Pricing Supplement No. 19  Dated July 18, 1996
(To Prospectus Supplement dated February 20, 1996
and Prospectus dated January 31, 1996)

Pursuant to Rule 424(b)(2)
Registration Statement No. 33-64193


J.P. Morgan & Co. Incorporated
Medium-Term Notes, Series A
 (Floating Rate Notes)
                                

Principal Amount: $150,000,000

CUSIP: 61687Y AR8

Trade Date: July 18, 1996

Settlement Date: July 23, 1996

Maturity Date: August 15, 1997

If principal amount is other than
U.S. dollars, equivalent in U.S. dollars: N/A

Exchange Agent: N/A

Price to Public (Issue Price): Variable Price Re-offer

Net Proceeds to Issuer: 99.9846%

Interest Rate (per annum): 26-week Treasury Bill rate (as quoted
on Telerate pp. 57) plus .07%, reset weekly and paid semi-
annually on an actual/actual basis.

Interest Rate Basis:
     (  )  Commercial Paper Rate   (  )  Federal Funds Rate
     (  )  LIBOR (Reuters)         (X)  Treasury Rate Note (26-week
                                   Treasury Bill, as quoted on Telerate
                                   pp.57 or, if not available, as provided
                                   in the Prospectus Supplement)
     (  )  LIBOR (Telerate)        (  )  Other:
     (  )  Prime Rate

Interest Payment Date(s): February 15, 1997 and August 15, 1997

Record Date(s): (X)  The fifteenth day (whether or not a Business
                     Day) next preceding each Interest Payment Date.
               (  )  Other

Initial Interest Rate Per Annum: Rate on the first Business Day
preceding the Settlement Date.

Interest Payment Period: (  )  Annual   ( X )  Semi-Annual
(  )  Monthly    (  )  Quarterly

Interest Reset Periods:
     (  )  Daily    ( X )  Weekly   (  )  Monthly    (  ) Quarterly
     (  )  Semi-annually; the third Wednesday of :
     (  )  Annually; the third Wednesday of:

Interest Determination Dates, if other than stated in the
Prospectus Supplement: N/A

Interest Reset Date if other than stated in the Prospectus
Supplement: N/A



Interest Calculation:

     (X)  Regular Floating Rate
     (  ) Inverse Floating Rate (Fixed Interest Rate: ___%)
     (  ) Other Floating Rate (See attached)

Spread (plus/minus): plus .07%     Spread Multiplier: N/A

Index Maturity: 26-weeks           Index Currency: N/A

Maximum Interest Rate: N/A         Minimum Interest Rate: N/A

Calculation Date if other than stated in the Prospectus
Supplement: N/A

Right of Payment:
     ( )  Subordinated   (X)  Unsubordinated

Day Count Basis:       (  )  30/360
                       (  )  Actual/360
                        (X)  Actual/Actual

Form:     (X)  Book-Entry Note (DTC)
         (  )  Certificated Note

Denomination: $250,000 with $50,000 integral multiples
thereafter.

Redemption:
(X)  The Notes may not be redeemed prior to stated maturity.

Optional Redemption Date(s):
Initial Redemption Date:
Initial Redemption Percentage:
Annual Redemption Percentage Reduction: N/A
Modified Payment Upon Acceleration: N/A

Redemption Date Prices:

Sinking Fund:  None

Extendible Note:   (  )  Yes        (X)  No

Amortization Schedule: N/A

Original Issue Discount: N/A

     Amount of OID:
     Yield to Maturity:
     Interest Accrual Date:
     Initial Accrual Period OID:

Indexed Note:  (  )  Yes        (X)  No

Calculation Agent(s):    (X)  First Trust of New York, National Association
                        (  )  Morgan Guaranty Trust Company of New York


Plan of Distribution: J.P. Morgan Securities Inc. has acted as
agent on behalf of the Company.

The Company has agreed to indemnify the Agent against certain
liabilities, including liabilities under the Securities Act of
1933, as amended.

Additional Terms:

CAPITALIZED TERMS USED IN THIS PRICING SUPPLEMENT WHICH ARE
DEFINED IN THE PROSPECTUS SUPPLEMENT OR THE PROSPECTUS SHALL HAVE
THE MEANINGS ASSIGNED TO THEM IN THE PROSPECTUS SUPPLEMENT OR THE
PROSPECTUS.