EXHIBIT 16

                               POWERS OF ATTORNEY

         Pursuant  to the  requirements  of the  Securities  Act  of  1933,  the
Registration  Statement  has been signed below by the  following  persons in the
capacities and on the dates  indicated.  By so signing,  the  undersigned in his
capacity as trustee or officer,  or both, as the case may be of the  Registrant,
does hereby  appoint  Joseph R.  Fleming and John V.  O'Hanlon and each of them,
severally, or if more than one acts, a majority of them, his/her true and lawful
attorney  and agent to execute in his name,  place and stead (in such  capacity)
any and all  amendments to the  Registration  Statement  and any  post-effective
amendments  thereto and all  instruments  necessary or  desirable in  connection
therewith,  to attest the seal of the  Registrant  thereon  and to file the same
with the Securities and Exchange  Commission.  Each of said attorneys and agents
shall  have  power to act with or  without  the other  and have  full  power and
authority to do and perform in the name and on behalf of the undersigned, in any
and all  capacities,  every act whatsoever  necessary or advisable to be done in
the  premises as fully and to all intents  and the  purposes as the  undersigned
might or could do in person,  hereby  ratifying  and  approving  the act of said
attorneys and agents and each of them.

Signature                    Title                          Date


/s/ John S. Anderegg, Jr.
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John S. Anderegg, Jr.        Trustee                        11/30/98


/s/ Paul H. Broyhill
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Paul H. Broyhill             Trustee                        11/30/98


/s/ Keith J. Carlson
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Keith J. Carlson             Trustee/President              11/30/98


/s/ Stanley Channick
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Stanley Channick             Trustee                        11/30/98


/s/ Frank W. DeFriece, Jr.
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Frank W. DeFriece, Jr.       Trustee                        11/30/98    


/s/ Roy J. Glauber
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Roy J. Glauber               Trustee                        11/30/98


/s/ Michael G. Landry
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Michael G. Landry            Chairman                       11/30/98


/s/ Joseph G. Rosenthal
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Joseph G. Rosenthal          Trustee                        11/30/98


/s/ Richard N. Silverman
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Richard N. Silverman         Trustee                        11/30/98


/s/ J. Brendan Swan
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J. Brendan Swan              Trustee                        11/30/98


/s/ C. William Ferris
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C. William Ferris            Secretary/Treasurer            11/30/98