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                                  EXHIBIT 23



                  GLEIBERMAN SPEARS SHEPHERD & MENAKER, P.A.

                        CONSENT OF INDEPENDENT AUDITORS


We hereby consent to the incorporation by reference in the Post Effective
Amendment to the Registration Statement on Form S-8 (No. 33-24648) of McRae
Industries, Inc. and subsidiaries of our report dated October 5, 1998 on the
consolidated financial statements and financial statement schedule of McRae
Industries, Inc. and subsidiaries included in its Annual Report on Form 10-K
for the year ended August 1, 1998.



/s/Gleiberman Spears Shepherd & Menaker, P. A.

Charlotte, North Carolina
October 26, 1998



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