MORGAN J P & CO INC
424B3, 1999-05-18
STATE COMMERCIAL BANKS
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Pricing Supplement No. 112  Dated May 14, 1999
(To Prospectus Supplement dated May 26, 1998
and Prospectus dated May 21, 1998)

Pursuant to Rule 424(b)(3)
Registration Statement No. 333-51961



J.P. Morgan & Co. Incorporated
60 Wall Street
New York, NY 10260-0060
(1-212) 483-2323

Medium-Term Notes, Series A
(Floating Rate Notes)

Principal Amount: $30,000,000

CUSIP:  61687Y DT1

Trade Date:  May 14, 1999

Settlement Date:  May 19, 1999

Maturity Date:  May 18, 2001

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):  Varying prices relating to
prevailing market prices

Net Proceeds to Issuer:  $30,000,000 (100.00%)

Interest Rate (per annum):  3-month LIBOR plus 5.0 basis points

Interest Rate Basis:
     (  )   Commercial Paper Rate  (  )  Federal Funds Rate
     (  )   LIBOR (Reuters)        (  )  Treasury Rate Note
     ( X)  LIBOR (Telerate)        (  )  Other:
     (   )  Prime Rate

Interest Payment Date(s):  Quarterly on the 18th of May, August,
November and February, commencing August 18, 1999 and ending May
18, 2001, subject to modified following business day convention.

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:  Second London Banking Day
preceding the Settlement Date.

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

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

Interest Determination Dates, if other than stated in the
Prospectus Supplement:  Second London Banking Day preceding the
Interest Reset Date.

Interest Reset Date if other than stated in the Prospectus
Supplement:  Quarterly on the 18th of May, August, November and
February of each year, commencing August 18, 1999 (subject to
Business Day convention described in the Prospectus Supplement).

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

Spread (plus/minus):  plus 5.0 basis points Spread Multiplier: N/A

Index Maturity:  3 months          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 (Commercial Paper Rate
                               Notes, Federal Funds Rate Notes,
                               Prime Rate Notes and LIBOR Notes)
                        (X)    Actual/360

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.
( )  The Notes may be redeemed prior to maturity.

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

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)  U.S. Bank Trust 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.




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