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                   Commission File No.
  July 31, 1998                            0-10146
---------------------                   -------------------


                     ABRAMS INDUSTRIES, INC.
      -----------------------------------------------------
      (Exact name of Registrant as specified in its charter)


          Georgia                             58-0522129
-------------------------------    ------------------------------------
(State or other jurisdiction of    (I.R.S. Employer Identification No.)
incorporation or organization)


 1945 The Exchange, Suite 300, Atlanta, Georgia       30339
 ----------------------------------------------    ----------
    (Address of principal executive offices)       (Zip Code)

                          (770) 953-0304
      ----------------------------------------------------
      (Registrant's telephone number, including area code)

                               N/A
 ---------------------------------------------------------------
 (Former name, former address and former fiscal year, if changed
                        since last report)


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 of $1.00 par value Common Stock of the
Registrant outstanding as of August 31, 1998 was 2,936,356.
<PAGE>
<PAGE>
                                 PART 1. FINANCIAL INFORMATION

ITEM 1. FINANCIAL STATEMENTS
----------------------------

                                     ABRAMS INDUSTRIES, INC.
                                  CONSOLIDATED BALANCE SHEETS
                                          (UNAUDITED)
<TABLE>
<CAPTION>
                                                    July 31, 1998   April 30, 1998
                                                    -------------   --------------
<S>                                                 <C>             <C>
ASSETS
------
CURRENT ASSETS
    Cash and cash equivalents                       $  4,956,278     $ 13,240,471 
    Receivables                                       28,128,368       21,275,284 
          Less: Allowance for doubtful accounts         (101,047)        (130,040)
    Inventories, net                                   1,755,972        1,495,063 
    Costs and earnings in excess of billings           4,099,134        5,637,599 
    Property held for sale                             5,214,897        1,691,764 
    Deferred income taxes                                848,939          848,939 
    Other                                              1,169,751          614,244 
                                                    ------------     ------------
        Total current assets                          46,072,292       44,673,324 
                                                    ------------     ------------

INCOME-PRODUCING PROPERTIES, net                      53,244,699       57,262,540 
PROPERTY, PLANT AND EQUIPMENT, net                    11,778,762        9,856,619 
LAND HELD FOR FUTURE DEVELOPMENT OR SALE               4,237,845        4,237,845 
OTHER ASSETS
    Notes receivable                                     389,242          415,538 
    Cash surrender value of life insurance on
       officers, net                                   1,308,290        1,282,790 
    Deferred loan costs, net                             813,220          814,405 
    Other                                              3,001,627        2,766,383 
                                                    ------------     ------------
                                                    $120,845,977     $121,309,444
                                                    ============     ============

LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------
CURRENT LIABILITIES
    Trade and subcontractors payables               $ 22,653,452     $ 19,445,101 
    Billings in excess of costs and earnings           2,159,346        1,369,148 
    Accrued expenses                                   3,033,622        6,989,911 
    Current maturities of long-term debt               6,811,699        1,586,133 
                                                    ------------     ------------
        Total current liabilities                     34,658,119       29,390,293 
                                                    ------------     ------------

DEFERRED INCOME TAXES                                  3,018,429        3,018,429 
OTHER LIABILITIES                                      1,580,970        1,426,052 
MORTGAGE NOTES PAYABLE, less current maturities       27,993,259       33,433,945 
OTHER LONG-TERM DEBT, less current maturities         29,513,172       29,504,862 
                                                    ------------     ------------
        Total liabilities                             96,763,949       96,773,581 
                                                    ------------     ------------
<PAGE>
SHAREHOLDERS' EQUITY
    Common stock, $1 par value; authorized
      5,000,000 shares; 3,014,039 issued and
      2,936,356 outstanding                            3,014,039        3,014,039 
    Additional paid-in capital                         2,019,690        2,019,690 
    Retained earnings                                 19,460,850       19,914,685 
                                                    ------------     ------------
                                                      24,494,579       24,948,414 
         Less cost of treasury stock                     412,551          412,551 
                                                    ------------     ------------
      Total shareholders' equity                      24,082,028       24,535,863 
                                                    ------------     ------------
                                                    $120,845,977     $121,309,444
                                                    ============     ============
</TABLE>
See accompanying notes to consolidated financial statements.


                                     1<PAGE>
<PAGE>
                                     ABRAMS INDUSTRIES, INC.
                              CONSOLIDATED STATEMENTS OF OPERATIONS
                                             (UNAUDITED)
<TABLE>
<CAPTION>
                                                                      FIRST QUARTER ENDED
                                                                            JULY 31,
                                                                 --------------------------------
                                                                     1998                1997
                                                                 -----------         ------------
 <S>                                                             <C>                 <C>
 REVENUES
     Construction                                                $47,152,931         $38,397,378
     Manufacturing                                                 2,532,136           3,316,333
     Real estate                                                   3,269,997           3,415,816
                                                                 ------------        -----------
                                                                  52,955,064          45,129,527
         Less: Intersegment eliminations                          (1,214,257)            -
                                                                 -----------         -----------
                                                                  51,740,807          45,129,527
     Interest                                                        152,426             118,693
     Other                                                            10,706              11,099
                                                                 -----------         -----------
                                                                  51,903,939          45,259,319
                                                                 -----------         -----------
 COSTS AND EXPENSES
    Applicable to REVENUES--
      Construction                                                45,250,251          36,938,279
      Manufacturing                                                2,533,132           2,514,231
      Real estate, exclusive of interest                           1,754,390           1,779,414
                                                                 -----------         -----------
                                                                  49,537,773          41,231,924
         Less: Intersegment eliminations                          (1,170,374)            -
                                                                 -----------         -----------
                                                                  48,367,399          41,231,924
                                                                 -----------         -----------
     Selling, shipping, general and administrative 
      Construction                                                   912,215             699,308
      Manufacturing                                                1,032,731             978,480
      Real estate                                                    639,575             532,954
      Parent                                                         534,434             553,535
                                                                 -----------         -----------
                                                                   3,118,955           2,764,277
         Less: Intersegment eliminations                            (362,619)            -
                                                                 -----------         -----------
                                                                   2,756,336           2,764,277
                                                                 -----------         -----------
     Interest costs incurred, less interest capitalized            1,263,219           1,091,323
                                                                 -----------         -----------
                                                                  52,386,954          45,087,524
                                                                 -----------         -----------
 EARNINGS (LOSS) BEFORE INCOME TAXES                                (483,015)            171,795

 INCOME TAX EXPENSE (BENEFIT)                                       (176,000)             71,000
                                                                 -----------         -----------
 NET EARNINGS (LOSS)                                             $  (307,015)        $   100,795
                                                                 ===========         ===========
 NET EARNINGS (LOSS) PER SHARE -- BASIC AND DILUTED              $     (0.10)        $       .03
                                                                 ===========         ===========
 DIVIDENDS PER SHARE                                             $       .05         $       .07
                                                                 ===========         ===========
 WEIGHTED AVERAGE SHARES OUTSTANDING                               2,936,356           2,940,445
                                                                 ===========         ===========
</TABLE>

 See accompanying notes to consolidated financial statements.

                                     2<PAGE>
<PAGE>
<TABLE>
<CAPTION>

                                                   ABRAMS INDUSTRIES, INC.
                                            CONSOLIDATED STATEMENTS OF CASH FLOWS
                                                         (UNAUDITED)

                                                                                          FIRST QUARTER ENDED JULY 31,
                                                                                 -------------------------------------------
                                                                                      1998                         1997
                                                                                 -------------                 -------------
 <S>                                                                             <C>                           <C>
 Cash flows from operating activities
     Net earnings (loss)                                                         $   (307,015)                 $    100,795
     Adjustments to reconcile net earnings (loss) to net cash
       used in operating activities
         Depreciation and amortization                                                780,725                       703,304 
         Gain on sales of real estate                                                    -                         (360,604)
         Decrease (increase) in assets
             Receivables                                                           (6,882,077)                   (3,911,842)
             Inventories                                                             (260,909)                      (20,315)
             Costs and earnings in excess of billings                               1,538,465                    (3,176,374)
             Other current assets                                                    (555,507)                     (422,668)
             Other assets                                                            (250,896)                     (278,243)
        Increase (decrease) in liabilities
             Accounts payable                                                       3,208,351                     8,184,913
             Billings in excess of costs and earnings                                 790,198                       763,644
             Accrued expenses                                                      (3,956,290)                   (3,432,216)
             Other liabilities                                                        154,917                       193,060
                                                                                 ------------                  ------------
       Net cash used in operating activities                                       (5,740,038)                   (1,656,546)
                                                                                 ------------                  ------------
 Cash flows from investing activities
     Proceeds from sales of real estate                                                  -                          770,000 
     Additions to properties, property, plant and equipment, net                   (2,161,963)                     (228,195)
                                                                                 ------------                  ------------
       Net cash provided by (used in) investing activities                         (2,161,963)                      541,805
                                                                                 ------------                  ------------
 Cash flows from financing activities
     Debt proceeds                                                                    380,472                          - 
     Debt repayments                                                                 (587,285)                     (364,817)
     Additions to deferred loan costs                                                 (28,561)                      (88,740)
     Cash dividends                                                                  (146,818)                     (205,957)
     Proceeds from exercise of stock options                                             -                           11,500
                                                                                 ------------                  ------------
       Net cash used in financing activities                                         (382,192)                     (648,014)
                                                                                 ------------                  ------------
 Net decrease in cash and cash equivalents                                         (8,284,193)                   (1,762,755)

 Cash and cash equivalents at beginning of period                                  13,240,471                     7,611,051
                                                                                 ------------                  ------------
 Cash and cash equivalents at end of period                                      $  4,956,278                  $  5,848,296
                                                                                 ============                  ============
 Supplemental schedule of cash flow information
     Interest paid, net of amounts capitalized                                   $  1,342,256                  $  1,093,232
                                                                                 ============                  ============
     Income taxes paid, net of refunds                                           $    116,101                  $    470,642
                                                                                 ============                  ============
</TABLE>
 See accompanying notes to consolidated financial statements.
                                     3<PAGE>
<PAGE>
                     ABRAMS INDUSTRIES, INC.
             NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                 JULY 31, 1998 AND APRIL 30, 1998
                           (UNAUDITED)

NOTE 1.  UNAUDITED STATEMENTS
-----------------------------

     The accompanying unaudited consolidated financial statements
have been prepared by the Company in accordance with generally
accepted accounting principles, pursuant to the rules and
regulations of the Securities and Exchange Commission.  Certain
information and footnote disclosures normally included in
financial statements have been condensed or omitted pursuant to
such rules and regulations, although management  believes that
the disclosures are adequate to make the information presented
not misleading.  In the opinion of management, the accompanying
financial statements contain all adjustments, which consist
solely of normal recurring accruals, necessary for a fair
statement of the results for the interim periods presented. 
These financial statements should be read in conjunction with the
consolidated financial statements and the notes thereto included
in the Company's Annual Report to Shareholders for the year ended
April 30, 1998.  Results of operations for interim periods are
not necessarily indicative of annual results.

NOTE 2.  RECEIVABLES
--------------------

     All contract and trade receivables are expected to be
collected within one year.

NOTE 3.  INVENTORIES
--------------------

     The classes of inventory are as follows:

                                              July 31, 1998      April 30, 1998
                                              -------------      --------------
             Finished goods                   $   750,093         $   787,520
             Work in process                      346,071             219,802
             Raw materials                        659,808             487,741
                                              -----------         -----------
                                              $ 1,755,972         $ 1,495,063
                                              ===========         ===========

NOTE 4.  STATEMENT OF FINANCIAL ACCOUTING STANDARDS NO. 130, 
------------------------------------------------------------
REPORTING COMPREHENSIVE INCOME
------------------------------

On May 1, 1998, the Company adopted the provisions of Statement
of Financial Accounting Standards ("SFAS") No. 130, REPORTING
COMPREHENSIVE INCOME.  This Statement establishes standards for
reporting and display of comprehensive income and its components
in a full set of general purpose financial statements.  The term
"comprehensive income" is used in SFAS 130 to describe the total
of all components of  comprehensive income including net income.
"Other comprehensive income" refers to revenues, expenses, gains,
and losses that are included in comprehensive income but excluded
from earnings under current accounting standards.  The Company
has no "other comprehensive income" to report for the quarters
ended July 31, 1997 and 1998.

                                 4<PAGE>
ITEM 2.  MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL
----------------------------------------------------------
CONDITION AND RESULTS OF OPERATIONS.
------------------------------------

Changes in CONSOLIDATED BALANCE SHEETS between April 30, 1998,
--------------------------------------------------------------
and July 31, 1998.
-----------------

    Accounts receivable increased by $6,853,084 and Trade and
subcontractors payable increased by $3,208,351 primarily because
of the timing of the submission and payment of invoices for
construction work performed and increased construction activity. 

    Property held for sale increased $3,523,133 as a result of
the reclassification of the net book value of a shopping center
in Newnan, Georgia.  This property was classified as Income-
producing property at April 30, 1998, and was reclassified in
July 1998, as the property is currently being marketed for sale.
The property is expected to be sold for a gain.

     Income-producing properties decreased by $4,017,841
primarily as a result of the reclassification of the net book
value of the shopping center in Newnan, Georgia to Property held
for sale as discussed above.

    Property, plant and equipment increased by $1,922,143,
primarily through additional costs related to the substantial
completion of constructing and equipping the Company's new
manufacturing facility. 

    Accrued expenses decreased by $3,956,289 because of the
payment of year-end accruals.

    Current maturities of long-term debt increased by $5,225,566,
and Mortgage notes payable decreased by $5,440,686, primarily as
a result of the reclassification of the Newnan, Georgia shopping
center mortgage to Current maturities of long-term debt.  The
center is being held for sale as discussed above. 


Results of operations of the first quarter of fiscal 1999
---------------------------------------------------------
compared to the first quarter of fiscal 1998.
---------------------------------------------

                             REVENUES

    For the first quarter 1999, Consolidated REVENUES, including
Interest income and Other income and net of intersegment
eliminations, were $51,903,939, compared to $45,259,319 for the
first quarter 1998, an increase of 15%.

    The figures in Chart A are Segment revenues before
Intersegment eliminations and do not include Interest income or
Other income.

                                 5<PAGE>
                                               CHART A
                                      REVENUE SUMMARY BY SEGMENT


                             First Quarter Ended
                                    July 31,            Amount       Percent 
                          --------------------------   Increase     Increase
                              1998           1997      (Decrease)   (Decrease)
                          -----------    -----------   ----------   ----------
 Construction <F1>        $47,152,931    $38,397,378   $8,755,553       23
 Manufacturing <F2>         2,532,136      3,316,333     (784,197)     (24)
 Real Estate <F3>           3,269,997      3,415,816     (145,819)      (4)
                          -----------    -----------   ----------
                          $52,955,064    $45,129,527   $7,825,537       17
                          ===========    ===========   ==========


                         NOTES TO CHART A
                         ----------------
[FN]
<F1>REVENUES for the first quarter of fiscal year 1999 were higher
    than those of the first quarter of fiscal year 1998 because
    of an increase in sales to existing customers and sales to
    new customers.

<F2>REVENUES for the first quarter 1999 were lower than those of
    the first quarter 1998 primarily because of decreased orders
    from two major customers. 

<F3>REVENUES for the first quarter 1999 were slightly lower
    than those of the first quarter 1998.  The first quarter 1998
    included a real estate sale of $770,000. There were no real
    estate sales in the first quarter of 1999.  The first quarter
    1999 had an increase in rental revenues of $624,181 over
    those of first quarter 1998. 
</FN>

    The following table indicates the backlog of contracts,
orders and expected rentals for the next twelve months by
industry segment:

                                                     July 31,
                                       -----------------------------------
                                             1998                 1997
                                       --------------        -------------
     Construction                      $   50,481,000        $  41,039,000
     Manufacturing                          4,180,000            8,405,000
     Real Estate <F1>                      10,278,000           18,400,000
                                       --------------        -------------
          Total Backlog                $   64,939,000        $  67,844,000
                                       ==============        =============
[FN]
<F1> The Real Estate Segment's backlog at July 31, 1997 includes $9,307,000
     for sales of properties that were under contract.  At July 31, 1998, there
     are no properties under contract for sale in the backlog.
</FN>
           COSTS AND EXPENSES:  Applicable to REVENUES

    As a percentage of Segment REVENUES (See Chart A) for the
first quarters of fiscal year 1999 and 1998, the applicable COSTS
AND EXPENSES (See Chart B) were 94% and 91%, respectively. 

      The figures in Chart B are prior to Intersegment
eliminations.  
                               6<PAGE>
                                              CHART B

                 COSTS AND EXPENSES APPLICABLE TO REVENUES SUMMARY BY SEGMENT
<TABLE>
<CAPTION>
                                                      Percent of Segment Revenues
                               First Quarter Ended      For First Quarter Ended
                                      July 31,                  July 31,
                           -------------------------   --------------------------
                               1998          1997          1998           1997
                           -------------------------   --------------------------
 <S>                       <C>           <C>                <C>            <C>
 Construction              $45,250,251   $36,938,279        96             96
 Manufacturing <F1>          2,533,132     2,514,231       100             76 
 Real Estate                 1,754,390     1,779,414        54             52 
                           -----------   -----------
                           $49,537,773   $41,231,924        94             91 
                           ===========   ===========
</TABLE>

                       NOTES TO CHART B
                       ----------------
[FN]
<F1>The increase in the percentage of COSTS AND EXPENSES: Applicable
    to REVENUES for the first quarter 1999 compared to the first
    quarter 1998 was a result of (a) the temporary disruption of
    the segment's normal manufacturing efficiencies caused by the
    relocation to a new facility during the period and (b) a
    change in the product mix of fixtures sold.
</FN>


      SELLING, SHIPPING, GENERAL AND ADMINISTRATIVE EXPENSES

    For the first quarter 1999 and the first quarter 1998,
Selling, shipping, general and administrative expenses, prior to
intersegment eliminations, were $3,118,955 and $2,764,277,
respectively.  As a percentage of Consolidated REVENUES, these
expenses were 6% for both periods.  In reviewing Chart C, the
reader should recognize that the volume of revenues generally
will affect the amounts and percentages.  The percentages in
Chart C are based upon expenses as they relate to Segment
REVENUES (Chart A) prior to Intersegment eliminations, except
that Parent and Total expenses relate to Consolidated REVENUES.

                              7
<PAGE>

                                             CHART C
              SELLING, SHIPPING, GENERAL AND ADMINISTRATIVE EXPENSES BY SEGMENT
<TABLE>
<CAPTION>
                                                       Percent of Segment Revenues
                              First Quarter Ended        For First Quarter Ended
                                   July 31,                     July 31,
                           ------------------------     --------------------------
                              1998          1997          1998            1997
                           ------------------------     --------------------------
 <S>                       <C>           <C>               <C>             <C>
 Construction              $  912,215    $  699,308         2               2
 Manufacturing <F1>         1,032,731       978,480        41              30 
 Real Estate                  639,575       532,954        20              16 
 Parent                       534,434       553,535         1               1 
                           ----------    ----------
                           $3,118,955    $2,764,277         6               6
                           ==========    ==========
</TABLE>

                         NOTES TO CHART C
                         ----------------
[FN]
<F1>On a percentage basis, Selling, shipping, general and
    administrative expenses were higher for the first quarter
    1999 compared to the first quarter 1998 primarily because of
    expenses incurred in moving to the new facility.
</FN>

Liquidity and capital resources.
-------------------------------

    Between April 30, 1998, and July 31, 1998, working capital
decreased by $3,868,858.  Operating activities used cash of
$5,740,038, principally as a result of the increase in
receivables.  Investing activities used cash of $2,161,963,
primarily for additional costs related to constructing and
equipping the new manufacturing facility.  Financing activities
used cash of $382,192 for debt repayment and payment of dividends
to shareholders. At July 31, 1998, the Company and its
subsidiaries had unsecured committed lines of credit totaling
$7,000,000, of which $6,500,000 was available and $500,000 was
reserved for a letter of credit issued as security for a mortgage
loan on an Income-producing property. The letter of credit has
been extended until August 1999 at which time it will be used to
pay down the mortgage if certain leasing requirements are not
attained. In addition, the Company had a committed line of credit
totaling $2,500,000, secured by the Manufacturing Segment's
inventory and receivables, of which none was outstanding.

Year 2000
---------

    Management has undertaken a program to prepare the Company's
financial and operating computer systems and ancillary systems
for the year 2000.  The Company has reviewed its computer systems
and has determined that most of its systems are year 2000
compliant.  Where replacement or reprogramming has been found to
be necessary, the Company is either currently making those
changes or has plans to make the changes in the near future.  The
Company's cost of becoming year 2000 compliant is not expected to
be material.

                                8<PAGE>
ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET
-------------------------------------------------------------
RISK.
-----
Not applicable.

                   PART II.  OTHER INFORMATION

ITEM 6.  EXHIBITS AND REPORTS ON FORM 8-K
-----------------------------------------

         (a)  Exhibit 27 - Financial Data Schedule (For SEC use only)
         (b)  The Registrant has not filed any reports on form 8-K during the
              quarter ended July 31, 1998.


                               8

<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.


                                             ABRAMS INDUSTRIES, INC.
                                             -----------------------
                                                (Registrant)


Date: September 10, 1998                      /s/ Joseph H. Rubin
      ------------------                     ------------------------
                                             Joseph H. Rubin
                                             Chief Executive Officer



Date: September 10, 1998                      /s/ Melinda S. Garrett
      ------------------                     -----------------------
                                             Melinda S. Garrett
                                             Chief Financial Officer