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<SEC-DOCUMENT>0000902664-97-000381.txt : 19971211
<SEC-HEADER>0000902664-97-000381.hdr.sgml : 19971211
ACCESSION NUMBER:		0000902664-97-000381
CONFORMED SUBMISSION TYPE:	SC 13D
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		19971210
SROS:			NASD
GROUP MEMBERS:		FARLEY CAPITAL L.P.
GROUP MEMBERS:		FARLEY CAPITAL LP
GROUP MEMBERS:		LABRADOR PARTNERS L.P.
GROUP MEMBERS:		STEPHEN L. FARLEY

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			INTERNATIONAL SPEEDWAY CORP
		CENTRAL INDEX KEY:			0000051548
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-RACING, INCLUDING TRACK OPERATION [7948]
		IRS NUMBER:				590709342
		STATE OF INCORPORATION:			FL
		FISCAL YEAR END:			0831

	FILING VALUES:
		FORM TYPE:		SC 13D
		SEC ACT:		
		SEC FILE NUMBER:	005-36579
		FILM NUMBER:		97735359

	BUSINESS ADDRESS:	
		STREET 1:		1801 W INTERNATIONAL SPEEDWAY BLVD
		CITY:			DAYTONA BEACH
		STATE:			FL
		ZIP:			32114-1243
		BUSINESS PHONE:		9042542700

	MAIL ADDRESS:	
		STREET 1:		1801 WEST INTERNATIONAL SPEEDWAY CORP
		CITY:			DAYTONA BEACH
		STATE:			FL
		ZIP:			32114-1243

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	DAYTONA INTERNATIONAL SPEEDWAY CORP
		DATE OF NAME CHANGE:	19691130

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	FRANCE BILL RACING INC
		DATE OF NAME CHANGE:	19670227

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			FARLEY CAPITAL LP
		CENTRAL INDEX KEY:			0001041997
		STANDARD INDUSTRIAL CLASSIFICATION:	 []
		IRS NUMBER:				22303425

	FILING VALUES:
		FORM TYPE:		SC 13D

	BUSINESS ADDRESS:	
		STREET 1:		655 THIRD AVE
		STREET 2:		SUITE 2520
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10017
		BUSINESS PHONE:		2125577776

	MAIL ADDRESS:	
		STREET 1:		655 THIRD AVE
		STREET 2:		SUITE 2520
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10017
</SEC-HEADER>
<DOCUMENT>
<TYPE>SC 13D
<SEQUENCE>1
<TEXT>

                                UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION                
                            Washington, D.C. 20549
                            ______________________

                                 SCHEDULE 13D

                   Under the Securities Exchange Act of 1934

                          INTERNATIONAL SPEEDWAY CORPORATION
                                  (Name of Issuer)

                         Class A COMMON STOCK, $.01 PAR VALUE
                           (Title of Class of Securities)


                                  460335201
                                 (CUSIP Number)

                               STEPHEN L. FARLEY
                              FARLEY CAPITAL L.P.
                          655 THIRD AVENUE, SUITE 2520
                            NEW YORK, NEW YORK  10017
                                (212) 557-7776

                (Name, address and telephone number of person
               authorized to receive notices and communications)

                                 November 14, 1997
            (Date of event which Requires Filing of this Statement)

      If the filing person has previously filed a statement on Schedule 13D, 
and is filing this schedule because of Rule 13d-1(b)(3) or (4), check the 
following box. [ ]. 

      Check the following box if a fee is being paid with the statement  [ ]. 
(A fee is not required only if the reporting person:  (1) has a previous 
statement on file reporting beneficial ownership of more than five percent of 
the class of securities described in Item 1; and (2) has filed no amendment 
subsequent thereto reporting beneficial ownership of five percent or less of 
such class.)  (See Rule 13d-7.)

      NOTE:  Six copies of this statement, including all exhibits, should be 
filed with the Commission.  See Rule 13d-1(a) for other parties to whom copies 
are to be sent.

      The remainder of this cover page shall be filled out for a reporting 
person's initial filing on this form with respect to the subject class of 
securities, and for any subsequent amendment containing information which 
would alter the disclosures provided in a prior cover page.

      The information required in the remainder of this cover page shall not 
be deemed to be "filed" for purposes of Section 18 of the Securities Exchange 
Act of 1934 ("Act") or otherwise subject to the liabilities of that section of 
the Act but shall be subject to all other provisions of the Act (however, see 
the Notes).
                                Page 1 of 13 pages
                                      <PAGE>


13D
CUSIP NO.  460335201
- ------------------------------------------------------------------------------
     (1)  NAME OF REPORTING PERSON 
          S.S. OR I.R.S. IDENTIFICATION NO. 
          OF ABOVE PERSON 
                              Labrador Partners L.P.

- ------------------------------------------------------------------------------
     (2)  CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP *
                                                                    (a)  [x] 
                                                                    (b)  [ ] 
- ------------------------------------------------------------------------------
     (3)  SEC USE ONLY 
- ------------------------------------------------------------------------------
     (4)  SOURCE OF FUNDS **
                        WC
- ------------------------------------------------------------------------------
     (5)  CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS 
          REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e)                        [ ] 
- ------------------------------------------------------------------------------
     (6)  CITIZENSHIP OR PLACE OF ORGANIZATION 
                              Delaware
- ------------------------------------------------------------------------------

NUMBER OF      (7)  SOLE VOTING POWER 
                                       - 0 -
SHARES         ---------------------------------------------------------------

BENEFICIALLY   (8)  SHARED VOTING POWER
                                       383,000
OWNED BY       ---------------------------------------------------------------

EACH           (9)  SOLE DISPOSITIVE POWER 
                                       - 0 -
REPORTING      ---------------------------------------------------------------

PERSON WITH    (10) SHARED DISPOSITIVE POWER 
                                       383,000
- ------------------------------------------------------------------------------
      (11)  AGGREGATE AMOUNT BENEFICIALLY OWNED
            BY EACH REPORTING PERSON 
                                               383,000 
- ------------------------------------------------------------------------------
      (12)  CHECK BOX IF THE AGGREGATE AMOUNT 
            IN ROW (11) EXCLUDES CERTAIN SHARES *                        [ ] 
- ------------------------------------------------------------------------------
      (13)  PERCENT OF CLASS REPRESENTED 
            BY AMOUNT IN ROW (11)           
                                                7.2%
- ------------------------------------------------------------------------------
          (14)  TYPE OF REPORTING PERSON*
                                                PN
- ------------------------------------------------------------------------------
                  ** SEE INSTRUCTIONS BEFORE FILLING OUT!
                                Page 2 of 13 pages
                                       <page


13D
CUSIP No.  460335201
- ------------------------------------------------------------------------------
     (1)  NAME OF REPORTING PERSON 
          S.S. OR I.R.S. IDENTIFICATION NO. 
          OF ABOVE PERSON 
                              Farley Capital L.P.

- ------------------------------------------------------------------------------
     (2)  CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
                                                                    (a)  [x] 
                                                                    (b)  [ ] 
- ------------------------------------------------------------------------------
     (3)  SEC USE ONLY 
- ------------------------------------------------------------------------------
     (4)  SOURCE OF FUNDS
                        00
- ------------------------------------------------------------------------------
     (5)  CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
          REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e)                        [ ]
- ------------------------------------------------------------------------------
     (6)  CITIZENSHIP OR PLACE OF ORGANIZATION
                                 Delaware
- ------------------------------------------------------------------------------

NUMBER OF      (7)  SOLE VOTING POWER
                                        - 0 -
SHARES         ---------------------------------------------------------------

BENEFICIALLY   (8)  SHARED VOTING POWER
                                        51,100
OWNED BY       ---------------------------------------------------------------

EACH           (9)  SOLE DISPOSITIVE POWER
                                        - 0 -
REPORTING      ---------------------------------------------------------------

PERSON WITH    (10) SHARED DISPOSITIVE POWER
                                        51,100
- ------------------------------------------------------------------------------
      (11)  AGGREGATE AMOUNT BENEFICIALLY OWNED
            BY EACH REPORTING PERSON 
                                        51,100
- ------------------------------------------------------------------------------
      (12)  CHECK BOX IF THE AGGREGATE AMOUNT 
            IN ROW (11) EXCLUDES CERTAIN SHARES*                         [ ]
- ------------------------------------------------------------------------------
      (13)  PERCENT OF CLASS REPRESENTED 
            BY AMOUNT IN ROW (11)           
                                         1.0%
- ------------------------------------------------------------------------------
          (14)  TYPE OF REPORTING PERSON*
                                         PN
- ------------------------------------------------------------------------------
                  ** SEE INSTRUCTIONS BEFORE FILLING OUT!
                                Page 3 of 13 pages
                                    <page


13D
CUSIP NO.  460335201
- ------------------------------------------------------------------------------
     (1)  NAME OF REPORTING PERSON 
          S.S. OR I.R.S. IDENTIFICATION NO. 
          OF ABOVE PERSON 
                              Stephen L. Farley
- ------------------------------------------------------------------------------
     (2)  CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
                                                                    (a)  [x]
                                                                    (b)  [ ]
- ------------------------------------------------------------------------------
     (3)  SEC USE ONLY 
- ------------------------------------------------------------------------------
     (4)  SOURCE OF FUNDS
                        AF
- ------------------------------------------------------------------------------
     (5)  CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
          REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e)                        [ ]
- ------------------------------------------------------------------------------
     (6)  CITIZENSHIP OR PLACE OF ORGANIZATION 
                              United States
- ------------------------------------------------------------------------------

NUMBER OF      (7)  SOLE VOTING POWER
                                      - 0 -
SHARES         ---------------------------------------------------------------

BENEFICIALLY   (8)  SHARED VOTING POWER
                                      434,100
OWNED BY       ---------------------------------------------------------------

EACH           (9)  SOLE DISPOSITIVE POWER
                                      - 0 -
REPORTING      ---------------------------------------------------------------

PERSON WITH    (10) SHARED DISPOSITIVE POWER
                                      434,100
- ------------------------------------------------------------------------------
      (11)  AGGREGATE AMOUNT BENEFICIALLY OWNED
            BY EACH REPORTING PERSON 
                                      434,100
- ------------------------------------------------------------------------------
      (12)  CHECK BOX IF THE AGGREGATE AMOUNT 
            IN ROW (11) EXCLUDES CERTAIN SHARES*                        [ ] 
- ------------------------------------------------------------------------------
      (13)  PERCENT OF CLASS REPRESENTED 
            BY AMOUNT IN ROW (11)           
                                        8.2%
- ------------------------------------------------------------------------------
      (14)  TYPE OF REPORTING PERSON*
                                        IN
- ------------------------------------------------------------------------------
                  ** SEE INSTRUCTIONS BEFORE FILLING OUT!
                                Page 4 of 13 pages
                                    <page


ITEM 1.  SECURITY AND ISSUER.

          This statement on Schedule 13D (the "Statement") is filed with the 
Securities and Exchange Commission (the "Commission") by persons named in Item 
2 below on December 9, 1997 relating to the Class A common stock, par value 
$.01 per share ("Common Stock"), of International Speedway Corporation, a 
Florida corporation (the "Issuer"), with its principal executive offices 
located at 1801 West International Speedway Blvd., Daytona Beach, Florida 
32114.

ITEM 2.  IDENTITY AND BACKGROUND.

          This statement is filed jointly by (i) Labrador Partners 
L.P.("Labrador Partners"), with respect to shares of Common Stock beneficially 
owned by it, (ii) Farley Capital L.P.("Farley Capital"), with respect to 
shares of Common Stock held in discretionary accounts managed by it, and (iii) 
Stephen L. Farley ("Farley"), with respect to shares of Common Stock 
beneficially owned by Labrador Partners and Farley Capital.  The foregoing 
persons are hereinafter sometimes referred to as Reporting Persons.

                Labrador Partners L.P. is a Delaware limited partnership 
having its principal address at 655 Third Avenue, Suite 2520, New York, New 
York 10017.  The principal business of Labrador Partners L.P. is that of a 
private investment partnership, engaging in the purchase and sale of 
securities for investment for its own account.

                Farley Capital L.P. is a Delaware limited partnership having 
its principal address at 655 Third Avenue, Suite 2520, New York, New York 
10017.  The principal business of Farley Capital L.P. is that of a private 
investment firm, engaging in the purchase and sale of securities for 
investment on behalf of discretionary accounts.

                Stephen L. Farley is a U.S. citizen having his principal 
address at 655 Third Avenue, Suite 2520, New York, New York  10017.  The 
principal business activity of Mr. Farley is that of managing general partner 
of each of Labrador Partners, Farley Capital and Farley Associates L.P. 
("Associates").  The principal business of Associates is as general partner of 
Labrador Partners.  

          None of the persons referred to in this Item 2 has, during the last 
five years, (a) been convicted in a criminal proceeding (excluding traffic 
violations or similar misdemeanors) or (b) been a party to a civil proceeding 
of a judicial or administrative body of competent jurisdiction and as a result 
of such proceeding was or is subject to a judgment, decree or final order 
enjoining future violations of, or prohibiting or mandating activities subject 
to, Federal or state securities laws or finding any violation with respect to 
such laws.








                                  Page 5 of 13 pages
                                     <PAGE>


ITEM 3.  SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION.

          The aggregate number of shares of Common Stock purchased and the net 
investment cost of such Common Stock is as follows:

                           Aggregate Number
                             of Shares of
Reporting Person             Common Stock             Net Investment Cost

Labrador Partners L.P.          383,000                $8,291,077
Farley Capital L.P.              51,100                $1,109,712

          The Common Stock purchased by Labrador Partners was purchased with 
its working capital.  The Common Stock purchased by Farley Capital was 
purchased with the investment capital of each discretionary account under its 
management.  

          A portion of the Common Stock beneficially owned by Labrador 
Partners and Farley Capital may be held in margin accounts at Goldman, Sachs & 
Co. which may, from time to time, have debit balances.  Since other securities 
are held in such margin accounts, it is not possible to determine the amount 
of margin, if any, used with respect to the purchases of the Common Stock.  
Currently, the interest rate charged on such margin accounts is 6.75% per 
annum.

ITEM 4.  PURPOSE OF TRANSACTION.

           The purpose of the acquisition of the Common Stock by the Reporting 
Persons is for investment.  The Reporting Persons reserve the right to buy 
additional securities of the Issuer or sell securities of the Issuer from time 
to time.  The Reporting Persons have no present plans or proposals which 
relate to, or could result in, any of the actions enumerated in paragraphs (a) 
through (j) of Item 4 of the instructions to Schedule 13D.  Such entities and 
persons may, at any time and from time to time, review or reconsider their 
position with respect to the Issuer, and formulate plans or proposals with 
respect to any of such matters, but have no present intention of doing so.

ITEM 5.  INTEREST IN SECURITIES OF THE ISSUER.

           (a)  The following is the aggregate amount of Common Stock that is 
beneficially owned by each Reporting Person:

                             Aggregate Number
                               of Shares of               Percentage
Name                           Common Stock                of Class

Labrador Partners L.P.            383,000                      7.2%  
Farley Capital L.P.                51,100                      1.0%  


           Farley does not directly own any of the Common Stock.  Pursuant to 
Rule 13d-3 of the Securities Exchange Act of 1934, Farley may be deemed an 
indirect beneficial owner of 434,100 shares of Common Stock by virtue of his 
position as managing general partner of Labrador Partners (383,000 shares) and 
Farley Capital (51,100 shares).

          Associates does not beneficially own any Common Stock.

                                 Page 6 of 13 pages
                                     <PAGE>



     In the aggregate, the Reporting Persons beneficially own a total of   
434,100 shares of Common Stock, constituting approximately 8.2% of the 
outstanding shares of Common Stock of the Issuer.

           The approximate aggregate percentage of Class A shares of Common 
Stock reported beneficially owned by each person herein is based upon 
5,293,551 Class A shares outstanding, which is the total number of Class A 
shares of Common Stock outstanding as of August 31, 1997, as reflected in the 
Issuer's quarterly report on Form 10-Q filed with the Commission for the 
quarter ended August 31, 1997 (which is the most recent Form 10-Q on file).

           (b)   Each of Labrador Partners and Farley Capital have the power 
to vote and dispose of the shares of Common Stock beneficially owned by them, 
which power may be exercised exclusively by Farley.

           (c)   The trading dates, number of shares of Common Stock purchased 
or sold and price per share for all transactions in the Common Stock by 
Labrador Partners and Farley Capital from the 60th day prior to November 14, 
1997 and from November 14, 1997 through December 9, 1997 are set forth in 
Schedule A and Schedule B hereof.  All such transactions were open market 
transactions effected through the New York Stock Exchange.  During such period 
neither Farley nor Associates entered into any transactions in the Common 
Stock.

           (d)   Except as set forth above, no other person is known to have 
the right to receive or the power to direct the receipt of dividends from, or 
the proceeds from the sale of the Common Stock.

           (e)   Not applicable.

ITEM 6.  CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH 
         RESPECT TO SECURITIES OF THE ISSUER.

           None of the persons identified in Item 2 above is a party to any 
contract, arrangement, understanding or relationship with respect to any 
securities of the Issuer, except to the extent described in Item 2 and Item 5 
of this Statement.

ITEM 7.  ITEMS TO BE FILED AS EXHIBITS.

           1.  There is filed herewith as Exhibit 1 a written agreement 
relating to the filing of joint acquisition statements as required by Rule 
13d-1(f)(1) of the Act.










                                 Page 7 of 13 pages
                                     <PAGE>



                                 SIGNATURES

           After reasonable inquiry and to the best knowledge and belief of 
each of the Reporting Persons, each such person or entity certifies that the 
information set forth in this statement is true, complete and correct and 
agrees that this statement is filed on behalf of each of them.

Dated:  December 9, 1997
         -----------

                                   By:  /s/ Stephen L. Farley
                                        --------------------------------------
                                        Stephen L. Farley, individually and as
                                        managing general partner of each of
                                        Labrador Partners L.P. and Farley
                                        Capital L.P.








































                                 Page 8 of 13 Pages
                                     <PAGE>


                                   Schedule A
                                   ----------

                               Labrador Partners L.P.
                               -------------------

                           Transactions in the Common Stock
                           ---------------------------------



                                                    Price Per Share
          Date of           No. of Shares             (Excluding
        Transaction           Purchased               Commissions)
        -----------        ----------------         ---------------

         10/2/97              5,000                     $19.7500   
         10/2/97              2,500                      19.7500   
         10/3/97              4,000                      20.2500  
         10/3/97              4,000                      20.3750  
         10/3/97              6,000                      21.0000  
         10/3/97              4,000                      21.0000  
         10/6/97              3,000                      20.7500  
         10/6/97              5,500                      20.7500   
         10/6/97              5,000                      20.7500 
         10/7/97              6,000                      20.9375   
         10/7/97              3,000                      20.8750 
         10/7/97              3,000                      20.8750 
         10/7/97              5,000                      21.0000 
         10/7/97              2,000                      20.8750 
         10/7/97              2,000                      21.0000 
         10/8/97              2,000                      21.5000   
         10/8/97              2,000                      21.6250 
         10/8/97              4,000                      21.8750   
         10/8/97              3,000                      21.8750  
         10/8/97              1,000                      21.7500 
         10/8/97              5,000                      21.8750  
         10/8/97              3,000                      21.8750   
         10/9/97              3,000                      21.8750   
         10/9/97              7,000                      21.6610
         10/10/97             3,000                      22.0000
         10/13/97             3,000                      22.0000
         10/13/97             4,000                      22.0000
         10/13/97             4,000                      22.0000
         10/13/97             3,000                      22.0000
         10/13/97             4,000                      22.0000
         10/14/97             5,000                      22.1250
         10/15/97             5,000                      22.0000
         10/15/97             4,000                      22.0000
         10/15/97             1,500                      22.0000
         10/16/97            20,000                      22.1250
         10/16/97             5,000                      21.9375
         10/20/97             1,000                      21.8750
         10/22/97             4,000                      21.0000
         10/22/97             5,500                      20.6250
         10/22/97             6,000                      20.6250


                                 Page 9 of 13 Pages
                                     <PAGE>


                                   Schedule A
                                   ----------

                               Labrador Partners L.P.
                               -------------------

                           Transactions in the Common Stock
                           ---------------------------------



                                                    Price Per Share
          Date of           No. of Shares             (Excluding
        Transaction           Purchased               Commissions)
        -----------        ----------------         ---------------


         10/23/97              3,000                     $20.5000
         10/24/97              4,000                      20.3750
         10/24/97              3,000                      20.3750
         10/27/97              4,000                      20.2500
         10/27/97              1,000                      19.6250
         10/27/97              4,000                      19.7500
         10/27/97              5,000                      19.8750
         10/28/97              2,000                      17.5000
         10/28/97              1,000                      18.1250
         10/28/97              3,000                      19.2500
         10/28/97              4,000                      19.2500
         10/30/97              2,500                      19.6250
         11/5/97               1,900                      21.3355
         11/5/97               8,300                      21.5000
         11/5/97               7,000                      21.5000
         11/7/97               2,700                      21.3750
         11/12/97              5,600                      20.0560
         11/14/97              6,000                      19.9375
         11/14/97              2,000                      20.1250
         11/14/97              3,000                      20.0000
         11/17/97              2,000                      20.1250
         11/18/97              2,000                      19.9375
         11/18/97              2,000                      20.0625
         11/18/97              3,000                      20.2500
         11/18/97              5,000                      20.2500
         11/18/97              2,000                      20.2500
         11/19/97             10,800                      20.4213
         11/19/97                200                      20.1250
         11/19/97              3,000                      20.7500
         11/26/97              3,000                      20.7500
         11/26/97              3,000                      20.5000
         11/26/97              3,000                      20.7500
         12/1/97               4,000                      21.5000
         12/1/97               1,000                      21.6250
         12/2/97               6,000                      22.1250
         12/2/97               3,000                      22.3750
         12/2/97               3,000                      22.2500
         12/2/97               4,000                      22.3750
         12/3/97               6,000                      22.9979


                               Page 10 of 13 Pages
                                     <PAGE>


                                   Schedule A
                                   ----------

                               Labrador Partners L.P.
                               -------------------

                           Transactions in the Common Stock
                           ---------------------------------


                                                    Price Per Share
          Date of           No. of Shares             (Excluding
        Transaction           Purchased               Commissions)
        -----------        ----------------         ---------------


         12/3/97               3,000                     $23.0000
         12/3/97               3,000                      23.0000
         12/3/97               5,000                      23.0750
         12/3/97               3,000                      23.7500
         12/3/97               1,000                      23.8750
         12/3/97               3,000                      24.0000
         12/3/97               3,000                      24.2500
         12/3/97              55,000                      24.1534

































                                 Page 11 of 13 Pages
                                     <PAGE>


                                   Schedule B
                                   ----------

                               Farley Capital L.P.
                               -------------------

                           Transactions in the Common Stock


                                                    Price Per Share
          Date of           No. of Shares             (Excluding
        Transaction           Purchased               Commissions)
        -----------        ----------------         ---------------

         10/13/97              2,000                     $22.2500
         10/14/97              2,000                      22.1250
         10/15/97              2,000                      22.1250
         10/16/97              5,400                      22.1250
         10/17/97              3,000                      22.0000
         10/21/97              2,000                      22.0000
         10/21/97              1,000                      21.8750
         10/27/97              4,000                      20.2500
         10/29/97              2,000                      20.0000
         10/30/97              2,700                      19.6250
         11/5/97               1,000                      21.3750
         11/14/97              3,000                      20.1250
         11/19/97              4,000                      20.7500
         11/19/97              3,000                      20.5000
         11/21/97              1,600                      21.5000
         11/28/97              1,000                      21.3750
         12/1/97               2,000                      21.8750
         12/4/97               7,200                      24.0000
         12/4/97               1,300                      24.0000
         12/4/97                 900                      24.0000




















                                 Page 12 of 13 Pages
                                     <PAGE>


                                                                     EXHIBIT 1

                           JOINT ACQUISITION STATEMENT
                           PURSUANT TO RULE 13d-1(f)(1)
                           ----------------------------


          The undersigned acknowledges and agrees that the foregoing statement

on Schedule 13D is filed on behalf of the undersigned and that any

subsequent amendments to this statement on Schedule 13D, shall be filed on

behalf of the undersigned without the necessity of filing additional

joint acquisition statements.  The undersigned acknowledges that he shall be

responsible for the timely filing of such amendments, and for the completeness

and accuracy of the information concerning it contained therein, but shall not

be responsible for the completeness and accuracy of the information concerning

the others, except to the extent it knows or has reason to believe that such

information is inaccurate.

Dated:  December 9, 1997


                                   By:   /s/ Stephen L. Farley
                                        --------------------------------------
                                        Stephen L. Farley, individually and as
                                        managing general partner of each of
                                        Labrador Partners L.P. and Farley
                                        Capital L.P.




















                                 Page 13 of 13 Pages
                                     <PAGE>




</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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