ARNOLD INDUSTRIES INC
10-Q/A, 1995-11-20
TRUCKING (NO LOCAL)
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                           FORM 10-Q/A

               SECURITIES AND EXCHANGE COMMISSION
                     Washington, D.C.  20549

(Mark One)

[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

                                  OR

[ ]  Transition Report Pursuant to Section 13 or 15(d) of the 
               Securities Exchange Act of 1934

For the transition period from                 to                

Commission File No. 0-10894.

                    ARNOLD INDUSTRIES, INC.                      
     (Exact name of registrant as specified in its charter) 

         Pennsylvania                          23-2200465        
(State or other jurisdiction of             (IRS Employer
incorporation or organization)            Identification No.)

            625 South Fifth Avenue, Lebanon, Pennsylvania        
            (Address of principal executive offices)          

                              17042  
                           (Zip Code)

                         (717) 274-2521                          
      (Registrant's telephone number, including area code)


                           No Change                             
     (Former name, former address and former fiscal year, 
               if changed since last report)

     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        

     Common Stock, par value $1.00 per share:  26,636,454 shares
outstanding as of November 6, 1995.


                  PART II.  OTHER INFORMATION 


Item 6.   Exhibits and Reports on Form 8-K

          (a)  Exhibit 27 - Financial Data Schedule

          (b)  NONE APPLICABLE



                           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.  


                              ARNOLD INDUSTRIES, INC.
                                   (Registrant)


Date:  November 17, 1995      By  /s/ Heath L. Allen             
                                Heath L. Allen, Secretary



Date:  November 17, 1995          /s/ Ronald E. Walborn          
                              Ronald E. Walborn, Treasurer


<TABLE> <S> <C>

<ARTICLE>   5   
<LEGEND>
THE SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED
FROM THE FINANCIAL STATEMENTS CONTAINED IN ARNOLD INDUSTRIES, INC.'S 
FORM 10-Q FOR THE NINE MONTHS ENDED SEPTEMBER 30, 1995, AND IS 
QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS
</LEGEND>
       
<S>                           <C>
<PERIOD-TYPE>                   9-MOS
<FISCAL-YEAR-END>               DEC-31-1995
<PERIOD-END>                    SEP-30-1995
<CASH>                           15,594,819
<SECURITIES>                     10,548,027
<RECEIVABLES>                    33,391,767
<ALLOWANCES>                      1,814,417
<INVENTORY>                               0
<CURRENT-ASSETS>                 67,207,038
<PP&E>                          295,447,587
<DEPRECIATION>                   99,592,218
<TOTAL-ASSETS>                  277,526,663
<CURRENT-LIABILITIES>            50,423,428
<BONDS>                                   0
<COMMON>                         29,942,628
                     0
                               0
<OTHER-SE>                      161,885,247
<TOTAL-LIABILITY-AND-EQUITY>    277,526,663
<SALES>                                   0
<TOTAL-REVENUES>                248,697,282
<CGS>                                     0
<TOTAL-COSTS>                   210,390,980
<OTHER-EXPENSES>                          0
<LOSS-PROVISION>                    842,554
<INTEREST-EXPENSE>                1,354,666
<INCOME-PRETAX>                  38,046,904
<INCOME-TAX>                     13,941,990
<INCOME-CONTINUING>              24,104,914
<DISCONTINUED>                            0
<EXTRAORDINARY>                           0
<CHANGES>                                 0
<NET-INCOME>                     24,104,914
<EPS-PRIMARY>                           .91
<EPS-DILUTED>                           .91
        

</TABLE>


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