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                                                                      EXHIBIT 23
 
                        CONSENT OF INDEPENDENT AUDITORS
 
     We consent to the incorporation by reference in the Registration Statements
of The Lincoln Electric Company (Form S-8 No. 33-25209) pertaining to The
Lincoln Electric Company 1988 Incentive Equity Plan, (Form S-8 No. 33-64189)
pertaining to The Lincoln Stock Purchase Plan and (Form S-8 No. 33-64187)
pertaining to The Lincoln Electric Company Employee Savings Plan of our report
dated February 27, 1996, 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, 1995.
 
                                          ERNST & YOUNG LLP
 
Cleveland, Ohio
March 22, 1996
 
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