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EXHIBIT 11.1    Statement regarding computation of per share earnings.  


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                                                         Exhibit 11.1




Statement re Computation of Per Share Earnings



Primary earnings per share are computed by dividing earnings available to 
common shares by the weighted average number of common and common equivalent 
shares outstanding during the period.

For purposes of computing primary earnings per share, common equivalent shares
include the average number of common shares issuable upon the exercise of all
employee stock options and awards and outstanding employee stock subscriptions,
if dilutive, less the common shares which could have been purchased at the
average market price during the period, with the assumed proceeds, including
"windfall" tax benefits, from the exercise of the options, awards and
subscriptions.

Fully-diluted earnings per share are computed by dividing the sum of earnings
available to common shares and dividends on preferred shares, if any, that are
potentially dilutive by the weighted average number of common shares, common
equivalent shares and common shares assumed converted from potentially dilutive
securities outstanding during the period.

For purposes of computing fully-diluted earnings per share, common equivalent
shares are computed on a basis comparable to that for primary earnings per
share, except that common shares are assumed to be purchased at the market
price at the end of the period, if dilutive. Common shares assumed converted
from potentially dilutive securities in the twelve-month periods ended December
31, 1992 and 1991, include common shares that would have been issuable upon the
conversion of the Registrant's Fixed Rate Auction Preferred Stock, Series A and
B (collectively the "FRAPS"), at the applicable rate which would have resulted
in the greatest potential dilution.  For the twelve-month periods ended
December 31, 1992 and 1991, the FRAPS were antidilutive.  In the second quarter
of 1993 the Company redeemed all of the FRAPS.  The FRAPS have therefore not
been considered potentially dilutive securities in the computation of
fully-diluted earnings per share for the twelve-month period ended December 31,
1993.