Pricing Supplement No. 24                        Rule 424(b)(3)
           Dated August 7, 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 4, 1995
           Principal Amount:                           $5,000,000
           Issue Price:                                   100.00%
           Selling Agent's Commission:                      0.45%
           Interest Rate:                                   6.53%
           Interest Payment Date(s):              Jan 15, July 15
           Interest Payment Commencing Date:     January 15, 1996
           Stated Maturity:                        August 9, 1999
           Original Issue Date:                    August 9, 1995
           Net Proceeds to Issuer:                     $4,977,500
           Regular Record Date(s):                  Jan 1, July 1
           CUSIP NO.:                                  45686X AZ6
           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.           $5,000,000
                         J. P. MORGAN SECURITIES, INC.  $    -