EXHIBIT 23.1





                    CONSENT OF INDEPENDENT PUBLIC ACCOUNTANTS

   
To Coltec Industries Inc:

     As independent public accountants, we hereby consent to (1) the
incorporation by reference in this registration statement of our reports dated
January 24, 1994 included and incorporated by reference into Coltec Industries
Inc's Form 10-K for the year ended December 31, 1993, and (2) the use of our
report and to all references to our Firm included or made a part of in this
registration statement.



ARTHUR ANDERSEN LLP
New York, N.Y.
November 23, 1994