SECURITIES AND EXCHANGE COMMISSION
                                     
                          Washington, D. C. 20549
                                     
                                 FORM 10-Q
                                     
                Quarterly Report Under Section 13 or 15(d)
                  of the Securities Exchange Act of 1934
                                     
   For the Quarter Ended January 31, 1997 Commission File Number 0-8675

                      OIL-DRI CORPORATION OF AMERICA
          (Exact name of registrant as specified in its charter)

                         DELAWARE                  36-2048898
           (State or other jurisdiction of       (I.R.S. Employer
            Incorporation or organization)       Identification No.)

                    410 North Michigan Avenue
                      Chicago, Illinois                   60611
         (Address of principal executive offices)      (Zip Code)

Registrant's telephone number, including area code (312) 321-1515

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 and (2) has been subject to such
filing requirements for at least 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 close of the period covered by this report.

Common Stock  - 5,193,150 Shares (Including 618,567 Treasury Shares)
Class B Stock - 2,042,368 Shares

               OIL-DRI CORPORATION OF AMERICA & SUBSIDIARIES
               Consolidated Statements of Financial Position
                                  ASSETS

                                    January 31     July 31
                                   (Unaudited)   (Unaudited)
                                       1997         1996
CURRENT ASSETS                                  

Cash and Cash Equivalents          $ 7,815,625  $10,113,544
Investment Securities, at Cost     1,610,000    1,594,000
Accounts Receivable                24,366,103   20,666,623
Allowance for Doubtful Accounts    (375,820)    (225,970)
Inventories                        10,279,738   11,737,068
Prepaid Expenses and Taxes          5,416,923    4,325,061
             Total Current Assets  49,112,569   48,210,326

PROPERTY, PLANT AND EQUIPMENT - AT COST         

Cost                               112,994,491  112,943,046
Less Accumulated Depreciation and  (56,248,350) (54,730,624)
  Amortization
            Total Property, Plant               
               and Equipment, Net  56,746,141   58,212,422

OTHER ASSETS                                    
                                                
Goodwill (Net of Accumulated                    
                                       
Amortization)                      4,106,496    4,172,526
Deferred Income Taxes              2,282,260    2,264,291
Other                               5,068,867    4,833,303
                Total Other        11,457,623   11,270,120
Assets

TOTAL ASSETS                       $117,316,333 $117,692,868

The accompanying notes are an integral part of the consolidated
financial statements.

               OIL-DRI CORPORATION OF AMERICA & SUBSIDIARIES
               Consolidated Statements of Financial Position
                    LIABILITIES & STOCKHOLDERS' EQUITY

                                    January 31     July 31
                                   (Unaudited)   (Unaudited)
                                       1997         1996
CURRENT LIABILITIES                             
                                          
Current Maturities of Notes        $ 1,926,000  $ 1,626,762
  Payable
Accounts Payable - Trade           4,277,758    5,338,787
Dividends Payable                  488,508      519,610
Accrued Expenses                   10,719,937   10,326,518
          Total Current            17,412,203   17,811,677
            Liabilities
                                                
NONCURRENT LIABILITIES                          
                                          
Notes Payable                      17,132,000   18,978,000
Deferred Compensation              2,359,317    2,253,313
Other                               1,636,150    1,420,382
          Total Noncurrent         21,127,467   22,651,695
            Liabilities

          Total Liabilities        38,539,670   40,463,372
                                                
STOCKHOLDERS' EQUITY                            
                                          
Common Stock                       723,551      723,552
Paid-In Capital in Excess of Par   7,667,412    7,660,600
  Value
Retained Earnings                  80,598,295   77,385,514
Cumulative Translation Adjustment    (938,733)  (1,018,416)
                                   88,050,525   84,751,250
Less Treasury Stock, At Cost        9,273,862    7,521,754
          Total Stockholders'      78,776,663   77,229,496
            Equity

TOTAL LIABILITIES & STOCKHOLDERS'  $117,316,333 $117,692,868
  EQUITY

The accompanying notes are an integral part of the consolidated
financial statements.

               OIL-DRI CORPORATION OF AMERICA & SUBSIDIARIES
          Consolidated Statements of Income and Retained Earnings
                        Six Months Ended January 31

                                             1997       1996
                                         (Unaudited) (Unaudited)

Net Sales                                $83,317,354 $81,105,246
Cost Of Sales                             57,390,621 57,123,845
Gross Profit                              25,926,733 23,981,401
Selling, General and Administrative                  
  Expenses                                19,324,626 20,845,164
Operating Income                          6,602,107  3,136,237
                                                     
OTHER INCOME (EXPENSE)                               
                                               
  Interest Expense                        (916,745)  (970,528)
  Interest Income                         300,850    274,133
  Foreign Exchange Gain (Loss)            4,180      (870)
  Other, Net                              (124,594)  187,724
                                          (736,309)  (509,541)

Income Before Income Taxes                5,865,798  2,626,696
Income Taxes                              1,671,752  736,622
Net Income                                4,194,046  1,890,074
                                                     
RETAINED EARNINGS                                    
                                               
  Balance at Beginning of Year            77,385,514 76,033,462
  Less: Cash Dividends Declared           981,265    1,018,974

Retained Earnings - January 31            $80,598,295 $76,904,562
Average Shares Outstanding                 6,689,220  6,828,646
Net Income Per Share                      $0.63       $0.28

The accompanying notes are an integral part of the consolidated
financial statements.

               OIL-DRI CORPORATION OF AMERICA & SUBSIDIARIES
          Consolidated Statements of Income and Retained Earnings
                       Three Months Ended January 31

                                              1997        1996
                                          (Unaudited) (Unaudited)

Net Sales                                 $42,792,216 $41,797,312
Cost Of Sales                              29,157,368 29,474,959
Gross Profit                               13,634,848 12,322,353
Selling, General and Administrative         
  Expenses                                 10,114,152 11,532,883
Operating Income                           3,520,696  789,470
                                                      
OTHER INCOME (EXPENSE)                                
                                                
  Interest Expense                        (449,550)   (480,367)
  Interest Income                         150,274     121,539
  Foreign Exchange Gain (Loss)            4,484       2,723
  Other, Net                              (61,116)    242,150
                                          (355,908)   (113,955)

Income Before Income Taxes                3,164,788   675,515
Income Taxes                              901,045     198,329
Net Income                                $2,263,743  $477,186

Average Shares Outstanding                 6,657,736   6,813,708
Net Income Per Share                       $0.34       $0.07

These accompanying notes are an integral part of the consolidated
financial statements.

               OIL-DRI CORPORATION OF AMERICA & SUBSIDIARIES
                   Consolidated Statements of Cash Flows
                    For the Six Months Ended January 31

                                             1997        1996
                                          (Unaudited) (Unaudited)
CASH FLOWS FROM OPERATING ACTIVITIES                  

Net Income                                $4,194,046  $1,890,074
                                                      
Adjustments to Reconcile Net Income to                
  Net Cash
  Provided by Operating Activities:
                                                
  Depreciation and Amortization           3,831,881   4,069,690
  Provision for bad debts                 150,000     86,472
  (Increase) Decrease in:                             
                                                
     Accounts Receivable                  (3,699,630) (3,367,992)
     Inventories                          1,457,330   (297,074)
     Prepaid Expenses and Taxes           (1,103,290) (232,877)
     Other Assets                         (239,120)   (268,541)
  Increase (Decrease) in:                             
                                                
     Accounts Payable                     (1,022,024) 466,539
     Accrued Expenses                     346,643     (886,029)
     Deferred Compensation                106,004     159,775
     Other                                215,767     423,773
                       Total Adjustments  43,561      153,736

          Net Cash Provided By Operating  4,237,607   2,043,810
            Activities
                                                      
CASH FLOWS FROM INVESTING ACTIVITIES                  

  Capital Expenditures                    (2,662,573) (2,599,529)
  Proceeds from disposition of property,              
                                                
    plant and equipment                   555,232     -
  Purchases of Investment Securities      (311,000)   -
  Dispositions of Investment Securities   295,000     908,874
  Other                                   (144,534)   -
   Net Cash Used in Investing Activities  (2,267,875) (1,690,655)
                                                      
CASH FLOWS FROM FINANCING ACTIVITIES                  
                                                
  Principal Payments on Long Term Debt    (1,546,762) (168,355)
  Dividends Paid                          (985,068)   (1,018,524)
  Foreign Currency Translation            16,287      (26,288)
    Adjustment
                                                
  Purchases of Treasury Stock             (1,752,108) (1,370,034)
   Net Cash Used In Financing Activities  (4,267,651) (2,583,201)

Net (Decrease) in Cash and Cash           (2,297,919) (2,230,046)
  Equivalents                                          
                                                 
Cash and Cash Equivalents, Beginning of   10,113,544   8,829,667
  Year
                                                 
Cash and Cash Equivalents, January 31     $7,815,625   $6,599,621

These accompanying notes are an integral part of the consolidated
financial statements.

               OIL-DRI CORPORATION OF AMERICA & SUBSIDIARIES
                Notes To Consolidated Financial Statements
                                (Unaudited)

1.   BASIS OF STATEMENT PRESENTATION

The financial statements and the related notes are condensed and should be
read in conjunction with the consolidated financial statements and related
notes for the year ended July 31, 1996, included in the Company's Annual
Report on Form 10-K filed with the Securities and Exchange Commission.

The consolidated financial statements include the accounts of the Company
and its subsidiaries.  All significant intercompany transactions are
eliminated.

The unaudited financial information reflects all adjustments which are, in
the opinion of management, necessary for a fair presentation of the
statements contained herein.

2.   INVENTORIES

The composition of inventories is as follows:

                         January 31   July 31
                         (Unaudited) (Unaudited)
                            1997       1996

Finished goods           $6,243,125  $6,728,150
Packaging                3,308,545   3,754,087
Other                    728,068     1,254,831
                         $10,279,738 $11,737,068

Inventories are valued at the lower of cost or market.  Cost is determined
by the first-in, first-out method.

MANAGEMENT DISCUSSION AND ANALYSIS OF
FINANCIAL CONDITION AND RESULTS OF OPERATIONS

SIX MONTHS ENDED JANUARY 31, 1997 COMPARED TO SIX
MONTHS ENDED JANUARY 31, 1996

RESULTS OF OPERATIONS

Consolidated net sales for the six months ended January 31, 1997 were
$83,317,000, an increase of $2,212,000, or 2.7%, over net sales of
$81,105,000 in the first six months of fiscal 1996.  Net income for the six
months ended January 31, 1997 was $4,194,000 , or $0.63 per share, an
increase of 121.9% from $1,890,000, or $0.28 per share, earned in the first
six months of the prior year.

Net sales of cat box absorbents increased $2,508,000, or 5.2% over prior
year amounts, even though sales to Sam's Club were down approximately
$3,600,000 in the first six months compared to the same period of last
fiscal year.  The growth resulted from increased sales of branded and
private label products in both the grocery and mass merchandiser markets.
Net sales of agricultural and fluids purification products increased
$2,011,000, or 11.7%, from the comparable period in fiscal 1996.  The
higher sales resulted from increased demand of AGSORB carriers as well as
PURE-FLO  Supreme fluids purification products.  Net sales of industrial
and environmental sorbents decreased $878,000, or 9.9%, from prior year
levels.  The decrease resulted from lower net sales of industrial clay
absorbents ($651,000) and non-clay sorbents ($227,000) due to an increased
internal focus on profitability versus sales growth and open positions in
the sales force responsible for these products during the first quarter.
Net sales of transportation services decreased $824,000 or 17.6% from the
first six months of fiscal 1996 due to lower backhaul revenue.

Consolidated gross profit as a percentage of net sales for the six months 
ended January 31, 1997 increased to 31.1% from 29.6% in the comparable period 
of fiscal 1996.  Changes in sales mix and a Company-wide effort to reduce
costs contributed to this increase.

Operating expenses as a percentage of net sales decreased to 23.2% in the
first six months of fiscal 1997 from 25.7% in the same period of fiscal
1996.  This decrease is primarily attributable to lower advertising and
promotion costs for the new consumer products introduced last year and a
charge in the second quarter of fiscal 1996 of $921,000, reflecting
settlement cost and legal fees related to patent litigation.

Interest expense decreased $54,000 while interest income increased $27,000.

The Company's effective tax rate was 28.5% of pre-tax income in the first
six months of 1997 as compared to 28.0% for the same period of fiscal 1996.

The assets of the Company decreased $377,000 during the first six months of
fiscal 1997.  Current assets increased $902,000, or 1.9%, from fiscal 1996
year end balances primarily due to increased accounts receivable, and
prepaid expenses partially offset by lower inventory and cash and cash
equivalents levels.  Property, plant and equipment, net of accumulated
depreciation, decreased $1,466,000 during the first six months.

Total liabilities in the six months ended January 31, 1997 decreased
$1,923,000, due primarily to the repayment of long-term debt.  Current
liabilities decreased $400,000 or 2.2% from July 31, 1996 balances, due to
lower accounts payable, partially offset by higher current maturities of
notes payable.

EXPECTATIONS

The Company anticipates increased sales during the remainder of fiscal 1997
as compared to the same period of fiscal 1996.  Sales of branded cat box
absorbents are expected to increase moderately.  However this sales growth
is subject to continuing competition for shelf space in the grocery, mass
merchandiser and club markets.  The Company expects the profitability of
these products to favorably impact earnings as spending on advertising and
promotion remains at lower levels throughout the remainder of the current
fiscal year as compared to last year.  Sales of the Company's fluids
purification products are also expected to increase compared to the same
period of fiscal 1996, and the Company expects sales of its agricultural
products will remain strong in the foreseeable future due to strong export
demand.

The foregoing statements under this heading are "forward looking
statements" within the meaning of that term in the Securities Exchange Act
of 1934, as amended.  Actual results may be lower than those reflected in
these forward-looking statements, due primarily to:  continued vigorous
competition in the grocery, mass merchandiser and club markets; the level
of success of new products; and the cost of new product introductions and
promotions in consumer markets.  These forward-looking statements also
involve the risk of changes in market conditions in the overall economy
and, for the agricultural and fluids purification division, in the planting
activity, crop quality and overall agricultural demand, including export
demand.

LIQUIDITY AND CAPITAL RESOURCES

The current ratio increased slightly to 2.8 at January 31, 1997 from 2.7 at
July 31, 1996.  Working capital increased $1,303,000 in the six months
ended January 31, 1997 to $31,701,000.  Cash provided by operations
continues to be the Company's primary source of funds to finance operating
needs and capital expenditures.  During the six months ended January 31,
1997 the balances of cash, cash equivalents and other investments declined
$2,282,000 due to capital expenditures ($2,663,000), purchases of the
Company's common stock ($1,752,000), and reduction of debt ($1,547,000).
Total cash and investment balances held by the Company's foreign
subsidiaries at January 31, 1997 and 1996 were $2,629,000 and $2,505,000
respectively.

THREE MONTHS ENDED JANUARY 31, 1997 COMPARED TO
THREE MONTHS ENDED JANUARY 31, 1996

Consolidated net sales for the three months ended January 31, 1997 were
$42,792,000, an increase of $995,000 or 2.4%, over net sales of $41,797,000
in the second quarter of fiscal 1996.  Net income for the three months
ended January 31, 1997 was $2,264,000 or $0.34 per share, an increase of
374.4% from $477,000, or $0.07 per share, earned in last year's quarter.

Net sales of cat box absorbents increased $1,344,000 or 5.4% from fiscal
1996 second quarter results even though sales to Sam's Club were down
approximately $1,600,000 in the current quarter compared to the same
quarter of the prior year.  The growth resulted from increased sales of
branded and private label products in both the grocery and mass
merchandiser markets.  Net sales of agricultural and fluids purification
products increased $662,000, or 7.1% from the comparable period in fiscal
1996.  The higher sales resulted from increased demand for AGSORB carriers
as well as PURE-FLO Supreme fluids purification products.  Net sales of
industrial and environmental sorbents decreased $261,000, or 6.2%, from
prior year second quarter levels.  The decrease resulted from lower net
sales of industrial clay absorbents ($192,000) and non-clay sorbents
($69,000) due to an increased focus on profitability versus sales growth.
Net sales of transportation services decreased $403,000 or 18.0% from the
second quarter of fiscal 1996 due to lower backhaul revenue.

Consolidated gross profit as a percentage of net sales for the three months
ended January 31, 1997 increased to 31.9% from 29.5% in the comparable
period of fiscal 1996.  Changes in sales mix and a Company-wide effort to
reduce costs contributed to this increase.

Operating expenses as a percentage of net sales decreased to 23.6% in the
second quarter of fiscal 1997 from 27.6% in the same quarter of the prior
year.  This decrease is primarily due to lower advertising and promotion
costs for the new consumer products introduced during the second quarter of
last year, and a charge in the second quarter of fiscal 1996 of $921,000,
reflecting settlement cost and legal fees related to patent litigation.

Interest expense decreased $31,000 while interest income increased $29,000.

The Company's effective tax rate was 28.5% of pre-tax income in the second
quarter of 1997 as compared to 29.4% for the second quarter of fiscal 1996.

FOREIGN OPERATIONS

Net sales by the Company's foreign subsidiaries for the six months ended
January 31, 1997 were $6,120,000, or 7.3% of total Company sales.  This
represents a decrease of $94,000, or 1.5%, from the same period of fiscal
1996 in which foreign subsidiary sales were $6,214,000, or 7.7% of total
Company sales.  Net income of the foreign subsidiaries for the first six
months of fiscal 1997 was $431,000 compared with $275,000 in the same
period of fiscal 1996.  Identifiable assets of the Company's foreign
subsidiaries as of January 31, 1997 were $9,991,000 an increase of $847,000
from $9,144,000 as of January 31, 1996.

Net sales by the Company's foreign subsidiaries for the quarter ended
January 31, 1997 were $3,119,000 or 7.3% of total Company sales.  This
represents a decrease of $187,000, or 5.7%, from the same quarter in fiscal
1996, in which foreign subsidiary sales were $3,306,000, or 7.9% of total
Company sales.  Net income of the foreign subsidiaries for the second
quarter of fiscal 1997 was $286,000 compared to $51,000 in the same period
of fiscal 1996.

Part II - Other Information

ITEM 1.Legal Proceedings - On February 13, 1996 the Company entered into a
       settlement agreement related to a patent infringement action that
       had been initiated by Edward Lowe Industries, Inc. in the United
       States District Court for the Northern District of Illinois,
       Eastern Division against the Company and Marcal Paper Mills, Inc.
       The settlement prohibits the Company and Marcal Paper Mills, Inc.
       from producing and marketing cellulosic granules as carriers for
       use in agricultural applications for a period of eight years.
       Additionally the Company and Marcal have been licensed to develop,
       produce and market cellulosic granules as cat litter and other
       absorbent granular products.  The total pre-tax cost of the
       settlement, including legal expenses, was $921,000 and has been
       charged against earnings in the quarter ended January 31, 1996.

Item 4.Submission of matters to a votes of security holders - On December
       10, 1996 the 1996 Annual Meeting of Stockholders of Oil-Dri
       Corporation of America was held for the purpose of considering and
       voting on:

       1.   The election of ten directors.

       Election of Directors
      
       The following schedule sets forth the results of the vote to
       elect directors.

       Director                 Votes For            Votes Withheld
                                                      
       J. Steven Cole           23,865,355                  27,512
       Ronald B. Gordon         23,865,355                  27,512
       Daniel S. Jaffee         23,865,355                  27,512
       Richard M. Jaffee        23,865,344                  27,523
       Robert D. Jaffee         23,865,355                  27,512
       Edgar D. Jannotta        23,865,155                  27,712
       Joseph C. Miller         23,865,355                  27,512
       Paul J. Miller           23,865,355                  27,512
       Haydn H. Murray          23,865,355                  27,512
       Allan H. Selig           23,865,351                  27,516

ITEM 6.    (a) Exhibits:   The following documents are an exhibit to this
                           report.

                           Exhibit 11: Statement Re:  Computation of
                                       per share earnings.

                           Exhibit 27: Financial Data Schedule

             (b) During the quarter for which this report is filed, no
                 reports on Form 8-K were filed.

  

  
  
  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.

  OIL-DRI CORPORATION OF AMERICA
    (Registrant)

  BY /s/Michael L. Goldberg
     Michael L. Goldberg
     Vice President and Chief Financial Officer

  BY /s/Daniel S. Jaffee
     Daniel S. Jaffee
     President and Chief Operating Officer

  
  Dated:   March 12, 1997

  
  
                             INDEX TO EXHIBITS

EXHIBIT NUMBER           EXHIBIT TITLE             SEQUENTIALLY NUMBER PAGE
                                                   
(11)                     Statement Re:                        14
                         Computation of Per Share
                         Earnings

                                                                  Exhibit 11

                      OIL-DRI CORPORATION OF AMERICA
                  Computation of Weighted Average Number
                           of Shares Outstanding

                                                                 Average
                                                                 Shares-
                                                                 (Weighted
                                  Number Number of               Shares) Number
                                   of    Shares      Weighted    of Days
 Quarter End         Period       Days   Outstanding Shares      As Adjusted
                                   
 January 31,   11/01/96 to           25   6,670,051  166,751,275            
     1997      11/25/96                                     
               11/26/96 to            6   6,666,551  39,999,306            
               12/01/96                                      
               12/02/96 to            4   6,664,051  26,656,204            
               12/05/96                                      
               12/06/96 to            7   6,661,551  46,630,857            
               12/12/96                                      
               12/13/96 to            6   6,660,651  39,963,906            
               12/18/96                                      
               12/19/96 to           15   6,658,751  99,881,265            
               01/02/97                                      
               01/03/97 to            4   6,648,751  26,595,004            
               01/06/97                                      
               01/07/97 to           13   6,646,851  86,409,063            
               01/19/97                                      
               01/20/97 to            1   6,646,751  6,646,751            
               01/20/97
               01/21/97 to           11   6,616,951  72,786,461            
                                                             
                                     92              612,320,092   6,655,653

                                                                    2,083
                                                                    
                                                                    6,657,736

 January 31,   11/01/95 to           92   6,812,922 626,788,824             
     1996      01/31/96                                 
                                                             
                                     92             626,788,824    6,812,922

Assuming exercise of options reduced by the number of shares              
which could have been purchased with the proceeds from
exercise of such options.
                                                                   
                                                                   786
                                                                   
                                                                   6,813,708

                                                                          

                                                                     Average
                                                                     Shares-
                                                                     (Weighted
                                  Number Number of                   Shares)
                                  of     Shares       Weighted       Number of
  Six Months         Period       Days   Outstanding  Shares         Days As
    Ended                                                            Adjusted
                                    
January 31,    08/01/96 to           55   6,736,451   370,504,805           
    1997       09/24/96
               09/25/96 to            1   6,733,951   6,733,951           
               09/25/96
               09/26/96 to            1   6,717,551   6,717,551           
               09/26/96
               09/27/96 to            3   6,710,451   20,131,353           
               09/29/96
               09/30/96 to            1   6,708,451   6,708,451           
               09/30/96
               10/01/96 to            1   6,705,251   6,705,251           
               10/01/96
               10/02/96 to            1   6,702,251   6,702,251           
               10/02/96
               10/03/96 to           12   6,701,751  80,421,012           
               10/14/96
               10/15/96 to            1   6,698,451   6,698,451           
               10/15/96
               10/16/96 to            1   6,695,751   6,695,751           
               10/16/96
               10/17/96 to            1   6,690,251   6,690,251           
               10/17/96
               10/18/96 to           11   6,678,051  73,458,561           
               10/28/96
               10/29/96 to           28   6,670,051 186,761,428           
               11/25/96
               11/26/96 to            6   6,666,551  39,999,306           
               12/01/96
               12/02/96 to            4   6,664,051  26,656,204           
               12/05/96
               12/06/96 to            7   6,661,551  46,630,857           
               12/12/96
               12/13/96 to            6   6,660,651  39,963,906           
               12/18/96
               12/19/96 to           15   6,658,751  99,881,265           
               01/02/97
               01/03/97 to            4   6,648,751  26,595,004           
               01/06/97
               01/07/97 to           13   6,646,851  86,409,063           
               01/19/97
               01/20/97 to            1   6,646,751   6,646,751           
               01/20/97
               01/21/97 to           11   6,616,951  72,786,461           
               01/31/97
                                                              
                                    184           1,230,497,884     6,687,489

                                                                    1,731
                                                                    
                                                                    6,689,220

  Six Months
    Ended
                                  
January 31,    08/01/95 to            8   6,901,322 55,210,576           
1996           08/08/95
               08/09/95 to           63   6,841,322 431,003,286           
               10/10/95
               10/11/95 to            1   6,814,922 6,814,922           
               10/11/95
               10/12/95 to          112   6,812,922 763,047,264           
               01/01/96
                                                              
                                    184             1,256,076,048   6,826,500
                                                                          
Assuming exercise of options reduced by the number of shares              
which could have been purchased with the proceeds from exercise
of such options.
                                                                    
                                                                    2,146
                                                                    
                                                                    6,828,646

  

 5

                   6-MOS
                          JUL-31-1997
                               JAN-31-1997
                                       7,815,625
                                 1,610,000
                               24,366,103
                                   375,820
                                 10,279,738
                            49,112,569
                                     112,994,491
                            (56,248,350)
                             117,316,333
                       17,412,203
                                     17,132,000
                                0
                                          0
                                       723,551
                                  78,776,663
               117,316,333
                                     83,317,354
                            83,317,354
                                       57,390,621
                               57,390,621
                            18,994,190
                               150,000
                             916,745
                              5,865,798
                                 1,671,752
                          4,194,046
                                       0
                                      0
                                            0
                                 4,194,046
                                     0.63
                                     0.63