<PAGE>
Pricing Supplement No. 23 Filing Under
---- Rule 424(b)(2)
(To Prospectus Supplement dated July 1, 1994
including the Prospectus dated June 29, 1994)
Trade Date: 12/1/94 Registration
------------------- File No.
33-53779
Alco Capital Resource, Inc.
- --------------------------------------------------------------------------------
Medium Term Notes
CUSIP: 01374QAK4
---------------------------------
Principal Amount: 20,000,000 Floating Rate Notes: N/A
---------------------- -------------------
Interest Rate (if fixed rate): 8.07% Interest Rate Basis: N/A
--------- -------------
Interest Payment Date(s): N/A -Commercial Paper Rate:
-------------- ----------
(other than June 15 and December 15) -Prime Rate:
---------------------
Regular Record Date(s): N/A -LIBOR:
---------------- --------------------------
(other than May 31 and November 30) -Treasury Rate:
------------------
Stated Maturity: 6/6/97 -CD Rate:
----------------------- ------------------------
Specified Currency: US Dollars -Federal Funds Rate:
-------------------- -------------
Applicable Exchange Rate (if any): N/A -Other:
----- --------------------------
US Dollar $1.00 = N/A
------------------- Index Maturity: N/A
Issue Price (as a percentage of ------------------------
principal amount): 100% Spread: N/A
-------- --------------------------------
Selling Agent: Spread Multiplier: N/A
-Lehman Brothers: X ---------------------
---------------- Maximum Interest Rate: N/A
-Chase Securities, Inc.: -----------------
--------- Minimum Interest Rate: N/A
-Goldman, Sachs & Co.: -----------------
----------- Initial Interest Rate: N/A
-Merrill Lynch & Co.: -----------------
------------ Interest Reset Date(s)
-Other: (if semi-annually or annually):
--------------------------
-------------------------------------
Selling Agent's Commission (%): .25% Third Wednesday of: N/A
-------- ----------------
Purchasing Agent: N/A Interest Reset Date (if weekly,
---------------------- monthly, or quarterly):
Purchasing Agent's Discount or ----------
Commission (%): N/A Interest Determination Date(s): N/A
--------------------- --------
Type of Sale: Calculation Date(s): N/A
As Agent: X As Principal: -------------------
---- ---- Calculation Agent: N/A
Net proceeds to the Company: 19,950,000 ---------------------
----------- Interest Payment Date(s): N/A
Settlement date --------------
(original issue date): 12/8/94 (other than June 15 and December 15)
---------------
Redemption Commencement Regular Record Date(s): N/A
Date (if any): N/A ----------------
----------------------- (other than May 31 and November 30)
Redemption Period: N/A
--------------------- Interest Reset Period: N/A
Exchange Rate Agent: N/A -----------------
-------------------
Original Issue Discount Security:
Yes: No: X
---- ----
Form:
Book Entry: X Certificated:
--- ---
Authorized by: /s/ O Gordon Brewer, Jr.
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