Exhibit 11 -- Statement Re: Computation of Per-Share Earnings
Three months ended
November 30,
1997 1996
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Primary
Average shares outstanding 1,606,283 1,571,170
Net effect of dilutive stock options -
based on the treasury stock method
using average market price 137,434 147,728
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Total 1,743,717 1,718,898
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Net income $209,408 $195,817
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Per-share amount $0.12 $0.11
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Fully Diluted
Average shares outstanding 1,606,283 1,571,170
Net effect of dilutive stock options -
based on the treasury stock method
using the quarter end market price, if
Higher than average market price 137,434 147,728
--------- ---------
Total 1,743,717 1,718,898
========= =========
Net income $209,408 $195,817
========= =========
Per-share amount $0.12 $0.11
===== =====