Exhibit 23
                                                                ----------


INDEPENDENT AUDITORS' CONSENT


We consent to the incorporation by reference in Post-Effective Amendment No. 1 
to Registration Statement No. 2-79663, Post-Effective Amendment No. 1 to 
Registration Statement No. 33-12513, Registration Statement No. 33-18877, 
Registration Statement No. 33-22106, Registration Statement No. 33-44236,  
Registration Statement No. 33-53968, Registration Statement No. 33-49785, 
Registration Statement No. 33-49849, Registration Statement No. 33-51071, 
Registration Statement No. 33-51735, Registration Statement No. 33-54811, 
Registration Statement No. 33-58563, Registration Statement No. 333-10797, 
Registration Statement No. 333-13115 and Registration Statement No. 333-16563 
on Forms  S-8 and Registration Statement No. 333-18345 on Form S-3 of our
report dated January 23, 1997, incorporated by reference in the Annual Report 
on Form 10-K of Union Pacific Corporation for the year ended December 31, 1996.



/s/ Deloitte & Touche LLP
DELOITTE & TOUCHE LLP

New York, New York
March 26, 1997