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Rule 424(b)(2)
File No. 33-644
PRICING SUPPLEMENT NO. 48 DATED September 2, 1997
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(To Prospectus dated December 7, 1995 as supplemented
by Prospectus Supplement dated December 27, 1995)
MARSHALL & ILSLEY CORPORATION
Medium-Term Notes, Series D
Due from 9 months to 30 years from date of Issue
Fixed Rate Notes
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Trade Date: September 2, 1997 Issue Price: 99.500%
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Original Issued Date: September 5, 1997 Principal Amount: $750,000.00
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Interest Rate
Maturity Date: September 5, 2002 Per Annum: 6.570%
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Redemption:
Check box opposite applicable paragraph.
[X] The Notes cannot be redeemed prior to maturity
[ ] The Notes may be redeemed prior to maturity
Terms of Redemption:
Additional Terms:
CUSIP - 57183HES6
