SECURITIES AND EXCHANGE COMMISSION

                           Washington, D. C.  20549

                                   FORM 8-K
                         
                                CURRENT REPORT

                      Pursuant to Section 13 or 15(d) of
                      the Securities Exchange Act of 1934

                       Date of Report:  January 26, 1998



                              Lab Holdings, Inc.          
            ------------------------------------------------------
            (Exact name of registrant as specified in its charter)

        Missouri                   0-16946                   43-1039532
   --------------------------------------------------------------------------
     (State of other     (Commission File Number)        (IRS Employer
     jurisdiction of                                    Identification
     incorporation)                                         Number)


     5000 W. 95th Street, Suite 260
     P. O. Box 7568
     Shawnee Mission, KS                                       66207 
   --------------------------------------------------------------------------
     (Address of principal executive offices)               (Zip code)


                               (913)  652-1000           
   --------------------------------------------------------------------------
            (Registrant's telephone number, including area code)

 
                        Seafield Capital Corporation
   --------------------------------------------------------------------------
   (Registrant's former name or former address, if changed since last report)





Item 5.     Other Events

On January 26, 1998, the Registrant issued the following two news releases:

"SHAWNEE MISSION, KS -  Lab Holdings, Inc. (formerly Seafield Capital 
Corporation) announced today that LabOne, Inc. (LabOne), its 81%-owned 
subsidiary, reported a net loss of $2.4 million for the fourth quarter 
1997, which includes a one-time, non-cash, pre-tax write off of $6.6 
million related to the anticipated sale of its current facilities.

The text of LabOne's January 26, 1998 release is as follows:
`LENEXA, KANSAS - LabOne, Inc. reported a net loss of $2.4 million for the 
fourth quarter 1997 which includes a one-time, non-cash, pre-tax write off 
of $6.6 million related to the anticipated sale of its current facilities.  
Construction of LabOne's new facility is currently underway with completion 
scheduled for early 1999. The net loss of $2.4 million or $0.18 per share 
compared to net earnings of $1.0 million or $0.08 per share for the fourth 
quarter 1996. Excluding the one-time write off, LabOne would have reported 
net earnings of $1.6 million or $0.12 per share for the fourth quarter. 

LabOne also reported a 27 percent increase in revenue to $21.2 million for 
the fourth quarter 1997, compared to $16.6 million for the fourth quarter 
of 1996. In the fourth quarter 1997, insurance segment revenue increased 19 
percent to $16.5 million, clinical segment revenue increased 59 percent to 
$2.0 million, and substance abuse testing segment revenue increased 78 
percent to $2.6 million from the fourth quarter 1996.

For the year ended Dec. 31, 1997, revenue increased 33 percent to $78.9 
million, from $59.4 million in 1996. Net earnings declined from $2.9 
million or $0.22 per share in 1996 to $2.2 million or $0.17 per share in 
1997.  Excluding the one-time expense, net earnings would have increased to 
$6.1 million or $0.46 per share in 1997.  

`We experienced a very successful year for LabOne in 1997,' said W. Thomas 
Grant II, chairman, president and CEO of LabOne.  `From last year, clinical 
revenue increased 91 percent, insurance revenue increased 22 percent and 
substance abuse testing revenue increased 101 percent.  Excluding the one-
time write off, these substantial increases in revenue resulted in a 114 
percent increase in net income over 1996.  The write off associated with 
the sale of our current facility is a necessary step in the transition into 
our new facility by the beginning of 1999.'

LabOne also announced today that BlueCross BlueShield of Tennessee has 
selected LabOne to provide routine outpatient laboratory testing services 
for BlueCare members throughout Tennessee. Approximately 425,000 BlueCare 
members will be covered by the program.  BlueCare is BlueCross BlueShield 
of Tennessee's plan for Tenncare participants.  (Please refer to the 
separate press release for more information.)

`We are extremely pleased with the continued growth of our clinical 
division,' continued Grant. `This contract is a direct reflection of our 
commitment to provide high-quality testing and information to clients 
across the United States.  To date, our Laboratory Benefit Management 
Programs, including BlueCare, have more than 1.8 million lives enrolled 
with more than 300,000 lives awaiting implementation.'

LabOne operates a centralized laboratory in the Kansas City area which 
markets laboratory testing services in the United States and Canada.'

For information, contact:    Robert D. Thompson     Kurt E. Gruenbacher
                             LabOne, Inc.           LabOne, Inc.
                             (913) 888-1770,        (913) 888-1770,
                                   ext. 1244              ext. 1445

Lab Holdings, Inc. will release its 1997 year-end financial results on or 
before February 4, 1998."




"SHAWNEE MISSION, KS -  Lab Holdings, Inc. (formerly Seafield Capital 
Corporation) announced today that LabOne, Inc. (LabOne), its 81%-owned 
subsidiary, has been selected by BlueCross BlueShield of Tennessee to 
provide routine outpatient laboratory testing services for BlueCare members 
throughout Tennessee.

The text of LabOne's January 26, 1998 release is as follows:

`LENEXA, KANSAS - LabOne, Inc. announced today that BlueCross BlueShield of 
Tennessee has selected LabOne to provide routine outpatient laboratory 
testing services for BlueCare members throughout Tennessee.  Approximately 
425,000 BlueCare Members will be covered by the program.  BlueCare is 
BlueCross BlueShield of Tennessee's plan for Tenncare participants.

LabOne was awarded the contract based on its ability to provide high-
quality testing, quick turnaround times and disease management information.

`Based on our assessment of available providers, LabOne can provide unique 
information management services, including statistical reporting to track 
trends, practice patterns and outcome/effectiveness of initiatives,' wrote 
Greg Preston, M.D., Chief Medical Officer for BlueCare in a letter to 
Tennessee physicians.  `We believe sharing this data, especially with 
primary care managers for their assigned members, will assist in improving 
the quality of care for BlueCare members.'

`We are extremely pleased with the continued growth of our clinical 
division,' said W. Thomas Grant II, Chairman, President and CEO of LabOne.  
`This contract is a direct reflection of our commitment to provide high-
quality testing and information to clients across the United States.'

LabOne operates a centralized laboratory in the Kansas City area which 
markets laboratory testing services in the United States and Canada.'

For information, contact:  Robert D. Thompson     Kurt E. Gruenbacher
                           LabOne, Inc.           LabOne, Inc.
                           (913) 888-1770,        (913) 888-1770,
                                 ext. 1244              ext. 1445"



                                 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 hereunto duly authorized officer.


                                           Lab Holdings, Inc.



Date:  January 27, 1998                    By: /s/ Steven K. Fitzwater 
                                               ---------------------------
                                               Steven K. Fitzwater
                                               Vice President, Chief Financial
                                               Officer and Secretary