<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, 1996 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-01-1996
<PERIOD-END>                               MAR-31-1996
<CASH>                                             187
<SECURITIES>                                     1,298
<RECEIVABLES>                                    1,195
<ALLOWANCES>                                         0<F1>
<INVENTORY>                                        191
<CURRENT-ASSETS>                                 3,068
<PP&E>                                           2,218
<DEPRECIATION>                                   1,323
<TOTAL-ASSETS>                                   3,963
<CURRENT-LIABILITIES>                            3,474
<BONDS>                                             28
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<COMMON>                                         8,307
<OTHER-SE>                                    (18,566)
<TOTAL-LIABILITY-AND-EQUITY>                   (3,963)
<SALES>                                              0
<TOTAL-REVENUES>                                   985
<CGS>                                                0
<TOTAL-COSTS>                                      695
<OTHER-EXPENSES>                                     0
<LOSS-PROVISION>                                     0
<INTEREST-EXPENSE>                                   9
<INCOME-PRETAX>                                  (339)
<INCOME-TAX>                                         0
<INCOME-CONTINUING>                              (339)
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                     (339)
<EPS-PRIMARY>                                    (.34)
<EPS-DILUTED>                                    (.34)
<FN>
<F1>The Company Reports Accounts Receivable Net of Allowances for Doubtful Accounts.
</FN>