Pricing Supplement No. 39                           Filing Under
(To Prospectus Supplement dated July 1, 1994        Rule 424(b)(2)
 including the Prospectus dated June 29, 1994)
                                                    Registration
Trade Date:  6/21/95                                File No.
                                                    33-53779

                       Alco Capital Resource, Inc.
- ------------------------------------------------------------------------------
      
                           Medium Term Notes

CUSIP:  01374QAT5
Principal Amount:  5,000,000
Interest Rate (if fixed rate):  6.25%
Interest Payment Date(s):  N/A
   (other than June 15 and December 15)
Regular Record Date(s):  N/A
   (other than May 31 and November 30)
Stated Maturity:  6/24/98
Specified Currency:  US Dollars
Applicable Exchange Rate (if any):  N/A
        US Dollar $1.00 = N/A
Issue Price (as a percentage of
             principal amount):  100%
Selling Agent:
  -Lehman Brothers: ______________
  -Chase Securities, Inc.:  ______X_______
  -Goldman, Sachs & Co.:  _________
  -Merrill Lynch & Co.:  ___________
  -Other:  ____________
Selling Agent's Commission (%):  .35%
Purchasing Agent:  N/A
Purchasing Agent's Discount or
              Commission (%):  N/A
Type of Sale:
       As Agent:  X   As Principal:  ______
Net proceeds to the Company:  4,982,500
Settlement date (original issue date):  6/26/95
Redemption Commencement Date (if any):  N/A
Redemption Period: N/A
Exchange Rate Agent:  N/A
Original Issue Discount Security:
    Yes: ______  No: ___X___ 
                   
Form:
    Book Entry:  X     Certificated: ______ 
Floating Rate Notes: N/A
           Interest Rate Basis: N/A
  -Commercial Paper Rate: ________________
  -Prime Rate: ___________________________
  -LIBOR: ________________________________
  -Treasury Rate: ________________________
  -CD Rate: ______________________________
  -Federal Funds Rate: ___________________
  -Other: ________________________________

Index Maturity: N/A
Spread: N/A
Spread Multiplier: N/A
Maximum Interest Rate: N/A
Minimum Interest Rate: N/A
Initial Interest Rate: N/A
      Interest Reset Date(s)
      (if semi-annually or annually):

      ------------------------------------
         Third Wednesday of: N/A
           Interest Reset Date (if weekly,
           monthly, or quarterly): _______
Interest Determination Date(s): N/A
Calculation Date(s): N/A
Calculation Agent: N/A
Interest Payment Date(s): N/A
      (other than June 15 and December 15)
Regular Record Date(s): N/A
      (other than May 31 and November 30)
Interest Reset Period: N/A



Authorized by: /s/ Kathleen M. Burns
               ---------------------