Pricing Supplement No. 4   Dated Nov. 16, 1994         Rule 424(b)(3)  
     (To Prospectus dated August 6, 1992 and             File No. 33-50232
     Prospectus Supplement dated November 4, 1994)    CUSIP No. 78355H DJ5

     $400,000,000

     RYDER SYSTEM, INC.

     Medium-Term Notes, Series 10
     (Registered Notes--Fixed Rate)
     Due Nine Months or More from Date of Issue

     Principal Amount:   $5,000,000

     Issue Price:        100%

     Issue Date:         11/23/94

     Maturity Date:      11/24/97

     Interest Rate:      7.88%

     Form:    [x]  Book Entry   [ ]  Certificated

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

          Terms of Redemption:

     Repayment at option of holder:    [x]  The holder has no option to
                                            elect repayment of the Notes
                                            prior to maturity.

                                       [ ]  The Notes are repayable prior to
                                            maturity at the option of holder.

          Terms of Repayment:      N/A

     Discount note:  [ ]  Yes   [x]  No  

          Total Amount of OID:     N/A

          Yield to Maturity:       7.88%

          Initial Accrual Period OID:   N/A


     Name of Agent and Agent's Discount or Commission:

          Merrill Lynch            $17,500

     Additional Terms: