Pricing Supplement No. 5  Dated April 22, 1994     Rule 424(b)(3)
     (To Prospectus dated August 6, 1992 and         File No. 33-50232
     Prospectus Supplement dated March 31, 1994)   CUSIP No. 78355HCK3

     $200,000,000

     RYDER SYSTEM, INC.

     Medium-Term Notes, Series 9
     (Registered Notes--Fixed Rate)
     Due Nine Months or More from Date of Issue

     Principal Amount:   $36,920,000

     Issue Price:        100%

     Issue Date:         April 29, 1994

     Maturity Date:      April 29, 1998

     Interest Rate:      6.92%
               __                __
     Form:    /X/  Book Entry   / /  Certificated

                    __
     Redemption:   /X/  The Notes cannot be redeemed prior to
                        maturity.
                  __
                 / /  The Notes may be redeemed prior to maturity.

     Terms of Redemption:     N/A
                                        __
     Repayment at option of holder:    /X/   The holder has  no option
                                             to elect repayment of the
                                             Notes prior to maturity.
                                        __
                                       / /   The  Notes are  repayable
                                             prior to maturity  at the
                                             option of holder.

     Terms of Repayment:      N/A
                      __         __
     Discount note:  / /  Yes   /X/  No

          Total Amount of OID:     N/A

          Yield to Maturity:       6.92%

          Initial Accrual Period OID:   N/A

     Name of Agent and Agent's Discount or Commission:

          Merrill Lynch $166,140.00

     Additional Terms: 



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