<ARTICLE> 5
<LEGEND>
THE SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
FINANCIAL STATEMENTS OF ALLIS-CHALMERS CORPORATION AS OF AND FOR THE
SIX MONTHS ENDED JUNE 30, 1996 AND IS QUALIFIED IN ITS ENTIRETY BY
REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<MULTIPLIER> 1,000
       
                             
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          DEC-31-1996
<PERIOD-START>                             JAN-01-1996
<PERIOD-END>                               JUN-30-1996
<CASH>                                             521
<SECURITIES>                                     1,097
<RECEIVABLES>                                      910
<ALLOWANCES>                                         0<F1>
<INVENTORY>                                        151
<CURRENT-ASSETS>                                 2,874
<PP&E>                                           2,245
<DEPRECIATION>                                   1,351
<TOTAL-ASSETS>                                   3,768
<CURRENT-LIABILITIES>                            3,358
<BONDS>                                             21
<PREFERRED-MANDATORY>                            8,307
<PREFERRED>                                          0
<COMMON>                                             0
<OTHER-SE>                                    (18,944)
<TOTAL-LIABILITY-AND-EQUITY>                   (3,768)
<SALES>                                              0
<TOTAL-REVENUES>                                 2,141
<CGS>                                                0
<TOTAL-COSTS>                                    1,509
<OTHER-EXPENSES>                                     0
<LOSS-PROVISION>                                     0
<INTEREST-EXPENSE>                                  15
<INCOME-PRETAX>                                  (717)
<INCOME-TAX>                                         0
<INCOME-CONTINUING>                              (717)
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                     (717)
<EPS-PRIMARY>                                    (.71)
<EPS-DILUTED>                                    (.71)
<FN>
<F1>The Company Reports Accounts Receivable Net of Allowance for Doubtful Accounts.
</FN>