Rule 424(B)(3)
Registration No. 33-33253
PRICING SUPPLEMENT NO. 21 DATED FEBRUARY 1, 1994
TO PROSPECTUS DATED AUGUST 17, 1993 AND
PROSPECTUS SUPPLEMENT DATED AUGUST 17, 1993
THE QUAKER OATS COMPANY
MEDIUM TERM NOTES, SERIES C
(FIXED RATE)
____________________________________________________________________________
Principal Amount: $2,000,000 Issue Date: FEBRUARY 8, 1994
Issue Price: 100% Stated Maturity: FEBRUARY 8, 2024
Commission of Selling Agents: $15,000 Specified Currency: U.S. Dollars
Net Proceeds to Issuer: $1,985,000 Form: __X_Global
Interest Rate: 6.89% ___Certificated
Selling Agents: GOLDMAN, SACHS & CO.
Trade Date: FEBRUARY 1, 1994
____________________________________________________________________________
Interest Payment Dates: Amortizing Notes:
_X__As specified in Prospectus Supplement ____Yes
____Other (specify)________________ _X__No
Regular Record Date: Each payment of principal of,
_X__As specified in Prospectus Supplement and interest on, the Notes will
____Other (specify)________________ be made: ____Quarterly
Original Issue Discount Note: ____Semiannually
____Yes _X__No
Original Issue Discount: __________% Interest rate may be reset:
Yield to Maturity: _________% ____Yes _X__No
Terms of reset:
Repurchase Price (for Discount Securities): Redemption Information:
Other Provisions: Repayment Information:
_________________________________________________________________________
The aggregate principal amount of this offering is U.S. $2,000,000 and
relates only to Pricing Supplement No. 21. Medium-Term Notes, Series C,
may be issued by the Company in the aggregate principal amount of up to U.S.
$200,000,000 or the equivalent in foreign currencies or foreign currency
units. To date, including this offering, an aggregate of U.S. $177,000,000 or
the equivalent in foreign currency or foreign currency units of Medium-Term
Notes, Series C, have been issued.
_________________________________________________________________________
TYPE OF SALE: IF PRINCIPAL TRANSACTION, REOFFERING AT:
_X__As Agent ____varying prices related to prevailing
____As Principal market prices at the time of resale
____fixed public offering price
of ________% of Principal Amount
_________________________________________________________________________
[Insert additional tax disclosure, if necessary]
