METROPOLITAN MORTGAGE & SECURITIES CO INC
NT 10-Q/A, 1995-08-15
MISCELLANEOUS BUSINESS CREDIT INSTITUTION
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THIS DOCUMENT IS A COPY OF THE 12b-25FILED IN PAPER COPY ON AUGUST 14, 
1995 
PURSUANT TO A RULE 201 TEMPORARY HARDSHIP EXEMPTION. 

		U.S. SECURITIES AND EXCHANGE COMMISSION

		WASHINGTON, D.C. 20549

		FORM 12b-25

		NOTIFICATION OF LATE FILING

		(Check One):

[ ]Form 10-K [ ]Form 20-F [ ]Form 11-K [x]Form 10-Q []Form N-SAR
For Period Ended: June 30, 1995
[ ] Transition Report on Form 10-K
[ ] Transition Report on Form 20-F
[ ] Transition Report on Form 11-K
[ ] Transition Report on Form 10-Q
[ ] Transition Report on Form N-SAR
For the Transition Period Ended:


	Nothing in this form shall be construed to imply that the 
Commission has 
verified any information contained herein.

	If the notification relates to a portion of the filing checked 
above, 
identify the Item(s) to which the notification relates: N/A

Part 1-Registrant Information

Metropolitan Mortgage & Securities Co., Inc.
	Full Name of Registrant
	(Commission File No. 2-63708)
	Former Name if ApplicableN/A
	West 929 Sprague Avenue
	Address of Principal Executive Office (Street and Number)
	Spokane, WA 99204
	City, State and Zip Code

Part II-Rules 12b-25 (b) and (c)

	If the subject report could not be filed without unreasonable 
effort or 
expense and the registrant seeks relief pursuant to Rule 12b-25(b), the 
following should be completed. (Check box if appropriate)

	(a) The reasons described in reasonable detail in Part III of this 
form 
could not be eliminated without unreasonable effort or expense; [X]

	(b) The subject annual report, semi-annual report, transition 
report on 
Form 10-K, Form 20-F, 11-K or Form N-SAR, or portion thereof will be 
filed on 
or before the fifteenth calendar day following the prescribed due date; 
or the 
subject quarterly report or transition report on Form 10-Q or portion 
thereof 
will be filed on or before the fifth calendar day following the 
prescribed due 
date; and [X]

	(c) The accountant's statement or other exhibit required by
Rule 12b-25(c) has been attached if applicable. [X]

Part III-Narrative

State below in reasonable detail the reasons why Form 10-K, 20-F, 11-K, 
10-Q, 
N-SAR, or the transition report or portion thereof could not be filed 
within 
the prescribed period.

The Registrant's personnel primarily responsible for preparation of the 
Report 
have been delayed in finalizing the Report due to the complexity of 
preparing 
proper financial reports for the transactions which have occurred during 
the 
reporting period.

Part IV-Other Information

	(1) Name and telephone number of person to contact in regard to 
this 
notification    Susan A. Thomson 
			(Name)
 
			(509) 838-3111
			(Area Code) (Telephone Number) 

	(2) Have all other periodic reports required under section 13 or 
15(d) 
of the Securities Exchange Act of 1934 or section 30 of the Investment 
Company 
Act of 1940 during the preceding 12 months or for such shorter period 
that the 
registrant was required to file such report(s) been filed?If the answer 
is no, 
identify report(s).
[X] Yes [ ] No

	(3) Is it anticipated that any significant change in results of 
operations from the corresponding period for the last fiscal year will 
be 
reflected by the earnings statements to be included in the subject 
report or 
portion thereof?
[ ] Yes [X] No

	If so: attach an explanation of the anticipated change, both 
narratively 
and quantitatively, and, if appropriate, state the reasons why a 
reasonable 
estimate of the results cannot be made.

	Metropolitan Mortgage & Securities Co., Inc.
	(Name of Registrant as specified in charter)

has caused this notification to be signed on its behalf by the 
undersigned 
thereunto duly authorized.

						/s/ C. Paul Sandifur, Jr.
Date  August 14, 1995           By _____________________________
					C. Paul Sandifur, Jr.
					President

INSTRUCTION: The form may be signed by an executive officer of the 
registrant 
or by any other duly authorized representative.The name and title of the 
person signing the form shall be typed or printed beneath the 
signature.If the 
statement is signed on behalf of the registrant by an authorized 
representative (other than an executive officer), evidence of the 
representative's authority to sign on behalf of the registrant shall be 
filed 
with the form.


ATTENTION

Intentional misstatements or omissions of fact constitute Federal 
Criminal 
Violations (see 18 U.S.C. 1001).




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