EXHIBIT (12)

                            ROHM AND HAAS COMPANY
                              AND SUBSIDIARIES

              COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

                                                YEAR ENDED DECEMBER 31,
                                          ------------------------------------
                                          1994    1993    1992    1991    1990
                                          ----    ----    ----    ----    ----
                                                 (millions of dollars)
Earnings before income taxes............. $407    $194    $261    $240    $313
Fixed charges............................   82      79      83      79      77
Capitalized interest adjustment..........   (2)     (7)     (3)     (6)    (17)
Undistributed earnings adjustment........   (2)      6       2      (2)     (5)
                                          ----    ----    ----    ----    ----
  Earnings............................... $485    $272    $343    $311    $368
                                          ====    ====    ====    ====    ====
Ratio of earnings to fixed charges.......  5.9     3.4     4.1     3.9     4.8
                                          ====    ====    ====    ====    ====

Note: Earnings consist of earnings before income taxes and fixed
      charges after eliminating undistributed earnings of affiliates
      and capitalized interest net of amortization of previously
      capitalized interest.  Fixed charges consist of interest
      expense, including capitalized interest, and amortization of
      debt discount and expense on all indebtedness, plus one-third of
      rent expense deemed to represent an interest factor.



                                     23