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
Quin, J. Marvin
P.O. Box 391
50 E. RiverCenter Boulevard
Covington, Kentucky 41012-0391
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
September 30, 1999
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)
Chief Financial Officer;Senior Vice President
7. Individual or Joint/Group Filing (Check Applicable Line)
(X) 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 | | | | | | |6,642 (1) |I |By Trustee |
- -----------------------------------------------------------------------------------------------------------------------------------|
Common Stock |9-21-9|I (2| |2,792 |A |$35.8125 |8,725 (3) |I |By Trustee |
|9 |) | | | | | | | |
- -----------------------------------------------------------------------------------------------------------------------------------|
Common Stock | | | | | | |22,639 |D | |
- -----------------------------------------------------------------------------------------------------------------------------------|
___________________________________________________________________________________________________________________________________|
___________________________________________________________________________________________________________________________________
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)| |
___________________________________________________________________________________________________________________________________|
Option (4) |41.00 | | | | | |9-21-|10-21|Common Stock|1,250 | |1,250 |D | |
| | | | | | |90 |-99 | | | | | | |
- -----------------------------------------------------------------------------------------------------------------------------------|
|41.00 | | | | | |9-21-|10-21|Common Stock|625 | |625 |D | |
| | | | | | |91 |-99 | | | | | | |
- -----------------------------------------------------------------------------------------------------------------------------------|
|41.00 | | | | | |9-21-|10-21|Common Stock|625 | |625 |D | |
| | | | | | |92 |-99 | | | | | | |
- -----------------------------------------------------------------------------------------------------------------------------------|
Option (5) |35.875 | | | | | |9-15-|10-15|Common Stock|12,500 | |12,500 |D | |
| | | | | | |95 |-04 | | | | | | |
- -----------------------------------------------------------------------------------------------------------------------------------|
|35.875 | | | | | |9-15-|10-15|Common Stock|6,250 | |6,250 |D | |
| | | | | | |96 |-04 | | | | | | |
- -----------------------------------------------------------------------------------------------------------------------------------|
|35.875 | | | | | |9-15-|10-15|Common Stock|6,250 | |6,250 |D | |
| | | | | | |97 |-04 | | | | | | |
- -----------------------------------------------------------------------------------------------------------------------------------|
Option (5) |33.875 | | | | | |9-21-|10-21|Common Stock|12,500 | |12,500 |D | |
| | | | | | |96 |-05 | | | | | | |
- -----------------------------------------------------------------------------------------------------------------------------------|
|33.875 | | | | | |9-21-|10-21|Common Stock|6,250 | |6,250 |D | |
| | | | | | |97 |-05 | | | | | | |
- -----------------------------------------------------------------------------------------------------------------------------------|
|33.875 | | | | | |9-21-|10-21|Common Stock|6,250 | |6,250 |D | |
| | | | | | |98 |-05 | | | | | | |
- -----------------------------------------------------------------------------------------------------------------------------------|
Option (5) |39.00 | | | | | |9-19-|10-19|Common Stock|12,500 | |12,500 |D | |
| | | | | | |97 |-06 | | | | | | |
- -----------------------------------------------------------------------------------------------------------------------------------|
|39.00 | | | | | |9-19-|10-19|Common Stock|6,250 | |6,250 |D | |
| | | | | | |98 |-06 | | | | | | |
- -----------------------------------------------------------------------------------------------------------------------------------|
|39.00 | | | | | |9-19-|10-19|Common Stock|6,250 | |6,250 |D | |
| | | | | | |99 |-06 | | | | | | |
- -----------------------------------------------------------------------------------------------------------------------------------|
Option (6) |53.375 | | | | | |9-18-|10-18|Common Stock|5,000 | |5,000 |D | |
| | | | | | |99 |-07 | | | | | | |
- -----------------------------------------------------------------------------------------------------------------------------------|
|53.375 | | | | | |9-18-|10-18|Common Stock|5,000 | |5,000 |D | |
| | | | | | |00 |-07 | | | | | | |
- -----------------------------------------------------------------------------------------------------------------------------------|
Option (7) |53.375 | | | | | |9-18-|10-18|Common Stock|5,000 | |5,000 |I |By Daughter |
| | | | | | |98 |-07 | | | | | | |
- -----------------------------------------------------------------------------------------------------------------------------------|
Option (8) |53.375 | | | | | |9-18-|10-18|Common Stock|5,000 | |5,000 |I |By Son |
| | | | | | |98 |-07 | | | | | | |
- -----------------------------------------------------------------------------------------------------------------------------------|
Option (9) |48.00 | | | | | |9-17-|10-17|Common Stock|7,500 | |7,500 |D | |
| | | | | | |99 |-08 | | | | | | |
- -----------------------------------------------------------------------------------------------------------------------------------|
|48.00 | | | | | |9-17-|10-17|Common Stock|3,750 | |3,750 |D | |
| | | | | | |00 |-08 | | | | | | |
- -----------------------------------------------------------------------------------------------------------------------------------|
|48.00 | | | | | |9-17-|10-17|Common Stock|3,750 | |3,750 |D | |
| | | | | | |01 |-08 | | | | | | |
- -----------------------------------------------------------------------------------------------------------------------------------|
Common Stock Units (10|1-for-1 |(10) |J | |176 |A | | |Common Stock|176 |(10) |11,345 |D | |
) | | | | | | | | | | | | | | |
- -----------------------------------------------------------------------------------------------------------------------------------|
| | | | | | | | | | | | | | |
___________________________________________________________________________________________________________________________________|
Explanation of Responses:
1. Shares accrued under Ashland's Leveraged Employee Stock Ownership Plan as
of 3-31-96, the date of the final allocation to this account.
2. Intraplan transfer in Ashland's Employee Savings
Plan.
3. Based on Employee Savings Plan information as of 9-21-99, the latest date
for which such information is reasonably available, and includes
transactions occurring on or after
5-25-99.
4. 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.
5. 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.
6. Employee stock option (represents a right to buy Ashland Common Stock)
granted pursuant to Ashland's 1997 Stock Incentive Plan. The employee
stock option includes a tax withholding feature pursuant to the
plan.
7. I hereby disclaim beneficial ownership of all securities owned by my
daughter, Elizabeth Quin.
8. I hereby disclaim beneficial ownership of all securties owned by my son,
William Quin.
9. Employee stock option (represents a right to buy Ashland Common Stock)
granted pursuant to Ashland's 1997 Stock Incentive Plan. The employee
stock option includes a tax withholding feature pursuant to the
plan.
10. Common Stock Units acquired pursuant to Ashland's 1995 Deferred
Compensation Plan as of 8-31-99, the latest date for which such information
is reasonably available and includes transactions occurring on or after
4-30-99, 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 $38.00 - $43.313.
SIGNATURE OF REPORTING PERSON
J. Marvin Quin
DATE
September 24,1999
