[ THIS FORM 10-Q/A IS BEING REFILED IN ITS
                       ENTIRETY DUE TO FORMATTING ERRORS ]




                       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 June 30, 1998                     Commission File No. 1-8719



                            THE TURNER CORPORATION
------------------------------------------------------------------------------
            (Exact name of registrant as specified in its charter)



         DELAWARE                                       13-3209884
------------------------------------------------------------------------------
(State or other jurisdiction of            (I.R.S.Employer Identification No.)
  incorporation or organization)


  
375 Hudson Street, New York, New York                     10014
------------------------------------------------------------------------------
(Address of principal executive offices)               (Zip Code)



Registrant's telephone number, including area code:   (212) 229-6000



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 [   ]



Indicate the number of shares outstanding of each of the issuer's classes of 
common stock, as of August 5, 1998:  5,358,976 (shares outstanding giving  
effect to the 50 percent stock dividend declared on July 24, 1998 for 
shareholders of record as of August 3, 1998 are 8,038,464).


                                      -2-


                SAFE HARBOR FOR FORWARD-LOOKING STATEMENTS UNDER
                  THE SECURITIES LITIGATION REFORM ACT OF 1995

  Except for historical information contained herein, this Form 10-Q contains 
forward-looking statements within the meaning of the Private Securities 
Litigation Reform Act of 1995 which involve certain risks and uncertainties.  
The company's actual results or outcomes may differ materially from those 
anticipated.  Important factors that the company believes might cause such 
differences are discussed in the cautionary statements accompanying the 
forward-looking statements on this Form 10-Q.  In assessing forward-looking  
statements contained herein, readers are urged to carefully read those 
statements.  When used on this Form 10-Q, the words "estimate," "anticipate,"
"expect," "believe," and similar expressions are intended to identify 
forward-looking statements.


                            
                        PART I - FINANCIAL INFORMATION

Item 1   Financial Statements
------

Company or group of companies for which report is filed:


              THE TURNER CORPORATION AND CONSOLIDATED SUBSIDIARIES

  The consolidated balance sheet as of June 30, 1998, the consolidated 
statements of operations for the six months and three months ended 
June 30, 1998 and 1997, the consolidated statement of changes in 
stockholders' equity for the six months ended June 30, 1998 and the 
consolidated statements of cash flows for the six months ended 
June 30, 1998 and 1997 are unaudited, but in the opinion of the 
company's management reflect all adjustments, consisting only of normal  
recurring adjustments, which are necessary to present fairly the 
financial condition and results of operations at those dates and for those 
periods.  The results of operations for any six month and three month period 
are not necessarily indicative of results for a full year.  It is suggested 
that these financial statements be read in conjunction with the audited 
financial statements and notes thereto included in the company's latest 
annual report.


                                      -3-

                   The Turner Corporation and Subsidiaries
                         Consolidated Balance Sheets
                               (in thousands)

                                                  (unaudited)
                                                    June 30,   December 31,
                                                      1998         1997   
---------------------------------------------------------------------------
Assets

Cash and cash equivalents.......................   $  207,573   $  153,241
Marketable securities...........................       28,385       18,902
Construction receivables:
   Due on contracts.............................      314,143      334,802
   Retainage....................................      188,396      180,329
   Unbilled construction costs and 
     related earnings...........................      174,158      139,969
Real estate.....................................       43,612       44,378
Property and equipment, net.....................       23,101       23,241
Prepaid pension cost............................       62,154       62,854
Other assets....................................       15,555       14,971
                                                   ----------   ----------
Total assets....................................   $1,057,077   $  972,687
                                                   ----------   ----------
Liabilities

Construction accounts payable and 
  accrued expenses:
   Trade........................................   $  506,800   $  469,734
   Retainage....................................      208,060      189,480
   Billings in excess of construction 
     costs and related earnings                       121,061      105,021
Notes payable...................................       22,002       21,719
Deferred income taxes...........................       14,633       14,615
Other liabilities...............................      102,777       95,982
                                                   ----------   ----------
Total liabilities...............................      975,333      896,551

Stockholders' Equity

Series C, 8.5% cumulative convertible 
  preferred stock, $1 par value.................            9            9
Series D, 8.5% cumulative convertible 
  preferred stock, $1 par value.................            6            6
Series B cumulative convertible preferred 
  stock, $1 par value...........................          839          845
Common stock, $1 par value......................        8,337        5,441
Paid in capital.................................       46,812       50,250
Accumulated other comprehensive income..........           17            -
Retained earnings...............................       32,958       26,436
                                                   ----------   ----------
                                                       88,978       82,987
Less: Loan to Employee Stock Ownership Plan.....       (3,587)      (4,349)
      Treasury stock, at cost...................       (3,647)      (2,502)
                                                   ----------   ----------
Total stockholders' equity......................       81,744       76,136
                                                   ----------   ----------
Total liabilities and stockholders' equity......   $1,057,077   $  972,687
                                                   ----------   ----------


See Notes to Consolidated Financial Statements.


                                         
<TABLE>
<CAPTION>
                                      -4-

                   The Turner Corporation and Subsidiaries
                    Consolidated Statements of Operations
                     (in thousands, except share amounts)


                                                       (unaudited)             (unaudited)
                                                     Six Months Ended       Three Months Ended
                                                         June 30,                June 30,
                                                     1998        1997        1998        1997  
------------------------------------------------------------------------------------------------
<S>                                               <C>         <C>         <C>         <C>

Value of construction completed (see below).....  $1,940,054  $1,681,624  $1,033,616  $  889,286
                                                  ----------  ----------  ----------  ----------

Revenue from construction contracts.............  $1,737,854  $1,470,348  $  923,419  $  770,276
Cost of construction contracts..................   1,694,031   1,433,130     901,172     751,273
                                                  ----------  ----------  ----------  ----------
Earnings from construction contracts............      43,823      37,218      22,247      19,003
Construction operating expenses.................      27,765      24,420      14,094      12,406
General & administrative expenses...............       5,213       5,398       2,630       2,637
                                                  ----------  ----------  ----------  ----------
Income from construction operations.............      10,845       7,400       5,523       3,960
Losses from real estate operations (see below)..        (305)       (320)       (126)       (141)
Interest expense................................        (458)     (3,569)       (240)     (1,822)
Other income....................................       3,894       1,683       2,320         940
                                                  ----------  ----------  ----------  ----------
Income before income taxes......................      13,976       5,194       7,477       2,937
Income tax provision............................       6,289       2,338       3,364       1,322
                                                  ----------  ----------  ----------  ----------
Net income......................................  $    7,687  $    2,856  $    4,113  $    1,615

Earnings per common share:
   Basic........................................  $     0.81  $     0.25  $     0.44  $     0.15
   Diluted......................................  $     0.58  $     0.20  $     0.31  $     0.12

Weighted average common shares outstanding......   8,042,785   7,900,087   8,090,513   7,911,580
Weighted average common and common equivalent
   shares outstanding...........................  12,345,591  10,324,140  12,392,495  10,362,437

------------------------------------------------------------------------------------------------

Value of construction completed consists 
  of the following:

Revenue from construction contracts.............  $1,737,854  $1,470,348  $  923,419  $  770,276
Construction costs incurred by owners in
  connection with work under construction
  management and similar contracts..............     202,200     211,276     110,197     119,010
                                                  ----------  ----------  ----------  ----------
Value of construction completed.................  $1,940,054  $1,681,624  $1,033,616  $  889,286


Real estate operations consist of the following:

Real estate sales...............................  $        -  $    2,576  $        -  $    2,416
Costs of sales..................................           -      (2,576)          -      (2,416)
Rental & other income...........................         952       2,692         494       1,343
Cost of operations..............................        (503)     (1,646)       (243)       (806)
Depreciation and amortization expense...........        (754)     (1,366)       (377)       (678)
                                                  ----------  ----------  ----------  ----------
Losses from real estate operations..............  $     (305) $     (320) $     (126) $     (141)


</TABLE>
See Notes to Consolidated Financial Statements.


                                      -5-

                   The Turner Corporation and Subsidiaries
          Consolidated Statement of Changes in Stockholders' Equity
                    For the Six Months Ended June 30, 1998
                     (in thousands, except share amounts)

                                                              Comprehensive
                                                      Total      Income   
---------------------------------------------------------------------------

Retained earnings
Balance at January 1.............................   $   26,436
Net income.......................................        7,687    $   7,687 
Cash dividends on Series C preferred stock.......         (383)
Cash dividends on Series D preferred stock.......         (255)
Cash dividends on Series B preferred stock.......         (909)
Tax benefits on Series B preferred 
 stock dividends.................................          382
                                                    ----------
Balance at June 30............................          32,958
Accumulated other comprehensive income, net of tax
Balance at January 1..........................               -
Net unrealized gains on marketable securities.                           17
Other comprehensive income.......................           17             
                                                    ----------    ---------
Comprehensive income.............................                 $   7,704
                                                                  ---------
Balance at June 30...............................           17             
                                                    ----------
Convertible preferred stock, Series C
Balance at January 1 and June 30.................            9
                                                    ----------
Convertible preferred stock, Series D
Balance at January 1 and June 30.................            6
                                                    ----------
Convertible preferred stock, Series B
Balance at January 1.............................          845
Preferred stock retired..........................           (6)
                                                    ----------
Balance at June 30...............................          839
                                                    ----------
Common stock
Balance at January 1.............................        5,441
Three-for-two stock split........................        2,720
Common stock issued..............................          176
                                                    ----------
Balance at June 30...............................        8,337
                                                    ----------
Paid in capital
Balance at January 1.............................       50,250
Three-for-two stock split........................       (2,720)
Excess of proceeds over par value of 
  common stock issued                                    1,409
Tax benefits from stock options exercised........           58
Retirement of Series B preferred stock...........         (158)
Exercise of stock awards.........................       (2,027)
                                                    ----------
Balance at June 30...............................       46,812
                                                    ---------- 
Loan to Employee Stock Ownership Plan (ESOP)
Balance at January 1.............................       (4,349)
Repayment from loan to ESOP......................          762
                                                    ----------
Balance at June 30...............................       (3,587)
                                                    ----------
Treasury stock
Balance at January 1.............................       (2,502)
Purchases of treasury stock......................       (2,014)
Treasury stock issued............................          869
                                                    ----------
Balance at June 30...............................       (3,647)
                                                    ----------
Total stockholders' equity.......................   $   81,744
                                                    ----------


See Notes to Consolidated Financial Statements.


                                      -6-

                   The Turner Corporation and Subsidiaries
                    Consolidated Statements of Cash Flows
                                (in thousands)

                                                          (unaudited)
                                                       Six Months Ended
                                                           June 30,
                                                      1998          1997     
----------------------------------------------------------------------------

Cash flows from operating activities:
 Net income......................................  $    7,687     $    2,856
 Adjustments to reconcile net income to net cash
  provided by (used in) operating activities:
   Depreciation and amortization.................       4,635          5,388
   Net periodic pension charge...................         700            700
   Changes in operating assets and liabilities:
    Increase in construction receivables.........     (21,597)       (47,205)
    Increase in construction accounts payable 
     and accrued expenses........................      71,686         22,886
    Decrease (increase) in other assets..........      (2,772)         3,640
    Increase in other liabilities................       7,356          8,287
                                                   ----------     ----------
 Net cash provided by (used in) operating 
  activities.....................................      67,695         (3,448)
                                                   ----------     ----------
Cash flows from investing activities:
 Purchases of marketable securities..............     (24,391)             -
 Proceeds from sale of marketable securities.....      14,944              -
 Distributions from joint ventures...............          18              -
 Proceeds from sale of real estate, net..........           -          2,514
 Increase in real estate.........................           -           (266)
 Purchases of property & equipment...............      (2,204)        (3,888)
 Proceeds from sale of property & equipment......          27            125
 Repayments on notes receivable..................         458            891
                                                   ----------     ----------
 Net cash used in investing activities...........     (11,148)          (624)
                                                   ----------     ----------
Cash flows from financing activities:                                  
 Common stock issued.............................       1,585            352
 Cash dividends to preferred stockholders........      (1,547)        (1,296)
 Repayments from loan to ESOP....................         762            711
 Principal payments under capital lease 
  obligations....................................      (1,001)        (1,122)
 Purchases of treasury stock.....................      (2,014)          (188)
 Payments on borrowings..........................           -           (175)
                                                   ----------     ----------
 Net cash used in financing activities...........      (2,215)        (1,718)
                                                   ----------     ----------
  Net increase (decrease) in cash and 
   cash equivalents                                    54,332         (5,790)
  Cash and cash equivalents at beginning 
   of period                                          153,241        121,981
                                                   ----------     ----------
 Cash and cash equivalents at end of period......  $  207,573     $  116,191
                                                   ----------     ----------

----------------------------------------------------------------------------

Noncash investing activities:
  Note receivable from sale of net assets 
   of construction affiliate.....................  $    1,200     $        -
  Change in unrealized gain on marketable                             
   securities....................................          17              -
Noncash financing activities:
  Treasury stock issued under stock-based 
   compensation plans............................         869              -
  Capital lease obligations incurred 
   by the company................................       1,284            989
  Conversion of debenture to Series D 
   convertible preferred stock...................           -          6,000



See Notes to Consolidated Financial Statements.


                                      -7-

                   The Turner Corporation and Subsidiaries
                 Notes to Consolidated Financial Statements
                    (in thousands, except share amounts)

1.  Earnings Per Share

    The following table reconciles the components of basic and 
    diluted earnings per share.


                                                          Six Months Ended
                                                              June 30,
                                                         1998          1997  
------------------------------------------------------------------------------
Numerator:
  Net income.......................................   $    7,687    $    2,856
  Preferred stock dividends, net of tax benefits...       (1,165)         (913)
                                                      ----------    ----------
  Basic earnings per common share - income
   available for common shareholders...............        6,522         1,943
                                                      ----------    ----------
  Effect of dilutive securities (a):
   Series C preferred stock dividends..............          383             -
   Series D preferred stock dividends..............          255             -
   Series B preferred stock dividends, net of 
    tax benefits...................................          527           530
   Series B preferred stock dividend differential..         (527)         (530)
   Interest expense on Series D convertible 
    debenture, net of tax..........................            -           148
                                                      ----------    ----------
                                                             638           148
                                                      ----------    ----------

   Diluted earnings per common share - income
    available for common shareholders..............   $    7,160    $    2,091
                                                      ----------    ----------
Denominator:
   Basic earnings per common share - weighted 
    average common shares outstanding..............    8,042,785     7,900,087
                                                      ----------    ----------

   Effect of dilutive securities (a):
    Stock-based compensation plans.................      638,538       254,323
    Convertible preferred stock, Series C..........    1,500,000             -
    Convertible preferred stock, Series D..........      900,000       900,000
    Convertible preferred stock, Series B..........    1,264,268     1,269,730
                                                      ----------    ----------
                                                       4,302,806     2,424,053
                                                      ----------    ----------
   Diluted earnings per common share - 
    weighted average common and common equivalent 
    shares outstanding.............................   12,345,591    10,324,140
                                                      ----------    ----------

Basic earnings per common share....................   $     0.81    $     0.25
Diluted earnings per common share..................   $     0.58    $     0.20


(a)  The common stock equivalent shares for the six months ended
     June 30, 1997 did not include the Series C convertible preferred
     shares in the calculation of diluted earnings per common share
     because the effect would be antidilutive.


2.  Stock Split

    On July 24, 1998, the Board of Directors authorized a three-
for-two stock split, effected in the form of a 50 percent stock
dividend to be paid on August 14, 1998 to shareholders of record
on August 3, 1998.  An amount equal to the par value of the common
shares to be issued was transferred from paid in capital to common
stock.  This transfer has been reflected in the Consolidated
Statement of Changes in Common Stockholders' Equity at June 30, 1998.  
In addition, all references to number of shares and to per
share information in the consolidated financial statements have
been adjusted to reflect the stock split on a retroactive basis.


                                      -8-


3.  Accounting Pronouncements

    In February 1998, the Financial Accounting Standards Board (the
"FASB") issued Statement of Financial Accounting Standards
(SFAS) No. 132, "Employers' Disclosures about Pensions and
Other Postretirement Benefits." This statement revises
employers' disclosures about pension and other postretirement
benefit plans.  The Statement does not change the measurement or
recognition of those plans.  The Statement standardizes the
disclosure requirements for pensions and other postretirement
benefits to the extent practicable, requires additional
information on changes in the benefit obligations and fair value
of plan assets that will facilitate financial analysis, and
eliminates certain disclosures.  The disclosure requirements for
this statement are effective for fiscal years beginning after
December 15, 1997.  The Company will conform with the new standard
as of December 31, 1998.

    In June 1997, the FASB issued SFAS No. 131," Disclosures about
Segments of an Enterprise and Related Information."  This
statement requires that the Company report financial and
descriptive information about its reportable operating segments in
financial statements issued to shareholders for interim and annual
periods.  The Statement also establishes standards for related
disclosures about products and services, geographic areas and
major customers.  Under this Statement, operating segments are
components of an enterprise about which separate financial
information is available that is regularly evaluated by the
enterprise's chief operational decision-maker in deciding how to
allocate resources and in assessing performance.  This statement
is effective for fiscal years beginning after December 15, 1997.
The Company will conform with the new standard as of December 31,
1998.

    In July 1996, the Emerging Issues Task Force reached a
consensus, on Issue 96-14, "Accounting for the Costs Associated
with Modifying Computer Software for the Year 2000," which
requires that costs associated with modifying computer software
for the year 2000 be expensed as incurred.  Management has
evaluated the impact of Year 2000 issues on the Company's business
and operations.  The Company believes, based upon its internal
reviews and other factors, that future external and internal costs
to be incurred relating to the modification of internal-use
software for the year 2000 will not have a material adverse effect
on the Company's results of operations or financial position.


                                      -9-

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

    The company reported net income of $4.1 million or $0.44 basic
and $0.31 diluted earnings per share for the second quarter of
1998.  This compares to $1.6 million or $0.15 basic and $0.12
diluted earnings per share for the second quarter of 1997.  For
the first six months, net income was $7.7 million or $0.81 basic
and $0.58 diluted earnings per share compared to $2.9 million or
$0.25 basic and $0.20 diluted earnings per share a year earlier.

    Value of construction completed, which includes in addition to
revenue, construction costs incurred by owners on construction
management and similar projects, increased 16% in the second
quarter of 1998 to $1.0 billion, up $144 million over the second
quarter of 1997.  For the first six months, value of construction
completed of $1.9 billion was $258 million, or 15% higher compared
to the same period in 1997.  Revenue from construction contracts
increased 20% in the second quarter of 1998 to $923 million, up
$153 million over the second quarter of 1997.  For the first six
months, revenue from construction contracts of $1.7 billion was
$268 million, or 18% higher compared to the same period in 1997.
This growth reflects the continuation of a strong market across
the country in non-residential construction.

    Earnings from construction contracts for the second quarter of
1998 increased 17% to $22.2 million from $19.0 million a year
earlier.  For the first six months, earnings from construction
contracts increased 18% to $43.8 million compared to the same
period in 1997.  These results reflect not only the growth in
construction revenue but also an improvement in margins for new
contracts secured over the past several years.

    Construction operating expenses, which are costs incurred by
the company's construction operating units and subsidiaries that
are not directly attributable and charged to construction
contracts, for the second quarter of 1998 increased 14% to $14.1
million from $12.4 million a year earlier.  For the first six
months, expenses of $27.8 million were also 14% higher compared to
the same period in 1997.  This increase was primarily attributable
to an increase in incentive compensation expense as a result of
improved profitability levels of the company and higher levels of
construction activity.

    General and administrative expenses, representing corporate
overhead expenses, were $2.6 million for the second quarter of
1998, unchanged from a year ago.  For the first six months,
expenses declined 3% to $5.2 million compared to the same period
in 1997.

    Losses from real estate operations were $126,000 and $305,000
for the three and six month periods ended June 30, 1998,
respectively.  Rental and other income and the cost of operations
for the first six months of 1998, declined 65% and 69%,
respectively, as a result of real estate sales over the past
twelve months.

    Interest expense decreased 87% in the second quarter of 1998 to
$240,000, down $1.6 million from the second quarter of 1997.  This
decrease was due primarily to lower debt levels in 1998.  In December 
1997, the Company repaid its $39.5 million 11.74% Senior Notes.

    Other income increased 147% in the second quarter of 1998 to
$2.3 million, up $1.4 million over the second quarter of 1997.
For the first six months, other income of $3.9 million was 131% or
$2.2 million higher compared to the same period in 1997.  This
increase is due to increased interest income attributable to
higher investment balances maintained by the Company.

    At June 30, 1998, the company's backlog of value of
construction to be completed was $4.60 billion and anticipated
earnings associated with backlog from construction contracts was
$114.1 million, compared to $4.01 billion and $104.7 million,
respectively, at December 31, 1997.  This increase was
attributable to new contracts with a construction value of $1.5
billion being secured in the second quarter of 1998, a 107%
increase over the $703 million of new contracts secured in the
second quarter of 1997.  Estimated earnings from construction
contracts cannot and should not be used as the basis of
predictions with respect to future net income.

    Because of the varying proportion of construction, construction
management and construction consulting contracts, the relationship
of value of work completed and earnings from construction
contracts are not necessarily meaningful in the short run.


                                      -10-


Item 2  Management's Discussion & Analysis of Financial Condition
        and Results of Operations (continued)

     Cash flows for the six months ended June 30, 1998, resulted in
a net increase of funds of $54.3 million.  Cash flows provided by
operating activities amounted to $67.7 million due primarily to an
increase in construction activity and the timing of associated
receipts and disbursements.  Cash flows used in investing
activities amounted to $11.1 million which is principally due to
the purchases and sales of marketable securities.  Cash flows used
in financing activities amounted to $2.2 million due primarily to
the purchases of treasury stock.  In November 1997, the Company
announced the adoption of a stock repurchase program under which
up to 5 percent of the Company's common stock may be repurchased.
Repurchases may be made from time to time in the open market or in
negotiated transactions as market and economic conditions warrant
and may be discontinued at any time.  The company will fund
repurchases through internally generated funds.  The company's
management believes that the company's financial condition and
available credit facilities at June 30, 1998 are sufficient to
support the present and prospective levels of the company's
operations.


                                      -11-

                          Part II - OTHER INFORMATION


Item 6  Exhibits and Reports on Form 8-K

   (a)  Exhibit 11 - Incorporated herein by reference to Note 1 to
        the Company's Consolidated Financial Statements.

   (b)  During the six months ended June 30, 1998 no Form 8-K was
        required to be filed reporting any material or unusual
        charges or credits to income, or any change in independent
        accountants.



                                   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:


                                                THE TURNER CORPORATION 
                                                     (Registrant)




Date:  August 10, 1998                        /s/  H. J. Parmelee   
                                              ---------------------------
                                                    (Signature)
                                              H. J. Parmelee
                                              President




Date:  August 10, 1998                        /s/  D. G. Sleeman    
                                              ---------------------------
                                                    (Signature)
                                              D. G. Sleeman
                                              Senior Vice President,
                                              Chief Financial Officer and
                                              Chief Accounting Officer