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 QUARTER ENDED SEPTEMBER 30, 1995


                          COMMISSION FILE NO. 1-3920


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

          DELAWARE                                   71-0268502
    (State of Incorporation)                      (I.R.S.
Employer
                                                  Identification
No.)

                                7060 SOUTH YALE
                             TULSA, OKLAHOMA 74136
                   (Address of principal executive offices)

     Registrant's telephone number:                (918) 494-0964


     Indicate by check mark whether the registrant (1) has filed
all reports
required to be filed by Section 13 and 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    

     Indicate the number of shares outstanding of each of the
issuer's classes
of common stock, as of September 30, 1995.

Common Stock $ .10 Par Value . . . . . 3,747,498



<PAGE>
                      KINARK CORPORATION AND SUBSIDIARIES

INDEX TO QUARTERLY REPORT ON FORM 10-Q


                                                              
PAGE
PART  I.  FINANCIAL INFORMATION

     Item 1.   Financial Statements

          Independent Accountants' Report                       
2

          Condensed Consolidated Balance Sheets as
               of September 30, 1995 (unaudited), and
               December 31, 1994                                
3

          Condensed Consolidated Statements of
               Operations for the three and nine 
               months ended September 30, 1995 
               and 1994 (unaudited)                             
4

          Condensed Consolidated Statements of
               Cash Flows for the nine months ended
               September 30, 1995 and 1994 (unaudited)          
5

          Notes to Condensed Consolidated Financial
               Statements for the three and nine months
               ended September 30, 1995 and 1994 (unaudited)    
6-7

     Item 2.   Managements' Discussion and Analysis of
               Financial Condition and Results of
               Operations                                       
8-11

PART II.  OTHER INFORMATION                                     
12
SIGNATURES                                                      
13
<PAGE>
INDEPENDENT ACCOUNTANTS' REPORT


To the Board of Directors and Shareholders of
 Kinark Corporation:

We have reviewed the accompanying condensed consolidated balance
sheet of
Kinark Corporation and subsidiaries as of September 30, 1995, and
the related
condensed consolidated statements of operations for the three and
nine-month
periods ended September 30, 1995 and 1994.  These financial
statements are the
responsibility of the Corporation's management.

We conducted our review in accordance with standards established
by the
American Institute of Certified Public Accountants.  A review of
interim
financial information consists principally of applying analytical
procedures to
financial data and of making inquiries of persons responsible for
financial and
accounting matters.  It is substantially less in scope than an
audit conducted
in accordance with generally accepted auditing standards, the
objective of
which is the expression of an opinion regarding the financial
statements taken
as a whole.  Accordingly, we do not express such an opinion.

Based on our review, we are not aware of any material
modifications that should
be made to such condensed consolidated financial statements for
them to be in
conformity with generally accepted accounting principles.

We have previously audited, in accordance with generally accepted
auditing
standards, the consolidated balance sheet of Kinark Corporation
and
subsidiaries as of December 31, 1994, and the related
consolidated statements
of operations, shareholders' equity, and cash flows for the year
then ended
(not presented herein); and in our report dated January 30, 1995
(except as to
the second paragraph of the Long-Term Debt Footnote, for which
the date is
March 2, 1995), we expressed an unqualified opinion on those
consolidated
financial statements.  In our opinion, the information set forth
in the
accompanying condensed consolidated balance sheet as of December
31, 1994 is
fairly stated, in all material respects, in relation to the
consolidated
balance sheet from which it has been derived.


Deloitte & Touche LLP
November 14, 1995
Tulsa, Oklahoma
<PAGE>
                      KINARK CORPORATION AND SUBSIDIARIES
                     CONDENSED CONSOLIDATED BALANCE SHEETS

                                             Unaudited 
                                             SEPT 30        DEC
31
(Dollars in Thousands)                       1995           1994 


ASSETS    
CURRENT ASSETS
     Cash                                    $   128        $   
32
     Accounts receivable, less allowances      3,438         
3,221
     Net assets of discontinued operations       388         
2,001
     Inventories                               2,476         
2,634
     Prepaid expenses                            519           
459
        TOTAL CURRENT ASSETS                   6,949         
8,347

DEFERRED INCOME TAXES                          2,271         
1,356

OTHER ASSETS                                     150           
154

PROPERTY, PLANT AND EQUIPMENT, AT COST        29,992        
29,686
     Less:  Allowance for depreciation        21,110        
20,263
                                               8,882         
9,423

                                             $18,252       
$19,280

LIABILITIES AND SHAREHOLDERS' EQUITY
CURRENT LIABILITIES
     Trade accounts payable                  $ 1,234        $  
985
     Other accrued liabilities                 2,574         
2,655
     Current portion of long-term 
       obligations                             6,071           
554
        TOTAL CURRENT LIABILITIES              9,879         
4,194

LONG-TERM OBLIGATIONS                             84         
5,042

SHAREHOLDERS' EQUITY
     Common stock                                520           
520
     Additional paid-in capital               10,531        
10,535
     Retained earnings                         3,215         
4,969
     Less:  Treasury stock at cost            (5,977)       
(5,980)
       TOTAL SHAREHOLDERS' EQUITY              8,289        
10,044 

                                             $18,252       
$19,280 

See notes to condensed consolidated financial statements.
<PAGE>
                      KINARK CORPORATION AND SUBSIDIARIES
                CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
                                   Unaudited

                         Three Months Ended         Nine Months
Ended
                           September 30                September
30
(Dollars in Thousands      1995      1994            1995         
1994
per Share)
SALES                    $ 6,201   $ 6,830        $ 18,971      
$ 20,167

COSTS AND EXPENSES
     Cost of sales         4,902     4,751          15,352        
14,204
     Selling, general & 
       administrative        748       966           2,777        
 2,858
     Depreciation            356       373           1,142        
 1,115
                           6,006     6,090          19,271        
18,177

OTHER EXPENSE
     Interest expense, 
     net                     157       130             467        
   362

EARNINGS (LOSS) BEFORE 
INCOME TAXES                  38       610            (767)       
 1,628

INCOME TAX EXPENSE 
(BENEFIT)                     13       223            (280)       
   594

NET EARNINGS (LOSS)
     FROM CONTINUING 
      OPERATIONS              25       387            (487)       
 1,034
     FROM DISCONTINUED 
     OPERATIONS (NET OF
      TAX)                (1,036)     (545)         (1,268)       
  (445)
     
NET EARNINGS (LOSS) $     (1,011)  $  (158)       $ (1,755)     
$    589

NET EARNINGS (LOSS) PER 
COMMON SHARE
     FROM CONTINUING 
       OPERATIONS           0.01      0.10           (0.13)       
  0.28
     FROM DISCONTINUED 
       OPERATIONS
       (NET OF TAX)        (0.28)    (0.14)          (0.34)       
 (0.12)

Net Earnings (Loss) per 
  Common Share           $ (0.27)  $ (0.04)       $  (0.47)     
$   0.16



See notes to condensed consolidated financial statements.
<PAGE>
                      KINARK CORPORATION AND SUBSIDIARIES
                CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
                                   Unaudited

                                                            Nine
Months Ended
                                                              
September 30 
(Dollars in Thousands)                                   1995     
     1994

CASH FLOWS FROM OPERATING ACTIVITIES
Net Earnings (Loss)                                    $(1,755)   
   $   589
Adjustments to reconcile net earnings to net
  cash provided by operating activities:
     Loss (Gain) from discontinued 
       operations                                        1,268    
       445
     Depreciation                                        1,142    
     1,115
     Change in assets and liabilities:
          Accounts receivable                             (217)   
      (229)
          Deferred tax asset                              (186)   
       571
          Inventories and other                            102    
      (175)
          Accounts payable and
            other accrued liabilities                      168    
       377
     NET CASH PROVIDED BY OPERATING ACTIVITIES             522    
     2,693

CASH FLOWS FROM INVESTING ACTIVITIES
     Capital expenditures                                 (601)   
      (937)
     Discontinued operations                              (384)   
    (1,072)
     NET CASH USED FOR INVESTING 
     ACTIVITIES                                           (985)   
    (2,009)

CASH FLOWS FROM FINANCING ACTIVITIES
     Proceeds from current and 
       long-term obligations                            11,231    
     9,616
     Payments on current and 
       long-term obligations                           (10,672)   
   (10,460)
     NET CASH PROVIDED BY (USED FOR)
       FINANCING ACTIVITIES                                559    
      (844)

INCREASE (DECREASE) IN CASH                                 96    
      (160)

CASH AT BEGINNING OF PERIOD                                 32    
       160 

CASH AT END OF PERIOD                                  $   128    
   $     0 

See notes to condensed consolidated financial statements.
<PAGE>
                      KINARK CORPORATION AND SUBSIDIARIES
             NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
        FOR THE THREE AND NINE MONTHS ENDED SEPTEMBER 30, 1995
AND 1994
                                   UNAUDITED


NOTE 1.   BASIS OF PRESENTATION

          The condensed consolidated financial statements
included in this
          report have been prepared by Kinark Corporation (the
Company)
          pursuant to the rules and regulations of the Securities
and Exchange
          Commission for interim reporting and include all normal
and recurring
          adjustments which are, in the opinion of management,
necessary for a
          fair presentation.  These financial statements have not
been audited
          by an independent accountant.  The condensed
consolidated financial
          statements include the accounts of the Company and its
subsidiaries.

          Certain information and footnote disclosures normally
included in
          financial statements prepared in accordance with
generally accepted
          accounting principles have been condensed or omitted
pursuant to such
          rules and regulations for interim reporting.  The
Company believes
          that the disclosures are adequate to make the
information presented
          not misleading.  However, these financial statements
should be read
          in conjunction with the financial statements and notes
thereto
          included in the Company's Annual Report on Form 10-K
for the year
          ended December 31, 1994.  The financial data for the
interim periods
          presented may not necessarily reflect the results to be
anticipated
          for the complete year.

NOTE 2.   EARNINGS PER COMMON SHARE

          Net earnings (loss) per common share for the periods
presented has
          been computed based upon the weighted average number of
shares
          outstanding of 3,747,000 and 3,753,000 for the three
months ended
          September 30, 1995 and 1994 respectively, and 3,747,000
and 3,753,000
          for the nine months ended September 30, 1995 and 1994
respectively,
          including the effect of stock options, when applicable,
using the
          treasury method.

NOTE 3.   INVENTORIES

          Inventories consist primarily of zinc, the principal
raw material
          used in galvanizing.

NOTE 4.   LONG-TERM OBLIGATIONS

          During 1995, the company has operated under a bank
credit agreement
          which provides a $4,250,000 maximum revolving line of
credit and a
          term loan, both of which expire in March 1996.  The
Company intends
          to renew this agreement upon expiration in the normal
course of
          business.  However, because the current agreement
expires in less
          than one year, all obligations under the Company's bank
credit
          agreement are treated as current liabilities in the
September 30,
          1995 balance sheet.

NOTE 5.   DISCONTINUED OPERATIONS

          During the third quarter, the Company announced that it
would divest
          its Kinpak subsidiary due to continuing losses at this
operation. 
          Kinpak, located in Montgomery, Alabama, produces and
sells
          proprietary household cleaning products and contract
packages private
          label antifreeze and windshield washer fluid.  In
connection with
          this disposition, the Company recorded a pretax charge
of $1,525,000
          to reduce the assets of Kinpak to their estimated net
realizable
          value and recognize estimated operating losses of
$185,000 to be
          incurred during the disposal period.  Revenues and
expenses of Kinpak
          are not included in the results of continuing
operations.<PAGE>
                    MANAGEMENT'S DISCUSSION AND ANALYSIS OF
                 RESULTS OF OPERATIONS AND FINANCIAL CONDITION

RESULTS OF CONTINUING OPERATIONS

THIRD QUARTER ANALYSIS

     During the third quarter, the Company announced that it
would divest its
Kinpak subsidiary by the end of 1995 due to continuing losses at
this
operation.  As a result, this subsidiary has been classified as a
discontinued
operation for accounting purposes.  Revenues and expenses of
Kinpak are not
included in the results of continuing operations analyzed below.

REVENUES

     Quarter Ended                 1995                1994
     September 30                       % of                % of
                              $(000)    Sales     $(000)    Sales

     Boyles Galvanizing       $4,210    67.9%     $4,008    58.7%
     Lake River Corporation    1,991    32.1%      2,822    41.3%
          Total               $6,201   100.0%     $6,830   100.0%

     Consolidated sales for the third quarter of 1995 decreased
$629,000, or
9.2%, in comparison to the third quarter of 1994.  Sales
increased at the
Company's Boyles subsidiary, but this increase was more than
offset by the
sales decline at Lake River.   Boyles sales were up $202,000, or
5.0%, on
improved volume.  Galvanizing throughput totaled 17,371 tons,  up
5.1% from the
prior year's third quarter.  The average selling price during the
third quarter
at Boyles has changed very little from 1994.  Boyles continued to
focus on
increasing market share with its aggressive pricing approach and
succeeded in
raising volume in comparison to last year as it has in each of
the first three
quarters of 1995.

     Third quarter sales at Lake River declined $831,000, or
29.4%, from 1994
due to the previously announced loss of this subsidiary's largest
customer
during the fourth quarter of 1994.  Lake River sales were also
down from the
second quarter of 1995 due primarily to normally scheduled summer
plant
shutdowns in the Chicago area.  Warehousing revenues continued to
show
improvement at Lake River partially offsetting the decline in
terminal sales.

          Nine Months Ended           1995             1994 
          September 30                  % of           % of
                              $(000)    Sales     $(000)    Sales

     Boyles Galvanizing       $12,829   67.6%     $11,690   58.0%
     Lake River Corporation     6,142   32.4%       8,477   42.0%
     Total                    $18,971  100.0%     $20,167  100.0%

     Through the first three quarters of the year, sales on a
consolidated
basis declined $1,196,000, or 5.9%, from 1994 because of the
significant sales
decline at Lake River which was partially offset by improved
sales at Boyles. 
Sales were down at Lake River due to the customer loss discussed
above.  Boyles
sales were up $1,139,000, or 9.7%, on much stronger volume
through the first
three quarters of the year.

     The Company expects sales to continue to show improvement at
Boyles for
the balance of the year in comparison to last year while Lake
Rivers revenues
will fall below 1994 for the remainder of the year due to the
customer loss at
this subsidiary.

COSTS AND EXPENSES

     Quarter Ended            1995                1994
     September 30                  % of                % of
                         $(000)    Sales     $(000)    Sales

     Cost of sales  $    4,902     79.0%     $4,751    69.6%
     Selling, general &
      administrative       748     12.1%        966    14.1%
     Depreciation          356      5.8%        373     5.4%
     Total          $    6,006     96.9%     $6,090    89.1%

     As a percentage of sales, cost of sales increased 9.4%
during the third
quarter of 1995 in comparison to 1994.  This increase was
primarily
attributable to Lake River where reduced sales, as discussed
above, coupled
with significant fixed costs associated with this subsidiary's
terminal
operations resulted in a 22% erosion in gross profit.  Boyles'
cost of sales
percentage also increased during the third quarter, up
approximately 3.5% from
1994 due to increased material cost.  The cost of sales
percentage has
stabilized to a large degree and should continue in the current
range for the
balance of the year.

     Selling, general and administrative ("S, G & A") expenses
for the third
quarter of 1995 declined $218,000 from the prior year's third
quarter.  This
decrease was primarily attributable to reduced S, G & A expenses
at Boyles
which resulted from  the consolidation of administrative offices
during the
second quarter.  Compared to last year,  S, G & A expenses at
Boyles declined
43% during the third quarter.  Lake River third quarter S, G & A
expenses also
declined 23% compared to 1994 as various administrative expenses
have been
eliminated during the year in connection with the customer loss. 
S, G & A
expenses increased approximately 7% at Kinark's corporate office
during the
third quarter due primarily to increased legal and professional
fees.  The
Company expects the reduction in S, G & A expenses to continue
through the
remainder of the year.

     Nine Months Ended        1995                1994
     September 30                  % of                % of
                         $(000)    Sales     $(000)    Sales

     Cost of sales       $15,352   80.9%     $14,204   70.4%
     Selling, general &
      administrative       2,777   14.7%       2,858   14.2%
     Depreciation          1,142    6.0%       1,115    5.5%
     Total               $19,271   101.6%    $18,177   90.1%

     The Company's cost of sales percentage increased 10.5%
through the first
three quarters of the year compared to 1994.  Lake River
experienced the
greatest increase in percentage due to the decline in sales
previously
discussed.  Boyles also experienced increased cost of sales as a
percentage of
sales due to higher material cost.

     S, G & A expenses decreased $81,000 over the first nine
months of 1995 in
comparison to 1994.  Boyles and Lake River reduced S, G & A
expenses as
previously discussed.  S, G & A expenses at the Kinark corporate
office were up
20% due primarily to increased legal and professional expenses
associated with
certain transactions which were not consummated.

OTHER EXPENSE

     Interest expense for the third quarter of 1995 was up
$27,000 compared to
1994 due to the Company's increased bank debt and higher interest
rate.  For
the nine month period, interest was up $105,000 in the current
year compared to
1994.  This trend is expected to continue because the Company's
operating
losses and loss from discontinued operations have resulted in
increased
borrowing.

INCOME TAXES

     The Company recorded an income tax expense of $13,000 for
the third
quarter of 1995, down from $223,000 for the comparable period in
1994.  This
reduction resulted from the Company's reduced earnings from
continuing
operations in the third quarter of 1995.  Tax expense includes
federal income
tax recorded at current rates and state income tax provisions for
various
Company operations.

EARNINGS FROM CONTINUING OPERATIONS

     The Company recorded earnings from continuing operations of
$25,000, or $
 .01 per share. While down significantly from the third quarter of
1994, this
represents an improvement from the first two quarters of 1995
which were
unprofitable.   On a year to date basis, the Company's loss from
continuing
operations totaled $(487,000), or $(.13) per share.

LIQUIDITY AND CAPITAL RESOURCES

     The Company's cash provided by operating activities through
the nine
months ended September 30, 1995 totaled $522,000, down from
$2,693,000 in the
prior year.  This decline resulted primarily from the Company's
loss from
continuing operations in 1995.

     Cash used for investing activities declined to $985,000
through the third
quarter of 1995, a reduction of $1,024,000 from 1994.  The major
factor in this
reduction was the decline in cash used by the Company's Kinpak
operation which
is now treated as a discontinued operation pending the
disposition of this
facility.  In addition, capital expenditures were reduced from
the 1994 level
to conserve cash.

     The Company utilized its credit facilities to fund the cash
used by
operating and investing activities through the first three
quarters, resulting
in cash provided by financing activities of $559,000. 
Outstanding borrowings
on the Company's $4,250,000 revolving line of credit totaled
$2,564,000 at
September 30,1995, reflecting an improvement in liquidity from
the second
quarter as expected.  The Company has controlled capital
expenditures and S, G
& A expenses at reduced levels to maintain adequate liquidity
through the
losses incurred during the first three quarters of 1995.

     The Company continues to evaluate alternative financing
plans to complete
the previously announced purchase of Rogers Galvanizing Company.  
The
subordinated debt financing proposal provided by the company's
chairman has
been withdrawn.  Other financing proposals including equity to be
provided by a
rights offering of common stock to the Company's stockholders to
raise the
needed financing are under consideration.

DISCONTINUED OPERATIONS

     During the third quarter, the Company announced that it
would divest its
Kinpak subsidiary due to continuing losses at this operation.  In
connection
with this disposition, the Company recorded a pretax charge of
$1,525,000 to
reduce the assets of Kinpak to their estimated net realizable
value.  The
Company has received tentative offers to purchase Kinpak at
values in excess of
the currently recorded net realizable value and plans to complete
the
disposition of Kinpak by year-end.<PAGE>
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) Exhibits

               Not applicable.

            b) Reports on Form 8-K

               Not applicable.<PAGE>

SIGNATURES


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



                                        KINARK CORPORATION      
                                            Registrant



                                   /S/J. Bruce Lancaster          

                                     J. Bruce Lancaster
                                Vice President - Finance
                              (Principal Financial Officer)


Date:   November 14, 1995