EXHIBIT 12

STATEMENT SETTING FORTH COMPUTATION OF RATIO OF PROFIT TO FIXED CHARGES
  YEARS ENDED DECEMBER 31,  (Millions of dollars)(Unaudited)
     
                                 1998      1997      1996
 
 Net profit                     $111.6   $  94.2   $  75.6
 
 Add:
   Provision for income taxes     67.0      53.5      40.2
 
 Deduct:
   Equity in profit of 
     partnerships                 (3.1)    (2.6)      (2.2)
 
 Profit before taxes            $175.5  $ 145.1    $ 113.6
 
 Fixed charges:
   Interest on borrowed funds  $ 501.8  $ 366.7    $ 315.4
   Rentals at computed interest*   4.1      3.2        2.5
 
 Total fixed charges           $ 505.9  $ 369.9    $ 317.9
 
 Profit before taxes plus
   fixed charges               $ 681.4  $ 515.0    $ 431.5
 Ratio of profit before taxes plus
   fixed charges to fixed charges 1.35      1.39   1.36
       
       *Those portions of rent expense that are representative of
  interest cost.
  
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