Exhibit 23.2
                                                                                
                                        
                   CONSENTS OF INDEPENDENT PUBLIC ACCOUNTANTS

     As independent public accountants, we hereby consent to the incorporation
by reference in this registration statement of our report dated January 21,
1997, included in the Northern Trust Corporation's Form 10-K for the year ended
December 31, 1996 and to all references to our Firm included in this
registration statement.



                                       /s/ Arthur Andersen LLP
 
                                       ARTHUR ANDERSEN LLP

Chicago, Illinois
September 16, 1997


     As independent public accountants, Hill, Taylor & Co. hereby consent to the
incorporation by reference in this Form S-8 of our report dated April 7, 1997,
included in the Northern Trust Company's Thrift-Incentive Plan Annual Report on
Form 11-K for the year ended December 31, 1996 and to all references to our Firm
included in this registration statement.

 

                                       /s/ Hill, Taylor LLC
 
                                       HILL, TAYLOR LLC

Chicago, Illinois
September 16, 1997


                              CONSENT OF ATTORNEYS

     The consent of Rossiter, Ritchie & Porter to the filing of their opinion as
an exhibit to this registration statement is contained in their opinion filed as
Exhibit 5 hereto.