PROCTER & GAMBLE CO
8-K, 1997-09-11
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                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549


                                    FORM 8-K


                                 CURRENT REPORT

     PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported)              September 11, 1997


                          THE PROCTER & GAMBLE COMPANY
- ---------------------------------------------------------------------------
             (Exact name of registrant as specified in its charter)


    Ohio                          1-434                       31-0411980
- ---------------------------------------------------------------------------
(State or other            (Commission File Number)           (IRS Employer
jurisdiction of                                               Identification
incorporation)                                                Number)


One Procter & Gamble Plaza, Cincinnati, Ohio                  45202
- ---------------------------------------------------------------------------
(Address of principal executive offices)                      (Zip Code)


Registrant's telephone number, including area code   (513) 983-1100
                                                     -----------------






<PAGE>



ITEM 9.  SALES OF EQUITY SECURITIES PURSUANT TO REGULATIONS

     On August 4,  August 19,  September 3 and  September  4, 1997 The Procter &
Gamble Company (the "Company") sold 10,552 shares of the Company's  common stock
to employees of  subsidiaries  of the Company for  approximately  $1,503,051  in
reliance on Regulation S.

     No underwriter or placement agent was used.




                                    SIGNATURE


     Pursuant to the  requirements  of the Securities  Exchange Act of 1934, the
Registrant  has duly  caused  this  Report  to be  singed  on its  behalf by the
undersigned hereunto duly authorized.


                                        THE PROCTER & GAMBLE COMPANY


                                        /S/TERRY L. OVERBEY
                                        ------------------------------------
                                        Terry L. Overbey, Secretary
                                        September 11, 1997






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