November 13, 1995







Securities and Exchange Commission
450 Fifth St., N.W.
Judiciary Plaza
Washington, D.C.  20549-1004

Via Edgar Electronic Filing System

                                                      In Re:  File Number 0-9219
                                                              ------------------

Gentlemen:

      Pursuant  to  regulations  of  the   Securities  and  Exchange Commission,
submitted herewith for  filing on behalf  of  AVOCA INCORPORATED (the "Company")
is the Company's Report on Form 10-QSB for  the period ended September 30, 1995.

      This  filing is being effected by direct transmission  to the Commission's
EDGAR System.

                                   Sincerely,


                                   /s/ Edward B. Grimball
 
                                   Edward B. Grimball
                                   Executive Vice President &
                                   Chief Financial Officer
                                   (504) 586-7570

EBG/drm




<PAGE>

                      U.S. Securities and Exchange Commission

                                Washington, D.C. 20549

                                     FORM 10-QSB

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

For the quarterly period ended  September 30, 1995
                                ------------------------------------------------

[ ]  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 0-9219
                       ---------------------------------------------------------

                                AVOCA, INCORPORATED
--------------------------------------------------------------------------------
        (Exact name of small business issuer as specified in its charter)


     Louisiana                                               72-0590868
  ------------------------------------------------------------------------------
  (State or other jurisdiction of            (I.R.S. Employer Identificaton No.)
   incorporation or organization)


                  P.O. Box 61260, New Orleans, Louisiana 70161
--------------------------------------------------------------------------------
                    (Address of principal executive offices)

                              (504) 552-4720
--------------------------------------------------------------------------------
                       (Issuer's telephone number)


--------------------------------------------------------------------------------
             (Former name, former address and former fiscal year,
                        if changed since last report)

Check  whether the issuer (1) filed all reports  required to be filed by Section
13 or 15(d) of the  Exchange  Act during the past 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
                                                             ---   ---

State the number of shares outstanding of each of the issuer's classes of common
equity, as of the latest practicable date:   830,500 shares on October 31, 1995
                                          --------------------------------------

Transitional Small Business Disclosure Format (check one);  Yes        No    X
                                                                ------    -----
An exhibit index is located at page 12 of this report.
                                   

                              Page 1 of 12 Pages
<PAGE>







                              AVOCA, INCORPORATED
                              -------------------

                                   I N D E X
                                   ---------



                                                                     Page No.
                                                                     --------
Part I.           Financial Information (Unaudited)
                  ---------------------

                  Condensed Balance Sheet -
                       September 30, 1995                               4


                  Condensed Statements of Income
                           Three  Months Ended  
                           September  30, 1995 and 1994
                           and Nine Months Ended September 30,
                           1995 and 1994                                5

                  Condensed Statements of Cash Flows
                      Nine Months Ended September 30, 1995
                                    and 1994                            6


                  Notes to Condensed Financial Statements               7


                  Management's Discussion and Analysis or
                  Plan of Operation                                     8-10


Part II.          Other Information
                  -----------------

                  Legal Proceedings                                     11



                  Exhibits and Reports on Form 8-K                      12


                  Signature                                             12


                              Page 2 of 12 Pages

<PAGE>



                               AVOCA, INCORPORATED

                         PART I - FINANCIAL INFORMATION

                           Item 1 Financial Statements













                              Page 3 of 12 Pages

<PAGE>
<TABLE>
<CAPTION>
                              Avoca, Incorporated

                      Condensed Balance Sheet (Unaudited)


                               September 30, 1995






<S>                                                                  <C>
Assets
Current assets:
      Cash                                                           $    64,883
      Short-term investments                                           1,251,006
      Accounts receivable                                                 14,283
      Accrued interest receivable                                         34,270
      Prepaid expenses                                                    12,799
                                                                     -----------
Total current assets                                                   1,377,241

Property and equipment, less accumulated depreciation and depletion       78,968

Other assets:
      Long-term investment                                               722,531
      Avoca Drainage Bonds, $415,000, in default -- at nominal amount          1
                                                                     -----------
                                                                     $ 2,178,741
                                                                     ===========




Liabilities and shareholders' equity Current liabilities:
      Accounts payable                                               $     3,266
      Income taxes payable                                                 5,927
                                                                     -----------
Total current liabilities                                                  9,193
                                                                     ===========

Deferred income taxes                                                     14,536

Shareholders' equity:
      Common stock, no par value -- authorized, issued and
           outstanding 830,500 shares                                     94,483
      Retained earnings                                                2,060,529
                                                                     -----------
Total shareholders' equity                                             2,155,012
                                                                     -----------
                                                                     $ 2,178,741
                                                                     ===========


See accompanying notes
</TABLE>
                              Page 4 of 12 Pages

<PAGE>
<TABLE>
<CAPTION>





                              Avoca, Incorporated

                  Condensed Statements of Income (Unaudited)




                                      Three months ended     Nine months ended
                                         September 30           September 30
                                        1995       1994        1995        1994
                                    ---------  ---------   ---------  ----------
<S>                                 <C>        <C>         <C>        <C>
Revenue:
    Royalties                       $  25,606  $  32,517   $  84,432  $  116,962
    Less severance taxes                1,490      1,738       5,189       5,124
                                    ---------  ---------   ---------  ----------
                                       24,116     30,779      79,243     111,838

    Lease bonuses and delay rentals    32,250         -       32,250          -
    Interest income                    27,423     25,080      81,915      56,868
    Rental and other income             8,122      7,568      31,522      36,088
                                    ---------  ---------   ---------  ----------
                                       91,911     63,427     224,930     204,794


Expenses:
    Legal and accounting services      21,616      6,487      45,524      18,523
    Consultant fees                     8,750      8,750      31,250      26,250
    Geological and engineering fees     3,262        497       5,867       6,052
    Insurance                           6,003      5,786      18,014      18,456
    Miscellaneous expenses              7,233      4,339      40,795      32,745
                                    ---------  ---------   ---------  ----------
                                       46,864     25,859     141,450     102,026
                                    ---------  ---------   ---------  ----------
  

Income before income taxes             45,047     37,568      83,480     102,768

Income taxes                           14,683      8,525      16,704      20,992
                                    ---------  ---------   ---------  ----------
Net income                          $  30,364  $  29,043   $  66,776   $  81,776
                                    =========  =========   =========   =========





Net income per share                $    .04   $    .04    $     .08   $     .10
                                   =========  =========    =========   =========







See accompanying notes.
</TABLE>
                              Page 5 of 12 Pages

<PAGE>
<TABLE>
<CAPTION>





                                   Avoca, Incorporated

                    Condensed Statements of Cash Flows (Unaudited)




                                                           Nine months ended
                                                              September 30
                                                           1995         1994
                                                      -----------    -----------
<S>                                                    <C>            <C>
Operating activities
Net income                                             $  66,776      $  81,776
Adjustments to reconcile net income to net cash
  provided (used) by operating activities:
      Depreciation expense                                 1,989            645
      Deferred taxes                                   (   7,263)            -
      Loss on sale of asset                                7,153             -
      Changes in operating assets and liabilities:
        Operating assets                               (   6,262)      (  5,510)
        Operating liabilities                          (   4,068)      ( 29,378)
                                                      -----------    -----------

Net cash provided by operating activities                 58,325         47,533

Investing activities
Maturity of short-term investments                     1,932,310        965,094
Proceeds from the sale of short-term investments         172,785             -
Purchase of short-term investments                    (1,251,006)    (2,001,397)
Purchase of long-term investment                      (  722,531)            -
Proceeds from sale of asset                               15,750             -
Purchase of property, plant & equipment               (   31,200)            -
                                                      -----------    -----------
Net cash provided (used) by investing activities         116,108     (1,036,303)

Financing activities
Dividends paid                                        (  124,575)    (   33,220)
                                                      -----------    -----------
Net cash used in financing activities                 (  124,575)    (   33,220)
                                                      -----------    -----------

Increase (decrease) in cash and cash equivalents          49,858     (1,021,990)
Cash and cash equivalents at beginning of period          15,025      1,090,831
                                                     -----------     -----------
Cash and cash equivalents at end of period           $    64,883     $   68,841
                                                     ===========     ===========








See accompanying notes.
</TABLE>
                              Page 6 of 12 Pages

<PAGE>




                                  Avoca, Incorporated

                Notes to Condensed Financial Statements (Unaudited)

                      Nine months ended September 30, 1995



1.  Basis of Accounting

The accompanying  unaudited condensed financial statements have been prepared in
accordance with generally accepted  accounting  principles for interim financial
information  and  with the  instructions  of Form  10-QSB  and  Item  310(b)  of
Regulation  S-B.  Accordingly,  they do not include all of the  information  and
footnotes  required by generally  accepted  accounting  principles  for complete
financial statements. In the opinion of management,  all adjustments (consisting
of normal recurring accruals)  considered necessary for a fair presentation have
been included.  Operating  results for the nine-month period ended September 30,
1995 are not necessarily  indicative of the results that may be expected for the
year ended  December 31, 1995. For further  information,  refer to the financial
statements and footnotes thereto included in the Company's annual  shareholders'
report  incorporated by reference in the Form 10-KSB for the year ended December
31, 1994.

2.  Contingency

The Company's ongoing  litigation against a roofing company and its insurer (the
defendants)  to,  among other  things,  recover  damages for the total loss of a
building which was destroyed by fire in 1992 was settled subsequent to September
30, 1995. On October 19, 1995, the Company  entered into a settlement  agreement
with the  defendants  in which  the  Company  has  received  $181,000.  The only
remaining  part of the  litigation  is the  roofing  company's  counterclaim  to
recover approximately $32,000 allegedly due under the roofing contract.





                              Page 7 of 12 Pages

<PAGE>
Item 2 -      Management's Discussion and
              Analysis or Plan of Operation

     The  unaudited condensed  statements of income show that net income for the
third  quarter  of  1995 as  compared with  the third  quarter of 1994 increased
slightly from $29,043 to $30,364.

     Royalty  income  net  of  severance  taxes  for the  third quarter  of 1995
decreased  $6,663 or  approximately 22%  as compared  with  the third quarter of
1994. The decrease is attributable to lower prices received from Delta Operating
Company (formerly  Alliance  Operating  Corporation) for gas production from the
Avoca No. 1 well during the third quarter of 1995. Also, gas production from the
well in 1995 was approximately 7% lower than production for the third quarter of
1994.  Only  negligible  production  was  achieved  from the  Exchange Oil & Gas
(formerly  Boo-Ker Oil & Gas) Avoca B-1 well before it went off production again
during  the  third  quarter  of 1995.  The well was off  production  during  the
comparable period of 1994.

     Lease bonuses and delay rentals increased by $32,250. In order to encourage
drilling by I. P. Petroleum Co., Inc. on lands held under its lease, the Company
agreed to  renew  the  lease and receive  delay rentals  on a  quarterly payment
basis,  with  the  $32,250  being   the  first  quarterly  payment  under   this
arrangement.

     Interest income on U. S. Government agency securities for the third quarter
of  1995 increased $2,343 or 9%  in  comparison  to  the  third  quarter of 1994
because of higher interest rates earned.

     As compared  with the  third quarter of 1994, expenses increased $21,005 or
approximately  81% during the third quarter of 1995 primarily due to an increase
in legal services  associated with the Company's lawsuit against Gibson Roofers,
Inc. Geological and engineering fees increased as a result of billings  received
during the third  quarter  for  services  rendered  during  prior  periods.  The
increase in miscellaneous  expenses is attributable to a pile driving project to
close off a gap on the southwestern boundary of Avoca Island.



                              Page 8 of 12 Pages

<PAGE>
     The increase  in income  tax  expenses for the three months ended September
30, 1995 resulted  primarily  from the  increase  in taxable income and a higher
effective  tax  rate  for the  third  quarter  of 1995  as compared to the third
quarter of 1994.

     Total revenue for the nine month period  ended September 30, 1995 increased
$20,136 or approximately 10%. The increase is attributable to the I.P. Petroleum
Company, Inc.  delay  rental  payment and an increase in interest income on U.S.
Government  and U. S.  Government  agency  securities,  offset  somewhat  by the
decrease in net royalty and rental and other income.

     Lease bonuses and delay rental increased by $32,250 due to early payment by
I. P. Petroleum Company, Inc.  of  the  delay  rental mentioned above.  Interest
income on U. S.  Government and U. S. Government  agency securities for the nine
month  period  ended  September 30, 1995  increased $25,047 or 44% due to higher
interest rates earned.

     Revenues  from  royalties  net of  severance  taxes  during  the first nine
months of 1995 decreased by $32,595 or approximately  29%,  primarily because of
significantly  lower  prices  received  from  Delta  Operating  Company  for gas
production from the Avoca No. 1 well. Also, gas production from the well in 1995
was  approximately  13% lower than production for the first nine months of 1994.
During 1994 and 1995, the  Delta Operating  Company  No.  1 well was responsible
for almost all of the Company's royalty






                              Page 9 of 12 Pages

<PAGE>



income.  The Exchange Oil and Gas Avoca No. B-1 well,  which was off  production
for the first nine months of 1994, produced  intermittently  during January, for
one week in May and two weeks in September of 1995, but is again off production.
At  last  report,  the  operator  was  contemplating  plugging  and  abandonment
operations in the near future.

     No mineral leases were granted  and no  drilling  operations were commenced
during the first nine months in 1995.

     Rental  and  other  income  for the nine month  period  ended September 30,
1995 decreased  $4,566 or  approximately 13% as compared with the same period of
1994.  The decrease results from the timing of a rental  payment under an annual
surface lease.

     Expenses  for  the nine  month period  ended  September  30, 1995 increased
$39,424  or  approximately  39%  because  of  increases  in legal and consultant
fees and  miscellaneous  expenses.  In January 1995, the Company sold its mobile
home which was previously used as  temporary housing for the Company's caretaker
for  $15,750  and  recorded  a loss on the sale of  $7,153, which is included in
miscellaneous expenses on the condensed statements of income.

     The  decrease  in  income  tax  expense  for  the  nine  month period ended
September  30,  1995 was a result of a decease  in income  before  income taxes.

     The  Company's  continued  liquidity   is  evidenced  by   the   fact  that
approximately  94%  of its assets, as  measured by book value, are cash and U.S.
Government  agency  securities.  In  addition  to  interest income,  the Company
derives  essentially  all of its other  income from the  granting of oil and gas
leases,  the collection of bonuses,  delay rentals and royalties  thereunder and
the leasing of hunting rights. The Company's business is passive and all capital
requirements  for exploration,  development  and  production  of  the  Company's
mineral resources are funded by its Lessees.


                              Page 10 of 12 Pages

<PAGE>



                          Part II - OTHER INFORMATION

Item 1 - Legal Proceedings

     As noted in the Company's  10-KSB Report for the fiscal year ended December
31, 1994,  the Company  and  Gibson  Roofers,  Inc.  ("Gibson") are  engaged  in
litigation  arising  from roofing work  performed  by Gibson on an historic home
owned by the Company.  After filing a labor and materialman's lien against 205.7
acres of the Company's property,  Gibson on January 22, 1993 filed suit  against
Avoca in the 24th  Judicial  District  Court,  Jefferson  Parish, Louisiana,  to
recover the principal sum of $31,759.00 allegedly due under the roofing contract
and  to  enforce  Gibson's  alleged  lien  rights.  The suit  was dismissed  for
improper  venue on  June 23, 1993  and  refiled in Civil  District Court for the
Parish of Orleans, Louisiana.  The refiled suit was dismissed for improper venue
on October 15, 1993.

     On January 27, 1993,  Avoca  and its insurer,  Audubon  Insurance  Company,
sued Gibson and its insurer,  Reliance Insurance Company,  in the  16th Judicial
District Court, St. Mary Parish,   Louisiana, to  recover  damages for the total
loss  of  the  building,  which  burned to the ground while the roofing work was
being performed.  Avoca also sought damages for Gibson's  wrongful  assertion of
lien  rights  against  the  Company's  property.   By  counterclaim,  Gibson has
realleged the contract and lien rights it asserted in its earlier suits.

     As noted in the  Company's  10-QSB  Report  for the quarter ended March 31,
1995,  Audubon Insurance  Company has settled with the defendants and its claims
have been dismissed.  Avoca's claims against Gibson and its insurer were settled
on  October 19, 1995  for  $181,000  in  cash.  The only  remaining  part of the
litigation is Gibson's counterclaim, which is scheduled for trial in December of
this year.





                              Page 11 of 12 Pages

<PAGE>

Item 6 - Exhibits and Reports on Form 8-K

                  (a)      Exhibits required by Item 601 of Regulation S-B:

                  None.

                  (b)      Reports on Form 8-K

                  Reports  on Form 8-K:  No reports  have been filed  during the
                  quarter for which this report is filed.




                                   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.


                                                  AVOCA, INCORPORATED
                                                  -------------------
                                                       Registrant


                                       /s/ Edward B. Grimball
------------------------------------   -----------------------------------------
                                       Edward B. Grimball
                                       President and Principal Financial Officer




                              Page 12 of 12 Pages

<PAGE>