REAL SILK INVESTMENTS INC
SC 13G, 1997-02-12
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                       February 12, 1997
                                
  
THIS PAPER DOCUMENT IS BEING SUBMITTED PURSUANT TO RULE 902(G) OF
REGULATION S-T
                                
  
Securities and Exchange Commission
OFIS Filer Support, 
SEC Operations Center
6432 General Green Way
Alexandria, Virginia  22312-2413
  
Re:  Filing:             Schedule 13-G
     Name of Issuer:     Real Silk Investments, Inc. [CUSIP number 756027108]
     Reporting Person:   Daniel R. Efroymson; Mary Ann Stein;
                         Moriah Fund, Inc.                      
                                                         
  
  
  Gentlemen:
  
  We are enclosing one copy of our Schedule 13-G for the period ending December
31, 1996.
  

  
  
  Cordially,
  
  
  
  
  Lorretta A. Cox, Secretary
  Real Silk Investments, Inc.
                              
                                               OMB APPROVAL
                                  OMB NUMBER:     3235-0145
                                EXPIRES:    AUGUST 31, 1991
                                  ESTIMATED AVERAGE BURDEN 
                                 HOURS PER RESPONSE   14.90
                                                             
                        UNITED STATES
              SECURITIES AND EXCHANGE COMMISSION
                    Washington, D.C. 20549
                               
                         SCHEDULE 13G
                               
          Under the Securities Exchange Act of 1934
                   (Amendment No. __16___)
                               
  ______REAL SILK INVESTMENTS, INCORPORATED______________________
                       (Name of Issuer)
            (Formerly:  Real Silk Hosiery Mills, Incorporated)
                                     
  ____________________COMMON STOCK______________________________
                (Title of Class of Securities)
                               
 
_____________________756027108__________________________________
                        (CUSIP Number)
                               
                               
Check the following box if a fee is being paid with this statement __.  (A
fee is not required only if the filing person: (1) has a previous statement
on file reporting beneficial ownership of more than five percent of the class
of securities described in Item 1; and (2) has filed no amendment subsequent
thereto reporting beneficial ownership of five percent or less of such class.)
(See Rule 13d-7).
  
  *The remainder of this cover page shall be filled out for a reporting
person's initial filing on this form with respect to the subject class of
securities, and for any subsequent amendment containing information which
would alter the disclosures provided in a prior cover page.
  
  The information required in the remainder of this cover page shall not be
deemed to be "filed" for the purpose of Section 18 of the Securities Exchange
Act of 1934 ("Act") or otherwise subject to the liabilities of that section of
the Act but shall be subject to all other provisions of the Act (however,
see the Notes).
CUSIP No.__________                    13G               Page____of____ Pages
  
     
  
  1
  
  NAME OF REPORTING PERSON
  S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
  
       Daniel R. Efroymson
       Mary An Stein
       Moriah Fund, Inc.
  
  
  
  2
  
  CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*   
                                                                  

                               (a)___
                                                                  

                               (b)_X_
  
  
  
  3
  
  SEC USE ONLY
  
  
  
  
  4
  
  CITIZENSHIP OR PLACE OF ORGANIZATION
  
  U.S.A
  
  
  NUMBER OF SHARES BENEFICIALLY
  OWNED BY EACH REPORTING PERSON
  WITH
  5
  SOLE VOTING POWER
  D.R. Efroymson               5,233
  Moriah Fund, Inc.           77,000
  
  
  
  
  NUMBER OF SHARES BENEFICIALLY
  OWNED BY EACH REPORTING PERSON
  WITH
  6
  SHARED VOTING POWER
  D.R. Efroymson              47,489
  M.A. Stein                   6,905 
  
  
  
  
  NUMBER OF SHARES BENEFICIALLY
  OWNED BY EACH REPORTING PERSON
  WITH
  7
  SOLE DISPOSITIVE POWER
  D.R. Efroymson               5,233
  Moriah Fund, Inc.           77,000
  
  
  
  
  NUMBER OF SHARES BENEFICIALLY
  OWNED BY EACH REPORTING PERSON
  WITH
  8
  SHARED DISPOSITIVE POWER
  D.R. Efroymson              47,489
  M.A. Stein                   6,905
  
  
  
  
  9
  
  AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
  
  129,722
  
  
  
  
  10
  
  CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
  SHARES*
  
  
  
  
  11
  
  PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
  
  78.8%
  
  
  
  12
  
  TYPE OF REPORTING PERSON*
  Moriah Fund, Inc.        CO
  D.R. Efroymson           IN
  M.A. Stein               IN
  
  
             *SEE INSTRUCTION BEFORE FILLING OUT!
  
  
  
  Schedule 13-G
  
  Amendment No. 16
  
  ITEM  4.     Ownership:
          
    (a)   Amount beneficially owned
  
                 129,722
  
    (b)   Percent of Class
  
                78.8%
  
  This amendment is filed to reflect the total number of shares beneficially
owned in Item 4 (a) and cover sheet Item 9.

  Many of the shares are held in accounts of which more than one member of
the group has beneficial ownership.  These shares are reported as
beneficially owned by each such reporting person under the "shared"
categories resulting in the total shares reported in those categories
exceeding the actual number of shares involved.
  
 
                   
  SIGNATURES
  
     After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete
and correct.
 
  _____________
  Date
  
  Daniel R. Efroymson
  
  Mary Ann Stein

  Moriah Fund, Inc.


  By                               
 
  __________________________       
  Daniel R. Efroymson
  Pursuant to the Power of Attorney,  
  Schedule 13g, Amendment No. 5,
  Page 5, filed January 23, 1986,
  and Power of Attorney, Schedule 13G,
  Amendment No. 9, Page 6, filed
  February 13, 1990.
  
  
  
  
  
  
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