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                                                                      EXHIBIT 23
 
                   CONSENT OF INDEPENDENT PUBLIC ACCOUNTANTS
 
To ITT Corporation:
 
     As independent public accountants, we hereby consent to the incorporation
into ITT Corporation's previously filed Registration Statements on Form S-3
(File Nos. 33-37894 and 33-45756) of our report dated June 13, 1995 on the
consolidated financial statements of ITT Corporation, to be renamed ITT
Industries, Inc., included in ITT Corporation's Proxy Statement for the Special
Meeting of Stockholders on September 21, 1995, and to all references to our Firm
included in or made a part of such Registration Statements.
 
                                            /s/ ARTHUR ANDERSEN LLP
                                                ---------------------
                                                  Arthur Andersen LLP
 
New York, NY
November 7, 1995