EXHIBIT 11


                    BAIRNCO CORPORATION AND SUBSIDIARIES
            CALCULATION OF BASIC AND DILUTED EARNINGS PER SHARE
            FOR THE YEARS ENDED DECEMBER 31, 1998, 1997 AND 1996
            

            
                                   1998          1997          1996
                                                      
BASIC EARNINGS PER COMMON SHARE:

Net Income                         $1,594,000    $8,771,000    $8,335,000

Average common shares outstanding   8,655,000     9,151,000     9,753,000

Basic Earnings Per Common Share    $     0.18    $     0.96    $     0.85


DILUTED EARNINGS PER COMMON SHARE:

Net Income                         $1,594,000    $8,771,000    $8,335,000

Average common shares outstanding   8,655,000     9,151,000     9,753,000

Common shares issuable in respect
  to options issued to employees
  with a dilutive effect              163,000       199,000        98,000

    Total common shares assuming
      full dilution                 8,818,000     9,350,000     9,851,000

Diluted Earnings Per Common Share  $     0.18    $     0.94    $     0.85

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