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


                FOR THE QUARTER ENDED DECEMBER 31, 1995


                      COMMISSION FILE NUMBER 1-9875

                                    LOGO


                   STANDARD COMMERCIAL CORPORATION


Incorporated under the laws of            I.R.S. Employer
     North Carolina                Identification No. 13-1337610


           2201 MILLER ROAD, WILSON, NORTH CAROLINA  27893

                     Telephone Number (919) 291-5507






Former name, former address and former fiscal year, if changed 
since last report   -   Not applicable


On February 5, 1996 the registrant had outstanding 9,041,455 
shares of Common Stock ($.20 par value).


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 and 
(2) had been subject to such filing requirements for the past 90 
days.



                             YES   X               NO       
                                -------              -------


STANDARD COMMERCIAL CORPORATION
CONSOLIDATED BALANCE SHEET
(In thousands; unaudited)
<TABLE>
                                                              December 31        March 31
                                                           ----------------- 
                                                           1995         1994         1995
                                                           ----         ----         ----
<S>                                                    <C>            <C>       <C>
ASSETS
Cash..................................................  $ 63,305       $ 36,691  $ 56,214
Receivables...........................................   242,537        255,484   210,863
Inventories...........................................   334,191        364,696   345,410
Prepaid expenses......................................     4,298          8,292     3,995
Marketable securities at cost (approximate market)....     1,280            566       471
                                                      -----------------------------------
    Current assets....................................   645,611        665,729   616,953

Property, plant and equipment.........................   139,268        129,873   134,407
Investment in affiliates..............................    13,360         14,058    12,905
Other assets..........................................    30,924         35,829    49,224
                                                      -----------------------------------
    Total assets......................................  $829,163       $845,489  $813,489
                                                      ===================================
LIABILITIES
Short-term borrowings.................................  $404,461       $423,309  $378,955
Current portion of long-term debt.....................    10,699         23,130    11,899
Accounts payable......................................   156,282        117,472   145,083
Taxes accrued.........................................    21,271         20,279    26,955
                                                      -----------------------------------
    Current liabilities...............................   592,713        584,190   562,892

Long-term debt........................................    35,221         33,209    32,403
Convertible subordinated debentures...................    69,000         69,000    69,000
Retirement and other benefits.........................    18,652         17,689    17,791
Deferred taxes........................................    12,082         11,072    12,585
Commitments and contingencies.........................         -              -         -
                                                      -----------------------------------
    Total liabilities.................................   727,668        715,160   694,671
                                                      -----------------------------------
MINORITY INTERESTS....................................    25,248         25,858    31,336
                                                      -----------------------------------
ESOP redeemable preferred stock.......................     8,748          9,132     9,132
Unearned ESOP compensation............................    (6,165)        (7,193)   (6,600)
                                                      -----------------------------------
SHAREHOLDERS' EQUITY
Preferred stock, $1.65 par value
  Authorized shares 1,000,000; issued 91,319 to ESOP
    (December 1994 - 92,005)..........................         -              -         -
Common stock, $0.20 par value
  Authorized shares 100,000,000; issued 11,506,294
  (December 1994 - 11,047,559; March 1995 - 11,160,289)    2,301          2,210     2,232
Unearned restricted stock plan compensation...........      (464)          (588)     (548)
Additional paid-in capital............................    42,577         36,718    38,288
Treasury stock 2,466,001 shares (2,369,781 at 
  December 1994 and 2,393,748 at March 1995)..........    (2,147)          (900)   (1,233)
Retained earnings.....................................    38,405         77,469    50,530
Cumulative translation adjustments....................    (7,008)       (12,377)   (4,319)
                                                      -----------------------------------
    Total shareholders' equity........................    73,664        102,532    84,950
                                                      -----------------------------------
    Total liabilities and equity......................  $829,163       $845,489  $813,489
                                                      ===================================
</TABLE>

The accompanying notes on page 5 are an integral part of these 
financial statements.


STANDARD COMMERCIAL CORPORATION
CONSOLIDATED STATEMENT OF INCOME AND RETAINED EARNINGS
(In thousands, except share information; unaudited)

<TABLE>
                                                              Third Quarter Ended    Nine months ended
                                                                   December 31           December 31
                                                                1995        1994      1995        1994
                                                                ----        ----      ----        ----
<S>                                                         <C>        <C>        <C>        <C>
Sales - tobacco............................................  $271,745   $196,426   $642,018   $479,898
      - nontobacco.........................................   105,810    105,454    314,698    300,280
                                                           -------------------------------------------
    Total sales............................................   377,555    301,880    956,716    780,178
Cost of sales..............................................   351,244    278,630    901,170    725,863
Selling, general and administrative expenses...............    18,701     17,731     55,850     52,767
Restructuring charges......................................    12,500          -     12,500          -
Other income (expense) - net...............................    (1,362)      (847)    (1,422)     6,403
                                                           -------------------------------------------
    Income (loss) before taxes.............................    (6,252)     4,672    (14,226)     7,951
Income taxes...............................................    (1,676)    (2,554)    (2,522)    (7,492)
                                                           -------------------------------------------
    Income (loss) after taxes..............................    (7,928)     2,118    (16,748)       459
Minority interests.........................................    (1,112)      (736)    (2,263)    (4,663)
Equity in earnings (losses) of affiliates..................         -     (1,086)       541       (748)
                                                           -------------------------------------------
    Income (loss) from continuing operations...............   (9,040)        296    (18,470)    (4,952)
Discontinued operations....................................   10,799           -     10,050          -
                                                           -------------------------------------------
    Net income (loss)......................................    1,759         296     (8,420)    (4,952)
ESOP preferred stock dividends net of tax..................     (117)       (121)      (358)      (363)
                                                           -------------------------------------------
    Net income (loss) applicable to common stock...........    1,642         175     (8,778)    (5,315)

Retained earnings at beginning of period...................     37,828    78,395     50,530     84,807
Dividends declared.........................................     (1,065)   (1,101)    (3,347)    (2,023)
                                                           -------------------------------------------
    Retained earnings at end of period.....................    $38,405   $77,469    $38,405    $77,469
                                                           ===========================================
Earnings (loss) per common share
    Primary - from continuing operations...................     $(1.02)    $0.02     $(2.12)    $(0.62)
            - from discontinued operations.................      $1.20         -      $1.13          -
            - net..........................................      $0.18     $0.02     $(0.99)    $(0.62)

       - average shares outstanding........................  8,973,623 8,619,884  8,888,292  8,588,566

  Fully diluted - from continuing operations...............          *         *          *          *
                - from discontinued operations.............          *         *          *          *
                - net......................................          *         *          *          *
                - average shares outstanding...............          *         *          *          *

Dividends paid per common share............................          -         -          -      $0.20

</TABLE>

*Not applicable because fully diluted calculations include 
 antidilutive adjustments.


The accompanying notes on page 5 are an integral part of these 
financial statements


STANDARD COMMERCIAL CORPORATION
CONSOLIDATED STATEMENT OF CASH FLOWS
(In thousands; unaudited)

<TABLE>
                                                               Nine months ended
                                                                  December 31
                                                                1995        1994
                                                                ----        ----
<S>                                                         <C>          <C>
CASH FLOWS FROM OPERATING ACTIVITIES

Net loss...................................................   $(8,420)    $(4,952)
Depreciation and amortization..............................    19,391      11,904
Minority interests.........................................     2,262       4,663
Deferred income taxes......................................      (502)          -
Undistributed earnings (losses) of affiliates..............      (540)        810
Discontinued operations....................................   (10,050)          -
Gain on disposition of property, plant and equipment.......    (1,145)     (8,052)
Other......................................................      (189)      1,108
                                                           ----------------------
                                                                  807       5,481

Net changes in working capital
    Receivables............................................    (7,170)     14,876
    Inventories............................................    12,753      11,040
    Current payables.......................................    (1,060)     (9,061)
                                                           ----------------------
CASH PROVIDED BY OPERATING ACTIVITIES......................     5,330      22,336
                                                           ----------------------
CASH FLOWS FROM INVESTING ACTIVITIES

Property, plant and equipment - additions..................    (9,349)   (12,946)
                              - dispositions...............     2,883      8,359
Minority interest..........................................    (7,740)         -
Business (acquisitions) dispositions.......................       279       (873)
                                                           ---------------------
CASH USED FOR INVESTING ACTIVITIES.........................   (13,927)    (5,460)
                                                           ---------------------
CASH FLOWS FROM FINANCING ACTIVITIES

Proceeds from long-term borrowings.........................     9,658     8,516
Repayment of long-term borrowings..........................   (12,226)  (15,081)
Net change in short-term borrowings........................    20,133   (42,052)
Cash dividends paid........................................      (362)   (1,792)
Other......................................................    (1,515)      422
                                                           --------------------
CASH PROVIDED BY (USED FOR) FINANCING ACTIVITIES...........    15,688   (49,987)
                                                           --------------------
Increase (decrease) in cash for period.....................     7,091   (33,111)
Cash at beginning of period................................    56,214    69,802
                                                           --------------------
CASH AT END OF PERIOD......................................   $63,305   $36,691
                                                           ====================
</TABLE>


The accompanying notes on page 5 are an integral part of these 
financial statements.


STANDARD COMMERCIAL CORPORATION
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(BULLET)The interim statements presented herein should be read in 
conjunction with the financial statements and notes thereto 
included in the Company's latest Annual Report on Form 10-K.  The 
interim statements have been prepared by the Company without audit 
and contain all of the adjustments which are, in the opinion of 
management, necessary for a fair statement of the results of 
operations.  Except for reversal of provisions relating to 
disposal of the wool business, all such adjustments are of a 
normal, recurring nature.  Because of the nature of the Company's 
businesses, fluctuations in results for interim periods are not 
necessarily indicative of business trends or results to be 
expected for a full year.

(BULLET)The financial statements have been restated to reflect 
reinstatement of the wool business as a continuing operation.

(BULLET)Reinstatement of the wool division as a continuing 
operation resulted in a review of the corporate structure and 
determination that a restructuring of nontobacco operations and 
certain asset write-offs were necessary with the following effect 
on net income:

 (In millions)
  Restructuring operations (net of $1.5 million tax)   $5.9
  Reduction of Wool Division goodwill                   3.6
  Write off deferred wool-sale transaction costs        1.5
                                                       ----
     Total                                            $11.0
                                                       ====
(BULLET)Inventories for the periods shown were as follows:

                               December 31      March 31
     (In thousands)      1995         1994          1995
      Tobacco        $230,734     $229,893      $194,344
      Nontobacco      103,457      134,803       151,066
                      -------      -------       -------
       Total         $334,191     $364,696      $345,410
                      =======      =======       =======

(BULLET)There were no changes in accounting policies during the 
period ended December 31, 1995.

MANAGEMENT'S DISCUSSION AND ANALYSIS OF
RESULTS OF OPERATIONS AND FINANCIAL CONDITIONS

Results of Operations

Sales for the December 1995 quarter increased by 25.1% to $377.6 
million from $301.9 million for the same quarter in 1994.  Sales 
for the most recent nine months were up 22.6% to $956.7 million 
from $780.2 million for the comparable 1994 period.  Net income 
for the 1995 quarter amounted to $1.8 million or $0.18 per share 
compared to $296,000 or $0.02 per share a year earlier.  The 1995 
loss for nine months was $8.4 million compared to a loss of $5.0 
million during the corresponding 1994 period.

Tobacco sales increased by 38.3% for the 1995 quarter and 33.8% 
for the nine months compared to the same periods in 1994.  Tobacco 
pretax operating margins for both the 1995 third quarter and nine 
months continued to improve over the comparable prior-year 
periods.  The increase in sales and margins were due to improved 
industry conditions and mix of sales, whereas 1994 margins were 
adversely affected by the remnants of a worldwide inventory 
surplus and the Company's emphasis on inventory reduction.  
Nontobacco sales were up by 0.3% and 4.8% during the 1995 third 
quarter and nine months over the same prior year periods.  
However, exceedingly difficult wool trading conditions in 1995 
resulted in a disappointing drop in operating margins compared to 
the same 1994 periods.

Before restructuring charges, as explained below, the pretax and 
after tax income for the 1995 quarter were $6.2 million and $3.1 
million compared to $4.7 million and $2.1 million in the 
corresponding 1994 quarter.  For the nine months, excluding 
restructuring charges, the pretax loss for 1995 was $1.7 million 
($5.8 million after tax) compared to a profit of $8.0 million 
($459,000 after tax) in 1994. The 1994 nine months included a pretax 
gain on asset sales included in other income of $8.1 million 
($1.1 million net of tax and minority interest).  Interest of 
$12.1 million and $35.2 million was expensed in the 1995 quarter 
and nine months, respectively, compared with $11.8 million and 
$29.4 million in the same prior-year periods.

As announced in December 1995, the Company and Chargeurs, a French 
public company, allowed the sale-purchase agreement of Standard's 
wool business to lapse due to difficulty in obtaining certain 
regulatory approvals.  As a result, the Company implemented a 
reorganization plan for its nontobacco businesses and determined 
that a pretax restructuring charge of $12.5 million was 
appropriate.  This charge is specifically for closure of 
facilities and write-off of certain assets ($7.4 million), writing 
down impaired goodwill ($3.6 million) and write-off of deferred 
wool-sale transaction costs ($1.5 million).  The primary basis for 
this charge was the reduced market value of the wool business 
determined by third-party negotiations.  By reorganizing its 
nontobacco operations, the Company expects a quicker return to 
profitability of this segment.

Income taxes for the 1995 quarter and nine months include a credit 
of $1.5 million relating to restructuring charges whereas the 1994 
nine months included a nonrecurring charge of $1.6 million on 
dividends remitted by a foreign subsidiary that could not be 
offset by foreign tax credits.  Also, all four periods were 
adversely affected by tax charges in areas where profits were 
earned and minimal relief available in areas where losses were 
incurred.

Discontinued operations for the 1995 quarter and nine months 
include reversal of provisions of $10.8 million and $10.1 million 
made during the current year ($759,000) and at March 31, 1995 
($10.1 million) towards the estimated net loss on sale of the wool 
business.

Because of the seasonal nature of the Company's businesses, 
results for interim periods are not necessarily indicative of 
results for a full year.  

Financial Condition

Working capital at December 31, 1995 was $52.9 million compared to 
$81.5 million at December 31, 1994.  The decrease was mainly due 
to the repayment of long-term borrowings ($14.0 million), 
liquidation proceeds due to a minority partner in Korea ($7.7 
million) and net capital expenditures ($6.5 million).  Capital 
expenditures included $8.8 million for the tobacco business, a 
major part of which have been financed with a new $6 million long-
term facility arranged by the local subsidiary in Turkey.  Despite 
paying higher prices for 1995 crop purchases, the December year-
to-year tobacco inventory was up by less than $1 million.  March 
31 is generally the cyclical low point for inventories.

The Company's credit facilities are believed by management to be 
adequate for its projected level of business in fiscal 1996, and 
it is expected that the facilities will be renewed for fiscal 1997 
prior to the June 1996 expiry.



                PART II - OTHER INFORMATION

Item 1.  LEGAL PROCEEDINGS  -  Not applicable

Item 2.  CHANGES IN SECURITIES  -  Not applicable

Item 3.  DEFAULTS UPON SENIOR SECURITIES  -  Not applicable

Item 4.  SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS
         -  Not applicable

Item 5.  OTHER INFORMATION  -  Not applicable

Item 6.  EXHIBITS AND REPORTS ON FORM 8-K

          a.  Exhibit 11 Computation of Earnings per Common Share.

          b.  Exhibit 27 Financial Data Schedule

          c.  The Company did not file any reports on Form 8-K
              during the quarter.

                           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.

Dated: February 13, 1996        STANDARD COMMERCIAL CORPORATION
                                         (Registrant)


                                By  /s/  Robert E Harrison
                                  ----------------------------
                                  Robert E Harrison
                                  Senior Vice President 
                                   and Chief Financial Officer


                                By  /s/  Guy M Ross
                                  ----------------------------
                                  Guy M Ross
                                  Vice President
                                  and Chief Accounting Officer