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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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MIC-Info: RSA-MD5,RSA,
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<SEC-DOCUMENT>0001196168-03-000046.txt : 20030617
<SEC-HEADER>0001196168-03-000046.hdr.sgml : 20030617
<ACCEPTANCE-DATETIME>20030617154533
ACCESSION NUMBER:		0001196168-03-000046
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20030617
FILED AS OF DATE:		20030617

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			MCGRAW HAROLD III
		CENTRAL INDEX KEY:			0001191761

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-01023
		FILM NUMBER:		03747380

	BUSINESS ADDRESS:	
		STREET 1:		1221 AVENUE OF THE AMERICAS
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10020
		BUSINESS PHONE:		2125122909

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			MCGRAW-HILL COMPANIES INC
		CENTRAL INDEX KEY:			0000064040
		STANDARD INDUSTRIAL CLASSIFICATION:	BOOKS: PUBLISHING OR PUBLISHING AND PRINTING [2731]
		IRS NUMBER:				131026995
		STATE OF INCORPORATION:			NY
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		1221 AVENUE OF THE AMERICAS
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10020
		BUSINESS PHONE:		2125122000

	MAIL ADDRESS:	
		STREET 1:		1221 AVENUE OF THE AMERICAS
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10020

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	MCGRAW HILL INC
		DATE OF NAME CHANGE:	19920703

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	MCGRAW PUBLISHING CO
		DATE OF NAME CHANGE:	19670327

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	HILL PUBLISHING CO
		DATE OF NAME CHANGE:	19670327
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>mcg85.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>
    <schemaVersion>X0101</schemaVersion>

    <documentType>4</documentType>
	<periodOfReport>2003-06-17</periodOfReport>
	<notSubjectToSection16>0</notSubjectToSection16>
    <issuer>
        <issuerCik>0000064040</issuerCik>
        <issuerName>MCGRAW-HILL COMPANIES INC</issuerName>
        <issuerTradingSymbol>MHP</issuerTradingSymbol>
	</issuer>
	<reportingOwner>
		<reportingOwnerId>
            <rptOwnerCik>0001191761</rptOwnerCik>
            <rptOwnerName>MCGRAW HAROLD III</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>  </rptOwnerStreet1>
            <rptOwnerStreet2>  </rptOwnerStreet2>
            <rptOwnerCity>  </rptOwnerCity>
            <rptOwnerState>  </rptOwnerState>
            <rptOwnerZipCode>  </rptOwnerZipCode>
        </reportingOwnerAddress>
            <reportingOwnerRelationship>
			<isDirector>1</isDirector>
			<isOfficer>1</isOfficer>
			<isTenPercentOwner>0</isTenPercentOwner>
			<isOther>0</isOther>
			<officerTitle>Chairman, President and CEO</officerTitle>
		</reportingOwnerRelationship>
	</reportingOwner>
	<nonDerivativeSecurity>
		<securityTitle>
			<value>Common Stock</value>
		</securityTitle>
		<transactionDate>
			<value>2003-06-17</value>
		</transactionDate>
		<transactionCoding>
			<transactionFormType>4</transactionFormType>
			<transactionCode>W</transactionCode>
			<equitySwapInvolved>0</equitySwapInvolved>
		</transactionCoding>
		<transactionAmounts>
			<transactionShares>
				<value>35000</value>
			</transactionShares>
			<transactionValue>
				<value>0</value>
			</transactionValue>
			<transactionAcquiredDisposedCode>
				<value>A</value>
			</transactionAcquiredDisposedCode>
		</transactionAmounts>
		<postTransactionAmounts>
			<sharesOwnedFollowingTransaction>
				<value>503746.0415</value>
				<footnoteId id="F1"/>
				<footnoteId id="F2"/>
			</sharesOwnedFollowingTransaction>
		</postTransactionAmounts>
		<ownershipNature>
			<directOrIndirectOwnership>
				<value>D</value>
			</directOrIndirectOwnership>
			<natureOfOwnership>
				<value/>
			</natureOfOwnership>
		</ownershipNature>
	</nonDerivativeSecurity>
	<footnotes>
		<footnote id="F1">Includes shares acquired under The McGraw-Hill Companies'  Dividend Reinvestment Plan and 47,015.7478 shares held by two minor children.</footnote>
		<footnote id="F2">Total Derivative Beneficial Holdings include  896,400 Options (Right to Buy).</footnote>
	</footnotes>
	<ownerSignature>
		<signatureName>/s/ McGraw, Harold III </signatureName>
		<signatureDate>2003-06-17</signatureDate>
	</ownerSignature>
</ownershipDocument>

</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----
