0000007694-98-000026 4 1 19980131 19980209 NYSE ASHLAND INC 0000007694 2911 610122250 KY 0930 4 34 001-02918 98525716 1000 ASHLAND DRIVE RUSSELL KY 41169 6063293333 P O BOX 391 ASHLAND KY 41101 ASHLAND OIL INC 19920703 ASHLAND OIL & REFINING CO 19700806 JACKSON MANNIE L 0001026050 DIRECTOR KY 0930 4 ONE ARIZONA CENTER 400 EAST VAN BUREN STREET SUITE 300 NEW YORK NY 10111-0242 6063293333 ALFRED P SLOAN FOUNDATION 630 FIFTH AVENUE SUITE 2550 NEW YORK NY 10111-0242 4 1 000000769498000026-001-seq1-4.txt FORM 4 - JANUARY 31, 1998