SECURITIES AND EXCHANGE COMMISSION
                     WASHINGTON, D.C. 20549

                           FORM 10-Q


          QUARTERLY REPORT UNDER SECTION 13 OR 15 (d)
             OF THE SECURITIES EXCHANGE ACT OF 1934


Quarter Ended September 30, 1996            Commission File
Number 0-83903-NY


                         SPECTEX INDUSTRIES, INC.              
              

     (Exact name of registrant as specified in its charter)

      New York                                            
13-6186951        

(State of Incorporation)                         (I.R.S.
Employer
                                            Identification No.)


505 Carroll Street            Brooklyn, NY                
11215             

(Address of principal executive offices)               (Zip
Code)



Registrant's telephone number, including area code: (718)
797-9400


                             Not Applicable                    
            
Former name, former address and former fiscal year, if changed
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 proceeding 12 months (or for such shorter
periods 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    

Number of shares outstanding of common stock - at September 30,
1996 4,138,520
shares.



                              -1-

                             INDEX

           SPECTEX INDUSTRIES, INC. AND SUBSIDIARIES
             THREE MONTHS ENDED SEPTEMBER 30, 1996



PART I. FINANCIAL INFORMATION

Item 1.  Financial Statements (Unaudited)

         Consolidated balance sheet--September 30, 1996
         (unaudited) and December 31, 1995 (audited).

         Condensed consolidated statement of income (unaudited)
         - Three months and nine months ended September 30, 1996
         and 1995.

         Consolidated statement of cash flow (unaudited) - Nine
         months ended September 30, 1996 and 1995.

         Notes to consolidated financial statements (unaudited)
         - September 30, 1996.

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

PART II. OTHER INFORMATION

         NOT APPLICABLE

SIGNATURES
















                              -2-

           SPECTEX INDUSTRIES, INC. AND SUBSIDIARIES
             CONSOLIDATED BALANCE SHEETS-NOTE BELOW
ASSETS
September 30,  
December 31,
Current Assets:
    1996    
     1995   
  Cash in bank
 $  193,014 
$  785,764 
  Accounts receivable-net of allowances


    for doubtful accounts
2,191,395 
1,669,718 
  Other receivables
36,822 
11,036 
  Inventory
1,524,298 
1,667,018 
  Prepaid expenses
71,014 
65,278 
  Mortgages receivable
92,540 
153,540 
  Marketable securities
265,509 
218,928 

           
           
          Total Current Assets
4,374,592 
4,571,282 

           
           
Property, plant and equipment at cost, partly


  pledged, net of accumulated depreciation
3,476,043 
3,666,558 

           
           
Other Assets:


  Loan receivable from shareholder 
379,913 
292,366 
  Deferred taxes
276,292 
119,576 
  Deferred charges net of accumulated 


    amortization $354,693 in 1996;


    $323,559 in 1995
138,414 
169,548 
  Mortgages receivable
39,574 
89,264 

           
           
          Total Other Assets
834,193 
670,754 

           
           
          Total Assets
$8,684,828 
$8,908,594 


 
LIABILITIES & STOCKHOLDERS' EQUITY


Current Liabilities:


  Accounts payable-trade
$1,459,153 
$1,275,792 
  Accrued expenses
49,012 
166,162 
  Income taxes payable
268,217 
229,204 
  Notes payable-current portion
566,460 
560,085 

           
           
          Total Current Liabilities
2,342,842 
2,231,243 

           
           
Long-term debt, notes payable-less
 

  current portion above
1,917,721 
2,119,198 

           
           
Minority interests in equity of subsidiaries
776,313 
747,334 

           
           



Stockholders' Equity:


  Capital stock-$.01 par value-authorized


    5,000,000 shares and 4,338,520 shares


    issued
43,383 
43,383 
  Capital in excess of par
846,660 
846,660 
  Retained earnings
2,778,376 
2,941,243 

           
           
          Total
3,668,419 
3,831,286 
  Less: Treasury stock 87,940 shares 


          at cost
(20,467)
(20,467)

           
           
          Net Stockholders' Equity
3,647,952 
3,810,819 

           
           
          Total 
$8,684,828 
$8,908,594 



Note:  The accompanying notes are an integral part of this
report.
                              -3-

           SPECTEX INDUSTRIES, INC. AND SUBSIDIARIES
           CONDENSED CONSOLIDATED STATEMENT OF INCOME




    
                                    Three Months           Nine
Months
                                 Ended September 30,        
Ended September 30,

      1996
    1995
    1996  
1994
    1995  
1994
Net sales and gross revenue
$8,464,280
$8,975,063
$24,378,324 
$26,143,406





Costs and expenses:




  Cost of goods sold
7,282,710
7,856,948
22,376,806 
23,961,505
  Selling, general and
administrative




    expenses
748,587
658,112
2,198,431 
2,052,916

          
          
            
           
           Total Costs & Expenses
8,031,297
8,515,060
24,575,237 
26,014,421

          
          
           
           





Income (loss) before income taxes




  and minority interests
432,983
460,003
(196,913)
128,985

          
          
           
           





Less: Provision for taxes
(recovery)




        on income:




          State & local taxes
81,961
95,919
(23,713)
59,543
          Federal income taxes
113,965
127,956
(39,312)
43,281
 
          
          
           
           
            Total
195,926
223,875
(63,025)
102,824





Less: Minority interests in




  operations of subsidiaries
117,134
95,206
28,979 
23,609

          
          
           
           
            Net Reductions (Additions)




              (Additions)
313,060
319,081
(34,046)
126,433

          
          
           
           





Net income (loss)
$  119,923
$  140,922
$ (162,867)
$     2,552
Earnings (or loss) per share
 $    .03  
$    .03  
$     (.04) 

$   NIL    
Dividends per share
 $    -0-  
$    -0-  
 $    -0-   
$   -0-    






Weighted average number of shares




  in determining earnings (loss)




  per share
4,138,520 
4,138,520 
4,138,520 
4,138,520 



Note: The accompanying notes are an integral part of this
report.

                              -4-

           SPECTEX INDUSTRIES, INC. AND SUBSIDIARIES
              CONSOLIDATED STATEMENT OF CASH FLOW
                NINE MONTHS ENDED SEPTEMBER 30,

Operating Activities:
1996
1995
  Net (Loss) Income from Operations 
$(162,867)
$   2,552 
  Plus: Adjustments to reconcile net income


    to net cash provided by operating activities:


  Minority interest in participation of


    subsidiary
28,979 
23,609 
  Depreciation & amortization
238,480 
333,677 
  Deferred taxes
(156,716)
28,103 
  Loss on sale of building
-0- 
60,300 



Changes in Operating Assets and Liabilities:


  (Increase) in accounts receivable
(521,677)
(385,845)
  Decrease (Increase) in inventory
142,720 
(211,316)
  (Increase) Decrease in prepaid expenses
(5,736)
14,236 
  Increase (Decrease) in accounts payable
183,361 
(183,938)
  (Decrease) Increase in accrued expenses and


    taxes payable
 (117,150)
2,970 
  Increase (Decrease) in income taxes payable
39,013 
(51,916)
  (Increase) Decrease in officers' and


    other receivables
(113,333)
68,970 

          
          
          Net Cash (Used in) Operating


            Activities
(444,926)
(298,598)

          
          



Investing Activities:


  Purchase of fixed assets
(16,823)
(18,049)
  Proceeds from sale of building
-0- 
43,046 
  Proceeds from mortgage receivable
110,682 
72,212 
  Investment in marketable securities
(46,581)
(102,091)

          
          
          Net Cash Provided From (Used 


            in) Investing Activities
47,278 
(4,882)

          
          



Financing Activities:


  Payments on IDA loans
(192,510)
(192,510)
  Payment on mortgage debt
-0- 
(13,049)
  Payments on auto & equipment loans
(2,592)
(57,307)

          
           
          Net Cash (Used in) Financing


            Activities
(195,102)
(262,866)

          
          
          Net (Decrease) in Cash
(592,750)
(566,346)



Cash at January 1,
785,764 
873,371 

          
          
Cash at September 30,
$ 193,014 
$ 307,025 



Note: The accompanying notes are an integral part of this
report.
                             -5-   

           SPECTEX INDUSTRIES, INC. AND SUBSIDIARIES
           NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                       SEPTEMBER 30, 1996


NOTE 1 - BASIS OF PRESENTATION:
The accompanying unaudited consolidated financial statements
have been prepared
in accordance with generally accepted accounting principles for
interim financial
information and in accordance with instructions to Form 10-Q
and Rule 10-01 of
Regulation S-X.  Accordingly, they do not include all of the
information and
footnotes required by generally accepted accounting principles
for complete
financial statements.  In the opinion of management, all
adjustments (consisting
of normal recurring accruals) considered necessary for a fair
presentation, have
been included.  Operating results for the three and nine month
periods ended   
September 30, 1996 are not necessarily indicative of the
results that may be
expected for the year ended December 31, 1996.  For further
information, refer
to the consolidated financial statements and footnotes thereto
included in the
Company's annual report on Form 10-K for the year ended
December 31, 1995.

The Company and its operating subsidiaries, with the exception
of J&J Farms
Creamery, Inc. are engaged in apparel manufacturing.

Operating data of J&J Farms Creamery, Inc. for the quarter
ending September 30,
1996, included in the consolidated operations of the Company,
are as follows:

    Profit & Loss Information
      Sales                  $7,118,423

      Cost of goods sold           6,095,479
      Selling, general and
       administrative                588,822

      Total Costs and Expenses     6,684,301

         Pre-Tax Profit      $  434,122

NOTE 2:  Accounts receivable are shown net of allowances for
doubtful accounts
of $-0- at September 30, 1996 and $-0- at December 31, 1995.

NOTE 3:  Inventories at statement dates are shown at the lower
of cost or market
on a first-in first-out basis, and are classified and valued as
follows:

                   September 30, 1996  Dec. 31, 1995
    Raw materials  $  347,634               $  398,296
    Supplies           80,121                   95,172
    Work in process        133,876                  162,326
    Finished goods    123,841                   85,438
    Dairy products    838,826                  925,786
         Total          $1,524,298               $1,667,018



                              -6-

           SPECTEX INDUSTRIES, INC. AND SUBSIDIARIES
           NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                       SEPTEMBER 30, 1996



NOTE 4 - MORTGAGE RECEIVABLE:
In 1993 J&J Farms Creamery, Inc. loaned money to an unrelated
party as a mortgage
receivable of $240,000, which is self-liquidating and due in
1998.  Inerest on
the mortgage is payable at the rate of 10% per annum.

In May 1995 J&J Farms Creamery, Inc. sold a building, which it
had acquired in
1993 as payment for an outstanding accounts receivable.  The
building was sold
for $105,000.  $30,000 remains due as a mortgage receivable due
in the current
fiscal year.

NOTE 5 - DEFERRED CHARGES:
Deferred charges include covenants not to compete and mortgage
refinancing costs
in connection with NYC Industrial Development Agency financings
and are being
amortized over their respective terms.












                              -7-


            SPECTEX INDUSTRIES INC. AND SUBSIDIARIES
  MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION
                   AND RESULTS OF OPERATIONS
             THREE MONTHS ENDED SEPTEMBER 30, 1996


Net sales in the third quarter of 1996 were approximately 5.6%
lower as compared
to 1995.  The gross profit percentage increased, while
operating expenses, as a
percentage of sales also increased as compared to 1995.

Cash flow generated by the Company's operations is deemed
adequate to meet the
Company's financial obligations.





















                              -8-



PART II. OTHER INFORMATION



REPORTS ON FORM 8-K


The Company did not file any reports on Form 8-K during the
three months ended
September 30, 1996.





















                              -9-







                           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.


                                   Spectex Industries, Inc.    
  
                               (Registrant)


Date:  November 15, 1996                                       
            
                             Michael Oberlander, President

Date:  November 15, 1996                                       
           
                             Simon Friedman, Chief Financial
Officer




















                              -10-