SECURITIES AND EXCHANGE COMMISSION

                          Washington, D.C.  20549


                                     


                                 FORM 11-K
                                     
           FOR ANNUAL REPORT OF EMPLOYEE STOCK PURCHASE, SAVINGS
            AND SIMILAR PLANS PURSUANT TO SECTION 15(d) OF THE
                      SECURITIES EXCHANGE ACT OF 1934
                                     
            [X]  ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE
                      SECURITIES EXCHANGE ACT OF 1934
                                     
                For the fiscal year ended December 31, 1997
                                     
                                    OR
                                     
            [ ]  TRANSITION REPORT PURSUANT TO SECTION 15(d) OF
                    THE SECURITIES EXCHANGE ACT OF 1934
                                     
                                     
                    Commission file number:   33-41313
                                     
                                     
A.   Full title of the plan and the address of the plan,
     if different from that of the issuer named below:
                                     
                        Bairnco Corporation 401(k)
                          Savings Plan and Trust
                                     
B.   Name of issuer of the securities held pursuant to
     the plan and the address of its principal executive office:
                                     
                            Bairnco Corporation
                              2251 Lucien Way
                          Maitland, Florida 32751
                                     
                                     
            REPORT OF INDEPENDENT CERTIFIED PUBLIC ACCOUNTANTS
                                     

To the Advisory Committee of
Bairnco Corporation 401(k) Savings Plan and Trust:

We  have  audited the accompanying statements of net assets  available
for  benefits of Bairnco Corporation 401(k) Savings Plan and Trust  as
of December 31, 1997 and 1996, and the related statement of changes in
net  assets  available for benefits for the year  ended  December  31,
1997.  These financial statements and the schedules referred to  below
are  the  responsibility of the Plan's management.  Our responsibility
is  to  express an opinion on these financial statements and schedules
based on our audits.

We conducted our audits in accordance with generally accepted auditing
standards.  Those standards require that we plan and perform the audit
to  obtain reasonable assurance about whether the financial statements
are free of material misstatement.  An audit includes examining, on  a
test  basis,  evidence supporting the amounts and disclosures  in  the
financial statements.  An audit also includes assessing the accounting
principles used and significant estimates made by management, as  well
as  evaluating  the  overall  financial  statement  presentation.   We
believe that our audits provide a reasonable basis for our opinion.

In  our  opinion, the financial statements referred to  above  present
fairly,  in  all  material  respects, the  net  assets  available  for
benefits  of the Bairnco Corporation 401(k) Savings Plan and Trust  as
of  December  31,  1997 and 1996, and the changes in  its  net  assets
available  for  benefits  for the year ended  December  31,  1997,  in
conformity with generally accepted accounting principles.

Our  audits  were made for the purpose of forming an  opinion  on  the
basic  financial  statements  taken  as  a  whole.   The  supplemental
schedules  of reportable transactions, assets held for investment  and
transactions  with parties in interest are presented for  purposes  of
complying  with  the  Department of Labor Rules  and  Regulations  for
Reporting and Disclosure under the Employee Retirement Income Security
Act  of  1974  and  are  not a required part of  the  basic  financial
statements.   Such  schedules  have been  subjected  to  the  auditing
procedures  applied  in the audits of the basic  financial  statements
and,  in our opinion, are fairly stated, in all material respects,  in
relation to the basic financial statements taken as a whole.


Orlando, Florida
February 13, 1998
                                             Arthur Andersen LLP



<TABLE>
                              BAIRNCO CORPORATION
                         401(k) SAVINGS PLAN AND TRUST
                STATEMENTS OF NET ASSETS AVAILABLE FOR BENEFITS
                        AS OF DECEMBER 31, 1997 AND 1996
                                     

<CAPTION>

                                                1997          1996
<S>                                             <C>           <C>
ASSETS

INVESTMENTS, at fair market value (Notes 2 & 3)
  Bairnco common stock                          $  277,830    $  181,378
  Mutual funds                                   3,873,674     2,805,520
  Participant notes receivable                     108,523        42,633

    TOTAL INVESTMENTS                            4,260,027     3,029,531

RECEIVABLES

  Participants' contributions                       69,647        67,678
  Accrued investment income                          1,396         1,289
     
    TOTAL RECEIVABLES                               71,043        68,967

    TOTAL ASSETS                                 4,331,070     3,098,498

NET ASSETS AVAILABLE FOR BENEFITS               $4,331,070    $3,098,498
</TABLE>







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

<TABLE>
                              BAIRNCO CORPORATION
                         401(k) SAVINGS PLAN AND TRUST
           STATEMENT OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS
                      FOR THE YEAR ENDED DECEMBER 31, 1997
                                     
                                    (Note 6)


<CAPTION>
                                                           1997
<S>                                                        <C>
NET ASSETS AVAILABLE FOR BENEFITS, beginning of year       $3,098,498

ADDITIONS:
  Participants' contributions                               1,172,323
  Interest and dividends                                      216,775
  Net realized and unrealized appreciation on 
    investments (Note 2)                                      505,548
                                                            1,894,646
DEDUCTIONS:
  Distributions                                               659,088
  Administrative expenses                                       2,986
                                                              662,074

NET INCREASE                                                1,232,572

NET ASSETS AVAILABLE FOR BENEFITS, end of year             $4,331,070







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


                              BAIRNCO CORPORATION
                         401(k) SAVINGS PLAN AND TRUST
                         NOTES TO FINANCIAL STATEMENTS
                           DECEMBER 31, 1997 and 1996


1.   PLAN DESCRIPTION:

     The  following  description of the Bairnco Corporation 401(k)  Savings
Plan and Trust (the "Plan") provides only general information. Participants
of the Plan should refer to the Plan document for a complete description of
the  Plan's  provisions.   The  Plan document  is  available  from  Bairnco
Corporation  ("Bairnco" or the "Corporation") at its offices  in  Maitland,
Florida.

General

     Bairnco  established the Plan effective July 1, 1991.  The Plan  is  a
defined  contribution  plan  under which  all  full-time  employees  become
eligible  for  participation  on  the first  day  of  the  month  following
completion  of  thirty days of service.  Once an employee becomes  eligible
for  participation, salary deferrals (contributions) may  commence  on  any
subsequent  date.  The Plan excludes non-resident aliens, leased  employees
and   independent  contractors  from  participating  in  the  Plan.   Union
employees of the Corporation are permitted to participate in the Plan.  The
Plan  is  subject  to  the Department of Labor Rules  and  Regulations  for
Reporting and Disclosure under the Employee Retirement Income Security  Act
of 1974 ("ERISA").

Contributions

     Under  the terms of the Plan, allowable contributions are outlined  as
follows:
       
       Participant Contributions - The participants may elect  to  defer  a
       minimum  of  1% and a maximum of 20% of compensation, as defined  in
       the  Plan, not to exceed $9,500 for 1997.  The maximum dollar amount
       that  may  be deferred is adjusted annually by the Internal  Revenue
       Service.   The  amount of the compensation which is  deferred,  plus
       any  earnings  or losses on that amount, is not subject  to  federal
       income  tax  until  the  funds  are  actually  distributed  to   the
       participant  by  the Plan.  However, contributions  are  subject  to
       FICA (Social Security and Medicare Taxes).
       
       
       Employer  Contributions - The Corporation does  not  match  elective
       deferrals pursuant to the Plan.
       
Participant Accounts

     Each   participant's  account  is  credited  with  the   participant's
contribution  and  allocations  of  Plan  earnings,  and  charged  with  an
allocation   of  administrative  expenses.   Allocations   are   based   on
participant  account  balances,  as  defined.   The  benefit  to  which   a
participant  is  entitled  is the amount that  can  be  provided  from  the
participant's vested account.


Vesting

     A  participant  shall  at all times have a 100 percent  nonforfeitable
interest  in the value of his/her account attributable to all contributions
made  plus  or  minus  investment earnings and losses thereon  and  related
administrative costs.

Transfers From Other Qualified Plans

      Participants  who  have an interest in any other  qualified  employee
benefit plan (as described in Section 401(a) of the Internal Revenue  Code)
may  transfer the distributions from these plans directly into the Plan  at
the discretion of the Administrative Committee (see Note 4).


Distributions

     A  participant  who  has attained age 59-1/2 may elect,  by  filing  a
written  application  with the Administrative Committee,  to  withdraw  any
amount up to 100 percent of the vested portion of his/her account, for  any
reason.  For participants who have not attained age 59-1/2, the reasons for
such withdrawals are restricted to those defined in the Plan.

     Upon  termination of employment, a participant can elect to  have  the
balance  in the participant's account distributed to the participant  in  a
single lump sum cash distribution or a partial distribution if requested in
writing  by the participant.  As an alternative, the participant  may  also
elect  to leave the related funds in the Plan or transfer the related funds
into another qualified plan.

Participant Notes Receivable

      An  active  participant may borrow from his/her account a minimum  of
$1,000  up  to a maximum equal to the lesser of (1) a total of  $50,000  of
borrowings within one year or (2) 50% of the participant's account balance.

     Loan transactions are treated as transfers between the investment fund
and  the  participant notes receivable account.  Loan terms range from  1-5
years or up to 15 years for the purchase of a primary residence.  The loans
are  secured by the balance in the participant's account and bear  interest
at  the prime rate at the time of borrowing plus 2%.  During 1997, interest
rates  ranged  from  10.25%  to 10.5%.  Principal  and  interest  are  paid
quarterly through payroll deductions.  As of December 31, 1997, there  were
43 loans outstanding.


2.   SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES:

     Use of Estimates-

      The  preparation of financial statements in conformity with generally
accepted  accounting principles requires management to make  estimates  and
assumptions that affect the reported amounts of assets and liabilities  and
disclosure  of  contingent  assets and  liabilities  at  the  date  of  the
financial  statements and the reported amounts of additions and  deductions
from  the  net  assets available for benefits during the reporting  period.
Actual results could differ from those estimates.

     Basis Of Accounting-
     
     For  the year ended December 31, 1997, the accounting records  of  the
Plan  and  the  Plan's  assets were maintained by  Schwab  Retirement  Plan
Services,  Inc. ("Schwab") a subsidiary of the Charles Schwab  Corporation.
The  participants'  account  balances are determined  on  the  cash  basis;
however, the Plan's financial statements contained herein are presented  on
an accrual basis.

     Investment Valuation and Income Recognition-
     
     Investments  are  stated at fair market value.  Securities  which  are
traded  on  a national securities exchange are valued at the last  reported
sales  price on the last business day of the year. Any unlisted  securities
are  valued  at the bid price next preceding the close of business  on  the
valuation  date.  Participant notes receivable are valued  at  cost,  which
approximates fair value.

     Any unrealized appreciation/depreciation on investments represents the
difference between fair value of investments at the beginning of  the  Plan
year  or  when  acquired,  whichever  is  later,  and  the  fair  value  of
investments at the end of the Plan year.

     Interest income is recognized on the accrual basis.

     Administrative Expenses-

      Administrative expenses of the Plan are paid directly by  Bairnco  on
behalf of the Plan.  During the year ended December 31, 1997, Bairnco  paid
administrative expenses of approximately $15,205.
     
     Benefit Payments-

     Benefits are recorded when paid.

     
3.   INVESTMENTS:

     There are currently six investment options into which participants may
direct  the investment of their accounts.  These are the Invesco  Strategic
Technology  Fund,  Founders Growth Fund, Schwab 1000  Equity  Fund,  Strong
Government   Securities   Fund  and  the  Schwab  Retirement   Money   Fund
(collectively the "mutual funds"), and the Bairnco Corporation Common Stock
Fund  ("Bairnco  common  stock fund").  Participants  invest  in  units  of
participation  of the fund which represents an undivided  interest  in  the
underlying  assets  of  the fund.  Participants may separately  direct  the
investment of future deferrals and existing account balances into these six
investment  options  in increments of 5%.  Participants  are  permitted  to
modify  their elections for future deferrals and existing account  balances
between investment funds on a daily basis.

      All  the investments represent 5% or more of the net assets available
for benefits (see Note 6).


4.   TRUST AGREEMENT:

Schwab  is the Plan's Trustee pursuant to the Plan document which is signed
by  the  Corporation and Plan Trustee.  Schwab manages the Plan assets  and
makes  distributions to participants as directed by the Plan Administrator.
The  Administrative Committee of the Corporation is the Plan Administrator.
Expenses  incurred  by  the Plan Trustee or the Plan Administrator  in  the
performance  of their duties may be paid by the Plan or the Corporation  at
the  Corporation's discretion.  During 1997, all investment managers'  fees
were paid directly by the Plan.


5.   PLAN TERMINATION:

     Although  it  has  not expressed any intent to do so, the  Corporation
reserves  the right under the Plan to terminate the Plan, in  whole  or  in
part, at any time.  In the event of the Plan's termination, the Plan assets
will  be  distributed  to  the participants in lump  sum  distributions  or
transferred to another qualified plan at the direction of the participant.

6.    CHANGES IN NET ASSETS BY INVESTMENT FUND:

     The  following  schedule presents changes in the net assets  available
for benefits of the investment funds for the year ended December 31, 1997:
     
<TABLE>
<CAPTION>
               Invesco             Schwab      Strong     Schwab     Bairnco                    
               Strategic  Founders 1000        Government Retirement Common    Participant           
               Technology Growth   Equity      Securities Money      Stock     Notes       Other     
               Fund       Fund     Fund        Fund       Fund       Fund      Receivable  Receivable Total
<S>            <C>        <C>      <C>         <C>        <C>        <C>       <C>         <C>        <C>                          
Net assets                                                                        
 available                                                                   
 for benefits, 
 01-01-97      $142,077   172,271  1,391,710   474,789    624,673    181,378   42,633      68,967     3,098,498
                                                                            
Additions:
Participant 
 contributions  202,107   340,361    278,904   128,233     97,466     48,485    5,831      70,936     1,172,323
Interest and 
 dividends       61,294    76,126     18,688    28,289     26,138      6,133      --          107       216,775
Net                                                                         
 realized and                                                                    
 unrealized 
 appreciation 
 (depreciation)
 on investments (44,641)    8,435    438,062    13,751        --      89,941      --          --        505,548
Loan repayments   1,094     1,458      2,418       447        173        241   (5,831)        --            --
Transfers from 
 other funds     38,885    63,160     87,815    49,752     33,120     25,676      --          --        298,408
                258,739   489,540    825,887   220,472    156,897    170,476      --       71,043     2,193,054
Deductions:
Distributions   (55,939)  (76,835)  (221,550)  (82,419)  (109,615)   (37,314)  (6,449)    (68,967)     (659,088)
Loans           (13,472)  (11,624)   (42,294)  (10,067)    (9,150)    (6,187)  92,794         --            --
Administrative 
 expenses          (351)     (456)    (1,280)     (376)      (381)      (142)     --          --         (2,986)
Transfers to 
 other funds    (19,036)  (20,975)   (45,303)  (36,905)  (125,353)   (30,381) (20,455)        --       (298,408)
                (88,798) (109,890)  (310,427) (129,767)  (244,499)   (74,024)  65,890     (68,967)     (960,482)
Net assets                                                                      
 available                                                                   
 for benefits,
 12-31-97      $312,018   551,921  1,907,170   565,494    537,071    277,830  108,523      71,043     4,331,070
</TABLE>


7.   TRANSACTIONS WITH PARTIES IN INTEREST:

     Under  ERISA,  the Plan is required to report investment  transactions
with  and  compensation paid to a "party in interest".  The term "party  in
interest" is broadly defined but includes Bairnco Corporation as the Plan's
sponsor,  Schwab,  as  Plan Trustee, and any person  or  corporation  which
renders  services  to  the  Plan.  Certain fees for  legal  and  accounting
services provided in connection with the Plan were paid by the Plan sponsor
on  behalf  of  the  Plan during these years and are not  included  in  the
accompanying financial statements. Additional fees paid by the Plan  during
1997 for services rendered by parties in interest were based on rates which
the Plan's Administrator believes were customary and reasonable.


8.   INCOME TAX STATUS:

     The  Plan obtained its latest determination letter on April 29,  1997,
in  which  the  Internal  Revenue Service stated that  the  Plan,  as  then
designed,  was  in  compliance  with the  applicable  requirements  of  the
Internal  Revenue Code.  The plan administrator and legal  counsel  believe
that the Plan is currently being operated in compliance with the applicable
requirements of the Internal Revenue Code.


9.   SUPPLEMENTAL SCHEDULES:

     Supplemental Schedule I lists the reportable transactions of the  Plan
     for the year ended December 31, 1997.  Purchases and sales are made at
     fair market value on the date of transaction.

     Supplemental Schedule II lists the Plan assets held for investment  at
December 31, 1997.

     Supplemental Schedule III lists transactions with parties in  interest
     of the Plan for the year ended December 31, 1997.

<TABLE>
                                                                SCHEDULE  I

                            BAIRNCO CORPORATION
                       401(k) SAVINGS PLAN AND TRUST
                    SCHEDULE OF REPORTABLE TRANSACTIONS
                   FOR THE YEAR ENDED DECEMBER 31, 1997

<CAPTION>
                                                                    Sales
                                                Sales     Sales     Net Gain
Description of Transaction          Purchases   Cost      Proceeds  (Loss)
<S>                                 <C>         <C>       <C>       <C>
Purchases:
  Founders Growth Fund              $  479,647
  Invesco Strategic Technology Fund    302,286
  Schwab Retirement Money Fund         156,724
  Schwab 1000 Equity Fund              385,407
  Strong Government Securities Fund    206,274

Sales:
  Founders Growth Fund                          $ 95,468  $108,432  $12,964
  Invesco Strategic Technology Fund               86,306    87,704    1,398
  Schwab Retirement Money Fund                   244,691   244,326     (365)
  Schwab 1000 Equity Fund                        250,400   308,009   57,609
  Strong Government Securities Fund              126,563   129,320    2,757

       Total All Funds              $1,530,338  $803,428  $877,791  $74,363




The accompanying notes are an integral part of this schedule.
</TABLE>

<TABLE>

                                                                SCHEDULE II
                                     
                            BAIRNCO CORPORATION
                       401(k) SAVINGS PLAN AND TRUST
                  SCHEDULE OF ASSETS HELD FOR INVESTMENT
                          AS OF DECEMBER 31, 1997

<CAPTION>
                                        Fair Market
Description                             Value (Note 2)     Cost
<S>                                     <C>                <C>  
Cash Equivalents
  Schwab Money Market Fund              $      335         $      326

Common Stocks
  Bairnco Corporation                      277,495            172,105

     Total Bairnco Common Stock Fund    $  277,830         $  172,431

Mutual Funds
  Invesco Strategic Technology Fund     $  312,018         $  371,255
  Founders Growth Fund                     551,921            563,904
  Schwab 1000 Equity Fund                1,907,170          1,399,708
  Strong Government Securities Fund        565,494            541,725
  Schwab Retirement Money Fund             537,071            536,706

     Total Mutual Funds                 $3,873,674         $3,413,298

Other Investments
  Participant Notes Receivable          $  108,523         $  108,523

     Total                              $4,260,027         $3,694,252




The accompanying notes are an integral part of this schedule.
</TABLE>
                                                                           
                                                                           
<TABLE>
                                                                           
                                                               SCHEDULE III

                            BAIRNCO CORPORATION
                       401(k) SAVINGS PLAN AND TRUST
             SCHEDULE OF TRANSACTIONS WITH PARTIES IN INTEREST
                   FOR THE YEAR ENDED DECEMBER 31, 1997

<CAPTION>

Description                                             Amount

<S>                                                     <C>
Sold 9,222 shares of Bairnco Corporation Common
  Stock between $6.875 and $10.8125 per share           $73,991


Purchased 9,866 shares of Bairnco Corporation Common
  Stock between $7.125 and $10.4375 per share           $80,294






The accompanying notes are an integral part of this schedule.
</TABLE>


                           SIGNATURE


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


                                                 BAIRNCO CORPORATION 401(K)
                                                     SAVINGS PLAN AND TRUST
                                                             (Name of Plan)




Date: February 13, 1998                  By: /s/ J. ROBERT WILKINSON
                                             J. ROBERT WILKINSON
                                             Administrative Committee Member