
                                                                    EXHIBIT 23.4

                        CONSENT OF INDEPENDENT AUDITORS

We consent to the  reference to our firm under the caption  "Experts" and to the
use  of  our  report   dated   January   19,   1996,   included   in  the  Proxy
Statement/Prospectus  that is made a part of the  Registration  Statement  (Form
S-4) of Emerson  Electric Co. for the registration of shares of its common stock
relating to the proposed merger of a wholly-owned subsidiary of Emerson Electric
Co. with and into Lipe-Rollway Corporation.

                                        /s/ Ernst & Young LLP
                                        Ernst & Young LLP
Syracuse, New York
July 25, 1996
