Filed under Rule 424(b)(2)
                                       Registration No. 33-51613


PRICING SUPPLEMENT NO. 7  DATED June 15, 1995
(To Prospectus Dated June 14, 1994 and Prospectus Supplement
Dated June 14, 1994)



               U.S. $ 10,000,000  Principal Amount

                 CARPENTER TECHNOLOGY CORPORATION

                   Medium-Term Notes, Series A


       Due from Nine Months to 30 Years from Date of Issue


Issue Date: June 19, 1995

Maturity Date: June 19, 2002


By Agency Transaction:

     Public Offering Price (%): U.S. $ 10,000,000 (100%)

     Proceeds to Company (%): U.S. $ 9,945,000 (99.45%)

     Distributor's Commission (%): U.S. $ 55,000 (0.55%)


Original Issue Discount Security:  Yes_____  No:  X

Fixed Rate of Interest: Six and 78/100 percent (6.78%) per
annum

Interest Payment Date(s): January 15 and July 15

Regular Record Date(s):  January 1 and July 1

Name of Distributors:    CS First Boston Corporation
                         and J. P. Morgan Securities, Inc.