FIRST REPUBLIC CORP OF AMERICA
10-K/A, 1994-12-15
TEXTILE MILL PRODUCTS
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                                  UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                  FORM 10-K/A

                ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
                   SECURITIES EXCHANGE ACT OF 1934 (FEE REQUIRED)
             
                      For the fiscal year ended June 30, 1994
                           Commission File No. 0-1437

                    THE FIRST REPUBLIC CORPORATION OF AMERICA
             (Exact name of Registrant as specified in its charter)

       DELAWARE                                                   13-1938454
(State or other jurisdiction of         (I.R.S. Employer Identification No.)
incorporation or organization)

        302 Fifth Avenue
      New York, New York                                             10001  
(Address of principal executive offices)                          (Zip Code)

Registrant's telephone number, including area code: (212) 279-6100
Securities registered pursuant to Section 12(b) of the Act:

                                None

Securities registered pursuant to Section 12(g) of the Act:

                      Common Stock Par Value $1 per share

                                (Title of Class)

Indicate by check mark whether 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 and (2) has
been subject to such filing requirements for the past 90 days. Yes X No     

Indicate by check mark if disclosure of delinquent filers pursuant to Item 
405 of Regulation S-K is not contained herein, and will not be contained, 
to the best of registrant's knowledge, in definitive proxy or information 
statements incorporated by reference in Part III of this Form 10-K
or any amendment to this Form 10-K.  [X]

As of September 16, 1994, 674,107 common shares were outstanding, and the 
aggregate market value of common shares held by nonaffiliates of Registrant 
was approximately $2,339,000 (based upon the price paid by Registrant for 
shares).
                     Documents Incorporated by Reference

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                                 See Item 14(c)




                                Exhibit 21

                The First Republic Corporation of America

                           List of Subsidiaries




                     The First Republic Building Corp.
                     Bluepoints Company Inc.
                     Bluepoints Company Inc. of Maryland
                     Hanora Spinning Inc.
                     Quality Yarns Inc.

                     Whitlock Combing Company, Inc.
                     Hanora South Inc.
                     J & M Dyers Inc.
                     FRC of Delaware Inc.
                     FRCA Sunscape Corp.

                     Midland Health Care Inc.
                     Midland at Rochelle Park Inc.
                     Midland Health Care at Logan Manor Inc.
                     Marchelot S.A.

WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.

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                                                                   Exhibit 27
                   The First Republic Corporation of America
                               and Subsidiaries

                           Financial Data Schedule

                   At June 30, 1994 and for Year then ended
                                  June 30, 1994


                              Item Description
Cash and cash items                                      $1,316,144

Marketable securities                                     -

Notes and accounts receivable-trade                       5,647,090

Allowances for doubtful accounts                          153,180

Inventory                                                 4,731,545

Total current assets                                      13,975,355

Property, plant and equipment                             69,431,186

Accumulated depreciation                                  29,276,551

Total assets                                              80,163,628

Total current liabilities                                 9,412,274

Bonds, mortgages and similar debt                         23,870,298

Preferred stock-mandatory redemption                      -

Preferred stock-no mandatory redemption                   -

Common stock                                              1,175,261

Other stockholder's-equity                                41,088,455

Total liabilities and stockholders' equity                80,163,628

Net sales of tangible products                            23,717,207

Total revenues                                            46,702,373

<PAGE>

Cost of tangible goods sold                               20,704,424

Total costs and expenses applicable to sales and revenues 22,606,782

Other costs and expenses                                   -

Provision for doubtful accounts and notes                  150,000

Interest and amortization of debt discount                 2,248,497

Income before taxes and other items                        1,142,670

Income tax expense                                         1,055,000

Income continuing operations                               87,670

Discontinued operations                                     -

Extraordinary items                                        300,000

Cumulative effect-changes in accounting principles         1,173,000

Net income or loss                                         1,560,670

Earnings per share-primary                                 2.31

Earnings per share-fully diluted                           2.31



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