EXHIBIT 11

                Statement Re: Computation of Per-Share Earnings



                                                                Year ended September 30
                                                        1996            1995          1994
                                                        ----            ----          ----
                                                                        
Primary
    Average shares outstanding                        1,821,000      1,812,000      1,743,000
    Net effect of dilutive stock options - based
       on the treasury stock method using
       average market price                              52,000         20,000         11,000
                                                     ----------     ----------     ----------

    Total                                             1,873,000      1,832,000      1,754,000
                                                     ==========     ==========     ==========

    Net income                                       $  595,000     $  394,000     $  563,000
                                                     ==========     ==========     ==========

    Per-share amount                                 $      .32     $      .22     $      .32
                                                     ==========     ==========     ==========