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                                                                      EXHIBIT 23
 
                       CONSENT OF INDEPENDENT AUDITORS
 
We consent to the incorporation by reference in the Registration Statement (Form
S-8 No. 33-25209) pertaining to The Lincoln Electric Company 1988 Incentive
Equity Plan of our report dated March 3, 1995, with respect to the consolidated
financial statements and schedule of The Lincoln Electric Company and
subsidiaries included in the Annual Report (Form 10-K) for the year ended
December 31, 1994.
 
                                            ERNST & YOUNG LLP
 
Cleveland, Ohio
March 30, 1995
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                                                                      EXHIBIT 23
 
                       CONSENT OF INDEPENDENT ACCOUNTANTS
 
We hereby consent to the incorporation by reference in the Registration
Statement Form S-8 (No. 33-25209) of The Lincoln Electric Company of our report
dated March 27, 1995 relating to the consolidated financial statements of The
Lincoln Electric Company (Australia) Proprietary Limited and subsidiaries
appearing on page 18 of this Form 10-K.
 
/s/ Price Waterhouse
-----------------------------------
Price Waterhouse
 
Parramatta, Australia
March 27, 1995
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                                                                      EXHIBIT 23
 
KPMG KLYNVELD PEAT MARWICK GOERDELER
 
Ernst & Young
Attn: Mr. J. Katzenmeyer
1300 Huntington Building
Cleveland, Ohio 44115
USA
 
                       CONSENT OF INDEPENDENT ACCOUNTANTS
 
We consent to the incorporation by reference in Forms S-8 of our independent
auditors' report dated March 12, 1993 on the consolidated financial statements
and schedules of Messer Lincoln GmbH and its subsidiary as at December 31, 1992
referred to in the annual report on Form 10-K of The Lincoln Electric Company
for the year ended December 31, 1994.
 
Dusseldorf, March 21, 1995
 
KPMG KLYNVELD PEAT MARWICK GOERDELER
Gesellschaft mit beschrankter Haftung
Wirtschaftsprufungsgesellschaft
 


/s/ R. Kassing                                 /s/ T. te Dorsthorst
----------------------------                   ------------------------------
R. Kassing                                     T. te Dorsthorst


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                                                                      EXHIBIT 23
 
KPMG ACCOUNTANTS
 
                       CONSENT OF INDEPENDENT ACCOUNTANTS
 
We consent to the incorporation by reference in Forms S-8 of our report on the
consolidated financial statements and schedules of Lincoln-Norweld B.V. and its
subsidiaries referred to in the annual report on Form 10-K of The Lincoln
Electric Company for the year ended December 31, 1994.
 
Arnhem, The Netherlands
 
March 28, 1995
 
                                            /s/ KPMG Accounts N.V.
                                            -------------------------------
                                            KPMG Accountants N.V.