<ARTICLE> 5
<LEGEND>
THE SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE 
FINANCIAL STATEMENTS CONTAINED IN ARNOLD INDUSTRIES, INC.'S FORM 10-Q FOR 
THE THREE MONTHS ENDED MARCH 31, 1997, AND IS QUALIFIED IN ITS ENTIRETY 
BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
       
                                        
<PERIOD-TYPE>                              3-MOS
<FISCAL-YEAR-END>                          DEC-31-1997
<PERIOD-END>                               MAR-31-1997
<CASH>                                      21,737,918
<SECURITIES>                                26,617,818
<RECEIVABLES>                               36,452,583
<ALLOWANCES>                                 2,065,694
<INVENTORY>                                          0
<CURRENT-ASSETS>                            94,411,381
<PP&E>                                     329,321,123
<DEPRECIATION>                             128,228,089
<TOTAL-ASSETS>                             314,956,588
<CURRENT-LIABILITIES>                       53,132,373
<BONDS>                                              0
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<COMMON>                                    29,942,628
<OTHER-SE>                                 183,520,768
<TOTAL-LIABILITY-AND-EQUITY>               314,956,588
<SALES>                                              0
<TOTAL-REVENUES>                            90,539,222
<CGS>                                                0
<TOTAL-COSTS>                               78,991,269
<OTHER-EXPENSES>                                     0
<LOSS-PROVISION>                               303,245
<INTEREST-EXPENSE>                             331,258
<INCOME-PRETAX>                             11,432,016
<INCOME-TAX>                                 4,110,860
<INCOME-CONTINUING>                          7,321,156
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                 7,321,156
<EPS-PRIMARY>                                      .27
<EPS-DILUTED>                                      .27