UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
                  
                               FORM 10-Q
                               (Mark one)

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

For the quarterly period ended                     June 28, 1997      
                                 or

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

For the transition period from                      to                    
Commission File Number               1-8120                        

                         BAIRNCO CORPORATION                 
       (Exact name of registrant as specified in its charter)

                 Delaware                            13-3057520 
        (State or other jurisdiction of            (IRS Employer      
          incorporation or organization)         Identification No.)

      2251 Lucien Way, Suite 300, Maitland, FL             32751    
      (Address of principal executive offices)           (Zip Code)

                             (407) 875-2222                   
           (Registrant's telephone number, including area code)

                                                                    
(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    

        (APPLICABLE ONLY TO ISSUERS INVOLVED IN BANKRUPTCY
           PROCEEDING DURING THE PRECEDING FIVE YEARS)

Indicate by check mark whether the registrant has filed all documents and 
reports required to be filed by Sections 12, 13, or 15(d) of the Securities 
Exchange Act of 1934 subsequent to the distribution of securities under a 
plan confirmed by a court. Yes       No      

            (APPLICABLE ONLY TO CORPORATE ISSUERS)

Indicate the number of shares outstanding of each issuer's classes of common 
stock, as of the latest practicable date.

9,012,134 shares of Common Stock Outstanding as of July 25, 1997.
                                               



"Safe Harbor" Statement under the Private Securities Reform Act of 1995

Certain of the statements contained in this Quarterly Report (other than the 
financial statements and statements of historical fact), including, without 
limitation, statements as to management expectations and beliefs presented 
under the caption "Management's Discussion and Analysis of Financial 
Condition and Results of Operations", are forward-looking statements.  
Forward-looking statements are made based upon management's expectations and 
belief concerning future developments and their potential effect upon the 
Corporation.  There can be no assurance that future developments will be in 
accordance with management's expectations or that the effect of future 
developments on the Corporation will be those anticipated by management.

The Corporation wishes to caution readers that the assumptions which form 
the basis for forward-looking statements with respect to or that may impact 
earnings for the year ended December 31, 1997 and thereafter include many 
factors that are beyond the Corporation's ability to control or estimate 
precisely.  These risks and uncertainties include, but are not limited to, 
the market demand and acceptance of the Corporation's existing and new 
products, the impact of competitive products,	changes in the market for 
raw or packaging materials, which could impact the Corporation's 
manufacturing costs, changes in product mix, changes in the pricing of the 
products of the Corporation or its competitors, the loss of a significant 
customer or supplier, production delays or inefficiencies, the costs and 
other effects of complying with environmental regulatory requirements, the 
costs and other effects of legal and administrative cases and proceedings, 
settlements and investigations, and changes in US or international economic 
or political conditions, such as inflation or fluctuations in interest or 
foreign exchange rates.

While the Corporation periodically reassesses material trends and 
uncertainties affecting the Corporation's results of operations and 
financial condition in connection with its preparation of management's 
discussion and analysis contained in its quarterly reports, the Corporation 
does not intend to review or revise any particular forward-looking statement
referenced herein in light of future events.




PART I - FINANCIAL INFORMATION

Item 1:	FINANCIAL STATEMENTS

<TABLE>
BAIRNCO CORPORATION AND SUBSIDIARIES
CONSOLIDATED CONDENSED STATEMENTS OF INCOME
FOR THE QUARTERS ENDED JUNE 28, 1997 AND JUNE 29, 1996
(Unaudited)

<CAPTION>
                                        1997           1996       
<S>                                     <C>            <C>
Net sales                               $ 41,128,000   $ 37,323,000
Cost of sales                             27,020,000     24,067,000
Gross profit                              14,108,000     13,256,000
Selling and administrative expenses        9,981,000      9,276,000
Operating profit                           4,127,000      3,980,000
Interest expense, net                        460,000        433,000
Income before income taxes                 3,667,000      3,547,000
Provision for income taxes                 1,320,000      1,348,000 
Net Income                              $  2,347,000   $  2,199,000

Primary and fully diluted earnings per 
 share of common stock  (Note 2)        $       0.25   $       0.22

Dividends per share of common stock     $       0.05   $       0.05



The accompanying notes are an integral part of these financial statements.
</TABLE>


<TABLE>
BAIRNCO CORPORATION AND SUBSIDIARIES
CONSOLIDATED CONDENSED STATEMENTS OF INCOME
FOR THE SIX MONTHS ENDED JUNE 28, 1997 AND JUNE 29, 1996
(Unaudited)

<CAPTION>
                                        1997           1996       
<S>                                     <C>            <C> 
Net sales                               $ 78,573,000   $ 75,417,000
Cost of sales                             51,485,000     48,723,000
Gross profit                              27,088,000     26,694,000
Selling and administrative expenses       19,097,000     18,897,000
Operating profit                           7,991,000      7,797,000
Interest expense, net                        875,000        848,000
Income before income taxes                 7,116,000      6,949,000
Provision for income taxes                 2,596,000      2,641,000 
Net Income                              $  4,520,000   $  4,308,000

Primary and fully diluted earnings per
 share of common stock  (Note 2)        $       0.48   $       0.43

Dividends per share of common stock     $       0.10   $       0.10




The accompanying notes are an integral part of these financial statements.
</TABLE>

<TABLE>
BAIRNCO CORPORATION AND SUBSIDIARIES
CONSOLIDATED CONDENSED BALANCE SHEETS
AS OF JUNE 28, 1997 AND DECEMBER 31, 1996

                                            (Unaudited)
<CAPTION>
                                            1997           1996        
<S>                                         <C>            <C>
ASSETS
Current assets:		
Cash and cash equivalents                   $  1,426,000   $    855,000
Accounts receivable, less allowances of
  $952,000 and $822,000, respectively         25,851,000     21,476,000
Inventories (Note 3)                          26,538,000     23,499,000
Deferred income taxes                          2,922,000      2,922,000
Other current assets                           2,081,000      3,748,000
  Total current assets                        58,818,000     52,500,000 

Plant and equipment, at cost                  87,899,000     84,531,000 
Less - Accumulated depreciation and
  amortization                               (48,691,000)   (46,255,000)
Plant and equipment, net                      39,208,000     38,276,000
Cost in excess of net assets of purchased 
  businesses                                   7,720,000      7,922,000
Other assets                                   4,283,000      3,902,000 
                                            $110,029,000   $102,600,000

LIABILITIES & STOCKHOLDERS' INVESTMENT
Current Liabilities:
Short-term debt                             $  4,385,000   $  3,337,000
Current maturities of long-term debt              37,000        125,000
Accounts payable                              11,795,000      7,383,000
Accrued expenses (Note 4)                      9,929,000     11,314,000
  Total current liabilities                   26,146,000     22,159,000

Long-term debt                                28,430,000     24,717,000
Deferred income taxes                          3,107,000      3,114,000
Other liabilities                              2,721,000      3,146,000
Stockholders' Investment:	
 Preferred stock, par value $.01, 5,000,000
  shares authorized, none issued                     --             --
 Common stock, par value $.01, 30,000,000 
  shares authorized, 11,159,499 and 
  11,155,499 shares issued, respectively         112,000        112,000
 Paid-in capital                              49,006,000     49,004,000
 Retained earnings                            19,446,000     15,858,000
 Currency translation adjustment               1,719,000      2,282,000
 Treasury stock, at cost, 2,124,565 and 
  1,741,965 shares, respectively             (20,658,000)   (17,792,000)
   Total stockholders' investment             49,625,000     49,464,000
                                            $110,029,000   $102,600,000

The accompanying notes are an integral part of these financial statements.
</TABLE>

<TABLE>
BAIRNCO CORPORATION AND SUBSIDIARIES
CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS
FOR THE SIX MONTHS ENDED JUNE 28, 1997 AND JUNE 29, 1996
(Unaudited)

<CAPTION>
                                                1997           1996
<S>                                             <C>            <C>
Cash Flows from Operating Activities:
Net Income                                      $  4,520,000   $  4,308,000
Adjustments to reconcile to net cash 
 provided by operating activities:
  Depreciation and amortization                    3,311,000      3,333,000
  Loss on disposal of plant and equipment              1,000         31,000
  Deferred income taxes                               (7,000)         1,000
  Change in operating assets and liabilities:
   (Increase) in accounts receivable              (4,375,000)    (2,189,000)
   (Increase) decrease in inventories             (3,039,000)       414,000 
   Decrease (increase) in other current assets     1,667,000       (450,000)
   Increase in accounts payable                    4,412,000        349,000 
   (Decrease) in accrued expenses                 (1,385,000)      (342,000)
   Other                                            (684,000)       119,000 
Net cash provided by operating activities          4,421,000      5,574,000 

Cash Flows from Investing Activities:
 Capital Expenditures                             (4,644,000)    (5,899,000)
 Proceeds from collection on notes receivable        179,000        366,000 
 Proceeds from sales of plant and equipment           19,000         43,000 
Net cash (used in) investing activities           (4,446,000)    (5,490,000)

Cash Flows from Financing Activities:
 Net borrowings of external debt                   4,855,000      3,243,000 
 Payment of dividends                               (929,000)      (979,000)
 Purchase of treasury stock                       (2,866,000)    (2,712,000)
 Exercise of stock options                             2,000        369,000 
Net cash provided by (used in) financing 
  activities                                       1,062,000        (79,000)

Effect of foreign currency exchange rate changes
 on cash and cash equivalents                       (466,000)       176,000 

Net (decrease) increase in cash and cash 
 equivalents                                         571,000        181,000 
Cash and cash equivalents, beginning of period       855,000        608,000 
Cash and cash equivalents, end of period        $  1,426,000   $    789,000  




The accompanying notes are an integral part of these financial statements.
</TABLE>


BAIRNCO CORPORATION AND SUBSIDIARIES
NOTES TO CONSOLIDATED CONDENSED FINANCIAL STATEMENTS
JUNE 28, 1997
(Unaudited)


(1)	Basis of Presentation

The accompanying consolidated condensed financial statements include the 
accounts of Bairnco Corporation and its subsidiaries ("Bairnco" or the 
"Corporation") after the elimination of all material intercompany accounts 
and transactions.

The unaudited consolidated condensed financial statements included herein 
have been prepared pursuant to the rules and regulations of the Securities 
and Exchange Commission.  Certain information and note disclosures which are 
normally included in annual financial statements prepared in accordance with
generally accepted accounting principles have been condensed or omitted 
pursuant to those rules and regulations, although the Corporation believes 
that the disclosures made are adequate to make information presented not 
misleading. 

The consolidated results of operations for the quarter and six months ended 
June 28, 1997, are not necessarily indicative of the results of operations 
for the full year.  


(2)	Earnings per Common Share

Earnings per common share are based on the weighted average number of shares
outstanding, adjusted for the dilutive effect of stock options, which is the
same on both a primary and fully-diluted basis.
 

                              Second Quarter          First Six Months
                             1997        1996         1997         1996
Primary                   9,340,000   9,975,000    9,431,000   10,020,000
Fully Diluted             9,381,000   9,982,000    9,478,000   10,038,000

Statements regarding the computation of earnings per share for the quarters 
and six month periods ended June 28, 1997 and June 29, 1996 are included as 
Exhibit 11.1 and Exhibit 11.2, respectively, to this Quarterly Report on 
Form 10-Q.

In February 1997, the Financial Accounting Standards Board issued Statement 
of Financial Accounting Standards No. 128 "Earnings Per Share" ("SFAS 128").
SFAS 128 establishes new standards for computing and presenting earnings per
share ("EPS").  Specifically, SFAS 128 replaces the presentation of primary
EPS with a presentation of basic EPS, requires dual presentation of basic
and diluted EPS on the face of the income statement for all entities with
complex capital structures and requires a reconciliation of the numerator
and denominator of the basic EPS computation to the numerator and denominator
of the diluted EPS computation.  SFAS 128 is effective for financial 
statements issued for periods ending after December 15, 1997; earlier 
application is not permitted.  EPS for the quarters and six month periods 
ended June 28, 1997 and June 29, 1996 computed under SFAS 128 would not be
different than that previously computed.


(3)	Inventories

Inventories consisted of the following as of June 28, 1997 and December 31, 
1996:

                                          1997           1996       
Raw materials and supplies          $  5,673,000   $  4,733,000
Work in process                        6,638,000      5,999,000
Finished goods                        14,227,000     12,767,000
  Total inventories                 $ 26,538,000   $ 23,499,000


(4)	Accrued Expenses

Accrued expenses consisted of the following as of June 28, 1997 and 
December 31, 1996:

                                         1997           1996       
Salaries and wages                 $  2,016,000   $  2,708,000
Income taxes                            404,000        245,000
Insurance                             1,555,000      2,648,000
Litigation                            1,748,000      1,654,000
Other accrued expenses                4,206,000      4,059,000
  Total accrued expenses           $  9,929,000   $ 11,314,000


(5)	Contingencies

Bairnco Corporation and its subsidiaries are defendants in certain legal 
actions which are discussed more fully in Part II, Item 1 ("Legal 
Proceedings") of this filing.




Item 2:	MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION 
        AND RESULTS OF OPERATIONS

The following discussion should be read in conjunction with the accompanying
Consolidated Condensed Financial Statements and related notes and with 
Bairnco's Audited Consolidated Financial Statements and related notes for 
the year ended December 31, 1996.
 
Bairnco Corporation is a diversified multinational company that operates two 
distinct businesses under the names Arlon and Kasco.

Engineered materials and components are designed, manufactured and sold under
the Arlon brand identity to electronic, industrial and commercial markets.
These products are based on a common technology in coating, laminating and 
dispersion chemistry.  Arlon's principal products include high performance 
materials for the printed circuit board industry, cast and calendered vinyl
film systems, custom engineered laminates and pressure sensitive adhesive 
systems, and calendered and extruded silicone rubber insulation products 
used in a broad range of industrial, consumer and commercial products.

Replacement products and services are manufactured and distributed under 
the Kasco name principally to retail food stores and meat, poultry and fish 
processing plants throughout the United States, Canada and Europe.  The 
principal products include replacement band saw blades for cutting meat, 
fish, wood and metal, and on site maintenance services for the retail food 
industry primarily in the meat and deli departments.  Kasco also distributes
equipment to the food industry in Eastern Canada and France.  These products
are sold under a number of brand names including Kasco in the United States 
and Canada, Atlantic Service in the United Kingdom, and Bertram & Graf and 
Biro in Continental Europe.


Comparison of Second Quarter 1997 to Second Quarter 1996

Sales in the second quarter 1997 were $41,128,000, an increase of 10.2% from
$37,323,000 in 1996.  Arlon sales increased 16.2% due to the recovery in 
demand from last year's depressed second quarter caused by inventory 
corrections in the semiconductor industry, and from continued growth in the 
electronics and electrical insulation markets.  Although Kasco sales 
decreased 2.8% as a result of the decision to stop distributing equipment in
most of Canada at the end of 1996 and the negative impact of currency 
translation rates on sales of Kasco's European operations, sales of Kasco's 
core products increased during the second quarter.

Gross profit increased 6.4% to $14,108,000 from $13,256,000 primarily due to 
the increased sales.  The gross profit margin as a percent of sales decreased
from 35.5% to 34.3% as a result of sales mix change, continuing price 
pressures and lower yields at plants serving the telecommunications and 
semiconductor markets.

Selling and administrative expenses increased 7.6% to $9,981,000 from 
$9,276,000 primarily as the result of the impact of increased sales and the 
continuing investment in the development of new products and improved 
quality.  As a percent of sales, selling and administrative expenses were 
reduced to 24.3% from 24.9%.

Interest expense increased $27,000 to $460,000 for the second quarter from 
$433,000 last year.  This increase was the result of higher average 
borrowings in the current quarter.

The effective tax rate for the second quarter of 1997 was 36% down from 38% 
in 1996.  The provision for income taxes in both periods includes all 
applicable federal, state, local and foreign income taxes.

Net income increased 6.7% to $2,347,000 as compared to $2,199,000 in the 
second quarter of 1996.  Earnings per share increased 13.6% to $.25 from $.22
as a result of the increased net income and the reduced number of shares 
outstanding.

Comparison of First Six Months 1997 to First Six Months 1996

Sales for the first half of 1997 increased 4.2% to $78,573,000 from 
$75,417,000 in 1996.  The increase in sales was attributable to the growth 
in Arlon's sales during the second quarter 1997.

Gross profit increased $394,000, or 1.5% in 1997, from $26,694,000 in the 
first half of 1996.  The gross profit margin as a percent of sales decreased
from 35.4% to 34.5%.  The profit margin declines are primarily attributable 
to sales mix changes in Arlon's business, continuing price pressures and 
lower yields at the plants serving the telecommunications and semiconductor
markets.  Kasco's gross profit margin as a percent of sales continued to 
improve during 1997 with the elimination of most of the low margin equipment
distribution business in Canada at the end of 1996.

Selling and administrative expenses increased 1.1% to $19,097,000 from 
$18,897,000.  As a percent of sales, selling and administrative expenses 
decreased to 24.3% from 25.1%.

Interest expense increased $27,000 from the first half of 1996.  This 
increase was primarily the result of higher average borrowings in the 
second quarter of 1997.

The effective tax rate for the first half of 1997 was 36.5% versus 38% in 
1996.  The provision for income taxes in both periods includes all applicable
federal, state, local and foreign income taxes.

Net income increased 4.9% to $4,520,000 as compared to $4,308,000 in the 
first half of 1996. Earnings per share increased 11.6% to $.48 from $.43 as 
a result of increased net income and fewer average shares outstanding.


Liquidity and Capital Resources

At June 28, 1997, Bairnco had working capital of $32.7 million compared to 
$30.3 million at December 31, 1996.  The increase in accounts receivable 
relates primarily to the increased sales activity during the latter half of 
the second quarter of 1997 over that of the fourth quarter 1996.  Other 
current assets decreased as a result of the anticipated tax refund received 
during the first quarter of 1997.  The increase in accounts payable results 
primarily from the corresponding increase in inventories which were built 
in the second quarter of 1997 in anticipation of increased sales.  The 
decrease in accrued expenses results primarily from the settlement and 
payment of previously outstanding casualty insurance claims.

During the second quarter Bairnco repurchased 300,800 shares of its common 
stock bringing the total shares repurchased in 1997 to 382,600.

At June 28, 1997, Bairnco's total debt outstanding was $32,852,000 compared 
to $28,179,000 at the end of 1996.  This increase was primarily due to the 
stock repurchases and the payment of casualty insurance claims.  At June 28, 
1997 approximately $19.6 million was available for borrowing under the 
Corporation's secured reducing revolving credit agreement, as amended.  In 
addition, approximately $5.5 million was available under various short-term 
domestic and foreign uncommitted credit facilities.  

Bairnco made approximately $3.1 million of capital expenditures during the 
second quarter of 1997 bringing the total capital expenditures for the six 
months ended June 28, 1997 to $4,644,000.  Total capital expenditures in 
1997 are expected to be approximately $12.0 million.

Cash provided by operating activities plus the amounts available under the 
existing credit facilities are expected to be sufficient to fulfill Bairnco's
anticipated cash requirements in 1997.


Other Matters

Bairnco Corporation and its subsidiaries are defendants in a number of legal 
actions and proceedings which are discussed in more detail in Part II, Item 1
("Legal Proceedings") of this filing.  Management of Bairnco believes that 
the disposition of these actions and proceedings will not have a material 
adverse effect on the consolidated results of operations or the financial 
position of Bairnco Corporation and its subsidiaries as of June 28, 1997.

Outlook

Management is not aware of any adverse trends that would materially affect 
the Corporation's strong financial position.  It is expected that 1997 will 
be another year of continued improvement.





PART II - OTHER INFORMATION


Item 1:	LEGAL PROCEEDINGS

Since its announcement in January 1990 of its intention to spin off Keene, 
Bairnco has been named as a defendant in a number of individual personal 
injury and wrongful death cases in which it is alleged that Bairnco is 
derivatively liable for the asbestos-related claims against Keene.  On 
December 6, 1993, Keene filed for protection under Chapter 11 of the 
Bankruptcy Code.  On June 8, 1995, the Creditors' Committee commenced an 
adversary proceeding in the Bankruptcy Court against Bairnco, certain of its 
present and former officers and directors, and others alleging that the 
transfer of assets for value by Keene to other subsidiaries of Bairnco, and 
the spin-offs of certain subsidiaries by Bairnco, were fraudulent and 
otherwise violative of law and seeking compensatory damages of $700 million, 
plus interest and punitive damages (the "Transactions Lawsuit").  The 
complaint in the Transactions Lawsuit includes a count under the civil RICO 
statute, 18 U.S.C. Section 1964, pursuant to which any compensatory damages 
are trebled.

Bairnco is party to a separate action brought by Keene in the United States 
Bankruptcy Court for the Southern District of New York  in which Keene seeks 
the exclusive benefit of tax refunds attributable to the carryback by Keene 
of certain net operating losses ("NOL Refunds"), notwithstanding certain 
provisions of tax sharing agreements between Keene and Bairnco (the "NOL 
Lawsuit").  (After filing the NOL Lawsuit, Keene ceded control of the action 
to the Creditors' Committee.)  Pending resolution of the NOL Lawsuit, any 
refunds actually received are to be placed in escrow.  Through June 28, 1997,
approximately $28.5 million of NOL Refunds had been received and placed in 
escrow.  There can be no assurance whatsoever that resolution of the 
NOL Lawsuit will result in the release of any portion of the NOL Refunds to 
Bairnco. 

Keene's plan of reorganization was approved and became effective on July 31,
1996.  The plan, as approved, creates a Creditors Trust that has succeeded 
to all of Keene's asbestos liabilities, and also has succeeded to the right 
to prosecute both the Transactions Lawsuit and the NOL Lawsuit.  The plan 
also includes a permanent injunction under which only the Creditors Trust, 
and no other entity, can sue Bairnco in connection with the claims asserted 
in the Transactions Lawsuit.  

By order entered April 10, 1997, the United States District Court for the 
Southern District of New York withdrew the reference with respect to the 
Transactions Lawsuit, that is, they transferred the case from the Bankruptcy
Court to the District Court where it will be litigated.  Responses to the 
complaint are to be filed by September 15, 1997.

Management believes that Bairnco has meritorious defenses to all claims or 
liability purportedly derived from Keene and that it is not liable, as an 
alter ego, successor, fraudulent transferee or otherwise, for the 
asbestos-related claims against Keene or with respect to Keene products. 

Bairnco Corporation and its subsidiaries are defendants in a number of other
actions. Management of Bairnco believes that the disposition of these other 
actions, as well as the actions and proceedings described above, will not 
have a material adverse effect on the consolidated results of operations or 
the financial position of Bairnco Corporation and its subsidiaries as of 
June 28, 1997.



Item 2:	OTHER INFORMATION

None.


Item 3:	SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS

None.

Item 4:	EXHIBITS

Exhibit 11.1:	Calculation of Primary and Fully Diluted Earnings per Share 
for the Quarters ended June 28, 1997 and June 29, 1996.

Exhibit 11.2:	Calculation of Primary and Fully Diluted Earnings per Share 
for the Six Months ended June 28, 1997 and June 29, 1996.





SIGNATURES



Pursuant to the requirements of the Securities Exchange Act of 1934, Bairnco
has duly caused this report to be signed on its behalf by the undersigned 
thereunto duly authorized.



BAIRNCO CORPORATION   
(Registrant)               


/s/ J. Robert Wilkinson                       
J. Robert Wilkinson                           
Vice President Finance and Treasurer
(Chief Financial Officer)                     

DATE:  August 1, 1997