10-Q/A

                     SECURITIES AND EXCHANGE COMMISSION
                           Washington, D.C. 20549
                  _______________________________________

                                FORM 10-Q/A
                            Amendment No. 1 to

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

For the quarterly period ended  March 31, 1995              

Commission file number 0-4979           
                                      

                                      
                          SQUARE INDUSTRIES, INC. 
   ______________________________________________________________________
                                      
           (Exact name of Registrant as specified in its Charter)
                                      

      NEW YORK                                     13-2610905     
(State or other jurisdiction of               (I.R.S. Employer
 incorporation or organization)               Identification No.)


 921 Bergen Avenue, Jersey City, New Jersey             07306     
 (Address of principal executive offices)           (Zip Code)

Registrant's telephone number, including area code  (201) 798-0090            



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 issuer was
required to file such reports), and (2) has been subject to filing requirements
for the past 90 days.
                       Yes [X]          No [ ]

Shares of Common Stock outstanding at March 31, 1995: 1,166,356


                       PART II--OTHER INFORMATION



Item 6. --Exhibits and Report on Form 8-K

       (a)  Exhibits

            27   -    Financial Statement Schedule

       (b)  A Report on Form 8-K dated January 11, 1995 providing information 
under Item 8 was filed during the quarter ended March 31, 1995.



                            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.



                              SQUARE INDUSTRIES, INC.




                              /s/Sanford Harwood                
                              Sanford Harwood
                              Assistant Chairman


Dated:  June 30, 1995

EX-27

 

<ARTICLE> 5
<LEGEND>  
THE SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
UNAUDITED CONSOLIDATED BALANCE SHEET AS OF MARCH 31, 1995 AND THE UNAUDITED 
STATEMENT OF INCOME FOR THE THREE MONTHS THEN ENDED CONTAINED IN THE REPORT ON 
FORM 10-Q FOR THE THREE MONTHS ENDED MARCH 31, 1995 OF SQUARE INDUSTRIES, INC. 
AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
       
                             
<PERIOD-TYPE>                   3-MOS
<FISCAL-YEAR-END>                          DEC-31-1995
<PERIOD-END>                               MAR-31-1995
<CASH>                                       1,945,000
<SECURITIES>                                         0
<RECEIVABLES>                                  560,000
<ALLOWANCES>                                         0
<INVENTORY>                                          0
<CURRENT-ASSETS>                             5,275,000
<PP&E>                                      25,038,000
<DEPRECIATION>                                       0
<TOTAL-ASSETS>                              34,209,000
<CURRENT-LIABILITIES>                        8,216,000
<BONDS>                                              0
<COMMON>                                        12,000
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<OTHER-SE>                                   4,471,000
<TOTAL-LIABILITY-AND-EQUITY>                34,209,000
<SALES>                                              0
<TOTAL-REVENUES>                            16,291,000
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<OTHER-EXPENSES>                             1,864,000
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<INTEREST-EXPENSE>                             488,000
<INCOME-PRETAX>                                252,000
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<INCOME-CONTINUING>                            106,000
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<NET-INCOME>                                   106,000
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