ARROW TRANSPORTATION CO
10-Q/A, 1996-07-03
TRUCKING (NO LOCAL)
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                          UNITED STATES
               SECURITIES AND EXCHANGE COMMISSION
                     Washington, D.C. 20549

                            FORM 10-Q

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

     For the quarterly period ended March 31, 1996

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

     For the transition period from              to               
       

                   Commission File No. 0-21922

                    ARROW TRANSPORTATION CO.
     (Exact name of Registrant as specified in its charter)

     Oregon                           93-1103182
(State or other jurisdiction of    (I.R.S. Employer
Incorporation or organization      Identification No.)

10145 N. Portland Road, Portland, Oregon       97203 
(Address of principal executive offices)     (Zip Code)

Registrant's telephone number,
including area code:          (503)286-3661

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   [ ]

Indicate the number of shares outstanding of each of the issuer's
classes of common stock, as of the latest practicable date.

     Class                    Outstanding at March 31, 1996

Common stock, no par value              4,150,314 Shares




             ARROW TRANSPORTATION CO. AND SUBSIDIARY
        Form 10-Q -- For the Quarter Ended March 31, 1996


                              INDEX

Part I.   FINANCIAL INFORMATION 

Item 1.   Financial Statements

          a)   Consolidated Balance Sheets -- March 31, 1996 and
               December 31, 1995

          b)   Consolidated Statements of Operations -- Three
               Months Ended March 31, 1996 and March 31, 1995

          c)   Consolidated Statements of Stockholders' Equity --
               December 31, 1995 and March 31, 1996

          d)   Consolidated Statements of Cash Flows -- Three
               Months Ended March 31, 1996 and March 31, 1995

          e)   Notes to Consolidated Financial Statements

Item 2.   Management's Discussion and Analysis of Financial
          Condition and Results of Operations

Part II.  OTHER INFORMATION

Item 1.   Legal Proceedings 

Item 2.   Changes in Securities 

Item 3.   Defaults Upon Senior Securities 
 
Item 4.   Submission of Matters to a Vote of Security Holders

Item 5.   Other Information 

Item 6.   Exhibits and Reports on Form 8-K

          Signatures







                           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.

Dated:  May 14, 1996

ARROW TRANSPORTATION CO.
(Registrant)



By:  /s/ William J. Stanners, Jr.  
     ----------------------------
     William J. Stanners, Jr.
     Vice President and Chief Financial Officer



<TABLE> <S> <C>

<ARTICLE> 5
<MULTIPLIER> 1,000
       
<S>                             <C>
<PERIOD-TYPE>                   3-MOS
<FISCAL-YEAR-END>                          DEC-31-1996
<PERIOD-START>                             JAN-01-1996
<PERIOD-END>                               MAR-31-1996
<CASH>                                              30
<SECURITIES>                                         0
<RECEIVABLES>                                    3,215
<ALLOWANCES>                                        83
<INVENTORY>                                        558
<CURRENT-ASSETS>                                 5,728
<PP&E>                                          21,707
<DEPRECIATION>                                   8,076
<TOTAL-ASSETS>                                  19,798
<CURRENT-LIABILITIES>                            6,255
<BONDS>                                              0
<COMMON>                                         4,879
                                0
                                          0
<OTHER-SE>                                       2,699
<TOTAL-LIABILITY-AND-EQUITY>                     2,180
<SALES>                                              0
<TOTAL-REVENUES>                                 6,739
<CGS>                                                0
<TOTAL-COSTS>                                    7,164
<OTHER-EXPENSES>                                    94
<LOSS-PROVISION>                                     0
<INTEREST-EXPENSE>                                 302
<INCOME-PRETAX>                                  (633)
<INCOME-TAX>                                     (243)
<INCOME-CONTINUING>                              (390)
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                     (390)
<EPS-PRIMARY>                                    (.09)
<EPS-DILUTED>                                        0
        

</TABLE>


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