FORM 10-Q

                SECURITIES AND EXCHANGE COMMISSION

                      WASHINGTON, D.C. 20549

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

For Quarter Ended June 30, 1995

Commission file number   1-8966

                              SJW Corp.
      (Exact name of registrant as specified in its charter)

       California                            77-0066628
(State or other jurisdiction of          (I.R.S. Employer
   incorporation or organization)       Identification No.)

      374 West Santa Clara Street, San Jose, CA 95196
          (Address of principal executive offices)
                         (Zip Code)

                         408-279-7810
       (Registrant's telephone number, including area code)

                        Not Applicable
   (Former name, former address and former fiscal year changed
                      since last report)

     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 (or for such shorter period that the registrant was
required to file such reports), and (2) has been subject to
such filing requirements for the past 90 days.

Yes  x   No

                APPLICABLE ONLY TO CORPORATE ISSUERS:

Common shares outstanding as of April 1, 1995 and as of the
          date of this report are 3,250,746.

                      PART 1.  FINANCIAL INFORMATION

Item 1.  FINANCIAL STATEMENTS
         --------------------

                        SJW CORP. AND SUBSIDIARIES
                CONDENSED CONSOLIDATED STATEMENT OF INCOME
                                (UNAUDITED)
                 (In thousands, except per share amounts)

                            THREE MONTHS ENDED         SIX MONTHS ENDED
                                   JUNE 30                  JUNE 30
                               1995     1994            1995     1994
                            ------------------         -----------------

Operating revenue        $    23,780    26,715         42,019    45,706

Operating expense:
  Operation:
    Purchased water            5,936     5,251          9,239     8,740
    Power                        934     1,395          1,531     2,152
    Pump taxes                 2,666     4,518          4,728     7,312
    Other                      4,086     5,238          9,395    10,879
  Maintenance                  1,553     1,539          3,254     2,893
  Property and other
    nonincome taxes              624       703          1,452     1,419
  Depreciation                 1,894     1,755          3,817     3,580
  Income taxes                 2,127     2,230          2,729     2,859
                              ----------------         ----------------
                              19,820    22,629         36,145    39,834
                              ----------------         ----------------
  Operating income             3,960     4,086          5,874     5,872

Other income                     223       147            259       294
Dividend income                  187       272            561       544
Interest and other charges    (1,376)   (1,368)        (2,855)   (2,749)
                              ----------------         ----------------
  Net income             $     2,994     3,137          3,839     3,961
                              ================         ================
Earnings per share of
  common stock           $      0.92      0.97           1.18      1.22
                              ================         ================
Dividends per share
  of common stock        $      0.54     0.525           1.08      1.05
                              ================         ================
Weighted average
outstanding common shares  3,250,746 3,236,992      3,250,746 3,236,992
                           ===================      ===================

                        SJW CORP. AND SUBSIDIARIES
                   CONDENSED CONSOLIDATED BALANCE SHEET
                                (UNAUDITED)
                              (In thousands)
                                             JUNE 30    DECEMBER 31
                                                1995        1994
                         ASSETS              ----------------------
Utility plant                           $    314,751        308,515
Less accumulated depreciation                 98,250         95,083
                                             ----------------------
     Net utility plant                       216,501        213,432
Nonutility property                            6,442          7,178
Current assets:
  Cash and equivalents                         1,626          1,277
  Accounts receivable and accrued revenue     10,259          8,540
  Prepaid expenses and other                   1,490          3,689
                                             ----------------------
                                              13,375         13,506
Other assets:
  Investment in California Water Service Co.  17,324         17,599
  Debt issuance and reacquisition costs        4,188          4,262
  Regulatory asset                             3,645          3,672
  Goodwill                                     2,299          2,341
  Other                                          537            540
                                             ----------------------
  Total other assets                          27,993         28,414
                                             ----------------------
                                        $    264,311        262,530
                                             ======================
                      CAPITALIZATION AND LIABILITIES
Capitalization:
  Common stock                          $     10,159         10,159
  Additional paid-in capital                  22,208         22,208
  Retained earnings                           72,383         72,056
  Unrealized loss on investment                 (487)          (325)
                                             ----------------------
    Total common shareholders' equity        104,263        104,098
Long-term debt, less current maturities       62,500         62,500
                                             ----------------------
    Total capitalization                     166,763        166,598
Current liabilities:
  Current maturities of long-term debt         1,500          1,500
  Line of credit                               1,800          4,800
  Accounts payable                               865            967
  Accrued interest                             2,163          2,173
  Accrued pump taxes and purchased water       3,440          3,203
  Income taxes payable                         2,251              0
  Postretirement benefits                      1,257            507
Other current liabilities                      2,287          2,092
                                             ----------------------
    Total current liabilities                 15,563         15,242
Deferred income taxes and tax credits         15,371         15,278
Other noncurrent liabilities                   2,214          2,605
Advances for and contributions in aid
  of construction                             64,400         62,807
                                             ----------------------
                                        $    264,311        262,530
                                             ======================
  
                      SJW CORP. AND SUBSIDIARIES
                   CONSOLIDATED STATEMENT OF CASH FLOWS
                                (UNAUDITED)
                              (In thousands)
                                                  SIX MONTHS ENDED
                                                      JUNE 30
                                                     1995     1994
Operating activities:                             ----------------
  Net income                                        3,839    3,961
  Adjustments to reconcile net income to net
  cash provided by operating activities:
    Depreciation                                    3,817    3,723
    Deferred income taxes and credits                 184       31
    Changes in operating assets and liabilities:
      Accounts receivable and accrued revenue      (1,719)  (3,489)
      Prepaid expenses and other                    2,199      852
      Accounts payable and other
        current liabilities                            93      995
      Accrued pump taxes and purchased water          237      604
      Income taxes payable                          2,251    2,908
      Accrued interest                                (10)     738
      Other changes, net                             (577)  (1,466)
                                                  ----------------
Net cash provided by operating activities          10,314    8,857
                                                  ----------------
Investing activities:
  Additions to utility plant                       (7,088)  (8,231)
  Additions to nonutility property                    (80)    (488)
  Cost to retire utility plant                       (249)    (222)
  Temporary investments                                 0      195
  Net cash proceeds from sale of machine shop       1,954        0
                                                  ----------------
Net cash used in investing activities              (5,463)  (8,746)
                                                  ----------------
Financing activities:
  Dividends paid                                   (3,511)  (3,413)
  Line of credit                                   (3,000)       0
  Advances and contributions in aid of
    construction                                    2,608    2,858
  Refunds of advances                                (599)    (631)
                                                  ----------------
Net cash used in financing activities              (4,502)  (1,186)
                                                  ----------------
Net change in cash and equivalents                    349   (1,075)
                                                  ----------------
Cash and equivalents, beginning of period           1,277    2,363
                                                  ----------------
Cash and equivalents, end of period          $      1,626    1,288
                                                  ================
Supplemental disclosures of cash flow information:
  Cash paid (credited) during period for:
    Interest                                 $      2,712    1,878
    Income taxes                             $     (1,057)       0

                   SJW CORP. AND SUBSIDIARIES
      Notes to Condensed Consolidated Financial Statements
                         June 30, 1995
                                
     NOTE I - General
       
       In the opinion of SJW Corp., the accompanying
       unaudited condensed consolidated financial
       statements contain all adjustments, consisting only
       of normal recurring adjustments, necessary for the
       fair presentation of the results for the interim
       periods.
       
       The Notes to Consolidated Financial Statements
       incorporated by reference in SJW Corp.'s 1994 Annual
       Report on Form 10-K should be read with the accompanying
       condensed consolidated financial statements.

Item 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL
        CONDITION AND RESULTS OF OPERATIONS

        Liquidity and Capital Resources:
        
        San Jose Water Company plans to issue $15,000,000 of
        unsecured 30-year senior notes through private placement
        in the third quarter of 1995. Proceeds from the sale of
        the unsecured notes will be used to repay short-term
        borrowings, redeem at maturity, Series N 4.85% first
        mortgage bonds in the amount of $1,500,000 plus accrued
        interest and fund construction expenditures through the
        remainder of 1995 and first half of 1996.
        
        San Jose Water Company has a commercial bank line of
        credit that provides for unsecured borrowings of up to
        $20,000,000 at rates which approximate the bank's prime
        or reference rate.  At June 30, 1995, San Jose Water
        Company had available an unused short-term bank line of
        credit of $18,200,000.
        
        San Jose Water Company's capital expenditures are
        incurred in connection with normal upgrading and
        expansion of existing facilities and to comply with
        environmental regulations.  Capital expenditures for the
        next five years are likely to increase from historical
        levels due to the addition of new, or expansion of
        existing, water treatment and source of supply facilities
        and to comply with environmental regulations.  Net
        capital expenditures for 1995 are estimated at
        $15,907,000.  For the five year period from 1995 to 1999,
        San Jose Water Company's net capital expenditures are
        estimated to aggregate $80,000,000.  Net capital
        expenditures represent gross capital expenditures less
        advances and contributions in aid of construction.

        General:
        
        SJW Corp. is a holding company created in 1985 through an
        agreement of merger with San Jose Water Company.  SJW
        Corp. has operational and financial flexibility and can
        engage in nonutility activities.
        
        San Jose Water Company is a public utility in the
        business of providing water service to approximately
        921,000 people in the metropolitan San Jose area.
        
        SJW Land Company, a wholly-owned subsidiary, was formed
        in 1985 for the purpose of real estate development.  It
        operates parking facilities located adjacent to the
        Company's headquarters and the San Jose Arena.
        
        Western Precision, Inc., a wholly-owned subsidiary
        acquired in 1992, sold its precision mechanical parts
        manufacturing facility in March 1995. Western Precision,
        Inc. was subsequently renamed W P Shell Corporation.  On
        June 5, 1995, W P Shell Corporation was liquidated and
        merged into SJW Corp. with SJW Corp. succeeding to all
        rights, assets and liabilities of W P Shell Corporation
        including 549,976 shares of California Water Service
        Company.
        
        Results of Operations:
        Overview
        
        SJW  Corp.'s  consolidated  net  income  for  the  second
        quarter  of 1995 was $2,994,000, a decrease of 4.6%  from
        $3,137,000  in the second quarter of 1994.  The  decrease
        in  consolidated net income is due primarily  to  reduced
        water  usage and the sale, in the first quarter of  1995,
        of the machine shop operations.
        
        Operating Revenue
        
        The change in consolidated operating revenue from the
        same period in 1994 is due to the following factors:
        
                                     Three months ended June 30,
        Operating revenue             1995 vs. 1994
                                      _________________________
                                           Increase/(decrease)
        _____________________________________________________
        Utility:
          Consumption           $(1,562,000)           (5.9)%
          New customers              82,000             0.3 %
        Real estate                  43,000             0.2 %
        Other Operations         (1,498,000)           (5.6)%
        _____________________________________________________
                                $(2,935,000)          (11.0)%
                                ===========            =====
        
        Other operations revenue decreased primarily due to W P
        Shell Corporation's sale of the machine shop operation in
        the first quarter of 1995.

        Operating expense
        
        The change in consolidated operating expense, excluding
        income taxes, from the same period in 1994 is due to the
        following:
                                 Three months ended June 30,
        Operating Expense             1995 vs. 1994
                                 ______________________________
        Operation and maintenance $(2,767,000)        (13.6)%
        Depreciation                  140,000           0.7 %
        General Taxes                 (79,000)         (0.4)%
                                  $(2,706,000)        (13.3)%
                                  ===========         =====

        The decrease in operation and maintenance expense is
        primarily due to two factors: (1) reduced water
        production cost resulting from the availability of
        greater surface water supplies and lower customer usage,
        and (2) reduction of operation expense due to the sale of
        the machine shop.
        
        Income tax expense decreased $103,000 which is 4.6% in
        comparison to the second quarter of 1994.
        
        Since the water business is highly seasonal in nature, a
        comparison of the revenue and expense of the current
        quarter with the immediately preceding quarter would not
        be meaningful. Average usage per metered customer in the
        second quarter of 1995 decreased 7.6% from the second
        quarter of 1994.
        
        Water Supply
        
        On August 1, 1995, Santa Clara Valley Water District's 10
        reservoirs were 83% full with 141,817 acre feet of water
        in storage -- which is above average for the past 20
        years.  As of August 1, 1995, the water level in the
        Santa Clara ground water basin exceeded the 30-year
        average. The heavy rainfall in January and March of 1995
        increased the surface water supplies to the Company.
        Surface water is a less costly source of water and its
        availability significantly impacts the results of
        operation.
        
        Regulatory Affairs
        
        Because San Jose Water Company's most recent general rate
        case decision covered only the three years from 1992
        through 1994, it is not authorized to increase rates in
        1995.
        
        On July 3, 1995, San Jose Water Company submitted its
        Notice of Intent to file a general rate case application
        with the Public Utilities Commission of California.  The
        company requests an 8.7% rate increase in 1996 and a step
        rate increase of 1.2% for 1997 and 0.4% for the years
        1998 and 1999, respectively. The rate increase is
        designed to provide a return on common equity of 12.25%
        for the years 1996-1999. If interest rates remain at
        current levels, the company expects to receive a rate of
        return more in line with those being authorized today.
        This rate application is expected to provide rate relief
        in the spring of 1996.

                   PART II. OTHER INFORMATION

Item 1. LEGAL PROCEEDINGS

             Valley Title Company

        In October 1993, San Jose Water Company was named as a
        defendant by Valley Title Company and its insurer in a
        lawsuit filed in Santa Clara County Superior Court in San
        Jose, California.  Plaintiffs claimed a fire service
        pipeline ruptured in October 1992, causing water to flood
        the title company's basement.  The suit asked
        reimbursement for cleanup costs, damages for lost title
        records, business related damages and lost rents.  San
        Jose Water Company denied liability, claiming it did not
        own the portion of the water line that failed.  The title
        company had an unsealed heating oil tank in its basement
        which flooded and contributed to much of the loss.  San
        Jose Water Company took the position that to the extent
        the damage to the building and its contents was caused or
        increased by oil mixed with the water, that increase in
        damage was solely the responsibility of the title
        company.
        
        Plaintiff's insurance carrier claimed expenditures in
        excess of $5.4 million.  During the three month trial
        which ended in April 1995, San Jose Water Company's
        insurance carrier agreed to settle that claim for $3.5
        million. This portion of the claim has been paid.
        
        At trial, the title company reduced its demand for
        damages resulting from destroyed title files from $21
        million to $14 million.  The jury awarded the title
        company $3.0 million, and San Jose Water Company has
        appealed.  Because of the ongoing uncertainties of the
        appeal process, San Jose Water Company has no certain
        measure on the size of loss, if any, to the company.
        
        San Jose Water Company believes that any final award to
        plaintiff will be within the stated limits of the
        company's insurance coverage.  San Jose Water Company
        does not believe, based upon all available information,
        that the outcome of the appeal will have a material
        adverse effect on its financial position.
        
        No governmental entity is known to have an unresolved
        claim against San Jose Water Company arising from the
        release of oil in this incident.
        
        City of San Jose
        
        On June 27, 1995, the City of San Jose passed an
        ordinance imposing a franchise fee on the gross annual
        receipts arising from the use, operation, or possession
        of a "Potable Water Franchise".  This ordinance became
        effective on July 28, 1995.  SJWC maintains that it has a
        "constitutional franchise" dating from at least 1891, and
        that the City of San Jose cannot legally impose any new
        franchise or new franchise fees on SJWC's operations.
        SJWC has filed suit to challenge this new city ordinance.
        
        Although there is a procedure whereby the Public
        Utilities Commission may authorize collection of the new
        franchise fee by surcharge from its customers, SJWC has
        decided not to impose such a surcharge at this time.
        Instead, with the concurrence of the Division of
        Ratepayer Advocates, SJWC filed an advice letter on July
        13, 1995 with the Public Utilities Commission requesting
        permission to establish a memorandum account for the
        imposed franchise fee starting on the date on which the
        city ordinance becomes effective. If the Commission
        permits the establishment of such an account, SJWC
        expects to be able to collect the franchise fee from its
        customers by surcharge in the event that its efforts to
        invalidate the ordinance are unsuccessful. SJWC  does not
        believe, based upon all available information, that the
        outcome of this event will have a material adverse effect
        on its financial position.

Item 4. Submission of Matters to a Vote of Security Holders

        At the 1995 annual Meeting of Shareholders of the company
        held on April 20, 1995, nine directors were re-elected to
        the Board of Directors and the appointment of KPMG Peat
        Marwick, LLP as independent auditors for 1995 was
        ratified by the following votes:
        
        Name of Director           Votes for   Votes against
        _______________________________________________________
        Mark L. Cali               2,967,203   14,690
        J. Philip DiNapoli         2,968,758   13,135
        Drew Gibson                2,970,224   11,669
        Ronald R. James            2,969,724   12,169
        George Moss                2,968,805   13,088
        Roscoe Moss, Jr.           2,970,023   11,870
        W. Richard Roth            2,970,024   11,869
        Charles J. Toeniskoetter   2,970,024   11,869
        J. W. Weinhardt            2,970,919   10,974
        
        Ratification of appointment of independent auditors for
        1995:
        
         Votes for               Votes against         Votes
        Appointment              Appointment         Abstaining
        ____________________________________________________
         2,953,845                    9,910          18,138
        
Item 5. OTHER INFORMATION

        On July 20, 1995, the Board of Directors declared the
        regular quarterly dividend of $.54 per common share.  The
        dividend will be paid September 1, 1995 to shareholders
        of record as of the close of business on August 1, 1995.

        
        
Item 6. EXHIBITS AND REPORTS ON FORM 8-K

        (a.) Exhibits required to be filed by Item 601 of Regulation S-K.

        There were no exhibits required to be filed by Item 601
        of Regulation S-K for the quarter ended June 30, 1995.
  
   (b.) Reports on Form 8-K

        No reports on Form 8-K have been filed during the
        quarter ended June 30, 1995.

                             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.

                                     SJW Corp.

Date: August 14, 1995                  By   /s/
                                           _______________________
                                         W. R. ROTH
                                         Chief Financial Officer

 UT
 1000

                   6-MOS
                          DEC-31-1994
                             APR-01-1995
                               JUN-30-1995
                                  PER-BOOK
                      216,501
                      6,442
                          13,375
                             0
                                  27,993
                                 264,311
                                        10,159
                       22,208
                             71,896
                 104,263
                                0
                                          0
                            62,500
                               1,800
                            0
                       0
                    1,500
                            0
                          0
                                     0
                  94,248
                  264,311
                       42,018
                             2,729
                      33,416
                      36,145
                          5,873
                                 435
                   6,308
                         2,470
                                     3,838
                          0
                    3,838
                         3,511
                        2,470
                          10,313
                                     1.18
                                     1.18