<ARTICLE> 5
<LEGEND>
THE SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE FINANCIAL
STATEMENTS OF ALLIS-CHALMERS CORPORATION AS OF AND FOR THE THREE MONTHS ENDED
MARCH 31, 1995 AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL
STATEMENTS.
</LEGEND>
<MULTIPLIER> 1,000
       
                             
<PERIOD-TYPE>                   3-MOS
<FISCAL-YEAR-END>                          DEC-31-1995
<PERIOD-START>                             JAN-01-1995
<PERIOD-END>                               MAR-31-1995
<CASH>                                             273
<SECURITIES>                                     1,893
<RECEIVABLES>                                    1,263
<ALLOWANCES>                                         0<F1>
<INVENTORY>                                        101
<CURRENT-ASSETS>                                 3,625
<PP&E>                                           2,099
<DEPRECIATION>                                   1,204
<TOTAL-ASSETS>                                   4,520
<CURRENT-LIABILITIES>                            1,201
<BONDS>                                            321
<COMMON>                                         8,307
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<OTHER-SE>                                    (15,638)
<TOTAL-LIABILITY-AND-EQUITY>                     4,520
<SALES>                                              0
<TOTAL-REVENUES>                                   769
<CGS>                                                0
<TOTAL-COSTS>                                      587
<OTHER-EXPENSES>                                     0
<LOSS-PROVISION>                                     0
<INTEREST-EXPENSE>                                   8
<INCOME-PRETAX>                                  (432)
<INCOME-TAX>                                         0
<INCOME-CONTINUING>                              (432)
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                     (432)
<EPS-PRIMARY>                                    (.43)
<EPS-DILUTED>                                    (.43)
<FN>
<F1>THE COMPANY REPORTS ACCOUNTS RECEIVABLE NET OF ALLOWANCES FOR DOUBTFUL
ACCOUNTS.
</FN>