U.S. SECURITIES AND EXCHANGE COMMISSION
                     WASHINGTON, D.C.  20549


                           FORM 10-QSB



[X]  QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
     SECURITIES EXCHANGE ACT OF 1934

     FOR THE QUARTERLY PERIOD ENDED:  June 30, 1998

                               OR

[ ]  TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
     SECURITIES EXCHANGE ACT OF 1934

                COMMISSION FILE NUMBER:  33-93994


                     FIRST AMERICAN CLOCK CO.  
     (Exact name of registrant as specified in its charter)


      NEVADA                                       87-0543565 
(State or other jurisdiction                 (I.R.S. Employer
of incorporation or organization)            Identification No.)


                    3211 South Highland Drive
                    Salt Lake City, Utah 84106  
            (Address of principal executive offices)

                          (801) 484-8680      
      (Registrant's telephone number, including area code)


Check whether the issuer (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 report(s), and (2)
has been subject to such filing requirements for the past 90
days.

YES [X]   NO [ ]     

The number of $.001 par value common shares outstanding at June
30, 1998:  908,300

<PAGE>
                 PART I - FINANCIAL INFORMATION


Item 1.   Financial Statements

                           FIRST AMERICAN CLOCK CO.
                         (A Development Stage Company)

                            CONDENSED BALANCE SHEET

                                    ASSETS
                                                   June 30, December 31,
                                                      1998      1997
                                                   ------------------
                                                   (Unaudited)
CURRENT ASSETS:
 Cash in bank                                           $162     $291
 Prepaid expenses                                        280        0
                                                   ------------------
  Total Current Assets                                   442      291
                                                   --------- --------
OTHER ASSETS:
 Investment in clocks                                 33,500   33,500
 Organization costs, net of amortization of              487      587
  $513 and $413
                                                   --------- --------
  Total Other Assets                                  33,987   34,087
                                                   --------- --------
TOTAL ASSETS                                         $34,429  $34,378
                                                   ========= ========
LIABILITIES AND STOCKHOLDERS' EQUITY

CURRENT LIABILITIES:
 Accounts payable                                         $0      $62
 Franchise tax payable                                     0      100
 Accrued interest payable                                177       78
 Refund due customer                                   3,350    3,350
 Stockholder advances                                  5,350    2,250
                                                   ------------------
  Total Current Liabilities                            8,877    5,840
                                                   --------- --------
STOCKHOLDERS' EQUITY:
 Preferred stock; $.001 par value, 5,000,000 shares 
  authorized, no shares issued and outstanding             0        0
 Common stock; $.001 par value, 50,000,000 shares
  authorized, 908,300 and 908,300 shares issued          908      908
  and outstanding respectively
 Capital in excess of par value                       45,753   45,753
 Earnings (deficit) accumulated during the           (21,109) (18,123)
  development stage
                                                   --------- --------
  Total Stockholders' Equity                          25,552   28,538
                                                   --------- --------
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY           $34,429  $34,378
                                                   ========= ========

                  See Notes to Condensed Financial Statements

<PAGE>
                           FIRST AMERICAN CLOCK CO.
                         (A Development Stage Company)

                       CONDENSED STATEMENT OF OPERATIONS
                                  (Unaudited)

                           For the Three   For the Six    Cumulative
                           Months Ended    Months Ended   During the
                           June 30,        June 30,       Development
                            1998    1997    1998    1997   Stage
                           ---------------------------------------
REVENUE
 Clock sales                    $0      $0      $0  $5,500      $0
 Costs of goods sold             0       0       0  (4,500)      0
                           ---------------------------------------
  Total revenues                 0       0       0   1,000       0
                           ---------------------------------------
EXPENSES
 Interest                       66      15      99      30     177
 Bank charges                   17      16      34      30     322
 Professional fees           2,555     625   2,555   2,882   8,948
 Amortization expense           50      50     100     100     512
 Other fees                    135      85     198     420   1,525
 Travel                          0       0       0       0     719
 Investment write-down           0       0       0       0   9,000
                           ---------------------------------------
  Total expenses             2,823     791   2,986   3,462  21,203
                           --------------- -----------------------
OPERATING INCOME (LOSS)     (2,823)   (791) (2,986) (2,462)(21,203)

OTHER INCOME (EXPENSE)
 Interest                        0       0       0       0      94
                           --------------- -----------------------
NET INCOME (LOSS)         $(2,823) $(791) $(2,986)$(2,462)$(21,109)
                           =============== =======================

EARNINGS (LOSS) PER SHARE   $0.00  $0.00    $0.00   $0.00    $0.02
                           =============== =======================

                  See Notes to Condensed Financial Statements

<PAGE>
                           FIRST AMERICAN CLOCK CO.
                         (A Development Stage Company)

                       CONDENSED STATEMENT OF CASH FLOWS
                                  (Unaudited)

                                     For the Three  For the Six   Cumulative
                                     Months Ended   Months Ended  During the
                                       June 30,       June 30,   Development
                                     1998   1997    1998   1997   Stage
INCREASE (DECREASE) IN CASH

CASH FLOWS FROM OPERATING ACTIVITIES                     
 Sales                                  $0    $600      $0  $2,600       $0
 Deposit due customer                    0       0               0    3,350
 Interest income                         0       0       0       0       94
 Bank charges                          (17)      0     (34)    (14)    (323)
 Cash paid for organization         (3,070) (1,101) (3,195) (2,943) (12,470)
  expense, supplies and services
                                      -------------------------------------
  Net Cash Provided (Used) by       (3,087)   (501) (3,229)   (357)  (9,349)
   Operating Activities
                                      -------------- ----------------------
CASH FLOWS FROM INVESTING ACTIVITIES
 Investment in clocks                    0       0       0       0  (42,500)
                                      -------------- ----------------------
  Net Cash (Used) by Investing           0       0       0       0  (42,500)
   Activities                                  
                                      -------------- ----------------------
CASH FLOWS FROM FINANCING ACTIVITIES
 Sale of common stock                    0       0       0       0   62,150
 Deferred offering costs                 0       0       0       0  (15,489)
 Stockholder advances                3,100       0   3,100       0    5,350
                                      -------------- ----------------------
  Net Cash Provided by Financing     3,100       0   3,100       0   52,011
   Activities
                                      -------------- ----------------------
NET INCREASE (DECREASE) IN CASH         13    (501)   (129)   (357)     162

CASH  -  BEGINNING OF PERIOD           149     554     291     410        0
                                      -------------- ----------------------
CASH  -  END OF PERIOD                $162     $53    $162     $53     $162
                                      =====================================
RECONCILIATION OF NET INCOME TO 
NET CASH PROVIDED (USED) BY 
OPERATING ACTIVITIES

NET INCOME (LOSS)                 $(2,823)  $(791) $(2,986) $(2,462) $(21,109)
                                        -------------- ----------------------
Adjustments to reconcile net income 
(loss) to net cash provided (used) 
by operating activities  
 Amortization                          50      50      100      100       513
 Investment write-down                  0       0        0        0     9,000
 Change in assets and liabilities
  Pre-paid expense                   (280)      0     (280)       0      (280)
  Inventory costs                       0       0        0    4,500         0
  Organization costs                    0       0        0        0    (1,000)
  Account receivable                    0     600        0   (2,900)        0
  Accrued interest payable             66      15       99       30       177
  Accounts payable and franchise     (100)   (375)    (162)     375         0
   tax payable                        
  Refund due customer                   0       0        0        0     3,350
                                        -------------------------------------
   Total Adjustments                 (264)    290     (243)   2,105    11,760
                                        -------------- ----------------------
NET CASH (USED) BY OPERATING      $(3,087)  $(501)  $(3,229)  $(357)  $(9,349)
 ACTIVITIES

                  See Notes to Condensed Financial Statements



<PAGE>
                                  
                                  
                      FIRST AMERICAN CLOCK CO.
                   (A DEVELOPMENT STAGE COMPANY)
                                  
              NOTES TO UNAUDITED FINANCIAL STATEMENTS
                                  
  NOTE 1  -  CONDENSED FINANCIAL STATEMENTS
  
       The Company, without audit, has prepared the accompanying
       financial statements.  In the opinion of management, all
       adjustments (which include only normal recurring adjustments)
       necessary to present fairly the financial position, results of
       operation and cash flows at June 30, 1998 and 1997 and for all
       periods presented have been made. 
       
       Certain information and footnote disclosures normally included in
       financial statements prepared in accordance with generally
       accepted accounting principles have been condensed or omitted.  It
       is suggested that these condensed financial statements be read in
       conjunction with the financial statements and notes thereto
       included in the Company's December 31, 1997 audited financial
       statements.  The results of operations for the periods ended June
       30, 1998 and 1997 are not necessarily indicative of the operating
       results for the full year.
<PAGE>
Item 2:  Management's Discussion & Analysis or Plan of Operations

     The Company was incorporated on May 17, 1995.  The Company
has not yet generated any significant revenues from operations
and is considered a development stage company.  To date,
activities have been limited to organizational matters, the
preparation and filing of a registration statement to register a
public offering of its securities, pursuant to which the Company
offered and sold 108,300 shares of common stock and raised gross
proceeds of $54,150, the closing of such offering and the
acquisition of initial inventory and commencement of limited
operations.  The Company has no significant assets other than the
inventory initially acquired with the net proceeds from the
offering. 

     The Company used most of the net proceeds from the offering
to acquire antique, museum quality clocks, watches and other
timepieces for resale.  A portion of the proceeds was also used
to provide initial working capital for the commencement of
operations of the Company's business.  Management's plan of
operation for the next twelve months is to attempt to arrange
suitable resales of the existing inventory to generate revenues
from operations and provide sufficient proceeds to acquire
additonal items of inventory.  The Company was formed to engage
in the business of retailing and/or wholesaling unusual and
unique timepieces of museum quality.  The Company has acquired
antique, museum quality timepieces that heretofore have not been
available to the general buying public, and intends to market
such timepieces to museums or other institutional buyers, private
collectors and the general public.  

     There is absolutely no assurance that the business will
succeed and that the Company will be able to find purchasers for
and arrange suitable resales of the inventory it has already
acquired.  In the event the proposed business is unsuccessful,
there is no assurance the Company could successfully become
involved in any other business venture.  The Company presently
has no plans, commitments or arrangements with respect to any
other proposed business venture.

     At this time, no assurances can be given with respect to the
length of time after commencement of operations that it will be
necessary to fund operations from proceeds of the offering.  If
the Company is unable to generate sufficient revenues from
operations to cover expenses it may have to seek additional debt
or equity financing for which it has no commitments.  

<PAGE>
                   PART II - OTHER INFORMATION

Item 1.  Legal Proceedings

     None.

Item 2.  Changes in Securities and Use of Proceeds

     (a)  None.

     (b)  None.

     (c)  See Part I, Item 1 (financial statements) and Item 2
          (management's discussion) for financial information and
          a narrative discussion regarding use of proceeds.

Item 3.  Defaults Upon Senior Securities

     None.

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

     None.

Item 5.  Other Information

     None.

Item 6.  Exhibits and Reports on Form 8-K

     None.

<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.

                              First American Clock Co.



Date: August 26, 1998         by:  /s/Mick Jardine
                                   Mick Jardine, Chairman


<PAGE>