EXHIBIT 12


                                                                                                 COMPUTATION OF RATIO OF
                                                                                                 EARNINGS TO FIXED CHARGES
                                                                                                                 UNAUDITED

                                                        For the Twelve                           Fiscal Year Ended September 30
                                                                         --------------------------------------------------------
                                                         Months Ended
                                                        March 31, 2000         1999       1998       1997       1996       1995
                                                    -----------------------------------------------------------------------------
                                                                                                       
EARNINGS:

Income Before Interest Charges and Minority Interest
     in Foreign Subsidiaries (2)                          $222,474          $202,512   $118,085     $169,783  $159,599   $128,061
Allowance for Borrowed Funds Used in Construction              358               303        110          346       205        195
Federal Income Tax                                          62,754            44,583     43,626       57,807    55,148     30,522
State Income Tax                                             6,625             6,215      6,635        7,067     7,266      4,905
Deferred Inc. Taxes - Net (3)                                5,386            14,030    (26,237)       3,800     3,907      8,452
Investment Tax Credit - Net                                   (922)             (729)      (663)        (665)     (665)      (672)
Rentals (1)                                                  4,120             4,281      4,672        5,328     5,640      5,422
                                                    ------------------------------------------------------------------------------

                                                          $300,795          $271,195   $146,228     $243,466  $231,100   $176,885
                                                    ==============================================================================

FIXED CHARGES:

Interest & Amortization of Premium and
   Discount of Funded Debt                                 $64,847           $65,402    $53,154      $42,131   $40,872    $40,896
Interest on Commercial Paper and
   Short-Term Notes Payable                                 18,932            17,319     13,605        8,808     7,872      6,745
Other Interest (2)                                           5,456             2,835     16,919        4,502     6,389      4,721
Rentals (1)                                                  4,120             4,281      4,672        5,328     5,640      5,422
                                                    ------------------------------------------------------------------------------

                                                           $93,355           $89,837    $88,350      $60,769   $60,773    $57,784
                                                    ==============================================================================

RATIO OF EARNINGS TO FIXED CHARGES                            3.22              3.02       1.66         4.01      3.80       3.06



   Notes:

   (1) Rentals  shown above  represent  the  portion of all rentals  (other than
       delay rentals) deemed representative of the interest factor.

   (2) The twelve months ended March 31, 2000 and fiscal 1999,  1998, 1997, 1996
       and 1995 reflect the reclassification of $1,927,  $1,839, $1,716, $1,716,
       $1716 and  $1,716  representing  the loss on  reacquired  debt  amortized
       during each period, from Other Interest Charges to Operation Expense.

   (3) Deferred  Income  Taxes - Net for fiscal  1998  excludes  the  cumulative
       effect of change in accounting.