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                                                                     EXIHIBIT 15


             Exhibit (15) Letter Re: Unaudited Financial Information


Board of Directors and Shareholders
Park-Ohio Industries, Inc.


We are aware of the incorporation by reference in the Registration Statements on
Form S-3 and Forms S-8 (relating to the 1992 Stock Option Plan and the
Individual Account Retirement Plan) of Park-Ohio Industries, Inc. for the
registration of 363,094 shares, 350,000 shares and 1,500,000 shares,
respectively, of its common stock of our report dated July 19, 1996, relating to
the unaudited condensed consolidated interim financial statements of Park-Ohio
Industries, Inc., which are included in its Form 10-Q for the quarter ended June
30, 1996.

Pursuant to Rule 436(c) of the Securities Act of 1933 our report is not a part
of the registration statement prepared or certified by accountants within the
meaning of Section 7 or 11 of the Securities Act of 1933.


                                        /s/ Ernst & Young LLP

July 19, 1996
Cleveland, Ohio