  Equipment and leasehold improvements               6,053      284,373
                                                __________   __________
                                                 1,675,691    1,955,358
  Less accumulated depletion, depreciation
     and amortization                              579,500      785,537
                                                __________   __________
     Net coal deposits, real estate,
      equipment and leasehold improvements       1,096,191    1,169,821

                                                __________   __________
                                              $ 11,213,320   11,005,414
</TABLE>
<TABLE>

<CAPTION>
LIABILITIES AND STOCKHOLDERS' EQUITY
<S>                                             <C>          <C>
Current liabilities:
  Accounts payable and accrued expenses       $     48,459       16,962
  Deferred oil lease bonus                         121,696            0
  Federal and state income taxes                    25,095       26,520
                                                __________   __________
Total current liabilities                          195,250       43,482

Deferred income taxes                               14,037       69,840

Stockholders' equity:
  Common stock of $1 par value; authorized
   500,000 shares; issued 376,688 shares           376,688      376,688
  Additional capital                             1,631,200    1,631,200
  Retained earnings                              9,468,372    9,252,798
                                                __________   __________
                                                11,476,260   11,260,686

  Less cost of 20,093 shares held in treasury      599,032      599,032
  Accumulated other comprehensive income           126,805      230,438
                                                __________   __________
Total stockholders' equity                      11,004,033   10,892,092
                                                __________   __________
                                              $ 11,213,320   11,005,414
<FN>
See accompanying notes to consolidated financial statements.
</TABLE>


<PAGE>
<TABLE>


CENTRAL COAL & COKE CORPORATION AND SUBSIDIARIES
KANSAS CITY, MISSOURI

Consolidated Statements of Earnings and Retained Earnings

Nine months ended September 30, 1998 and 1997 and
three months ended September 30, 1998 and 1997
(Unaudited)


(amounts in unit dollars)
<CAPTION>
                                    Nine months         Three months
                                ended September 30,  ended September 30,
                                   1998      1997       1998      1997
                                _________ _________  _________ _________
<S>                             <C>       <C>        <C>       <C>
Operating revenue:
  Coal royalties              $    51,514    51,506     23,616    24,085
  Oil and gas royalties           329,241   685,014     40,018   192,040
  Oil and other mineral lease
   rentals and bonuses            100,920   127,816     34,877    10,537
                                _________ _________  _________ _________
    Total operating revenue       481,675   864,336     98,511   226,662

Operating expenses - general 
 and administrative expenses      218,613   265,561     51,660    49,315

    Operating income              263,062   598,775     46,851   177,347

Nonoperating income:
  Investment income               378,133   509,046    113,106   251,964
  Gain on sale of real estate      71,719       785     34,530         0
  Other                               467     2,976         15       415
                                _________ _________  _________ _________
    Total nonoperating income     450,319   512,807    147,651   252,379

    Earnings before income 
     taxes                        713,381 1,111,582    194,502   429,726

Income taxes                      243,651   375,761     69,260   149,695
                                _________ _________  _________ _________
Earnings from continuing
 operations before income taxes   469,730   735,821    125,242   280,031

Discontinued operations, net of
 income taxes (note 3):
    Loss from operations of 
     discontinued food 
     operations                  (88,724)  (86,919)   (32,974)  (30,165)
    Gain on disposal of food
     operations                    12,866         0     12,866         0
                                _________ _________  _________ _________

    Net earnings                  393,872   648,902    105,134   249,866

Retained earnings at 
 beginning of period            9,252,798 9,014,237  9,363,238 9,230,590
Deduct cash dividends declared 
 of $.50 per share in 1998 
 and $1.50 per share 1997       (178,298) (539,278)          0 (356,595)
                                _________ _________  _________ _________
Retained earnings at end 
 of period                    $ 9,468,372 9,123,861  9,468,372 9,123,861

Earnings per share from
 continuing operations - basic
 and diluted                  $      1.32      2.02       0.35      0.78

Earnings per share from
 discontinued operations -
 basic and diluted            $    (0.22)    (0.23)     (0.06)    (0.09)

Earnings per share - basic
 and diluted                  $      1.10      1.79       0.29      0.69

Weighted average number 
 of shares of common 
 stock outstanding                356,595   363,514    356,595   360,481

<FN>
See accompanying notes to consolidated financial statements.
</TABLE>

<PAGE>
<TABLE>



CENTRAL COAL & COKE CORPORATION AND SUBSIDIARIES
KANSAS CITY, MISSOURI

Consolidated Statements of Cash Flows

Nine months ended September 30, 1998 and 1997
(Unaudited)


(amounts in unit dollars)
<CAPTION>
                                                   1998         1997
                                                __________   __________
<S>                                             <C>          <C>
Cash flows from operating activities:
  Net earnings                                $    393,872      648,902

  Adjustments to reconcile net earnings to
   net cash provided by operating activities:
    Depletion, depreciation and amortization        38,830       48,647
    Amortization of premiums and
     discounts of securities, net                (303,622)    (300,407)
    Gains on sales of real estate and subsidiary  (91,213)        (785)
    Gain on sale of equity securities             (19,124)    (161,458)
    Changes in assets and liabilities:
      Accounts receivable                           22,500       22,500
      Other assets                                  35,661        9,925
      Deferred oil lease bonus                     121,696     (74,166)
      Accounts payable and accrued expenses         31,497       27,146
      Federal and state income taxes payable       (1,425)       65,811
                                                __________   __________
   Total adjustments                             (165,200)    (362,787)

   Net cash provided by operating activities       228,672      286,115

Cash flows from investing activities: 
  Capital expenditures                            (16,521)      (6,454)
  Proceeds from matured/called investment
   debt securities                              22,500,000   19,000,000
  Purchases of investment debt securities     (22,170,062) (18,709,233)
  Proceeds from sale of real estate                 73,066          801
  Proceeds from sale of subsidiary                  69,468            0
  Note receivable                                (135,000)            0
  Purchases of equity securities                 (389,617)    (104,356)
  Proceeds from sales of equity 
   securities                                      111,624      425,304
                                                __________   __________
   Net cash provided by 
    investing activities                            42,958      606,062
                                                
Cash flows from financing activities:
  Purchase of treasury stock                             0    (263,644)
  Payment of dividends                           (178,298)    (182,683)
                                                __________   __________
   Net cash used in financing activities         (178,298)    (446,327)

   Net increase in cash and cash equivalents        93,332      445,850

Cash and cash equivalents, 
 beginning of year                               1,493,966    1,342,955
Cash and cash equivalents,
 end of period                                $  1,587,298    1,788,805

<FN>
See accompanying notes to consolidated financial statements.
</TABLE>
<PAGE>



CENTRAL COAL & COKE CORPORATION AND SUBSIDIARIES
KANSAS CITY, MISSOURI

Notes to Consolidated Financial Statements

September 30, 1998


Note (1) Basis of Presentation:

     In the opinion of the Central Coal & Coke Corporation (the 
Company), the accompanying unaudited consolidated financial statements 
contain all adjustments (consisting of only normal recurring accruals) 
necessary to present fairly the financial position as of September 30, 
1998, and the results of operations and cash flows for the periods
ended September 30, 1998 and 1997.

Oil Lease Bonuses

     Oil lease bonuses which relate to future periods are deferred and
recognized as income over the related future periods (generally one
year).

Reporting Comprehensive Income

     The Company adopted Statement of Financial Accounting Standards 
No. 130, Reporting Comprehensive Income, on January 1, 1998.  This 
statement requires the reporting of comprehensive income and its 
components.  Comprehensive income is defined as the change in equity 
from transactions and other events and circumstances from nonowner 
sources, and excludes investments by and distributions to owners.  
Comprehensive income includes net income and other items of 
comprehensive income meeting the above criteria.  The Company's only 
component of other comprehensive income is the unrealized holding 
gains and losses on available-for-sale securities, net of related 
deferred income taxes.

<TABLE>
<CAPTION>
                                 For the nine        For the three 
                                 months ended         months ended
                                 September 30,       September 30,
                                1998      1997      1998      1997
                               ________  ________  ________  ________
<S>                            <C>       <C>       <C>       <C>     
Net earnings                 $  393,872   648,902   105,134   249,866
Other comprehensive income    (103,633)    81,954 (150,008)    11,549
                               ________  ________  ________  ________
Comprehensive income         $  290,239   730,856  (44,874)   261,415
</TABLE>

<PAGE>



CENTRAL COAL & COKE CORPORATION AND SUBSIDIARIES
KANSAS CITY, MISSOURI

Notes to Consolidated Financial Statements


Note (2) Investment Securities:

     The amortized cost, gross unrealized holding gains, gross
unrealized holding losses and fair value for held-to-maturity and
available-for-sale securities by major security type at September 30,
1998 and December 31, 1997 are as follows:


<TABLE>
<CAPTION>
                                    Gross       Gross
                                    unrealized  unrealized
                        Amortized   holding     holding     Fair
September 30, 1998      cost        gains       losses      value
__________________      __________  __________  __________  __________
<S>                     <C>         <C>         <C>         <C>
Held-to-maturity:
  U. S. government
   securities         $  7,417,632      12,793           0   7,430,425

Available-for-sale:
  Equity securities   $    771,394     337,004   (141,920)     966,478
</TABLE>

<TABLE>
<CAPTION>
December 31, 1997
_________________
<S>                     <C>         <C>         <C>         <C>
Held-to-maturity:
  U. S. government
   securities         $  7,443,948         113       (111)   7,443,950

Available-for-sale:
  Equity securities   $    474,277     388,761    (34,241)     828,797
</TABLE>

<PAGE>



CENTRAL COAL & COKE CORPORATION AND SUBSIDIARIES
KANSAS CITY, MISSOURI

Notes to Consolidated Financial Statements


Note (3) Food Operations

     On September 1, 1998, the Company sold its food operations for 
$135,000.  The Company recorded a gain of $19,494 (less applicable 
income taxes of $6,628).  Prior to the sale, food operations of the 
Company's fast food bagel and delicatessen business includes the 
following expenses for the nine months and three months ended 
September 30, 1998 and 1997:

<TABLE>
<CAPTION>
                             Nine months              Three months
                         ended September 30,       ended September 30,
                           1998        1997         1998        1997
                        __________  __________   __________  __________
<S>                     <C>         <C>          <C>         <C>
Revenues              $    428,637     676,745       33,722     179,206

Cost of food operations    172,630     272,288       15,796      69,093

Food operations expenses:
  Salaries and wages  $    145,968     212,846       23,509      55,991
  Occupancy expense         59,446      84,720       13,560      24,317
  Depreciation expense      32,021      39,037        4,007      11,314
  Utility expense           22,630      29,080        5,339      10,927
  Other expenses           130,372     170,469       21,472      53,268
                        __________  __________   __________  __________
                      $    390,437     536,152       67,887     155,817

Loss from food
 operations              (134,430)   (131,695)     (49,961)    (45,704)

Income tax effect         (45,706)    (44,776)     (16,987)    (15,539)

Loss from food
 operations               (88,724)    (86,919)     (32,974)    (30,165)
</TABLE>

<PAGE>


ITEM 2.  MANAGEMENT'S DISCUSSION AND ANALYSIS OF
FINANCIAL CONDITION AND RESULTS OF OPERATIONS


There was no significant change in the financial condition of the 
Registrant during the first nine months of 1998 from the end of the last 
fiscal year, and it continues very strong.  The liquidity of the 
Registrant continues to be high.

Revenue from oil and gas royalties decreased substantially in the first 
nine months of 1998 from the first nine months of 1997, and also in the 
third quarter of 1998 from the third quarter of 1997.  The decreases in 
the current periods were due to low oil prices and reduced production.  
Revenue from oil and other mineral lease rentals and bonuses were down 
materially in the first nine months of 1998 from the first nine months 
of 1997, while increasing somewhat in the third quarter of 1998 over the 
third quarter of 1997.  Overall, the revenue from this source was 
greater in the year-to-date period in 1997 because more new leases with 
income recognizable during that period were made during that period than 
in the first nine months of 1998.  However, revenue from this source was 
greater in the third quarter of 1998 due to more income being 
recognizable in that period than in the corresponding period of 1997.

The consolidated statements of earnings and retained earnings shows loss 
from operations of discontinued food operations and gain on disposal of 
food operations.  In prior periods, revenue from food sales resulted 
from the operation of Beekman's Deli Systems, Limited Liability Company, 
a limited liability company in which the Registrant is a majority member 
(hereinafter "Beekman's").  Beekman's operated fast food bagel and 
delicatessen facilities in four different locations.  Sales and 
profitability of this operation were disappointing, and one facility had 
been closed in March of 1997 and that lease terminated, and a second 
facility closed effective July 1, 1998, with the premises being 
subleased to another party.  The assets of the final two facilities 
(facilities located at Athens, Ohio and Columbus, Ohio) were sold to an 
unrelated party and the respective leases assigned effective September 
1, 1998, and Beekman's now has no active business operations.  As a 
result of the disposal of assets of the final two operations as 
described above, after recognition of substantial earlier losses and a 
writedown of the carrying value of the assets of this venture in 1997 
for book purposes, the Registrant realized a nominal gain from the sale 
of assets, and that gain is reflected in the item captioned "gains on 
disposal of food operations" under discontinued operations for both the 
first nine months of 1998 and the third quarter of 1998.

Under nonoperating income, revenue from investment income was down 
approximately 26% in the first nine months of 1998 from the first nine 
months of 1997, and also was significantly lower in the third quarter of 
1998 than in the third quarter of 1997.  These fluctuations are 
basically due to variations in rate of return on temporary fixed income 
investments and somewhat lower capital gains income in the current 
periods under comparison.  Additionally, there was increased income from 
gains on sales of real estate in the first nine months of 1998 over the 
first nine months of 1997 and also in the third quarter of 1998 over the 
third quarter of 1997 due to more surface land being sold in the current 
periods than in the previous periods under comparison.

General and administrative expenses were down approximately 18% in the 
first nine months of 1998 from the first nine months of 1997 but were up 
slightly in the third quarter of 1998 over the third quarter of 1997.  
The decrease in the year-to-date amount reflects reduced payments to 
outside service providers, particularly in connection with the operation 
of the bagel and delicatessen business, and reduced state franchise tax 
expenses which are components of this expense item.  The increase in the 
third quarter of 1998 over the same period in 1997 was due somewhat to 
increased rental on the Registrant's general office facility in Kansas 
City, Missouri.

Income taxes were lower in the 1998 periods than in the 1997 periods as 
a result of decreased earnings before income taxes.

In 1997, the Financial Accounting Standards Board issued Statement No. 
130, Reporting Comprehensive Income, effective for the period beginning 
January 1, 1998.  The effect of the application of this statement is 
explained in note 1 to the accompanying consolidated financial 
statements.

<PAGE>


ITEM 2.  MANAGEMENT'S DISCUSSION AND ANALYSIS OF
FINANCIAL CONDITION AND RESULTS OF OPERATIONS, Continued


Cash flows increased in the first nine months of 1998 and also in the 
first nine months of 1997, but the increase was significantly greater in 
the first nine months of 1997.  Significant components of the increase 
of net cash and cash equivalents include gain on sale of assets of the 
subsidiary as described above and additional gains on sale of real 
estate and differences in the amount of proceeds from matured/called 
investment debt securities which were reinvested, and the timing of 
purchases and sales of equity securities during the respective periods, 
partially offset by an increase of liabilities for deferred oil lease 
bonuses.  Also, there were treasury stock purchases during the 1997 
period and no such purchases during the 1998 period.

During the first quarter of 1998, the Company's Board of Directors 
declared a cash dividend of $.50 per share which was paid on May 1, 
1998.  A dividend in the same amount was paid on May 1, 1997.  An 
additional dividend of $1.00 per share was declared in September of 1997 
and paid in November of 1997 for total dividends in 1997 of $1.50.  The 
Registrant's Board of Directors determined in September of 1998 not to 
declare a dividend payable in November as in the prior year, due to 
decreased earnings this year and a desire to retain liquidity for future 
internal capital growth.

As the year 2000 approaches, issues have emerged regarding how existing 
computer application software programs and operating systems can 
accommodate this date because certain computer programs being utilized 
use two digits rather than four digits to define the applicable year.  
As a result, it is possible that computer programs that have date 
sensitive software may recognize a date using "00" as the year 1900 
rather than the year 2000, which in turn, could result in system failure 
or miscalculations causing disruptions to the operation of the business 
of the Registrant or its suppliers and customers.  Management of the 
Registrant is confident that its state of readiness with respect to this 
matter is high.  The Registrant utilizes only one stand-alone personal 
computer in the administration of its business operations and internal 
accounting, and it is not anticipated that any significant modifications 
or upgrades will be necessary to its existing computer hardware or 
software.  However, the cost to address the Registrant's own Year 2000 
issues would not be material even if it would become necessary to 
replace the entire hardware and software currently utilized, as this 
could be done for less than $5,000.  However, the Registrant has 
relationships with third parties that utilize computer systems that may 
not be Year 2000 compliant.  Thus, there is a possible risk that to the 
extent such third parties' systems are not fully Year 2000 compliant, 
there could be potential systems interruptions causing disruptions in 
operations of such third parties which could, in turn, affect normal 
business activities of the Registrant.  Given the nature of the 
Registrant's business activities, management does not anticipate that 
there will be nay such potential systems interruptions of third parties 
which would create a material adverse effect on the Registrant's 
business, financial condition, results of operation or business 
prospects.  The foregoing may constitute "forward-looking statements" 
about matters that are inherently difficult to predict.  These 
statements include statements regarding the intent, belief or current 
expectations of the Registrant and its management.  Some of the 
important factors that affect these statements have been described 
above, but such forward-looking statements involve risks and 
uncertainties that may possibly affect future developments, such as the 
ability to deal with the Year 2000 problems experienced by third parties 
with whom the Registrant does business and over which it has no control.  
If modifications and conversions required by third parties to make their 
computer systems Year 2000 compliant are not made or are not completed 
on a timely basis, the resulting problems could have a material impact 
on the operations of the Registrant, even though not presently 
anticipated.  The Registrant has not, to date, implemented a Year 2000 
Contingency Plan.  As reported above, it is not anticipated that 
compliance will create any systems interruptions or material cost to the 
Registrant.  If conditions develop as a result of failure of third 
parties to be Year 2000 compliant on a timely basis, the Registrant may 
hereafter need to develop a Contingency Plan, such as changing third 
parties with whom it does business, but that is not currently 
contemplated.

<PAGE>


ITEM 2.  MANAGEMENT'S DISCUSSION AND ANALYSIS OF
FINANCIAL CONDITION AND RESULTS OF OPERATIONS, Continued


The Registrant has no specific commitment for material capital 
expenditures at the present time.  Management continues to actively 
pursue other business opportunities which will result in a more 
productive deployment of its assets and ultimately increase earnings.  
Management continues to aggressively pursue development of increased 
income from its oil and gas and coal properties and continues to attempt 
to lease more of its mineral properties in order to generate additional 
rental, bonus and royalty income.

Statement of Financial Accounting Standards No. 133, Accounting for 
Derivative Instruments and Hedging Activities, (Statement 133) was 
issued by the Financial Accounting Standards Board in June 1998.  
Statement 133 standardizes the accounting for derivative instruments.  
Under the standard, entities are required to carry all derivative 
instruments in the statement of financial position at fair value.  The 
Registrant must adopt Statement 133 by January 1, 2000; however, early 
adoption is permitted.  On adoption, the provisions of Statement 133 
must be applied prospectively.  The Registrant anticipates that the 
adoption of Statement 133 will not have a material impact in the 
Registrant's consolidated financial statements.

<PAGE>



PART II - OTHER INFORMATION


Item 1.   Legal Proceedings - None

Item 2.   Changes in Securities - None

Item 3.   Defaults Upon Senior Securities - None

Item 4.   Submission of Matters to a Vote of Security Holders - None

Item 5.   Other Information - Attached

Item 6.   Exhibits and Reports on Form 8-K - None

<PAGE>

CENTRAL COAL & COKE CORPORATION


Form 10-Q
Item 5, Other Information

  (A) Change of Directors.  S.M. "Slim" Riddle, who served as a Director 
      of the Registrant since 1975 and also served as Secretary, passed 
      away on August 24, 1998.  The Board of Directors elected Gary J. 
      Pennington, General Manager of the Registrant, to fill the vacancy 
      as Director occasioned by Mr. Riddle's death.  The Board elected 
      Ernest N. Yarnevich, Jr. as Secretary of the Registrant filling 
      the vacancy in that office occasioned by Mr. Riddle's death.

  (B) Disposition of Assets.  A majority-owned subsidiary of the 
      Registrant disposed of the assets of its fast food bagel and 
      delicatessen business as described in more detail in Management's 
      Discussion & Analysis of Financial Condition and Results of 
      Operations.  The financial effect of such disposition is reflected 
      in the consolidated financial statements of earnings and retained 
      earnings and is described in footnote 3 to such financial 
      statements.  This disposition of assets does not constitute the 
      disposition of a significant amount of assets.

<PAGE>



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.


        CENTRAL COAL & COKE CORPORATION
                (Registrant)


Date:    November 13, 1998
         ______________________________

By:      /s/ Gary J. Pennington
         ______________________________
               Gary J. Pennington,
              Assistant Secretary-
           General Manager, Principal
        Financial and Accounting Officer



Date:    November 13, 1998
         ______________________________

By:      /s/ Leonard L. Noah
         ______________________________
                 Leonard L. Noah,
            Vice President, Treasurer