1


               SECURITIES AND EXCHANGE COMMISSION
                    WASHINGTON, D.C.  20549
                           FORM 10-Q
                                
/X/     QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d)
             OF THE SECURITIES EXCHANGE ACT OF 1934       
                                
         For the quarterly period ended March 31, 1996
                                
                               OR
                                
/ /     TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d)
             OF THE SECURITIES EXCHANGE ACT OF 1934
                                
                 COMMISSION FILE NUMBER 1-3295
                              --
                   MINERALS TECHNOLOGIES INC.
     (Exact name of registrant as specified in its charter)
                                                                  
          DELAWARE                               25-1190717
(State or other jurisdiction of                (I.R.S. Employer
incorporation or organization)               Identification No.)

      405 Lexington Avenue, New York, New York 10174-1901
  (Address of principal executive offices, including zip code)
                                
                         (212) 878-1800
      (Registrant's telephone number, including area code)
                                
Indicate by check mark whether the registrant (1) has filed all
reports required to be filed by Section 13 or 15(d) of the
Securities Exchange Act of 1934 during the preceding 12 months
(or for such shorter period that registrant was required to file
such reports) and (2) has been subject to such filing
requirements for the past 90 days.

           YES      X               NO              
                  -----                  -----                       

Indicate the number of shares outstanding of each of the issuer's
classes of common stock, as of the latest practicable date.

        CLASS                       OUTSTANDING AT April 26, 1996
Common Stock, $.10 par value                  22,631,427


 2


                MINERALS TECHNOLOGIES INC.
                   INDEX TO FORM 10-Q

                                                        Page No.
PART I.    FINANCIAL INFORMATION

Item 1.

   Financial Statements:

   Condensed Consolidated Statement of Income for
   the three-month periods ended March 31, 1996 and 
   April 2, 1995                                          3

   Condensed Consolidated Balance Sheet as of 
   March 31, 1996 and December 31, 1995                   4

   Condensed Consolidated Statement of Cash Flows 
   for the three-month periods ended March 31, 1996 
   and April 2, 1995                                      5

   Notes to Condensed Consolidated Financial Statements   6
   
   Independent Auditors' Report                           7

Item 2.

   Management's Discussion and Analysis of Financial 
   Condition and Results of Operations                    8

PART II.   OTHER INFORMATION

Item 1.

   Legal Proceedings                                      9

Item 6.

   Exhibits and Reports on Form 8-K                       9

   Signature                                             10

                              2

 3


PART I.   FINANCIAL INFORMATION

ITEM 1.   FINANCIAL STATEMENTS

      MINERALS TECHNOLOGIES INC. AND SUBSIDIARY COMPANIES
           CONDENSED CONSOLIDATED STATEMENT OF INCOME
                        (Unaudited)

                                          Three Months Ended  
                                         ---------------------
                                         March 31,    April 2,
(thousands of dollars,                     1996         1995 
except per share data)                     ----         ----

Net sales                                $128,109     $120,205 
Operating costs and expenses:
   Cost of goods sold                      93,077       85,686 
   Marketing, distribution and
   administrative expenses                 17,100       16,353
   Research and development expenses        4,831        4,755 
                                           ------       ------
Income from operations                     13,101       13,411

Non-operating items:
   Other income                                77        1,889
   Other deductions                          (865)      (1,548)
                                            ------      ------ 
Non-operating (deductions) income, net       (788)         341
                                            ------      ------  
Income before provision for taxes
   on income and minority interests        12,313       13,752
Provision for taxes on income               4,000        4,642 
Minority interests                           (234)          96 
                                            ------      ------

Net income                                $ 8,547      $ 9,014 
                                          =======      =======
    
Earnings per common share                 $  0.38      $  0.40 
                                          =======      =======

Cash dividends declared per common share  $ 0.025      $ 0.025 
                                          =======      =======

Weighted average number of common shares
  outstanding                             22,637       22,615
                                          ======       ======

See accompanying Notes to Condensed Consolidated Financial
Statements.

                              3

 4


      MINERALS TECHNOLOGIES INC. AND SUBSIDIARY COMPANIES
             CONDENSED CONSOLIDATED BALANCE SHEET

                             ASSETS

(thousands of dollars)                  March 31,    December 31,
                                          1996*        1995**
                                          -----        ------
Current assets:
   Cash and cash equivalents            $ 12,860     $ 11,318
   Accounts receivable, net               98,734      100,473
   Inventories                            65,163       64,637
   Other current assets                   11,683        5,997
                                          ------      -------
      Total current assets               188,440      182,425
Property, plant and equipment, less 
   accumulated depreciation and depletion 
   - March 31, 1996 - $284,348;
   Dec. 31, 1995 - $275,665              476,357      455,809
Other assets and deferred charges         12,509       10,910
                                         -------      -------
      Total assets                      $677,306     $649,144
                                        ========     ========


             LIABILITIES AND SHAREHOLDERS' EQUITY

Current liabilities:
   Short-term debt                      $ 44,675     $ 14,890
   Current maturities of long-term debt   13,000       13,000
   Accounts payable                       30,381       30,405
   Other current liabilities              31,011       37,384
                                         -------      -------
      Total current liabilities          119,067       95,679
Long-term debt                            67,900       67,927
Accrued postretirement benefits           20,230       20,230
Deferred taxes on income                  38,290       37,064
Other noncurrent liabilities              11,724       12,091
                                         -------      -------
      Total liabilities                  257,211      232,991

Shareholders' equity:
   Preferred stock                          --           --   
   Common stock                            2,517        2,515
   Additional paid-in capital            133,566      133,221
   Retained earnings                     331,356      323,375
   Currency translation adjustment        13,811       16,931
   Unrealized holding gains                  138          111
                                         -------      -------
                                         481,388      476,153
   Less common stock held in treasury, 
   at cost                                61,293       60,000
      Total shareholders' equity         420,095      416,153
                                         -------      -------

      Total liabilities and shareholders' 
      equity                            $677,306     $649,144
                                        ========     ========

*  Unaudited
** Condensed from audited financial statements.

See accompanying Notes to Condensed Consolidated Financial 
Statements.

                              4

 5


        MINERALS TECHNOLOGIES INC. AND SUBSIDIARY COMPANIES
          CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS
                          (Unaudited)
                                           Three Months Ended
                                           -------------------
(thousands of dollars)                     March 31,  April 2,
                                             1996       1995
                                             ----       ----
Operating Activities

Net income                                 $  8,547   $  9,014 
Adjustments to reconcile net income to 
net cash provided by operating activities:
   Depreciation and depletion                10,702      9,184 
   Deferred income taxes                      1,200      1,644 
   Other non-cash items                          77       (298)
   Net changes in operating assets 
   and liabilities                          (12,758)    (6,317)
                                            -------     ------
Net cash provided by operating activities     7,768     13,227 
                                            -------     ------
Investing Activities

Purchases of property, plant and equipment  (33,851)   (22,162)
Other investing activities, net                  31       --  
                                            -------    -------
Net cash used in investing activities       (33,820)   (22,162)
                                            -------    -------

Financing Activities

Increase in short-term debt                  29,785        --   
Purchase of common shares for treasury       (1,293)       --   
Dividends paid                                 (566)      (566)
Other financing activities, net                 347        795 
                                             ------      -----
Net cash provided by financing activities    28,273        229
                                             ------      -----

Effect of exchange rate changes on cash 
and cash equivalents                           (679)       474   
                                             ------      -----

Net increase (decrease) in cash and 
cash equivalents                              1,542     (8,232) 
Cash and cash equivalents at beginning 
of period                                    11,318     56,240 
                                             ------     ------
Cash and cash equivalents at end of period $ 12,860   $ 48,008
                                           ========   ========

Interest paid                              $    818   $    582 
                                           ========   ========

Income taxes paid                          $  1,526   $  1,367 
                                           ========   ========

See accompanying Notes to Condensed Consolidated Financial
Statements.

                              5

 6


       MINERALS TECHNOLOGIES INC. AND SUBSIDIARY COMPANIES 
      NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

Note 1 -- Basis of Presentation

   The accompanying unaudited condensed consolidated financial
statements have been prepared by management in accordance with
the rules and regulations of the United States Securities and
Exchange Commission. Accordingly, certain information and
footnote disclosures normally included in financial statements
prepared in accordance with generally accepted accounting
principles have been condensed or omitted.  Therefore, these
financial statements should be read in conjunction with the
consolidated financial statements and notes thereto contained in
the Company's Annual Report on Form 10-K for the year ended
December 31, 1995.  In the opinion of management, all
adjustments, consisting solely of normal recurring adjustments
necessary for a fair presentation of the financial information
for the periods indicated, have been included.  The results for
the three-month period ended March 31, 1996 are not necessarily
indicative of the results that may be expected for the year
ending December 31, 1996.


Note 2 -- Inventories

   The following is a summary of inventories by major category:

                                        March 31,  December 31,
   (thousands of dollars)                  1996       1995
                                           ----       ----
    Raw material                        $ 20,255   $ 17,919
    Work in process                        9,510      9,757
    Finished goods                        19,223     20,575
    Packaging and supplies                16,175     16,386
                                        --------   --------
    Total inventories                   $ 65,163   $ 64,637
                                        ========   ========


Note 3 -- Stock-Based Compensation

   The Company has adopted Statement of Financial Accounting
Standards (SFAS) No. 123, "Accounting for Stock-Based
Compensation," which requires expanded disclosures of stock-based
compensation arrangements with employees.  SFAS No. 123
establishes an alternative method of accounting for stock-based
compensation awarded to employees which provides for the
recognition of compensation cost to be measured based on the fair
value of the equity instrument awarded.  The Company, however,
has elected to continue to recognize compensation cost based on
the intrinsic value of the equity instrument awarded as
promulgated in Accounting Principles Board Opinion No. 25,
"Accounting for Stock Issued to Employees."  The Company will
disclose the required proforma effect of the fair value method on
net income and earnings per share in the 1996 annual financial
statements.

                              6

 7


                   INDEPENDENT AUDITORS' REPORT

The Board of Directors and Shareholders
Minerals Technologies Inc.:

   We have reviewed the condensed consolidated balance sheet of
Minerals Technologies Inc. and subsidiary companies as of March
31, 1996 and the related condensed consolidated statements of
income and cash flows for the three-month periods ended March 31,
1996 and April 2, 1995.  These financial statements are the
responsibility of the company's management. 

   We conducted our review in accordance with standards
established by the American Institute of Certified Public
Accountants.  A review of interim financial information consists
principally of applying analytical procedures to financial data
and making inquiries of persons responsible for financial and
accounting matters.  It is substantially less in scope than an
audit conducted in accordance with generally accepted auditing
standards, the objective of which is the expression of an opinion
regarding the financial statements taken as a whole. 
Accordingly, we do not express such an opinion.

   Based on our review, we are not aware of any material
modifications that should be made to the condensed consolidated
financial statements referred to above for them to be in
conformity with generally accepted accounting principles.

   We have previously audited, in accordance with generally
accepted auditing standards, the consolidated balance sheet of
Minerals Technologies Inc. and subsidiary companies as of
December 31, 1995, and the related consolidated statements of
income, shareholders' equity, and cash flows for the year then
ended (not presented herein); and in our report dated January 31,
1996, we expressed an unqualified opinion on those consolidated
financial statements.  In our opinion, the information set forth
in the accompanying condensed consolidated balance sheet as of
December 31, 1995 is fairly presented, in all material respects,
in relation to the consolidated balance sheet from which it has
been derived.                                                     

                                   /s/ KPMG Peat Marwick LLP

                                     KPMG Peat Marwick LLP


New York, New York
May  6, 1996

                              7

 8


ITEM 2.

Management's Discussion and Analysis of Financial Condition and
Results of Operations

                                      Income and Expense Items 
                                    As a Percentage of Net Sales 
                                    ----------------------------
                                         Three Months Ended
                                         ------------------
                                         March 31,  April 2,
                                          1996       1995  
                                          ----       ----
Net sales                                100.0%     100.0%
Cost of goods sold                        72.7       71.3
Marketing, distribution and 
administrative expenses                   13.3       13.6
Research and development expenses          3.8        3.9
                                         -----      ----- 
Income from operations                    10.2       11.2
Net income                                 6.7%       7.5%
                                         =====      =====


Results of Operations 

Three Months Ended March 31, 1996 as Compared with Three Months
Ended April 2, 1995  

   Net sales in the first quarter of 1996 increased 6.6% to 
$128.1 million from $120.2 million in the first quarter of 1995. 
Precipitated Calcium Carbonate (PCC) sales grew 7.9% to $58.5
million from $54.2 million in the first quarter of 1995. This
increase was primarily attributable to the commencement of
operations at four new satellite PCC plants since the first
quarter of 1995 and significant sales growth from one satellite
PCC plant which began operations late in the first quarter of
1995.  Net sales of other mineral products grew 3.1% in the first
quarter of 1996 to $20.2 million from $19.6 million in the
comparable quarter of 1995.  Net sales of refractory products
increased 6.5% to $49.4 million in the first quarter of 1996 from
$46.4 million in the first quarter of the prior year.  This
increase was primarily due to substantial growth in the calcium
and metallurgical wire product group.

   Net sales in the United States were 4.0% higher than in the
prior year's first quarter.  Foreign sales were 12.6% higher than
in the prior year, due primarily to the growth in the satellite
PCC product line.

   Income from operations declined 2.3% in the first quarter of
1996 to $13.1 million.  Operating income was negatively affected
by a paper industry slowdown created by lower demand and excess
inventory, severe weather conditions in the other mineral product
line and higher cost of sales in the refractory product line as a
result of significant increases in the price of magnesia.  In
addition, the Company absorbed higher expenses from PCC satellite
plant start-ups in the first quarter.

   Other income decreased by $1.8 million in 1996.  In the first
quarter of 1995, the Company recorded a significant non-recurring
foreign exchange gain while a small foreign exchange loss was
recorded in the current year.  In addition, interest income was
significantly higher in the prior year due to higher levels of
cash-on-hand.  Other deductions decreased due to higher
capitalized interest costs associated with the growth in capital
spending in the current year.

   Net income declined 5.2% to $8.5 million from $9.0 million in
the prior year.  Earnings per share were $0.38 in the first
quarter of 1996 as compared to $0.40 in the prior year.

                              8

 9


Liquidity and Capital Resources

   The Company's financial position remained strong in the first
quarter of 1996.  Cash flows in the first quarter were provided
from operations and short-term financing and were applied
principally to fund capital expenditures.  Cash provided from
operating activities amounted to $7.8 million in the first
quarter of 1996 as compared to $13.2 million in the prior year.

  The Company has available approximately $120 million in
uncommitted, short-term bank credit lines, of which $44.5 million
were in use at March 31, 1996.  The interest rate on these
borrowings was approximately 5.75%.  The Company anticipates
that capital expenditures for all of 1996 will be approximately
$100 million, principally related to the construction of
satellite PCC plants, expansion projects at existing satellite
PCC plants and at other mineral plants, and other opportunities
which meet the strategic growth objectives of the Company.  In
addition, payments of principal under the Company's Guarantied
Senior Notes due June 11, 2000 will commence during 1996 with a
required payment of $13 million.  The Company expects to meet
such requirements from internally generated funds, the
aforementioned uncommitted bank credit lines and, where
appropriate, project financing of certain satellite plants.


                  PART II.  OTHER INFORMATION

ITEM 1.   LEGAL PROCEEDINGS

   The Company and its subsidiaries are not party to any material
pending legal proceedings, other than ordinary routine litigation
incidental to their businesses.


ITEM 6.   EXHIBITS AND REPORTS ON FORM 8-K

   a) Exhibits:

      11 - Schedule re: Computation of earnings per common share
           (Part I Data).
      15 - Accountants' Acknowledgement (Part I Data).
      27 - Financial Data Schedule (submitted electronically to,
           but not filed with, the Securities and Exchange 
           Commission pursuant to Rule 402 of Regulation S-T).

   b) No reports on Form 8-K were filed during the first quarter 
      of 1996.

                              9

 10


                             SIGNATURE


   Pursuant to the requirements of the Securities Exchange Act of
1934, the registrant has duly caused this report to be signed on
its behalf by the undersigned thereunto duly authorized.


                                Minerals Technologies Inc.


                                By: /s/ John R. Stack             
                                    -------------------  
                                    John R. Stack
                                    Vice President-Finance and
                                    Chief Financial Officer



May 6, 1996


                              10
                                                 EXHIBIT 11

        SCHEDULE RE: COMPUTATION OF EARNINGS PER COMMON SHARE*
              (In thousands, except per share amounts)

                                       Three Months Ended
                                       -------------------
                                       March 31,  April 2,
                                         1996       1995
                                         ----       ---- 
PRIMARY

Net income                             $ 8,547    $ 9,014
                                       -------    -------

Weighted average shares outstanding     22,637     22,615
                                       -------    -------

Primary earnings per share *           $  0.38    $  0.40
                                       =======    =======

FULLY DILUTED

Net income                             $ 8,547    $ 9,014
                                       -------    -------

Weighted average shares outstanding     22,637     22,615

Add incremental shares representing:
   Shares issuable upon exercise of 
   stock options based on period-end 
   market price                            447        330
                                       -------    -------
Weighted average number of shares, 
as adjusted                             23,084     22,945
                                      --------    -------

Fully diluted earnings per share       $  0.37    $  0.39
                                      ========    =======

Dilutive effect of incremental shares     1.9%       1.4%
                                      ========    =======

*    Incremental shares have not been considered in the
computation of primary earnings per common share in accordance
with generally accepted accounting principles which require
inclusion only when the dilutive effect is greater than 3%.

                                                   EXHIBIT 15

                ACCOUNTANTS'  ACKNOWLEDGMENT


The Board of Directors
Minerals Technologies Inc.:

Re:  Registration Statement Nos. 33-59080, 33-65268 and 33-96558

   With respect to the subject registration statements, we
acknowledge our awareness of the use therein of our report dated
May 6, 1996, related to our review of interim financial
information.

   Pursuant to Rule 436(c) under the Securities Act of 1933, such
report is not considered a part of a registration statement
prepared or certified by an accountant or a report prepared or
certified by an accountant within the meaning of sections 7 and
11 of the Act.


                                        Very truly yours,


                                        /s/ KPMG Peat Marwick LLP
  
                                          KPMG Peat Marwick LLP


New York, New York
May 10, 1996
 

5 This schedule contains summary financial information extracted from the condensed consolidated financial statements of Minerals Technologies Inc., and is qualified in its entirety by reference to such condensed consolidated financial statements. 1,000 3-MOS DEC-31-1996 MAR-31-1996 12,860 0 98,734 0 65,163 188,440 760,705 284,348 677,306 119,067 67,900 0 0 2,517 464,922 677,306 128,109 128,109 93,077 93,077 4,831 0 0 12,313 4,000 8,547 0 0 0 8,547 0.38 0