Securities Act Rule 424(b)(3)
                                            File No. 33-62442


                            THE ANDERSONS
              Supplement to Prospectus dated April 28, 1994 for
                        Offering of Debentures

                        ----------------------

                       CHANGE IN INTEREST RATE 

              The interest rate on the Debentures offered after 
                  October 27, 1994, will be changed to:

                       8.7% for the Ten-Year Debentures, and
                        8% for the Five-Year Debentures.

               The date of the supplement to this Prospectus is
                           October 27, 1994