EXHIBIT 11
                                
                COMPUTATION OF EARNINGS PER SHARE
         for the fiscal years ended 1996, 1995 and 1994
      (Dollar amounts in thousands, except per share data)
                                
                                


                                
                                
                               1996       1995       1994
                                            
Primary Earnings Per Share:                           

Net Earnings                   $ 2,355    $   681    $ 1,385
                                                   
Weighted Average Shares                                   
Outstanding:                   
  Common Shares                  1,125      1,129      1,140
                                                          
Primary Earnings Per Share     $  2.09    $   .60    $  1.21
                                                                
                                                               
Fully Diluted Earnings Per Share:                                 
                                                          
Net Earnings                   $ 2,355    $   681    $ 1,385
                                                          
Weighted Average Shares                                   
Outstanding:                                                  
  Common Shares                  1,136      1,129      1,140
                                                          
Fully Diluted Earnings                                       
 Per Share                     $  2.07    $   .60    $  1.21
                                



                                
Notes:
Common  stock equivalents are excluded from the primary  earnings
per  share weighted average shares outstanding on the face of the
Consolidated  Statements of Operations and Retained  Earnings  as
their effect is immaterial.

Fully  diluted earnings per share for 1996 are not  disclosed  on
the  face  of  the  Consolidated  Statements  of  Operations  and
Retained Earnings as their effect is immaterial.

The above weighted average shares outstanding can also be used to
compute  the  primary and fully diluted earnings  per  share  for
continuing and discontinued operations.