1
                                                                      Exhibit 23








                         CONSENT OF INDEPENDENT AUDITORS

We consent to the incorporation by reference in the Registration Statements on
Form S-3 and Forms S-8 (relating to the 1992 Stock Option Plan and to 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 February 17, 1997 with
respect to the consolidated financial statements of Park-Ohio Industries, Inc.
included in this Annual Report on Form 10-K for the year ended December 31,
1996.



                                                     /s/ Ernst & Young LLP
                                                     



Cleveland, Ohio

March 27, 1997