Exhibit 11

Diluted Earnings Per Common Share and Diluted Average Common Shares Outstanding
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     For diluted  earnings  per common  share,  net income  available  to common
shareholders can be affected by the conversion of the  registrant's  convertible
preferred  stock.  Where the effect of this conversion would have been dilutive,
net income  available  to common  shareholders  is  adjusted  by the  associated
preferred dividends. This adjusted net income is divided by the weighted average
number of common shares  outstanding  for each period plus amounts  representing
the dilutive effect of stock options outstanding and the dilution resulting from
the conversion of the registrant's  convertible  preferred stock, if applicable.
The effect of convertible  preferred  stock is excluded from the  computation of
diluted  earnings  per common  share in  periods  in which the  effect  would be
antidilutive.
         Diluted earnings per common share was determined as follows:


                                                               Three Months Ended                     Six Months Ended
                                                                    June 30                               June 30
 (Shares in Thousands, Dollars in Millions               ------------------------------------------------------------------
  Except Per-Share Information)                              1999            1998                    1999        1998
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Average common shares outstanding                            1,743,503        1,732,168           1,740,549      1,728,353

Dilutive effect of:
           Convertible preferred stock                           3,098            3,123               3,098          3,123
           Stock options                                        40,244           49,421              39,670         47,471
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Total dilutive average shares                                1,786,845        1,784,712           1,783,317      1,778,947
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Net income available to common shareholders                    $ 1,914          $ 2,287             $ 3,826        $ 3,607
Preferred dividends paid on dilutive convertible
            preferred stock                                          1                1                   3              3
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Total net income available to common shareholders
            adjusted for full dilution                         $ 1,915          $ 2,288             $ 3,829        $ 3,610
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Diluted earnings per common share                               $ 1.07           $ 1.28              $ 2.15         $ 2.03
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