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                                                                                                 Exhibit 11
                                        DOW JONES & COMPANY, INC.
                                          and its Subsidiaries

                                    COMPUTATION OF EARNINGS PER SHARE

                                   (in thousands except per share data)


                                                                             1993        1992        1991
PRIMARY                                                                    --------    --------    --------
                                                                                          


Average shares outstanding used in the computation of
  reported earnings per share                                                99,773     101,150     101,011
Common stock equivalents (assuming the use of the proceeds from 
  their exercise or issuance to acquire treasury stock at the
  average market value of stock during the year)--shares 
  granted under employee stock option and stock purchase plans                  510         242          71
                                                                           --------    --------    --------
Average shares and common stock equivalents outstanding--primary            100,283     101,392     101,082 
                                                                           ========    ========    ========
Net income                                                                 $147,547    $107,586    $ 72,189
                                                                           ========    ========    ========
Net income per share--primary                                                 $1.47       $1.06        $.71
                                                                              =====       =====       =====

FULLY DILUTED
- - - -------------

Average shares outstanding used in the computation of
  reported earnings per share                                                99,773     101,150     101,011
Common stock equivalents (assuming the use of the proceeds from
  their exercise or issuance to acquire treasury stock at the 
  higher of average market value of stock during the year or
  year-end market price)--shares granted under employee stock 
  option and stock purchase plans                                               862         242          71
                                                                           --------    --------    --------
Average shares and common stock equivalents outstanding--fully diluted      100,635     101,392     101,082
                                                                           ========    ========    ========
Net income                                                                 $147,547    $107,586    $ 72,189
                                                                           ========    ========    ========
Net income per share--fully diluted                                           $1.47       $1.06        $.71
                                                                              =====       =====       =====