10-Q/A

	FORM 10-Q/A

	SECURITIES AND EXCHANGE COMMISSION

	WASHINGTON, D.C. 20549

(X)	QUARTERLY REPORT UNDER SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended    September 30, 1998

	OR

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

for the transition period from             to          
 
For Quarter Ended				Commission File Number

  September 30, 1998 				       1-7183  
 

                   TEJON RANCH CO.                     
 
(Exact name of Registrant as specified in its charter)

     Delaware                	              77-0196136           
 
(State or other jurisdiction of  (IRS Employer Identification No.)
 incorporation or organization)

P.O. Box 1000, Lebec, California        			   93243  
 
(Address of principal executive offices)			(Zip Code)

Registrant's telephone number, including area code...(805) 248-6774

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 Registrant was required to file 
such reports), and (2) has been subject to such filing requirements 
for the past 90 days.

Yes  X  	No    

Total Shares of Common Stock issued and outstanding on September 
30,1998, were 12,691,253.

	TEJON RANCH CO.

	INDEX

Page No.


SIGNATURES								 1

PART III	EXHIBIT INDEX								 2



	SIGNATURES

Pursuant to the requirements of the Securities and Exchange Act of 
1934, Registrant has duly caused this report to be signed on its 
behalf by the undersigned thereunto duly authorized.



TEJON RANCH CO.          		 
         					(Registrant)



                Date   		BY                         			
	              			       Allen E. Lyda
                         Vice President, Finance
                         & Treasurer (Principal Financial   
                         Officer

	EXHIBIT INDEX


Exhibit No.	Exhibit Description

27.1			Financial Data Schedule (Edgar),		        5
September 30, 1998	



 *	This document, filed with the Securities Exchange Commission in 
Washington D.C. (file number 1-7183) under Item 14 to 
Registrant's Annual Report on Form 10-K for year ended December 
31, 1987, is incorporated herein by reference.



- - 1 -

EX-27

 

<ARTICLE> 5
<LEGEND>
This schedule contains summary financial information extracted from the balance
sheet, income statement, and footnotes and is qualified in its entirity by
reference to such financial statements.

<MULTIPLIER> 1,000
       
                             
<PERIOD-TYPE>                   9-MOS
<FISCAL-YEAR-END>                          DEC-31-1998
<PERIOD-END>                               SEP-30-1998
<CASH>                                           1,468
<SECURITIES>                                    13,965
<RECEIVABLES>                                    6,897
<ALLOWANCES>                                         0
<INVENTORY>                                     17,526
<CURRENT-ASSETS>                                41,285
<PP&E>                                          41,396
<DEPRECIATION>                                  17,411
<TOTAL-ASSETS>                                  67,056
<CURRENT-LIABILITIES>                           19,499
<BONDS>                                              0
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<COMMON>                                         6,346
<OTHER-SE>                                      34,090
<TOTAL-LIABILITY-AND-EQUITY>                    67,056
<SALES>                                         32,605
<TOTAL-REVENUES>                                32,605
<CGS>                                           29,570
<TOTAL-COSTS>                                   29,570
<OTHER-EXPENSES>                                 1,832
<LOSS-PROVISION>                                     0
<INTEREST-EXPENSE>                                 780
<INCOME-PRETAX>                                    423
<INCOME-TAX>                                       161
<INCOME-CONTINUING>                                262
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                       262
<EPS-PRIMARY>                                      .02
<EPS-DILUTED>                                      .02