SECURITIES AND EXCHANGE COMMISSION
                                    
                         WASHINGTON, D.C.  20549
                                    
                                FORM 8-K
                                    
                             CURRENT REPORT
                 Pursuant to Section 13 or 15(d) of the
                     Securities Exchange Act of 1934
                                    
                                    
              Date of report (Date of earliest event reported):
                           September 27, 1994
                                    
                  KANSAS CITY SOUTHERN INDUSTRIES. INC.            
      (Exact name of registrant as specified in its charter)      



    DELAWARE                  1-4717              44-0663509   
(State or other juris-   (Commission file       (IRS Employer 
diction of incorporation)     number)       Identification number)

           114 West 11th Street, Kansas City, Missouri  64105
             (Address of principal executive offices)  (Zip Code)
                                    
           Reqistrant's telephone number, including area code:
                             (816) 556-0303
                                    
                                   N/A
      (Former name or former address if changed since last report)
<PAGE>
Item 5. Other Events.

On September 27, 1994, Kansas City Southern Industries, Inc.'s ("the
Registrant's") wholly-owned subsidiary, DST Systems, Inc. together with Kemper
Financial Services, Inc. ("Kemper"), entered into a definitive agreement ("the
Agreement") with State Street Boston Corporation ("State Street") for the sale
to State Street of IFTC Holdings, Inc. ("Holdings"), which wholly owns
Investors Fiduciary Trust Company ("IFTC").  Under the Agreement, State Street
is to issue approximately 5.6 million shares of its common stock to DST and
Kemper in exchange for all of the outstanding stock of Holdings.  The actual
amount of stock to be received at closing is dependent upon a formula set
forth in the definitive agreement.  DST and Kemper each own 50% of Holdings. 
The closing of the sale of Holdings is subject to several conditions including
regulatory approval.  The press release of the Registrant dated September 27,
1994 is also filed herewith as Exhibit 99.1.


Item 7.  Financial Statements and Exhibits



  (c)   Exhibits.

        Exhibit No.                Document

       (99)              Additional Exhibits

        99.1             Press Release, dated September 27, 1994

        


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 hereunto duly authorized.

                         Kansas City Southern Industries, Inc.

Date:  October 6, 1994      By:    /s/ Louis G. Van Horn

                               Louis G. Van Horn
                               Comptroller
                         (Principal Accounting Officer)





Exhibit Index


Exhibit No.                     Document                Page No.


  99.1            Press Release, dated September 27, 1994   2
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{"company-data": {"conformed-name": "KANSAS CITY SOUTHERN INDUSTRIES INC", "cik": "0000054480", "assigned-sic": "4011", "irs-number": "440663509", "state-of-incorporation": "DE", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "001-04717", "film-number": "94551914"}, "business-address": {"street1": "114 W 11TH ST", "city": "KANSAS CITY", "state": "MO", "zip": "64105", "phone": "8165560303"}, "mail-address": {"street1": "114 WEST 11TH STREET", "city": "KANSAS CITY", "state": "MO", "zip": "64105"}}
SECURITIES AND EXCHANGE COMMISSION
                                    
                         WASHINGTON, D.C.  20549
                                    
                                FORM 8-K
                                    
                             CURRENT REPORT
                 Pursuant to Section 13 or 15(d) of the
                     Securities Exchange Act of 1934
                                    
                                    
              Date of report (Date of earliest event reported):
                           September 27, 1994
                                    
                  KANSAS CITY SOUTHERN INDUSTRIES. INC.            
      (Exact name of registrant as specified in its charter)      

    DELAWARE                  1-4717              44-0663509   
(State or other juris-   (Commission file       (IRS Employer 
diction of incorporation)     number)       Identification number)

           114 West 11th Street, Kansas City, Missouri  64105
             (Address of principal executive offices)  (Zip Code)
                                    
           Reqistrant's telephone number, including area code:
                             (816) 556-0303
                                    
                                   N/A
      (Former name or former address if changed since last report)
Item 5. Other Events.

On September 27, 1994, Kansas City Southern Industries, Inc.'s ("the
Registrant's") wholly-owned subsidiary, DST Systems, Inc. together with Kemper
Financial Services, Inc. ("Kemper"), entered into a definitive agreement ("the
Agreement") with State Street Boston Corporation ("State Street") for the sale
to State Street of IFTC Holdings, Inc. ("Holdings"), which wholly owns
Investors Fiduciary Trust Company ("IFTC").  Under the Agreement, State Street
is to issue approximately 5.6 million shares of its common stock to DST and
Kemper in exchange for all of the outstanding stock of Holdings.  The actual
amount of stock to be received at closing is dependent upon a formula set
forth in the definitive agreement.  DST and Kemper each own 50% of Holdings. 
The closing of the sale of Holdings is subject to several conditions including
regulatory approval.  The press release of the Registrant dated September 27,
1994 is also filed herewith as Exhibit 99.1.

Item 7.  Financial Statements and Exhibits

  (c)   Exhibits.

        Exhibit No.                Document

       (99)              Additional Exhibits

        99.1             Press Release, dated September 27, 1994

        

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 hereunto duly authorized.

                         Kansas City Southern Industries, Inc.

Date:  October 6, 1994      By:    /s/ Louis G. Van Horn

                               Louis G. Van Horn
                               Comptroller
                         (Principal Accounting Officer)

Exhibit Index

Exhibit No.                     Document                Page No.

  99.1            Press Release, dated September 27, 1994   2