EXHIBIT 11.1

                           BAIRNCO CORPORATION
           CALCULATION OF BASIC AND DILUTED EARNINGS PER SHARE
          FOR THE QUARTERS ENDED JULY 4, 1998 AND JUNE 28, 1997
                               (Unaudited)


                                            1998           1997
                                                     
BASIC EARNINGS PER COMMON SHARE:

Net income                                  $  1,588,000   $  2,347,000

Average common shares outstanding              8,746,000      9,198,000

Basic Earnings Per Common Share             $       0.18   $       0.26


DILUTED EARNINGS PER COMMON SHARE:

Net income                                  $  1,588,000   $  2,347,000

Average common shares outstanding              8,746,000      9,198,000
Common shares issuable in respect to 
  options issued to employees with a 
  dilutive effect                                252,000        142,000
Total diluted common shares outstanding        8,998,000      9,340,000

Diluted Earnings Per Common Share           $       0.18   $       0.25


Basic earnings per common share were computed by dividing net
income by the weighted average number of common shares
outstanding during the quarter.  Diluted earnings per common
share include the effect of all dilutive stock options.