EXHIBIT (12) (Page 1 of 2)

Ratio of Earnings to Fixed Charges and Preferred Stock Dividends
(Dollars in Thousands)


                                                                 Years Ended December 31,
                                                  1994      1993      1992      1991      1990      

Earnings:
                                                                              
Income/(Loss) before Income Taxes                 $118,910  $(2,235)  $145,500  $136,965  $122,849  

Plus: Fixed Charges and Preferred Stock 
  Dividends (Below)                                 64,908   55,473     49,268    53,842    64,619

Less: Capitalized Interest                          (4,033)  (5,935)    (6,117)     (725)     (709)

Less: ESOP Debt Service Not Included in Pre-Tax
  Income/(Loss)                                     (8,188)  (8,744)    (8,647)   (8,383)   (8,175)

Less: Equity Earnings from Unconsolidated 
   Affiliates                                       (4,763)  (1,480)    (6,665)   (7,259)   (7,942)

Plus: Dividends Received from Unconsolidated 
   Affiliates                                        5,582    4,624      8,052    10,393    26,381

Total Defined Earnings                            $172,416  $41,703   $181,391  $184,833  $197,023


Fixed Charges and Preferred Stock Dividends:

Interest Expense                                  $ 41,630  $28,380   $ 20,780  $ 30,568  $ 40,856

Preferred Stock Dividends *                          8,159    8,448      8,638     8,718     8,843

Less: Preferred Stock Dividends Used to Meet 
   ESOP Debt Service Requirements *                 (8,159)  (8,448)    (8,638)   (8,718)   (8,843)

Plus: Capitalized Interest                           4,033    5,935      6,117       725       709

Plus: ESOP Interest                                  8,188    8,896      9,621    10,081    10,467

Plus: Interest within Rental Expense                11,057   12,262     12,750    12,468    12,587

Total Defined Fixed Charges and 
  Preferred Dividends                             $ 64,908  $55,473   $ 49,268  $ 53,842  $ 64,619

Ratio of Earnings to Fixed Charges 
   and Preferred Stock Dividends                  2.66 to 1 .75 to 1  3.68 to 1 3.43 to 1 3.05 to 1

*  Dividends on the Series C preferred shares, which are held by the ESOP Trust, are used to meet ESOP
debt service requirements.
/TABLE

EXHIBIT (12) (Page 2 of 2)

Ratio of Earnings to Fixed Charges
(Dollars in Thousands)


                                                                 Years Ended December 31,
                                                  1994      1993      1992      1991      1990 

Earnings:
                                                                              
Income/(Loss) before Income Taxes                 $118,910  $(2,235)  $145,500  $136,965  $122,849

Plus: Fixed Charges (Below)                         64,908   55,473     49,268    53,842    64,619

Less: Capitalized Interest                          (4,033)  (5,935)    (6,117)     (725)     (709)

Less: ESOP Debt Service Not Included 
   in Pre-Tax Income/(Loss)                         (8,188)  (8,744)    (8,647)   (8,383)   (8,175)

Less: Equity Earnings from Unconsolidated 
   Affiliates                                       (4,763)  (1,480)    (6,665)   (7,259)   (7,942)

Plus: Dividends Received from 
   Unconsolidated Affiliates                         5,582    4,624      8,052    10,393    26,381

Total Defined Earnings                            $172,416  $41,703   $181,391  $184,833  $197,023


Fixed Charges:

Interest Expense                                  $ 41,630  $28,380   $ 20,780  $ 30,568  $ 40,856

Plus: Capitalized Interest                           4,033    5,935      6,117       725       709

Plus: ESOP Interest                                  8,188    8,896      9,621    10,081    10,467

Plus: Interest within Rental Expense                11,057   12,262     12,750    12,468    12,587

Total Defined Fixed Charges                       $ 64,908  $55,473   $ 49,268  $ 53,842  $ 64,619

Ratio of Earnings to Fixed Charges                2.66 to 1 .75 to 1  3.68 to 1 3.43 to 1 3.05 to 1

/TABLE