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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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 v9kqcE6kDY10PNUKgNFuFg==

<SEC-DOCUMENT>0000017843-98-000034.txt : 19980428
<SEC-HEADER>0000017843-98-000034.hdr.sgml : 19980428
ACCESSION NUMBER:		0000017843-98-000034
CONFORMED SUBMISSION TYPE:	424B3
PUBLIC DOCUMENT COUNT:		2
FILED AS OF DATE:		19980427
SROS:			NYSE

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			CARPENTER TECHNOLOGY CORP
		CENTRAL INDEX KEY:			0000017843
		STANDARD INDUSTRIAL CLASSIFICATION:	STEEL WORKS, BLAST FURNACES  ROLLING MILLS (COKE OVENS) [3312]
		IRS NUMBER:				230458500
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			0630

	FILING VALUES:
		FORM TYPE:		424B3
		SEC ACT:		
		SEC FILE NUMBER:	333-44757
		FILM NUMBER:		98601955

	BUSINESS ADDRESS:	
		STREET 1:		101 WEST BERN ST
		CITY:			READING
		STATE:			PA
		ZIP:			19601
		BUSINESS PHONE:		2152082000

	MAIL ADDRESS:	
		STREET 1:		101 WEST BERN ST
		CITY:			READING
		STATE:			PA
		ZIP:			19601
</SEC-HEADER>
<DOCUMENT>
<TYPE>424B3
<SEQUENCE>1
<DESCRIPTION>PRICING SUPPLEMENT #17
<TEXT>

Pricing Supplement No. 17 Dated April 27, 1998     Rule 424 (b) (3)
(To Prospectus dated February 13, 1998 and     File No. 333-44757
Prospectus Supplement dated March 31, 1998)
                 CARPENTER TECHNOLOGY CORPORATION
                 Medium-Term Notes  -  Fixed Rate
- -------------------------------------------------------------------------------
Principal Amount: $5,000,000  Interest Rate: 6.99%   

Issued Price:$4,968,050 (99.361%) 

Agent's Discount Commission:  $37,500 (.75%)  Original Issue Date:  4/20/98

Date from Which Interest Accrues:  4/20/98   Stated Maturity Date:  4/20/2018

Proceeds to Issuer:  $4,930,550 (98.611%) plus Accrued Interest: $8,737.50

Total Proceeds to Issuer:  $4,939,287.50
- -------------------------------------------------------------------------------

Interest Payment Dates:  April 15 and October 15

Redemption:

  X  The Notes cannot be redeemed prior to the Stated Maturity Date.
 ---
     The Notes may be redeemed prior to the Stated Maturity Date.
 ---
     Initial Redemption Date:
     Initial Redemption Percentage:
     Annual Redemption Percentage Reduction:           % until Redemption
                                                 -----
     percentage is 100% of the principal amount.

Optional Repayment:
  X  The Notes cannot be repaid prior to the Stated Maturity Date.
 ---
     The Notes can be repaid prior to the Stated Maturity Date at the option
 ---
     of the Holder of the Notes.
     Optional Repayment Dates:
     Repayment Price:         %

Currency:
     Specified Currency:
     (If other than U.S. Dollars, see attached)
     Minimum Denominations:
     (Applicable only if Specified Currency is other than U.S. Dollars)

Original Issue Discount ("OID"):        Yes        X   No
                                    ---           ---
     Total Amount of OID:
     Yield to Maturity:
     Initial Accrual Period:

Form:      X   Book-Entry          Certificated
          ---                  ---

Agent:     X    J. P. Morgan Securities Inc.
          ---
               Credit Suisse First Boston Corporation
          ---

Agent acting in the capacity as indicated below:
      X   Agent               Principal
     ---                 ---

If as principal:
          The Notes are being offered at varying prices related to prevailing
      ---
          market prices at the time of resale.
          The Notes are being offered at a fixed initial public offering price
      ---
          of         % of principal amount.
             -------

If as Agent:
     The Notes are being offered at a fixed initial public offering price of
     100% of Principal Amount.
     ---

Exchange Rate Agent:

Other Provisions:  See attached Addendum

</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99
<SEQUENCE>2
<DESCRIPTION>ADDENDUM TO PRICING SUPPLEMENT
<TEXT>

                ADDENDUM TO PRICING SUPPLEMENT FOR

                 CARPENTER TECHNOLOGY CORPORATION

            6.99% MEDIUM TERM NOTES, DUE APRIL 20, 2018


CUSIP No. 14428TBA8
          ---------

Interest payable to:

     The Depository Trust Company
     P.O. Box 20
     Bowling Green Station
     New York, N.Y.  10004

Deliver Notes to:

     The Depository Trust Company
     55 Water Street
     Interface/Underwriting Department
     1st Floor South
     New York, N.Y.  10041

Registered Owner:

     Cede & Company
     P.O. Box 20
     Bowling Green Station
     New York, N.Y.  10004

     Taxpayer ID No.

           13-2555119


Confirmed for Carpenter Technology Corporation


By:  /S/G. Walton Cottrell
     -----------------------------------
     G. Walton Cottrell
     Senior Vice President - Finance and
     Chief Financial Officer

</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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