SECURITIES AND EXCHANGE COMMISSION
                        WASHINGTON, D.C. 20549

                               Form 10-Q/A    

                X   QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d)
               ___      OF THE SECURITIES EXCHANGE ACT OF 1934

                  For the quarterly period ended September 30, 1995

              ___ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d)
                       OF THE SECURITIES EXCHANGE ACT OF 1934
                      For the transition period from ___ to ___

                         Commission file number 0-5556

                          CONSOLIDATED-TOMOKA LAND CO.

               (Exact name of registrant as specified in its charter)

            Florida                                     59-0483700
   (State or other jurisdiction of                   (I.R.S. Employer  
  incorporation or organization)                    Identification No.)

      149 South Ridgewood Avenue                            32114
        Daytona Beach, Florida                            (Zip Code)
(Address of principal executive offices)

                                 (904) 255-7558
            (Registrant's telephone number, including area code)

Indicate by check mark whether the registrant (1) has filed all reports
required to be filed by Section 13 or 15(d) of the Securities Exchange
Act of 1934 during the preceding 12 months and (2) has been
subject tosuch filing requirements for the past 90 days.

                    Yes   X               No      
                         ___                       ___  

Indicate the number of shares outstanding of each of the issuer's
classes of common stock, as of the latest practicable date.

                                                                  
    
                                                  Outstanding
    Class of Common Stock                      November 1, 1995
    _____________________                     _________________
                                               
      $1.00 par value                             6,261,272       

                                     1  

                CONSOLIDATED-TOMOKA LAND CO.

                            INDEX

                                                           Page No.
                                                           ________
                                                          
PART I - - FINANCIAL INFORMATION

Consolidated Condensed Balance Sheets -
       September 30, 1995 and December 31, 1994              3

Consolidated Condensed Statements of Income and
       Retained Earnings - Three Months and
Nine Months Ended September 30, 1995 and 1994                4

Consolidated Condensed Statements of Cash Flows - 
       Nine Months Ended September 30, 1995 and 1994         5

Notes to Consolidated Condensed Financial Statements         6-8

Management's Discussion and Analysis of Financial
Condition and Results of Operations                          9-11

PART II -- OTHER INFORMATION                                 12

SIGNATURES                                                   13 

                                     2

                           PART I -- FINANCIAL INFORMATION

                             CONSOLIDATED-TOMOKA LAND CO.
                       CONSOLIDATED CONDENSED BALANCE SHEETS

                                                    (Unaudited)   
                                                   September 30,  December 31,
                                                         1995       1994    
                                                   ------------   ------------

ASSETS
Cash                                                $ 1,048,566   $   503,545
Investment Securities                                 4,001,926     1,290,955
Notes Receivable                                     10,128,491     9,222,968
Accounts Receivable                                   1,541,412     1,877,220
Inventories                                             861,298       660,461
Cost of Fruit on Trees                                2,893,892     2,435,401
Real Estate Held for Development and Sale            13,966,395    16,626,505
Net Investment in Direct Financing Lease                814,820       880,222
Refundable Income Taxes                                 760,186            --
Other Assets                                            291,133       375,486
Net - Property, Plant, and Equipment                 26,547,835    27,662,652
                                                     ----------    ----------

     TOTAL ASSETS                                   $62,855,954   $61,535,415
                                                     ==========    ==========

LIABILITIES
Customer Deposits                                   $    66,431   $   924,268
Accounts Payable                                      1,630,216       749,277
Notes Payable                                        29,767,805    24,973,283
Accrued Liabilities                                   2,958,920     2,134,670
Deferred Income Taxes                                    95,504        95,504
Income Taxes Payable                                         --     1,481,531
                                                     ----------    ----------

     TOTAL LIABILITIES                               34,518,876    30,358,533
                                                     ----------    ----------

MINORITY INTEREST                                       117,889       146,790 
                                                     ----------    ----------
SHAREHOLDERS' EQUITY
Common Stock                                          6,261,272     6,261,272
Additional Paid-in Capital                            1,782,105     1,782,105
Retained Earnings                                    20,175,812    22,986,715
                                                     ----------    ----------  

     TOTAL SHAREHOLDERS' EQUITY                      28,219,189    31,030,092
                                                     ----------    ----------

     TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY     $62,855,954   $61,535,415
                                                     ==========    ==========

See Accompanying Notes to Consolidated Condensed Financial
Statements.

                                     3

                                 CONSOLIDATED-TOMOKA LAND CO.
             CONSOLIDATED CONDENSED STATEMENTS OF INCOME AND RETAINED EARNINGS

                          
(Unaudited)
                                        Three Months Ended          Nine Months Ended     
                                       --------------------------  --------------------------
                                       September 30, September 30,  September 30, September 30,
                                           1995           1994        1995           1994      
                                       --------------------------  ------------  ------------- 

INCOME:
  Citrus Operations:
    Sales of Fruit and Other Income    $    21,118  $    30,297  $ 5,794,311  $ 6,223,041 
    Production and Selling Expenses    (   448,902) (   468,504) ( 5,741,660) ( 6,057,006)
                                        ----------   ----------   ----------   ---------- 
                                       (   427,784) (   438,207)      52,651      166,035 
                                        ----------   ----------   ----------   ----------   
  Real Estate Operations:
    Sales and Other Income               1,380,354    1,834,771    3,938,205    8,123,751      
    Costs and Other Expenses           ( 1,157,023) ( 1,248,689) ( 3,285,894) ( 4,076,880)
                                        ----------   ----------   ----------   ---------- 
                                           223,331      586,082      652,311    4,046,871  
                                        ----------   ----------   ----------   ----------
  Profit On Sales of Undeveloped
    Real Estate Interests                      500      593,034    1,485,939      980,025 
                                        ----------   ----------   ----------   ---------- 
  Interest and Other Income                180,549  (   135,121)     460,535  (    43,162)
                                        ----------   ----------   ----------   ----------
OPERATING INCOME (LOSS)                (    23,404)     605,788    2,651,436    5,149,769 
GENERAL AND ADMINISTRATIVE EXPENSES    (   831,084) ( 1,013,927) ( 2,711,611) ( 3,022,085)
                                        ----------   ----------   ----------   ---------- 
INCOME (LOSS) BEFORE MINORITY INTEREST 
  IN PARTNERSHIP                       (   854,488) (   408,139) (    60,175)   2,127,684 
MINORITY INTEREST                           11,554       10,252       28,902       30,197 
                                        ----------   ----------   ----------   ---------- 
INCOME (LOSS) FROM CONTINUING OPERATIONS
  BEFORE INCOME TAXES                  (   842,934) (   397,887) (    31,273)   2,157,881 
INCOME TAXES                               333,672      138,532       37,942  (   721,862)
                                        ----------   ----------   ----------   ----------
INCOME (LOSS)FROM CONTINUING
 OPERATIONS                            (   509,262) (   259,355)       6,669    1,436,019 
LOSS FROM DISCONTINUED
  RESORT OPERATIONS (net of tax)                --  (   228,999)          --  (   134,302)
                                        ----------   ----------   ----------   ----------
NET INCOME (LOSS)                      (   509,262) (   488,354)       6,669    1,301,717 
RETAINED EARNINGS, Beginning of Period  22,250,392   19,674,250   22,986,715   18,823,370 
DIVIDENDS                              ( 1,565,318) ( 1,252,254) ( 2,817,572) ( 2,191,445)
                                        ----------   ----------   ----------   ----------
RETAINED EARNINGS, End of Period       $20,175,812  $17,933,642  $20,175,812  $17,933,642
                                        ==========   ==========   ==========   ========== 
PER SHARE INFORMATION:
  Average Shares Outstanding             6,261,272    6,261,272    6,261,272    6,261,272
                                        ==========   ==========   ==========   ==========
  Income (Loss)From Continuing 
   Operations                                $(.08)       $(.04)          --        $ .23
  Loss From Discontinued Resort
    Operations (net of tax)                     --        $(.04)          --        $(.02)
                                        ----------   ----------   ----------   ----------
  Net Income (Loss) Per Share                $(.08)       $(.08)          --        $ .21 
                                        ==========   ==========   ==========   ==========
  DIVIDENDS PER SHARE                        $ .25        $ .20       $  .45         $.35
                                        ==========   ==========   ==========   ========== 

See Accompanying Notes to Consolidated Condensed Financial
Statements.

                                     4

                                   CONSOLIDATED-TOMOKA LAND CO.
                          CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS

                                                         

(Unaudited)                       
                                                          Nine Months Ended     
                                                  ----------------------------
                                                   September 30, September 30,
                                                        1995          1994      
                                                   ------------- -------------

CASH FLOW FROM OPERATING ACTIVITIES:
CASH RECEIVED FROM:
  Citrus Sales and Other Income                      $ 6,006,455    $ 6,735,006 
  Real Estate Sales and Other Income                   6,797,296      8,266,005 
  Sales of Undeveloped Real Estate                     1,485,939        980,025 
  Interest and Other Income                              453,571        155,014 
                                                      ----------     ---------- 
   Total                                              14,743,261     16,136,050 
                                                      ----------     ----------
CASH EXPENDED FOR:
  Citrus Production and Selling Expenses               6,359,068      5,870,901 
  Real Estate Costs and Expenses                       2,732,137      2,844,426 
  General and Administrative Expenses                  1,039,480      1,491,960 
  Interest                                             1,432,010      1,669,041 
  Income Taxes                                         2,203,775      1,300,000 
                                                      ----------     ----------
       Total                                          13,766,470     13,176,328 
                                                      ----------     ----------
     Net Cash Provided by Operating Activities           976,791      2,959,722  
                                                      ----------     ----------
 
CASH FLOW FROM INVESTING ACTIVITIES:
  Acquisition of Property, Plant, and Equipment      (   997,711)   ( 1,225,634)
  Investments in Investment Securities               ( 2,710,971)   (    25,888)
  Direct Financing Lease                                  65,402         56,035 
  Proceeds from Sale of Property, Plant,
     and Equipment                                     1,234,560         15,883  
  Cash Flow from Discontinued Resort Operations               --      6,590,626 
                                                      ----------     ----------  
     Net Cash Provided by (Used in) Investing
       Activities                                    ( 2,408,720)     5,411,022 
                                                      ----------     ---------- 
CASH FLOW FROM FINANCING ACTIVITIES:
  Cash Proceeds from Debt                              6,750,000      2,800,000 
  Payments of Debt                                   ( 1,955,478)   (10,944,656)
  Dividends Paid                                     ( 2,817,572)   ( 2,191,445)
                                                      ----------     ----------
     Net Cash Provided by (Used in) Financing 
       Activities                                      1,976,950    (10,336,101)
                                                      ----------     ----------

NET INCREASE (DECREASE) IN CASH                          545,021    ( 1,965,357)
CASH, BEGINNING OF YEAR                                  503,545      2,155,712 
                                                      ----------     ----------
CASH,END OF PERIOD                                   $ 1,048,566    $   190,355    
                                                      ==========     ==========

See Accompanying Notes to Consolidated Condensed Financial
Statements.

                                     5

          NOTES TO CONSOLIDATED CONDENSED FINANCIAL STATEMENTS

1.  Principles of Interim Statements.  The information presented in the
    unaudited consolidated condensed financial statements reflects all
    adjustments which are, in the opinion of the management, necessary to
    present fairly the Company's financial position and the results of
    operations for the interim periods.  The consolidated condensed format
    is designed to be read in conjunction with the last annual report.  

    The consolidated condensed financial statements include the accounts of
    the Company and its wholly owned subsidiaries.  Intercompany balances
    and transactions have been eliminated in consolidation.

2.  Seasonal Operations.  The Company's citrus operations involve a single
    crop agricultural commodity and are seasonal in nature.  To a lesser
    extent, its forestry activities are seasonal in nature. Accordingly,
    results for the nine months ended September 30, 1995 and 1994 are not
    necessarily indicative of results to be expected for the full year. 
    Results of operations for the twelve months ended September 30, 1995
    and 1994 are summarized as follows (in thousands): 

                                          Twelve Months Ended September 30,
                                -------------------------------------------------
                                        1995                     1994             
                                 ---------------------   ------------------------
                                 Revenues  Income(Loss)  Revenues    Income(Loss)
                                 --------- -----------   --------    ------------
                                                          
Citrus Operations                $ 7,746      $(   27)    $ 8,792      $  1,194 
Real Estate Operations            12,343        6,243       8,742         6,727 
General Corporate & Other          5,033        1,864       1,278        (2,337)
                                  ------        -----      ------         -----
     Total Revenues              $25,122                  $18,812              
                                  ======                   ======

Income Before Income Taxes                      8,080                     5,584 
Income Taxes                                   (3,019)                   (1,987)
                                                -----                     -----
Income from Continuing Operations               5,061                     3,597

Loss From Discontinued Resort
Operations (net of income taxes)               (    1)                   (  506)
                                                -----                     ----- 
  Net Income                                   $5,060                    $3,091 
                                                =====                     =====

3.  Common Stock and Earnings Per Common Share.   Primary earnings per
    share are based on the average number of common shares and common share 
    equivalents outstanding during the period.  Primary and fully diluted   
    earnings per share are the same for the periods.

4.  Notes Payable.  Notes payable consist of the following:

                                                     September 30, 1995           
                                             -----------------------------------
                                                                     Due Within
                                              Total                   One Year    
                                            ----------               -----------
                                                               
Consolidated-Tomoka Land Co.
- ----------------------------

$15,000,000 Line of Credit                 $ 8,550,000               $ 8,550,000
 Mortgages Payable                           9,703,404                   163,468
 Industrial Revenue Bonds                    3,213,697                   261,870
                                            ----------                 ---------
                                            21,467,101                 8,975,338
                                            ----------                ---------- 
Indigo Group Ltd.
- -----------------
Industrial Revenue Bonds                     2,006,500                    56,400
Mortgages Payable                            6,294,204                    95,029
                                            ----------                ---------- 
                                             8,300,704                   151,429
                                            ----------                ----------

Total                                      $29,767,805               $ 9,126,767
                                            ==========                ==========

     Indigo Group Ltd. ("IG LTD.") is a 100% owned limited partnership in
     the real estate business.  Included in notes payable is a $2,577,262   
     mortgage note collateralized by developed real estate in a joint
     venture project. IG Ltd.'s 50% partner is jointly liable on the note.

                                     6

     Payments applicable to reduction of principal amounts will be required
     as follows:

                               Consolidated-      Indigo
                                 Tomoka           Group
      Year Ending Sept. 30,     Land Co.          Ltd.           Total          
      ---------------------    -------------    ----------    ----------
                                                     
      1996                      $ 8,975,338    $   151,429    $9,126,767 
      1997                          543,615        159,556       703,171   
      1998                          590,603        168,387       758,990
      1999                          641,662      2,611,014     3,252,676
      2000                          697,146        142,804       839,950
      Thereafter                 10,018,737      5,067,514    15,086,251
                                 ----------      ---------    ---------- 
                                $21,467,101    $ 8,300,704   $29,767,805
                                 ==========      =========    ==========

     In the first nine months of 1995 interest totaled $1,646,632 of
     which $97,976 was capitalized to land held for development and sale.
     Total interest for the nine months ended September 30, 1994 was
     $1,669,041, all of which was expensed during the period. 

5.   Discontinued Operations.  On July 14, 1994, the Company sold its
     resort complex for a price of $7,175,000.  The sales price of the
     transaction approximated book value of the assets.  Summary 
     financial information follows:

                                                Three Months Ended     Nine Months Ended
                                               ------------------     -----------------  
                                               Sept. 30,   Sept.30,   Sept. 30,  Sept. 30,
                                                 1995        1994       1995       1994  
                                               ---------  --------    --------   --------   
                                                                     
    Revenues from Discontinued 
       Resort Operations                         --         289,918      --      5,596,948
    Income Tax Credits  for Discontinued 
       Resort Operations                         --        (138,161)     --     (   81,029)
    Earnings (Loss) Per Share from
      Discontinued Resort Operations 
      (net of income taxes)                      --           ($.04)     --          ($.02)

                                     7

MANAGEMENT'S DISCUSSION AND ANALYSIS

     The Management's Discussion and Analysis is designed to be read in
conjunction with the financial statements and Management's Discussion and
Analysis in the last annual report.

RESULTS OF OPERATIONS

Citrus Operations

     As is typical for the third quarter, with harvesting of fruit
completed by late spring, a loss was posted from citrus operations.  The
loss of $427,784 reported for 1995's third period represents a 2%
improvement over 1994's same period results with negligible revenues
recorded for both periods.

     Nine month year-to-date profits from citrus operations totaled
$52,651, representing a modest downturn from the $166,035 of profits
generated in 1994's first nine months.  The unfavorable results can be
attributed to a 7% fall in revenues.  Revenues of $5,794,311 were produced
for the period on the sale of 696,057 boxes of fruit at an average sale
price of $8.25 per box.  These figures compare to the 718,342 boxes of
fruit harvested and sold in 1994's nine month period at an average price of
$8.49 per box which  generated revenues of $6,223,041.  Both the number of
boxes harvested and sold and the average sales price for 1995 represent a
3% decline from 1994 levels.  Production and selling expenses, coinciding
with the lower fruit production, decreased 5% year-to-date to $5,741,660.

Real Estate Operations

     Real estate operating profits for the third quarter and nine months of
1995 were $223,331 and $652,311 respectively, represent a significant
downturn from year earlier results.  The 25% and 52% fall in revenues for
the quarter and year-to-date can be directly traced to unfavorable
commercial real estate closing activity.  During the first nine months of
1995 closings occurred on 32 commercial acres, of which one acre closed in
the third quarter.  These closings produced revenues of $850,000 year-to-
date including $307,000 during the third quarter.  This commercial closing
activity compares to 1994 nine month closing level of 86 acres generating
revenue of $4,860,000, of which $850,000 was posted in the third period on
the sale of 53 acres.

     Increased harvesting, along with higher pricing, produced profit gains
from forestry operations of $116,000 for the quarter and $408,000 for the
nine month period when compared to the prior year.

     Income properties recorded modest profits for both the three month and
nine month periods of 1995 compared to modest losses generated in 1994. 
These improvements are primarily due to overall higher occupancy levels. 
Both revenues and expenses from income properties were down slightly for
the third quarter of 1995 due to the May sale of the 18,000 square foot
Mariner Towne Square shopping center located in Spring Hill, Florida.  The 
earnings impact of the sale was immaterial.

General Corporate and Other

     Profits on sales of undeveloped real estate interests fell sharply in
the third quarter, as negligible income was recognized in 1995 compared to
income of $593,034 generated primarily on the sale of mineral rights in 1994.
Year-to-date the sale of 389 acres in Highlands County produced income of
$1,485,939.  This compares favorably to the $980,025 generated in 1994's
nine month period on the sale of 97 acres in addition to the sale of
mineral rights.  Interest and other income of $180,549 and $460,535 for the
quarter and nine months respectively, show substantial improvement over
1994's third quarter and nine month losses of $135,121 and $43,162,
respectively.  The losses posted in 1994 were due to a $193,000 write-off
of leasehold improvements.  Favorable interest and other income results
were also due to increased interest income generated on mortgage notes
receivable from year end 1994 closings.  Reductions in general and
administrative expenses of 18% and 10% for the three months and year-to-
date 1995 were achieved on lower salary benefit and professional fee costs. 
 
                                     8

FINANCIAL POSITION

     The seasonal nature of citrus operations, along with slow commercial
real estate closing activity, resulted in a loss of $509,262, equivalent to
$.08 per share in 1995's third quarter.  This loss is in line with prior
year's third period loss of $.08 per share or $488,354.  Year-to-date slightly
over breakeven results at September 30, 1995 compare unfavorably to the
$1,301,717 profit, equivalent to $.21 per share, recorded in 1994's nine
month period.  The downturn in 1995 again can be attributed to the low
commercial real estate closing volume. 
     Cash flow for the first nine months of 1995 totalled $545,021, with
$976,791 generated from operating activities, $2,408,720 used in investing
activities and $1,976,950 provided by financing activities.  Cash outflow
from investing activities included a $2,710,971 increase in investment
securities and $997,711 spent on acquisition of property, plant and
equipment, offset by $1,234,560 of proceeds on the sale of property, plant
and equipment.  Acquisition of property, plant and equipment included
$420,000 spent on the expansion of the Winn Dixie supermarket at the
Mariner Village shopping center, $230,000 spent on equipment and improvements
at the citrus packing house and an additional $230,000 on the citrus groves.
The sale of the 18,000 square foot Mariner Towne Square shopping center in
Spring Hill, Florida generated the majority of the proceeds from the sale of
property, plant and equipment.  Funds provided by financing activities
included $4,795,000 of additional debt offset by dividends paid of $2,817,572.
Dividends declared and paid to date are equivalent to $.45 per share, a 29%
increase over the $.35 per share paid one year earlier.  Capital additions
scheduled for the fourth quarter are relatively small, at approximately
$200,000, and will be centered around the Ladies Professional Golf Association
(LPGA) mixed-use development. Operations, and if necessary available financing
sources, will be the source of funds for the capital expenditures.

     Although citrus operating profits have been somewhat depressed for the
last two years, the near term future looks positive.  Company groves are in
excellent condition and new growth on trees of all ages is abundant.  Early
indications of the 1995-1996 company citrus crop point to the return to
production levels in excess of 1.2 million boxes, which were last achieved
in the 1992-1993 season.  This estimate compares to the approximate level
of 900,000 to 950,000 boxes harvested the last two seasons.  The initial
USDA Florida orange crop estimate for the 1995-1996 crop year totaled 202
million boxes.  This estimate represents an approximate 3.4 million box
drop from the 1994-1995 harvest.  The estimated decrease in fruit, coupled
with strong demand and relatively low juice inventories on hand, could lead
to stronger prices in the future.

     Although progress continues, the extremely wet and rainy weather
conditions experienced during the summer and early fall have caused some
delays in development at the LPGA mixed-use development.   Completion of
the I-95 interchange at LPGA Boulevard has been delayed due to the weather
and is scheduled for year end.   Several residential models are under
construction in the development, but again are behind schedule due to the
weather.  The permitting of the second golf course is on schedule and is
expected to be complete by the first part of 1996, at which time construction
will begin.  The design phase of the clubhouse and resort facilities is
underway with construction expected to commence the first half of 1996.
Buoyed by the development efforts, sales interest remain very strong on
company-owned property in and around the LPGA development. Contract backlog
for closing in 1995 is in excess of $8.3 million, with additional properties
under contract or under negotiation for closing in 1996 through 1998.  A
significant amount of work is still ahead to close these contracts, but the
conversion of these contracts to closings, coupled with the improved
prospects from citrus operations, provide a path to a profitable 1995 and
near term future. 

                                     9

                  PART II -- OTHER INFORMATION

Item 1.     Legal Proceedings
     There are no material pending legal proceedings to which the Company
     or its subsidiaries is a party.

Items 2 through 5.
     Not Applicable

Item 6.    Exhibits and Reports on Form 8-K

           (a)  Exhibits:
 
          Exhibit 11 - Computation of Earnings Per Common Share

          Exhibit 27 - Financial Data Schedule (for SEC use only)

           (b)  Reports on Form 8-K
                None     

                                     10

                                 SIGNATURES

     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.

                                             CONSOLIDATED-TOMOKA LAND CO.
                                                    (Registrant)

Date:  January  05, 1996                     By: /s/  Bob D. Allen
                                                ---------------------- 
                                                Bob D. Allen, President and
                                                Chief Executive Officer     

Date:  January  05, 1996                     By: /s/  Bruce W. Teeters
                                                -------------------------   
                                                Bruce W. Teeters,Sr. Vice
                                                President
                                                Finance and Treasurer       

                                     11                              

                                  EXHIBIT INDEX

                                                          Page No.
                                                          --------
                                                       
No. 11      Computation of Earnings Per Common Share         15
No. 27      Financial Data Schedule (for SEC use only)       16

                                     14

                                    EXHIBIT 11

                           CONSOLIDATED-TOMOKA LAND CO. ANDSUBSIDIARIES
                               COMPUTATION OF EARNINGS PER COMMONSHARE

                                     For the Three Months Ended  For the Six Months Ended
                                     --------------------------  ------------------------
                                      Sept. 30,     Sept. 30,   Sept. 30,     Sept.30,
                                       1995            1994       1995          1994
                                     ---------      ---------  ----------    ----------
                                                                  
PRIMARY EARNINGS (IN THOUSANDS)
INCOME (LOSS) FROM CONTINUED
   OPERATIONS                        (509,262)      (259,355)       6,669     1,436,019
LOSS FROM DISCONT. RESORT OPERATIONS
 (NET OF TAX)                              --       (228,999)          --      (134,302)
                                    ---------      ---------    ---------     ---------
  NET INCOME (LOSS)APPLICABLE TO
   COMMON STOCK                      (509,262)      (488,354)       6,669     1,301,717
                                    =========      =========    =========     =========

PRIMARY SHARES USED IN COMPUTATION
  WEIGHTED AVERAGE NUMBER OF COMMON
  SHARES OUTSTANDING                6,261,272      6,261,272    6,261,272     6,261,272

SHARES APPLICABLE TO STOCK OPTIONS
  USING THE TREASURY STOCK METHOD
  AT AVERAGE MARKET PRICE FOR
  THE PERIOD                           47,837         30,776       28,594        31,115
                                    ---------      ---------    ---------     ---------
TOTAL PRIMARY SHARES                6,309,109      6,292,048    6,289,866     6,292,387
                                    =========      =========    =========     ========= 
PRIMARY EARNINGS PER COMMON
 SHARE:

 INCOME (LOSS) FROM CONTINUING
  OPERATIONS                           ($0.08)        ($0.04)       $0.00         $0.23
  LOSS FROM DISCONT. RESORT
   OPERATIONS (NET OF TAX)                 --         ($0.04)          --        ($0.02)
                                    ---------      ---------    ---------     ---------
NET INCOME (LOSS) APPLICABLE
 TO COMMON STOCK                       $(0.08)        ($0.08)       $0.00         $0.21
                                    =========     ==========    =========     =========
FULLY DILUTED SHARES USED IN
 COMPUTATION 
  TOTAL PRIMARY SHARES              6,309,109       6,292,048   6,289,866     6,292,387

   SHARES APPLICABLE TO STOCK
    OPTIONS IN ADDITION TO THOSE
    USED IN PRIMARY COMPUTATION
    DUE TO USE OF THE HIGHER OF
    AVERAGE MARKET PRICE OR PERIOD
    END MARKET PRICE                   17,602              --       6,365            --
                                    ---------       ---------   ---------     ---------
                                    6,326,711       6,292,048   6,296,231     6,292,387
                                    =========       =========   =========     =========
FULLY DILUTED EARNINGS PER SHARE:

  INCOME (LOSS) FROM CONTINUTING 
   OPERATIONS                          ($0.08)         ($0.04)      $0.00         $0.23)
  LOSS FROM DISCONT. RESORT
   OPERATIONS (NET OF TAX)                 --          ($0.04)         --        ($0.02)
                                    ---------       ---------   ---------     ---------
  NET INCOME (LOSS) APPLICABLE TO
   COMMON STOCK                        ($0.08)         ($0.08)      $0.00         $0.21
                                    =========       =========   =========     =========

                                     15

 5

THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM
CONSOLIDATED-TOMOKA LAND COMPANY'S 1995 THIRD QUARTER 10-Q AND IS
QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.

                             
                   9-MOS
                          DEC-31-1995
                             JAN-01-1995
                               SEP-30-1995
                                       1,048,566
                                 4,001,926
                               11,669,903
                                         0
                                 17,721,585
                                     0
                                      39,263,167
                              12,715,332
                              62,855,954
                                0
                                              0
                                     6,261,272
                                0
                                          0
                                  21,957,917
                62,855,954
                                     11,218,455
                            11,678,990
                                        6,215,799
                                9,027,554
                             1,721,013
                                     0
                             961,696
                               (31,273)
                                  (37,942)
                              6,669
                                       0
                                      0
                                            0
                                     6,669
                                        0
                                        0