Pricing Supplement No. 36 Rule 424(b)(3)
Dated August 21, 1995 File No. 33-60249
(To Prospectus dated June 27, 1995 and
Prospectus Supplement dated July 14, 1995)
INGERSOLL-RAND COMPANY
 Medium-Term Notes, Series A, Due Nine Months
or More from Date of Issue - Fixed Rate

Trade Date:                            August 18, 1995
Principal Amount:                           $8,000,000
Issue Price:                                   100.00%
Selling Agent's Commission:                      0.24%
Interest Rate:                                   6.41%
Interest Payment Date(s):              Jan 15, July 15
Interest Payment Commencing Date:     January 15, 1996
Stated Maturity:                         July 30, 1997
Original Issue Date:                   August 23, 1995
Net Proceeds to Issuer:                     $7,980,800
Regular Record Date(s):                  Jan 1, July 1
CUSIP NO.:                                  45686X BM4
Name of Trustee:                  The Bank of New York

Form:         [X]  Book-Entry Note
              [ ]  Certificated Note

Redemption:   [X]  The Notes cannot be redeemed prior to
                   maturity
              [ ]  The Notes may be redeemed prior to maturity	

Initial Redemption Date:
Initial Redemption Price: $ -
Annual Redemption Price Reduction: $ -

Repayment:    [X]  The Notes cannot be repaid prior to
                   maturity
              [ ]  The Notes can be repaid prior to maturity
                   at the option of the holder	

Repayment Price: $ -
Repayment Date:
Amortizing Note: [ ] Yes
[ ] No
Basis for formula for amortization:
Discount Note: [ ] Yes
[ ] No
Total Amount of Original Issue Discount ("OID"): $ -
Original Yield to Maturity:
Initial Accrual Period OID:
Method Used to Determine Yield for Initial Accrual Period:

                   [ ]  Approximate    [ ]  Exact

Capacity:          [X]  Agent          [ ]  Principal

If as principal:   [ ]  The Notes are being offered at varying
                        prices related to prevailing market
                        prices at the time of resale.

                   [ ]  The Notes are being offered at a fixed
                        initial public offering price [ ]% of
                        Principal Amount.  The Notes are being
                        reoffered to dealers with a
                        reallowance not to exceed [ ]% of the
                        discount.

Special Provision:	

Agents:

SALOMON BROTHERS, INC.         $    -
MERRILL LYNCH & CO.            $    -
CHASE SECURITIES, INC.         $    -
GOLDMAN, SACHS & CO.           $ 8,000,000

J. P. MORGAN SECURITIES, INC.  $    -