PROSPECTUS SUPPLEMENT                                   For SEC Filing Purposes
(to Prospectus dated April 24, 1995)                 Filed under Rule 424(b)(2)
                                                      Registration No. 33-57011

65,600 Shares           ASHLAND INC.              Common Stock ($1.00 par value)

Pursuant to a Sales Agency  Agreement  dated May 1, 1995 between  Ashland Inc.
(the  "Company")  and  NatWest  Securities  Limited  and CS First  Boston (the
"Agents"),  the Company  sold,  during the Pricing  Period shown below through
NatWest Securities Limited, 65,600 shares of Common Stock pursuant to ordinary
brokers' transactions on the NYSE and/or the Chicago Stock Exchange.


Pricing Period:                 July 24 Through July 28, 1995

Common Stock sold:                   40,000  Average Market Price Shares
                                     25,600  Additional Shares
                                     65,600 Total Shares Sold

Arithmetic Mean of the High
and Low Sale Prices of the
Common Stock reported on the
NYSE for Each Trading Day of    7/24/95   7/25/95   7/26/95   7/27/95
the Pricing Period              34.6250   34.5000   34.3125   34.3750

Average Market Price       $    34.4531



High and Low Sale Prices at which Average Market Price Shares were sold during the Pricing Period:        $34.875/$34.125
                                                                              
AVERAGE MARKET PRICE SHARES

Gross Proceeds to Company             $  1,378,125.00    Gross Proceeds to Agent       $  1,378,250.00

2.5% Discount                         $     34,453.13    Compensation to Agent         $     34,578.13

Net Proceeds to Company               $  1,343,671.88    Net Proceeds to Company       $  1,343,671.88  

ADDITIONAL SHARES SOLD

Gross Proceeds to Company             $  882,974.96

Commissions to Agent:                 $    2,560.00
SEC Fee:                              $       29.44

Net Proceeds to Company               $  880,385.52

                               --------------------------------------------
Total Net Proceeds to Company:        $  2,224,057.40     Total Compensation to Agent:   $   37,138.13

    Last reported sales price of the Common Stock on the NYSE on July 28, 1995 was $34.125 per share.


THESE  SECURITIES  HAVE NOT BEEN APPROVED OR DISAPPROVED BY THE SECURITIES AND
EXCHANGE COMMISSION OR ANY STATE SECURITIES  COMMISSION NOR HAS THE SECURITIES
AND EXCHANGE  COMMISSION OR ANY STATE  SECURITIES  COMMISSION  PASSED UPON THE
ACCURACY OF THE PROSPECTUS.  ANY  REPRESENTATION TO THE CONTRARY IS A CRIMINAL
OFFENSE.

          The date of this Prospectus Supplement is July 31, 1995