UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C.  20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(AMENDMENT NO. _1_)*

Quaker Chemical Corp.

(Name of Issuer)

Common Stock

(Title of Class of Securities)

747316107

(Cusip Number)

*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 disclosures 
provided in a prior cover page.

The information required on the remainder of this cover page 
shall not be deemed to be "filed" for the purpose 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).


SCHEDULE 13G

CUSIP No. 747316107	Page 2 of 6 Pages


1.	NAMES OF REPORTING PERSONS
	S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS

	Investment Counselors of Maryland, LLC

2.	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*	(a)[ ]
		(b)[ ]

3.	SEC USE ONLY

4.	CITIZENSHIP OR PLACE OF ORGANIZATION
	Delaware

5.	SOLE VOTING POWER
NUMBER OF SHARES
	302,875
BENEFICIALLY

6.	SHARED VOTING POWER
OWNED BY EACH
	69,000
REPORTING

7.	SOLE DISPOSITIVE POWER
PERSON  371,875
WITH

8.	SHARED DISPOSITIVE POWER

	--

9.	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING 
PERSON
	371,875

10.	CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN 
SHARES*
	

11.	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
	3.83%

12.	TYPE OF REPORTING PERSON*
	IA






CUSIP No. 747316107	Page 3 of 6 Pages

Item 1(a)	Name of Issuer:
		Quaker Chemical Corp.

	(b) Address of Issuer's Principal Executive Offices
		One Quaker Park
		901 Hector Street
		Conshohocken, PA  19428

Item 2(a)	Name of Person Filing:

	Investment Counselors of Maryland, LLC

	(b) Address of Principal Business Office or, if none, 
Residence:

	803 Cathedral Street
	Baltimore, Maryland  21201-5297

	(c)	Citizenship:

	Delaware

	(d)	Title of Class of Securities:

	Common Stock
	
	(e)	CUSIP Number:

	747316107

Item 3:	Capacity in Which Person is Filing:

	[x] Investment Adviser registered under Section 203 of the 
Investment Advisers Act of 1940.






CUSIP No. 747316107	Page 4 of 6 Pages


Item 4:	Ownership:

	As of December 31, 2005:

	(a)	Amount Beneficially Owned:
		371,875

	(b)	Percent of class:
		3.83%

	(c)	Number of shares to which such person has:

	(i)	Sole power to vote or to direct the vote:
		302,875

	(ii)	Shared power to vote or to direct the vote:
		69,000

	(iii)	Sole power to dispose or to direct the disposition of:
		371,875

	(iv)	Shared power to dispose or to direct the disposition 
of:
		

Item 5:	Ownership of Five Percent of Less of Class:

	If this statement is being filed to report the fact that as 
of the date hereof the reporting person has ceased to be the 
beneficial owner of more than five percent of the class of 
securities, check the following. [X]






CUSIP No. 747316107	Page 5 of 6 Pages


Item 6:	Ownership of More than Five Percent on Behalf of 
Another Person:

	Not applicable

Item 7:	Identification and Classification of the Subsidiary 
Which Acquired the Security Being Reported on By the Parent 
Holding Company:

	Not applicable

Item 8:	Identification and Classification of Members of the 
Group:

	Not applicable

Item 9:	Notice of Dissolution of Group:

	Not applicable






CUSIP No. 747316107	Page 6 of 6 Pages


Item 10:	Certification:

	By signing below I certify that, to the best of my 
knowledge and belief, the securities referred to above were 
acquired in the ordinary course of business and were not 
acquired for the purpose of and do not have the effect of 
changing or influencing the control of the issuer of such 
securities and were not acquired in connection with or as a 
participant in any transaction having such purposes or effect.

	SIGNATURE

	After reasonable inquiry and to the best of my knowledge 
and belief, I certify that the information set forth in this 
statement is true, complete and correct.


		Investment Counselors of Maryland, LLC
		By:	/s/ Robert D. McDorman, Jr.

		Robert D. McDorman, Jr.
		Principal

Date:	1/19/06