24




                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                    FORM 10Q

                QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE
                         SECURITIES EXCHANGE ACT OF 1934

                        For Quarter Ended March 31, 1998

                           Commission File No. 1-4582


                             RALSTON PURINA COMPANY
                             ----------------------
           -----------------------------------------------------------
             (Exact name of registrant as specified in its charter)

                        MISSOURI               43-0470580
          ------------------------------------------------------------
        (State of Incorporation)     (I.R.S. Employer Identification No.)

                  CHECKERBOARD SQUARE, ST. LOUIS MISSOURI 63164
          ------------------------------------------------------------
             (Address of principal executive offices)     (Zip Code)

                                 (314) 982-1000
          ------------------------------------------------------------
              (Registrant's telephone number, including area code)


Registrant (1) has filed all reports required to be filed by Section 13 or 15(d)
of  the  Securities Exchange Act of 1934 during the preceding 12 months, and (2)
has  been  subject  to  such  filing  requirements  for  the  past  90  days.

                         YES:      X          NO:    _____
                                 -----

Number  of shares of Ralston Purina common stock, $.10 par value, outstanding as
of  the  close  of  business  on  May  6,  1998.

                                     105,600,035
                                   ----------------

<PAGE>
PART  I  -          FINANCIAL  INFORMATION


                             RALSTON PURINA COMPANY
                      MANAGEMENT'S DISCUSSION AND ANALYSIS
                            OF FINANCIAL INFORMATION
                  (in millions except share and per share data)
        ----------------------------------------------------------------

OPERATING  RESULTS

Net  earnings  for the six months ended March 31, 1998 were $940.4, or $9.11 and
$8.55  per  share  on a basic and diluted basis, respectively.   Included in net
earnings  for  the current six months are several unusual items and an after-tax
gain  on  the  sale  of  Soy  Protein  Products  of $705.1 (pre-tax gain of $1.1
billion)  and  income  from  discontinued  operations  of $9.1.  The Soy Protein
Products  business  was  sold to E.I. Du Pont de Nemours and Company (DuPont) on
December  3,  1997.    Discontinued  operations  consist of Soy Protein Products
through  the  sale  date,  Agricultural Products, which was spun off on April 1,
1998,  and  transaction  costs  associated  with  the  spin-off.

The  following  unusual items included in the six month results were recorded in
the  second  quarter.  First, the Company recorded an after-tax gain of $9.5, or
$.09  per  basic  and diluted share, on the sale of 800,000 shares of Interstate
Bakeries  Corporation (IBC) stock.  Additionally, the Company recorded a capital
loss  tax  benefit  of  $41.5,  or  $.40  and  $.38 per basic and diluted share,
respectively,  associated  with  past  restructuring actions.  The third unusual
item  is  a restructuring charge of $43.7, after-tax, or $.42 and $.40 per share
on  a  basic and diluted basis, respectively, which was primarily related to the
Company's  rechargeable business but which also includes charges for a voluntary
early  retirement  option offered to most U.S. Battery Product employees meeting
certain  age  and  service requirements, reduced by the reversal of prior period
restructuring  charges.

The  fiscal  1997 six month net earnings of $214.1, or $2.04 and $1.92 per share
on  a  basic and diluted basis, respectively, include earnings from discontinued
operations  of  $40.8.

Earnings  from  continuing  operations  before the unusual items described above
increased  $45.6 in the current six months, or 26%, to $218.9 compared to $173.3
for  the  same  period  in  the  prior year.  Earnings per share from continuing
operations,  before  unusual items, for the six months ended March 31, 1998 were
$2.07  and  $1.98  on a basic and diluted basis, respectively, compared to $1.64
and  $1.55  in  the  prior  year.

For  the quarter ended March 31, 1998, net earnings were $79.9, or $.75 and $.72
per  basic  and diluted share, respectively, compared to $76.7, or $.72 and $.69
per basic and diluted share, for the same quarter in 1997.  Net earnings include
a  loss  from  discontinued operations of $6.6 in the second quarter of 1998 and
earnings  of  $17.7  in  the  1997  second  quarter.    Earnings from continuing
operations,  before  the unusual items recorded in the second quarter of 1998 as
described  above,  increased  $20.2 to $79.2 compared to $59.0 in the prior year
second quarter. Basic and diluted earnings from continuing operations per share,
before  unusual  items, were $.74 and $.71, respectively, in the current quarter
compared  to  $.55  and  $.53  a  year  ago.

The  earnings  increase  in the six months and in the quarter resulted primarily
from  higher  operating  earnings, income on the Company's investments in DuPont
and  IBC  and  a  lower  tax  rate,  offset  by  higher  interest  expense.


RESULTS  OF  CONTINUING  OPERATIONS

Net  sales increased 5.2% in the six months ended March 31, 1998 and 6.0% in the
quarter on increased Pet Product sales, partially offset by decreases in Battery
Product  sales.    See  the  following  section for comments on sales changes by
Business  Segment.

Gross  profit  as a percentage of sales was 50.7% in the current year six months
compared  to  49.1%  in the prior year six months.  The increased  percentage in
the  current  period  reflects  improvements  in  both  Battery Products and Pet
Products  and  increased  sales  in the higher margin Pet Products segment.  Pet
Products'  margins  were unfavorably impacted in the prior year period by higher
grain  prices as price increases were insufficient to maintain historical margin
levels.      The  increased  percentage in Battery Products reflects a favorable
product  mix  and  price  increases  in  the  Asia Pacific region in response to
currency  devaluations.    Gross profit percentages were 50.6% and 49.4% for the
quarter  ended  March  31,  1998  and  1997,  respectively.

Selling,  general  and  administrative  expense  decreased to 21.6% and 19.3% of
sales in the current  quarter and six month period, respectively, from 22.1% and
19.8% in the prior year quarter  and  six month period, respectively.   Selling,
general and administrative expenses increased 2.5% in the current six months and
3.6% in the quarter  due  to  increases  in  Pet  Products.

Advertising  and  promotion expense increased 7.9% in the current six months and
9.4%  in  the  current  quarter  due  to  additional brand advertising and trade
promotional spending in Pet Products.  As a percentage of sales, advertising and
promotion  expense  was  14.9%  and  15.5%  in the current six months and second
quarter,  respectively,  compared  to 14.5% and 15.0% in the same periods a year
ago.

Other  income/expense,  net,  was  $5.4  favorable  for  the six months and $8.7
favorable  in the quarter primarily due to dividend income earned in the quarter
ended  March  31,  1998  related  to  the  Company's  investment  in DuPont.  In
addition,  the  Company  experienced  higher returns on other investments in the
quarter ended March 31, 1998 which nearly offset higher translation and exchange
losses in the Asia Pacific and South and Central American regions in the current
six  month  period.

Income  taxes,  which  include  federal,  state  and  foreign taxes, include the
recognition  of  a  capital  loss  tax  benefit  of    $41.5  related  to  past
restructuring  actions  in  the  quarter ended March 31, 1998.  In addition, the
income  tax  percentage  was  favorably  impacted  in the current quarter by the
reversal of prior period restructuring charges for which no tax benefit had been
recorded.    Excluding these items, income taxes were 34.2% and 35.5% of pre-tax
earnings  before  equity  earnings  for  the  current  quarter  and  six months,
respectively,  compared  to  37.6%  and    37.4% in the prior year periods.  The
decrease  in  the  tax  rate  was  due  to  the 70% exclusion on dividend income
received  from DuPont and the realization of certain previously unrecognized net
operating  loss  carryforwards.


BUSINESS  SEGMENTS

Sales  for  the Pet Products segment increased 12.2% in the six months and 14.8%
in  the  quarter  on  higher  volumes  and  on  the  inclusion of sales from the
Company's  December 1997 acquisition of Edward Baker Petfoods.  Operating profit
increased  significantly  in  the  quarter  and  six months reflecting the sales
increase.    Additionally,  the six month period was favorably impacted by lower
ingredient  costs.  These increases were partially offset in the quarter and six
months  by  higher  advertising  expenditures  and  promotion  support  and  an
unfavorable  mix  in  package  size.

Sales  for the Battery Products segment decreased slightly in the six months and
also  decreased  in  the  quarter  over  the  same  periods  in  the prior year.
Increased  alkaline  volumes  and  improved product mix in the United States and
higher  nickel  metal  hydride  volumes in the rechargeable business resulted in
sales increases.  However, these increases were more than offset in both periods
by  sales  declines  in  Asia and Europe.  Sales declined in Asia Pacific due to
Asian  currency  devaluations, despite significantly higher alkaline volumes and
pricing  adjustments  in the region.  In Europe, unfavorable pricing and product
mix  resulted  in  sales  declines.

Operating  profit  before  unusual  items  for  Battery Products was flat in the
quarter and increased in the six months on continued strong performance in North
America  and  improved  results  in the rechargeable business.  The rechargeable
business  results  reflect  cost  reductions  in addition to higher nickel metal
hydride volumes.  Asia Pacific results were off in the quarter and six months as
significantly  higher  alkaline volumes, pricing adjustments and cost reductions
were  more  than  offset  by the effects of various Asian currency devaluations.

Results from discontinued operations decreased in the quarter and six months due
to  the December 1997 sale of the Soy Protein Products business, lower operating
earnings  from  Agricultural  Products,  higher  currency devaluations and costs
associated  with  the  spin-off  of  the  Agricultural  Products  business  to
shareholders.


MARKET  RISKS

The  recent  economic  crises in the Asia Pacific region, accompanied by various
currency  devaluations, represent a material change in the market risks faced by
the  Company  in  this  region.    The Company's Asia Pacific operations consist
primarily  of  the  Battery  Products  segment.  The  Company  has manufacturing
facilities  in  this  region  whose  products are both sold locally and exported
outside  the  region.    In addition, the Company sources its raw materials from
within  and  outside the region.  Market risks include the risk of loss of value
in  the  Company's  net  investment  in the Asia Pacific region as well as lower
dollar  profits for the operations in that region and increased foreign exchange
losses.

The depth and duration of the crises in the Asia Pacific region and its economic
effects  on the Company are still uncertain.  Management will continue to pursue
appropriate  actions,  as market conditions allow, to mitigate the impact of the
various  Asian  currency  devaluations  throughout  fiscal  1998.


RESTRUCTURING  ACTIVITIES

During  the six months ended March 31, 1998, the Company recorded provisions for
restructuring  totaling  $43.7,  after  tax.    On  a pre-tax basis, charges for
restructuring  were  $74.8  and  consisted  of  cash costs of $13.2 and non-cash
charges  of  $61.6.    The total charge and the non-cash component are net of an
$8.0  reversal  of  prior  period  restructuring  charges.

Included  in  the  total  pre-tax  charge  of  $74.8  are impairment write-downs
totaling $66.4, primarily representing an impairment write-down of the Company's
investment in lithium-ion rechargeable battery manufacturing assets.  Fair value
of  those assets was primarily determined based upon estimates of recovery value
for  unique  manufacturing  equipment.    Due  to  rapid changes in the business
environment  since  the  beginning  of  the  lithium-ion project in 1996, it has
become  more  economical  to  source lithium-ion cells from other manufacturers.
The  Company  will  continue  to  assemble  and package lithium-ion rechargeable
batteries.

The  current  period  restructuring  provision  also  includes  charges of $9.9,
pre-tax,  for a voluntary early retirement option offered to most U.S. Energizer
employees  meeting  certain  age  and service requirements.  The Company expects
additional  early  retirement  charges  in the third quarter of this fiscal year
after  all  employees  have responded to the offer.  The amount of those charges
will depend on the level of acceptance of the offer, but it is expected that the
third  quarter  pre-tax  charge  will  be  approximately  $10  to  $15.

During  the  current six months, approximately 350 employees were terminated and
cash exit costs of $12.7 were incurred in connection with restructuring accruals
established  in  prior  years.    These provisions were primarily related to the
continued  rationalization of Battery Products' production capacity and business
structure.  Activities impacting the restructuring reserve during the six months
ended  March  31,  1998  were  as  follows:

<TABLE>
<CAPTION>



<S>                                                                         <C>
Reserve balance at September 30, 1997                                       $ 66.3 
Provision recorded, net of reversals of prior period reserves of $8.0         74.8 
Portion of current period provision classified as property and other asset
   Impairments, net of reversals                                             (61.6)
Cash exit costs incurred                                                     (12.7)
Decrease due to translation                                                    (.2)
                                                                            -------
Reserve balance at March 31, 1998                                           $ 66.6 
                                                                            =======
</TABLE>



<PAGE>
FINANCIAL  CONDITION

The  Company's    primary  source  of  liquidity  is  cash  flow  generated from
operations.    The  Company's  investments  in DuPont and IBC provide additional
sources  of  liquidity.  For the six months ended March 31, 1998, cash flow from
continuing  operations  was  $245.4  compared  to $257.2 in the six months ended
March  31,  1997.    The decrease in cash flow in the current six months results
from  increased  cash  earnings,  more than offset by changes in working capital
items,  primarily  increased  accounts  receivable.

Working  capital  was $246.2 at March 31, 1998 and $289.7 at September 30, 1997.
The  decrease  in  working  capital  at  March  31,  1998 is primarily due to an
increased  level  of  notes  payable,  partially  offset by increases in various
current  asset  accounts  and  decreased  accounts  payable  and  other  current
liabilities.

Cash  used by investing activities - continuing operations increased from $122.1
in the six months ended March 31, 1997 to $324.1 in the current six months.  The
primary  reason  for  this  increase was the December 1997 acquisition of Edward
Baker  Petfoods  for  $182.5.

In December 1997, the Company sold its Soy Protein Products operations to DuPont
for  $1,554.2,  comprised  of  22.5 million shares of DuPont common stock (which
stock  was  valued  at  $1,399.2 at purchase date) and the assumption of certain
liabilities.  This non-cash transaction resulted in an after-tax gain of $705.1.

The Company repurchased approximately 709,000 shares of RAL Stock during the six
months  ended March 31, 1998.  A new share repurchase authorization was approved
by the Board of Directors on April 6, 1998 authorizing the purchase of up to two
million  shares  of  RAL Stock.   No shares have yet been repurchased under this
authorization.


<PAGE>
SUBSEQUENT  EVENT

On  April  1,  1998,  the  Company  completed the separation of its Agricultural
Products  business  in  a  tax-free  spin-off  to  shareholders.

FORWARD-LOOKING  STATEMENTS

Statements  in  this  document  that  are  not  historical  are  forward-looking
statements within the meaning of the Private Securities Litigation Reform Act of
1995.    The  Company  cautions  readers  not  to  place  undue  reliance on any
forward-looking  statements,  which  speak  only  as  of  the  date  made.

The  Company  advises  readers that various risks and uncertainties could affect
its  financial  performance  and  could  cause  the Company's actual results for
future  periods to differ materially from those anticipated or projected.  These
risks  and uncertainties include, but are not limited to:  the effect of general
economic  conditions;  fluctuations  in  supply  and  demand  for  the Company's
products;  competition and competitive pricing pressures in the battery products
and  pet products industries, both domestically and internationally; significant
increases  in  operating  expenses,  including  the  cost  of  raw  materials;
fluctuations  in the value of the Company's investments in DuPont and IBC common
stock;  continued  Asian  market  and  currency turmoil and the possibility that
attempts to mitigate the impact of currency devaluations will not be successful;
changes  in  trade  or  monetary  policies,  rates  of  taxation  or tariffs and
regulatory  requirements  of  the  United  States  and other nations, as well as
political,  economic  or  social  instability in certain regions of the world in
which  the  Company does business; and other risks detailed from time to time in
the Company's publicly-filed documents, including its Annual Report on Form 10-K
for  the  period  ended  September  30,  1997.


<PAGE>
<TABLE>
<CAPTION>

                              RALSTON PURINA COMPANY AND SUBSIDIARIES
                                CONSOLIDATED STATEMENT OF EARNINGS
                            (DOLLARS IN MILLIONS EXCEPT PER SHARE DATA)


                                                            QUARTER ENDED           SIX MONTHS
                                                            -------------           ----------
                                                              MARCH 31,           ENDED MARCH 31,
                                                             -------------        ---------------


                                                          1998       1997       1998       1997
                                                        ---------  ---------  ---------  ---------
<S>                                                     <C>        <C>        <C>        <C>
Net Sales                                               $1,110.8   $1,048.4   $2,427.9   $2,308.9 
                                                        ---------  ---------  ---------  ---------

Costs and Expenses
  Cost of products sold                                    548.9      530.4    1,197.1    1,175.8 
  Selling, general and administrative                      240.3      231.9      469.4      458.0 
  Advertising and promotion                                171.9      157.1      362.3      335.7 
  Interest expense                                          49.3       42.8       95.6       87.0 
  Provisions for restructuring                              74.8          -       74.8          - 
  Gain on sale of IBC stock                                (14.7)         -      (14.7)         - 
  Other (income)/expense, net                               (6.2)       2.5       (6.4)      (1.0)
                                                        --------   ---------  ---------  ---------
                                                         1,064.3      964.7    2,178.1    2,055.5 
                                                        ---------  ---------  ---------  ---------

Earnings from Continuing Operations before
  Income Taxes and Equity Earnings                          46.5       83.7      249.8      253.4 

Income Tax (Provision)/Benefit                              31.6      (31.5)     (42.0)     (94.7)

Equity Earnings, Net of Taxes                                8.4        6.8       18.4       14.6 
                                                        ---------  ---------  ---------  ---------

Earnings from Continuing Operations                         86.5       59.0      226.2      173.3 

Net Earnings/(Loss) from Discontinued Operations            (6.6)      17.7        9.1       40.8 

Gain on Sale of Discontinued Operations                        -          -      705.1          - 
                                                        ---------  ---------  ---------  ---------

Net Earnings                                                79.9       76.7      940.4      214.1 

Preferred Stock Dividend, Net of Taxes                      (2.9)      (3.3)      (6.0)      (6.7)
                                                        ---------  ---------  ---------  ---------

Earnings Available to Common Shareholders               $   77.0   $   73.4   $  934.4   $  207.4 
                                                        =========  =========  =========  =========

Cash Dividends Declared per Common Share                $   0.60   $   0.60   $   0.60   $   0.60 
                                                        =========  =========  =========  =========

Earnings Per Share
    Basic
      Earnings from continuing operations               $   0.81   $   0.55   $   2.14   $   1.64 
      Net earnings/(loss) from discontinued operations     (0.06)      0.17       0.09       0.40 
      Gain on sale of discontinued operations                  -          -       6.88          - 
                                                        ---------  ---------  ---------  ---------
      Net Earnings                                      $   0.75   $   0.72   $   9.11   $   2.04 
                                                        =========  =========  =========  =========


<PAGE>

    Diluted
      Earnings from continuing operations               $   0.78   $   0.53   $   2.05   $   1.55 
      Net earnings/(loss) from discontinued operations     (0.06)      0.16       0.08       0.37 
      Gain on sale of discontinued operations                  -          -       6.42          - 
                                                        ---------  ---------  ---------  ---------
      Net Earnings                                      $   0.72   $   0.69   $   8.55   $   1.92 
                                                        =========  =========  =========  =========

</TABLE>


            See Accompanying Notes to Condensed Financial Statements.




<PAGE>
<TABLE>
<CAPTION>

                     RALSTON PURINA COMPANY AND SUBSIDIARIES
                           CONSOLIDATED BALANCE SHEET
                                   (CONDENSED)
                              (DOLLARS IN MILLIONS)

                                                          MARCH 31, SEPTEMBER 30,
                                                          --------- -------------

                                                             1998         1997
                                                             ----         ----

                                     ASSETS

Current Assets
<S>                                                             <C>        <C>
  Cash and cash equivalents                                 $  146.3   $  109.1 
  Receivables, less allowance for doubtful accounts
    of $26.7 and $24.8, respectively                           695.1      675.2 
  Inventories
    Raw materials and supplies                                 133.0      119.7 
    Work in process                                             95.8      115.8 
    Finished products                                          360.4      369.3 
  Other current assets                                         142.8      116.4 
                                                            ---------  ---------
    Total Current Assets                                     1,573.4    1,505.5 

Investments and Other Assets                                 3,158.5    1,530.3 

Investment in Discontinued Operations                          270.9      592.3 

Property at Cost                                             2,210.7    2,160.6 
  Accumulated depreciation                                   1,101.2    1,046.9 
                                                            ---------  ---------
                                                             1,109.5    1,113.7 
                                                            ---------  ---------
      Total                                                 $6,112.3   $4,741.8 
                                                            =========  =========


              LIABILITIES AND SHAREHOLDERS EQUITY

Current Liabilities
  Current maturities of long-term debt                      $   72.6   $  106.2 
  Notes payable                                                519.7      340.3 
  Accounts payable                                             242.2      264.0 
  Other current liabilities                                    492.7      505.3 
                                                            ---------  ---------
    Total Current Liabilities                                1,327.2    1,215.8 

Long-Term Debt                                               1,820.6    1,860.4 

Deferred Income Taxes                                          402.7          - 

Other Liabilities                                              542.5      507.4 

Redeemable Preferred Stock                                     270.3      304.9 

Unearned ESOP Compensation                                     (39.0)     (63.8)

Shareholders Equity
  Preferred stock                                                  -          - 
  Common stock                                                  11.5       11.5 
  Capital in excess of par value                               401.0      320.0 
  Retained earnings                                          2,428.4    1,566.7 
  Cumulative translation adjustment                           (179.9)    (129.8)
  Common stock in treasury, at cost                           (496.7)    (466.7)
  Unearned portion of restricted stock                          (2.6)      (3.4)
  Value of common stock held in Grantor Trust                 (459.4)    (381.2)
  Unrealized holding gain on available-for-sale securities      85.7          - 
                                                            ---------  ---------
    Total Shareholders Equity                                1,788.0      917.1 
                                                            ---------  ---------
      Total                                                 $6,112.3   $4,741.8 
                                                            =========  =========
</TABLE>


            See Accompanying Notes to Condensed Financial Statements.



<PAGE>
<TABLE>
<CAPTION>


<PAGE>
                      RALSTON PURINA COMPANY AND SUBSIDIARIES
                        CONSOLIDATED STATEMENT OF CASH FLOWS
                                    (CONDENSED)
                               (DOLLARS IN MILLIONS)

                                                        SIX MONTHS ENDED MARCH 31,
                                                        --------------------------

                                                                    1998      1997
                                                                    ----      ----

Cash Flow from Operations
<S>                                                              <C>          <C>
  Net earnings                                                   $ 940.4   $ 214.1 
  Gain on sale of discontinued operations                         (705.1)        - 
  Gain on sale of IBC stock                                        (14.7)        - 
  Net earnings from discontinued operations                         (9.1)    (40.8)
  Non-cash items included in income                                117.4     104.8 
  Changes in assets and liabilities used in operations             (67.4)    (11.9)
  Other, net                                                       (16.1)     (9.0)
                                                                 --------  --------
    Cash flow from continuing operations                           245.4     257.2 
    Cash flow from discontinued operations                         (18.9)     69.6 
                                                                 --------  --------
      Net cash flow from operations                                226.5     326.8 
                                                                 --------  --------

Cash Flow from Investing Activities
  Acquisition of businesses                                       (182.5)        - 
  Property additions, net                                         (116.1)   (119.3)
  Proceeds from sale of IBC stock                                   27.1         - 
  Other, net                                                       (52.6)     (2.8)
                                                                 --------  --------
    Cash used by investing activities - continuing operations     (324.1)   (122.1)
    Cash used by investing activities - discontinued operations    (60.0)    (53.6)
                                                                 --------  --------
      Net cash used by investing activities                       (384.1)   (175.7)
                                                                 --------  --------

Cash Flow from Financing Activities
    Net cash proceeds from (payment of) debt                       354.7     (35.2)
    Dividends paid                                                 (71.8)    (72.0)
    Treasury stock purchases                                       (70.0)    (24.7)
    Other, net                                                      (6.7)      8.0 
                                                                 --------  --------
      Net cash provided (used) by financing activities             206.2    (123.9)
                                                                 --------  --------

Effect of Exchange Rate Changes on Cash                            (11.4)     (2.9)
                                                                 --------  --------

Net Increase in Cash and Cash Equivalents                           37.2      24.3 

Cash and Cash Equivalents, Beginning of Period                     109.1      62.3 
                                                                 --------  --------
Cash and Cash Equivalents, End of Period                         $ 146.3   $  86.6 
                                                                 ========  ========
</TABLE>


            See Accompanying Notes to Condensed Financial Statements.

<PAGE>
                     RALSTON PURINA COMPANY AND SUBSIDIARIES
                     NOTES TO CONDENSED FINANCIAL STATEMENTS
                                 MARCH 31, 1998
                              (DOLLARS IN MILLIONS)

Note  1  - The accompanying unaudited financial statements have been prepared in
accordance  with  the  instructions  for Form 10-Q and do not include all of the
information  and  footnotes required by generally accepted accounting principles
for  complete  financial  statements.    In  the  opinion  of  management,  all
adjustments  considered  necessary  for  a fair presentation have been included.
Operating  results for any quarter are not necessarily indicative of the results
for  any other quarter or for the full year.  These statements should be read in
conjunction  with  the  financial  statements  and notes thereto included in the
Ralston  Purina Company (the Company) Annual Report to Shareholders for the year
ended  September  30,  1997.

Note  2  -  During  the  six  months  ended March 31, 1998, the company recorded
provisions  for  restructuring  totaling  $43.7, after tax.  On a pre-tax basis,
charges  for  restructuring  were $74.8 and consisted of cash costs of $13.2 and
non-cash  charges of $61.6.  The total charge and the non-cash component are net
of  an  $8.0  reversal  of  prior  period  restructuring  charges.

Included  in  the  total  pre-tax  charge  of  $74.8  are impairment write-downs
totaling $66.4, primarily representing an impairment write-down of the Company's
investment in lithium-ion rechargeable battery manufacturing assets.  Fair value
of  those assets was primarily determined based upon estimates of recovery value
for  unique  manufacturing  equipment.    Due  to  rapid changes in the business
environment  since  the  beginning  of  the  lithium-ion project in 1996, it has
become  more  economical  to  source lithium-ion cells from other manufacturers.
The  Company  will  continue  to  assemble  and package lithium-ion rechargeable
batteries.

The  current  period  restructuring  provision  also  includes  charges of $9.9,
pre-tax,  for a voluntary early retirement option offered to most U.S. Energizer
employees  meeting  certain  age  and service requirements.  The Company expects
additional  early  retirement  charges  in the third quarter of this fiscal year
after  all  employees  have responded to the offer.  The amount of those charges
will depend on the level of acceptance of the offer, but it is expected that the
third  quarter  charge  will  be  approximately  $10  to  $15.

Note  3  - During the current quarter, the Company recognized a capital loss tax
benefit  of  $41.5,  or  $0.40 and $0.38 per share on a basic and diluted basis,
respectively,  related  to  past  restructuring  actions.

Note  4  -  During  the  current quarter, the Company sold 800,000 shares of its
investment  in Interstate Bakeries Corporation (IBC) common stock for $ 27.1 and
recognized  an after-tax gain of $9.5, or $0.09 per share on a basic and diluted
basis.    On  a  pre-tax  basis,    the gain on the sale of IBC stock was $14.7.

Note  5 - On December 3, 1997, the Company completed the sale of the Soy Protein
Products  business to E.I. Du Pont de Nemours and Company (DuPont) for $1,554.2,
comprised  of 22.5 million shares of DuPont common stock (which stock was valued
at  $1,399.2 at the date of purchase) and the assumption of certain liabilities.
During  the six months ended March 31, 1998, the Company recorded a pre-tax gain
on  the  sale  of  the  Soy  Protein  Products  business  of $1.1 billion and an
after-tax  gain  of  $705.1,  or  $6.88  and  $6.42 per basic and diluted share,
respectively.

Note   6 - Discontinued operations consist of the Company's Soy Protein Products
business  through  the  sale  date  (see  Note 5) and the Company's Agricultural
Products  business,  which  was  spun  off  subsequent to the end of the current
quarter  on  April  1,  1998.  Discontinued operations for the current year also
include  transaction  costs  associated  with  the  spin-off.    Amounts  in the
financial  statements  and  notes  for  all  periods shown have been restated to
reflect  discontinued  operations  accounting.

Note  7 - In December 1997, the Company acquired Edward Baker Petfoods, a United
Kingdom  manufacturer  of  extruded complete pet foods and a supplier of branded
and  private label products to the European market, for $182.5.  The acquisition
has been accounted for using the purchase method of accounting.  The acquisition
of  Edward  Baker is not expected to have a significant effect on the net sales,
net  earnings  or earnings per share of the Company for the year ended September
30,  1998.

Note  8  - In March 1998, the American Institute of Certified Public Accountants
issued  Statement  of  Position  (SOP)  No.  98-1,  Accounting  for the Costs of
Computer  Software  Developed  or  Obtained  for  Internal Use.   This statement
requires  that  certain internal and external costs associated with the purchase
and/or development of internal use software be capitalized rather than expensed.
The Company implemented this statement as of the beginning of the current fiscal
year.    The  implementation of this statement did not have a material effect on
the  results  of operations for the second quarter or six months ended March 31,
1998.

Capitalized  software  costs,  are included in deferred charges and other assets
within  Investments  and  Other Assets (see Note 12) and are amortized using the
straight-line method over periods of related benefit ranging primarily from 3 to
7  years.

Note  9  -  In  February  1997,  the Financial Accounting Standards Board issued
Statement  of  Financial  Accounting  Standards  No.  128,  Earnings  per Share.
Statement  128  replaces  the  previously  reported  primary  and  fully diluted
earnings  per  share  with basic and diluted earnings per share.  Basic earnings
per  share  is  based  on  the  average  number of shares outstanding during the
period.    This  calculation  is  the  same  as  the  primary earnings per share
calculation  previously  reported  by  the  Company.

Diluted  earnings  per  share  is  very similar to the previously reported fully
diluted earnings per share and is based on the average number of shares used for
the  basic  earnings  per share calculation, adjusted for the dilutive effect of
convertible  preferred  stock,  stock  options,  convertible  debentures  and
compensation  awards.

The following table sets forth the computation of basic and diluted earnings per
share  in  accordance with the provisions of Statement 128.  Previously reported
diluted  earnings per share amounts have been restated, as necessary, to conform
to  Statement  128  requirements.

<PAGE>
<TABLE>
<CAPTION>

                                                     Quarter Ended        Six Months
                                                     -------------        ----------
                                                        March 31,       Ended March 31,
                                                     -------------      ---------------
                                                      1998     1997      1998     1997
                                                      ----     ----      ----     ----

Numerator:
<S>                                                   <C>       <C>       <C>        <C>
  Earnings from continuing operations                 $ 86.5   $ 59.0   $226.2   $173.3 
  Preferred stock dividends                             (2.9)    (3.3)    (6.0)    (6.7)
                                                      -------  -------  -------  -------
  Numerator for basic earnings per share -
    Earnings from continuing operations
      available to common shareholders
                                                      $ 83.6   $ 55.7   $220.2   $166.6 

  Effect of dilutive securities:
    ESOP stock                                           2.6      2.6      5.3      5.2 
  Numerator for diluted earnings per share -
    Earnings from continuing operations
      available to common shareholders
                                                      $ 86.2   $ 58.3   $225.5   $171.8 
                                                      -------  -------  -------  -------
    Net earnings/(loss) from discontinued operations  $ (6.6)  $ 17.7   $  9.1   $ 40.8 
                                                      -------  -------  -------  -------
    Gain on sale of discontinued opertaions           $    -   $    -   $705.1   $    - 
                                                      -------  -------  -------  -------

Denominator:
  Denominator for basic earnings per share -
    weighted-average shares *                          102.7    102.0    102.6    101.9 

  Effect of dilutive securities:
    ESOP stock                                           5.7      6.5      5.9      6.7 
    Stock options **                                     1.5      1.9      1.4      1.8 
    Deferred Compensation                                  -      0.4        -      0.4 
                                                      -------  -------  -------  -------
  Dilutive potential common shares                       7.2      8.8      7.3      8.9 

  Denominator for diluted earnings per
    share - adjusted weighted-average
    shares and assumed conversions                     109.9    110.8    109.9    110.8 
                                                      =======  =======  =======  =======

Basic earnings per share:
  Earnings from continuing operations                 $ 0.81   $ 0.55   $ 2.14   $ 1.64 
  Net earnings/(loss) from discontinued operations     (0.06)    0.17     0.09     0.40 
  Gain on sale of discontinued operations                  -        -     6.88        - 
                                                      -------  -------  -------  -------
  Net earnings                                        $ 0.75   $ 0.72   $ 9.11   $ 2.04 
                                                      =======  =======  =======  =======

Diluted earnings per share:
  Earnings from continuing operations                 $ 0.78   $ 0.53   $ 2.05   $ 1.55 
  Net earnings/(loss) from discontinued operations     (0.06)    0.16     0.08     0.37 
  Gain on sale of discontinued operations                  -        -     6.42        - 
                                                      -------  -------  -------  -------
  Net earnings                                        $ 0.72   $ 0.69   $ 8.55   $ 1.92 
                                                      =======  =======  =======  =======
</TABLE>




<PAGE>
[FN]
*        Weighted  average shares used for the computation of basic earnings per
share  excludes  4,334,000  and  4,275,000  shares  of  common stock held by the
Company's  Grantor  Trust  at  March  31,  1998  and  1997,  respectively.

**    Options  to  purchase 32,462 shares of common stock at prices ranging from
$106.04  to  $132.63  per  share, and 1,733,882 shares of common stock at prices
ranging  from $58.00 to $132.63 per share outstanding during the quarter and six
months  ended  March  31,  1998  and  1997,  respectively,  were not included in
weighted  average  shares used for the computation of diluted earnings per share
because  they  were  antidilutive  at  period  end.


Note  10  -  At  March  31,  1998, there were 102,344,000 shares of common stock
outstanding,  exclusive  of  8,019,000  shares  held  in  treasury and 4,334,000
Grantor  Trust shares.   At September 30, 1997, there were 102,271,000 shares of
common  stock  outstanding,  exclusive  of 8,116,000 shares held in treasury and
4,307,000  Grantor  Trust  shares.

Note  11  - Other (income)/expense, net, for the six months ended March 31, 1998
and  1997,  consists  of  the  following:
<TABLE>
<CAPTION>

                                      March  31,
                                    1998     1997
                                   -------  ------
<S>                                <C>      <C>
Net translation and exchange loss  $  8.8   $ 4.6 
Dividends on DuPont common stock     (7.1)      - 
Other investment income              (2.6)   (1.8)
Return on other investments          (5.7)   (2.1)
Miscellaneous (income)/expense        0.2    (1.7)
                                   -------  ------
                                   $( 6.4)  $(1.0)
                                   =======  ======
</TABLE>



Note  12  -  Investments  and  Other  Assets  consist  of  the  following:

<TABLE>
<CAPTION>

                                    March 31,  Sept. 30,
                                       1998      1997
                                     --------  --------
<S>                                  <C>       <C>
Goodwill                             $  563.2  $  446.5
Other intangible assets                 237.0     236.4
Investments in affiliated companies     310.3     299.9
Available-for-sale securities         1,541.1         -
Deferred charges and other assets       506.9     547.5
                                     --------  --------
                                     $3,158.5  $1,530.3
                                     ========  ========
</TABLE>



Note  13  -  Available-for-sale securities consist primarily of shares of DuPont
common  stock  obtained in connection with the sale of the Company's Soy Protein
Products  business  (see  Note 5).  Available-for-sale securities are carried at
fair  value,  based  on  quoted market prices.  The fair value and cost basis of
these  securities  at  March  31, 1998, are $1,541.1 and $1,408.1, respectively,
resulting  in a gross unrealized holding gain of $133.  This gain, net of tax of
$47.3,  is shown as a separate component of shareholders equity.  The changes in
net  unrealized  holding  gain for the three and six months ended March 31, 1998
are  $116.3  and  $85.7,  respectively.


Note  14 - During the first quarter of the current year, the Company adopted SOP
96-1,  Environmental  Remediation  Liabilities, which was issued in October 1996
and  provides  guidance for the accrual of environmental remediation costs.  The
adoption  of SOP 96-1 did not have a material effect on the financial statements
of  the Company for the six months ended March 31, 1998.  As a matter of policy,
costs  of  future expenditures for environmental remediation obligations are not
discounted  to  their  present  value.



<PAGE>

PART  II  -          OTHER  INFORMATION
                     ------------------

There  is  no  information  required to be reported under any items except those
indicated  below.

Item  5.     Other Information.  As a result of the Registrant's distribution on
             -----------------
April  1,  1998  of  all  outstanding  shares of capital stock of its subsidiary
Agribrands  International,  Inc.  to holders of its $.10 par value Common Stock,
and  pursuant  to  Section  11(c)  of  the Rights Agreement dated March 28, 1996
between  the Registrant and Norwest Bank, N.A., as Rights Agent and successor to
Boatmen's Trust Company, the Purchase Price, as defined in the Rights Agreement,
has  been adjusted from $200 for each Common Share pursuant to the exercise of a
Right  to $192.80.  In addition, as a result of the Agribrands distribution, and
pursuant  to  the terms of Section 9(d) of the Certificate of Designation of the
Registrant's  Series  A ESOP Convertible Preferred Stock (the "ESOP Stock"), the
Conversion Denominator with respect to the ESOP Stock was adjusted from 48.40 to
46.72  and,  consequently,  each  share  of  ESOP  Stock  is now convertible, in
accordance with the terms of the Certificate of Designation, into 2.37 shares of
the  Registrant's  $.10  par  value  Common  Stock.


Item 6.   Exhibits and Reports on Form 8-K
          ---------------------------------

          (a)  Exhibits filed with this Report:

          (10) Agreement and Plan of Reorganization between Ralston Purina 
               Company and Agribrands International, Inc. dated April 1, 1998

          (27) Financial Data Schedule

          (27) Restated Financial Data Schedule

          (b)  Reports on Form 8-K

          No reports on Form 8-K were filed during the quarter for which 
          this report is filed.



<PAGE>

                                   SIGNATURES


Pursuant  to  the  requirements  of  the  Securities  Exchange  Act of 1934, the
Registrant  has  duly  caused  this  report  to  be  signed on its behalf by the
undersigned  thereunto  duly  authorized.



RALSTON  PURINA  COMPANY
-----------------------------------------
Registrant


By:/s/ James R. Elsesser
   --------------------------------------
James  R.  Elsesser
Vice  President  and  Chief  Financial  Officer



Date:    May  13,  1998


<PAGE>
EXHIBIT  INDEX
----------------------


     EX-10   Agreement and Plan of Reorganization between Ralston Purina 
             Company and Agribrands International, Inc. dated April 1, 1998

     EX-27   Financial  Data  Schedule  for  Second  Quarter  1998
             (provided  electronically)

     EX-27   Restated  Financial  Data  Schedule  for  First Quarter 1998
             (provided  electronically)


Exhibit  27
(Document  prepared  on  Edgar)





i:\sec\10q\2qtr-98.doc