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                                                                     Exhibit 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 Statement on
Form S-8 pertaining to the Amended and Restated 1992 Stock Option Plan and the
1996 Non-Employee Director Stock Option Plan of Park-Ohio Industries, Inc. for
the registration of 500,000 shares and 250,000 shares, respectively, of its
common stock of our report dated April 21, 1997 relating to the unaudited
condensed consolidated interim financial statements of Park-Ohio Industries,
Inc., which are included in its Forms 10-Q for the quarter ended March 31, 1997.

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

June 2, 1997