NOTE: PEOPLES TELEPHONE COMPANY, INC. 10-Q/A NO. 1, PERIOD 03/31/95 WAS FILED 
      AND ACCEPTED ON JUNE 16, 1995. THE SIGNATURE PAGE WAS DATED INCORRECTLY.
      JOE BABITS, EDGAR RULES, CORPORATE FINANCE HAS INSTRUCTED
      US TO CORRECT THAT ERROR BY FILING THIS AMENDMENT NO. 2.



                             FORM 10-Q/A NO. 2

                    SECURITIES AND EXCHANGE COMMISSION
                          Washington, D.C. 20549

                Quarterly Report Under Section 13 or 15(d)
                  of the Securities Exchange Act of 1934

        For Quarter Ended: 3/31/95 Commission File Number: 0-16479

                      PEOPLES TELEPHONE COMPANY, INC.
          (Exact Name of registrant as specified in its charter)

           NEW YORK                                               13-2626435
(State or other jurisdiction of                                (I.R.S. Employer
 incorporation or organization)                                    I.D. No.)

              2300 NORTHWEST 89TH PLACE, MIAMI, FLORIDA 33172
            (Address of principal executive offices) (Zip Code)

               Registrant's telephone number: (305) 593-9667

                           --------------------




                                 SIGNATURE

     Pursuant to the requirements of the Securities Exchange Act of
1934, the Registrant has duly caused this report to be signed on its behalf
by the undersigned thereunto duly authorized.

                                           PEOPLES TELEPHONE COMPANY, INC.

Date: June 16, 1995                        /S/ BONNIE S. BIUMI
                                           ------------------------------
                                           Bonnie S. Biumi
                                           Chief Financial Officer

                                    14


                                 SIGNATURE

     Pursuant to the requirements of the Securities Exchange Act of
1934, the Registrant has duly caused this report to be signed on its behalf
by the undersigned thereunto duly authorized.

                                           PEOPLES TELEPHONE COMPANY, INC.

Date: June 21, 1995                        /S/ BONNIE S. BIUMI
                                           ------------------------------
                                           Bonnie S. Biumi
                                           Chief Financial Officer

                                    15