EXHIBIT 12

                            COLGATE-PALMOLIVE COMPANY

                COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

                         DOLLARS IN MILLIONS (UNAUDITED)

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                                                       NINE MONTHS ENDED
                                                      SEPTEMBER 30, 1996
                                                      ------------------
  
Income before income taxes                                $   695.1
  
ADD:                                      
Interest on indebtedness and amortization of debt 
  expense and discount or premium         
                                                              174.5
  
Portion of rents representative of interest 
  factor
                                                               23.0
  
Interest on ESOP debt, net of dividends                         1.5
  
LESS:                                     
Income of less than fifty-percent-owned 
  subsidiaries                            
                                                               (6.3)
                                                          ---------

Income as adjusted                                        $   887.8
                                                          ---------
                                                          ---------

FIXED CHARGES:                            
  
Interest on indebtedness and amortization of 
  debt expense and discount or premium    
                                                          $   174.5
  
Portion of rents representative of interest 
  factor                                                       23.0
  
Interest on ESOP debt, net of dividends                         1.5
  
Capitalized interest                                            9.6
                                                          ---------

Total fixed charges                                       $   208.6
                                                          ---------
                                                          ---------
  
Ratio of earnings to fixed charges                              4.3
                                                          ---------
                                                          ---------

In June 1989, the Company's leveraged employee stock ownership plan (ESOP)
issued $410.0 of long-term notes due through 2009 bearing an average interest
rate of 8.6%.  These notes are guaranteed by the Company.  Interest expense on
the ESOP's notes was $25.1.  This interest is funded through preferred and
common stock dividends as well as Company contributions.  The fixed charges
presented above include interest on ESOP indebtedness to the extent it is not
funded through preferred and common stock dividends.