Rule 424(B)(3)
Registration No. 33-33253
PRICING SUPPLEMENT NO. 23 DATED JUNE 16, 1995
TO PROSPECTUS DATED APRIL 21, 1995 AND PROSPECTUS SUPPLEMENT DATED APRIL 21,1995
THE QUAKER OATS COMPANY
MEDIUM TERM NOTES, SERIES D
(FIXED RATE)
____________________________________________________________________________
Principal Amount: $10,000,000 Issue Date: JUNE 21, 1995
Issue Price: 100% Stated Maturity: JUNE 21, 2000
Commission of Selling Agents: $50,000 Specified Currency: U.S. Dollars
Net Proceeds to Issuer: $9,950,000 Form: _X_Global
Interest Rate: 6.47% ___Certificated
Selling Agents: LEHMAN BROTHERS
Trade Date: JUNE 16, 1995
____________________________________________________________________________
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. $10,000,000 and
relates only to Pricing Supplement No. 23. Medium-Term Notes, Series D,
may be issued by the Company in the aggregate principal amount of up to U.S.
$400,000,000 or the equivalent in foreign currencies or foreign currency
units. To date, including this offering, an aggregate of U.S. $192,000,000 or
the equivalent in foreign currency or foreign currency units of Medium-Term
Notes, Series D, 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]
