EXHIBIT 11



              STATEMENT REGARDING 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
applicable to common shares 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.