UNITED STATES SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 4
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
( ) Check this box if no longer subject to Section 16.
Form 4 or Form 5 obligations may continue. See Instructions 1(b).
1. Name and Address of Reporting Person
   Potts, Charles F.
   
   Tower Place - Suite 600
   3340 Peachtree Road
   Atlanta, Georgia  30326
2. Issuer Name and Ticker or Trading Symbol
   Ashland Inc.
   ASH
3. IRS or Social Security Number of Reporting Person (Voluntary)
   ###-##-####
4. Statement for Month/Year
   December 1996
5. If Amendment, Date of Original (Month/Year)
   
6. Relationship of Reporting Person(s) to Issuer (Check all applicable)
   ( ) Director ( ) 10% Owner (X) Officer (give title below) ( ) Other
   (specify below)
   Senior Vice President
7. Individual or Joint/Group Filing (Check Applicable Line)
   ( ) Form filed by One Reporting Person
   ( ) Form filed by More than One Reporting Person
___________________________________________________________________________________________________________________________________ Table I -- Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned | ___________________________________________________________________________________________________________________________________| 1. Title of Security |2. |3. |4.Securities Acquired (A) |5.Amount of |6.Dir |7.Nature of Indirect | | Transaction | or Disposed of (D) | Securities |ect | Beneficial Ownership | | | | | Beneficially |(D)or | | | | | | | A/| | Owned at |Indir | | | Date |Code|V| Amount | D | Price | End of Month |ect(I)| | ___________________________________________________________________________________________________________________________________| Common Stock | | | | | | |4,736 (1) |I |By Trustee | - -----------------------------------------------------------------------------------------------------------------------------------| Common Stock | | | | | | |1,148 (2) |I |By Trustee | - -----------------------------------------------------------------------------------------------------------------------------------| ___________________________________________________________________________________________________________________________________| ___________________________________________________________________________________________________________________________________ Table II -- Derivative Securitites Acquired, Disposed of, or Beneficially Owned | ___________________________________________________________________________________________________________________________________| 1.Title of Derivative |2.Con- |3. |4. |5.Number of De |6.Date Exer|7.Title and Amount |8.Price|9.Number |10.|11.Nature of| Security |version |Transaction | rivative Secu |cisable and| of Underlying |of Deri|of Deriva |Dir|Indirect | |or Exer | | | rities Acqui |Expiration | Securities |vative |tive |ect|Beneficial | |cise | | | red(A) or Dis |Date(Month/| |Secu |Securities |(D)|Ownership | |Price of| | | posed of(D) |Day/Year) | |rity |Benefi |or | | |Deriva- | | | |Date |Expir| | |ficially |Ind| | |tive | | | | A/|Exer-|ation| Title and Number | |Owned at |ire| | |Secu- | | | | | D |cisa-|Date | of Shares | |End of |ct | | |rity |Date |Code|V| Amount | |ble | | | |Month |(I)| | ___________________________________________________________________________________________________________________________________| Common Stock Units (3)| | |J | |4,073 |A | | |Common Stock|7,222 | |7,222 |D | | | | | | | | | | | Units | | | | | | - -----------------------------------------------------------------------------------------------------------------------------------| Option (4) |33.375 | | | | | |9-17-|10-17|Common Stock|500 | |500 |D | | | | | | | | |88 |-97 | | | | | | | - -----------------------------------------------------------------------------------------------------------------------------------| |33.875 | | | | | |9-17-|10-17|Common Stock|250 | |250 |D | | | | | | | | |89 |-97 | | | | | | | - -----------------------------------------------------------------------------------------------------------------------------------| |33.875 | | | | | |9-17-|10-17|Common Stock|250 | |250 |D | | | | | | | | |90 |-97 | | | | | | | - -----------------------------------------------------------------------------------------------------------------------------------| Option (4) |35.625 | | | | | |9-15-|10-15|Common Stock|750 | |750 |D | | | | | | | | |89 |-98 | | | | | | | - -----------------------------------------------------------------------------------------------------------------------------------| |35.625 | | | | | |9-15-|10-15|Common Stock|375 | |375 |D | | | | | | | | |90 |-98 | | | | | | | - -----------------------------------------------------------------------------------------------------------------------------------| |35.625 | | | | | |9-15-|10-15|Common Stock|375 | |375 |D | | | | | | | | |91 |-98 | | | | | | | - -----------------------------------------------------------------------------------------------------------------------------------| Option (5) |41.00 | | | | | |9-21-|10-21|Common Stock|750 | |750 |D | | | | | | | | |90 |-99 | | | | | | | - -----------------------------------------------------------------------------------------------------------------------------------| |41.00 | | | | | |9-21-|10-21|Common Stock|375 | |375 |D | | | | | | | | |91 |-99 | | | | | | | - -----------------------------------------------------------------------------------------------------------------------------------| |41.00 | | | | | |9-21-|10-21|Common Stock|375 | |375 |D | | | | | | | | |92 |-99 | | | | | | | - -----------------------------------------------------------------------------------------------------------------------------------| Option (5) |30.75 | | | | | |9-20-|10-20|Common Stock|2,000 | |2,000 |D | | | | | | | | |91 |-00 | | | | | | | - -----------------------------------------------------------------------------------------------------------------------------------| |30.75 | | | | | |9-20-|10-20|Common Stock|1,000 | |1,000 |D | | | | | | | | |92 |-00 | | | | | | | - -----------------------------------------------------------------------------------------------------------------------------------| |30.75 | | | | | |9-20-|10-20|Common Stock|1,000 | |1,000 |D | | | | | | | | |93 |-00 | | | | | | | - -----------------------------------------------------------------------------------------------------------------------------------| Option (5) |30.50 | | | | | |9-19-|10-19|Common Stock|2,000 | |2,000 |D | | | | | | | | |92 |-01 | | | | | | | - -----------------------------------------------------------------------------------------------------------------------------------| |30.50 | | | | | |9-19-|10-19|Common Stock|1,000 | |1,000 |D | | | | | | | | |93 |-01 | | | | | | | - -----------------------------------------------------------------------------------------------------------------------------------| |30.50 | | | | | |9-19-|10-19|Common Stock|1,000 | |1,000 |D | | | | | | | | |94 |-01 | | | | | | | - -----------------------------------------------------------------------------------------------------------------------------------| Option (5) |23.875 | | | | | |9-21-|10-21|Common Stock|5,000 | |5,000 |D | | | | | | | | |93 |-02 | | | | | | | - -----------------------------------------------------------------------------------------------------------------------------------| |23.875 | | | | | |9-21-|10-21|Common Stock|2,500 | |2,500 |D | | | | | | | | |94 |-02 | | | | | | | - -----------------------------------------------------------------------------------------------------------------------------------| |23.875 | | | | | |9-21-|10-21|Common Stock|2,500 | |2,500 |D | | | | | | | | |95 |-02 | | | | | | | - -----------------------------------------------------------------------------------------------------------------------------------| Option (5) |33.125 | | | | | |9-16-|10-16|Common Stock|5,000 | |5,000 |D | | | | | | | | |94 |-03 | | | | | | | - -----------------------------------------------------------------------------------------------------------------------------------| |33.125 | | | | | |9-16-|10-16|Common Stock|2,500 | |2,500 |D | | | | | | | | |95 |-03 | | | | | | | - -----------------------------------------------------------------------------------------------------------------------------------| |33.125 | | | | | |9-16-|10-16|Common Stock|2,500 | |2,500 |D | | | | | | | | |96 |-03 | | | | | | | - -----------------------------------------------------------------------------------------------------------------------------------| Option (6) |35.875 | | | | | |9-15-|10-15|Common Stock|5,000 | |5,000 |D | | | | | | | | |95 |-04 | | | | | | | - -----------------------------------------------------------------------------------------------------------------------------------| |35.875 | | | | | |9-15-|10-15|Common Stock|2,500 | |2,500 |D | | | | | | | | |96 |-04 | | | | | | | - -----------------------------------------------------------------------------------------------------------------------------------| |35.875 | | | | | |9-15-|10-15|Common Stock|2,500 | |2,500 |D | | | | | | | | |97 |-04 | | | | | | | - -----------------------------------------------------------------------------------------------------------------------------------| Option (6) |33.875 | | | | | |9-21-|10-21|Common Stock|5,000 | |5,000 |D | | | | | | | | |96 |-05 | | | | | | | - -----------------------------------------------------------------------------------------------------------------------------------| |33.875 | | | | | |9-21-|10-21|Common Stock|2,500 | |2,500 |D | | | | | | | | |97 |-05 | | | | | | | - -----------------------------------------------------------------------------------------------------------------------------------| |33.875 | | | | | |9-21-|10-21|Common Stock|2,500 | |2,500 |D | | | | | | | | |98 |-05 | | | | | | | - -----------------------------------------------------------------------------------------------------------------------------------| Option (6) |39.00 | | | | | |9-19-|10-19|Common Stock|5,000 | |5,000 |D | | | | | | | | |97 |-06 | | | | | | | - -----------------------------------------------------------------------------------------------------------------------------------| |39.00 | | | | | |9-19-|10-19|Common Stock|2,500 | |2,500 |D | | | | | | | | |98 |-06 | | | | | | | - -----------------------------------------------------------------------------------------------------------------------------------| |39.00 | | | | | |9-19-|10-19|Common Stock|2,500 | |2,500 |D | | | | | | | | |99 |-06 | | | | | | | - -----------------------------------------------------------------------------------------------------------------------------------| | | | | | | | | | | | | | | | ___________________________________________________________________________________________________________________________________|
Explanation of Responses: 1. Shares accrued for my account under Ashland's Leveraged Employee Stock Ownership Plan as of 3-31-96, the date of the final allocation to this account. 2. Based on Employee Savings Plan information as of 11-20-96, the latest date for which such information is reasonably available, and includes transactions occurring on or after 9-30-96. 3. Common Stock Units acquired pursuant to Ashland's 1995 Deferred Compensation Plan as of 11-12-96 and includes transactions occurring on or after 9-30-96, payable in cash or stock upon termination of service and exempt under Rule 16b-3(d). The price of the Common Stock Units on applicable valuation dates has varied from $39.567 - $42.375. 4. Employee stock option (represents a right to buy Ashland Common Stock) granted pursuant to Ashland's Amended Stock Incentive Plan. The employee stock option includes a tax withholding feature pursuant to the plan. 5. Employee stock option (represents a right to buy Ashland Common Stock) granted pursuant to Ashland's Long-Term Incentive Plan. The employee stock option includes a tax withholding feature pursuant to the plan. 6. Employee stock option (represents a right to buy Ashland Common Stock) granted pursuant to Ashland's 1993 Stock Incentive Plan. The employee stock option includes a tax withholding feature pursuant to the plan. SIGNATURE OF REPORTING PERSON Charles F. Potts DATE December 6, 1996