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                                                                      EXHIBIT 23
 
                        CONSENT OF INDEPENDENT AUDITORS
 
     We consent to the incorporation by reference in this Registration Statement
of our report on the financial statements and schedules included in the Annual
Report on Form 10-K of GATX Corporation for the year ended December 31, 1995.
 
                                        ERNST & YOUNG LLP
 
June 18, 1996
