Amendment No. 1 to Pricing Supplement No. 0172 	   Rule 424(b)(2)
Dated July 9, 1997		                          		   File number:  333-7229 
                                                       
(To Prospectus dated July 12, 1996 and                     
Prospectus Supplement dated November 8, 1996)              


Subordinated Medium-Term Notes, Series F                     
Due Nine Months or More From Date of Issue                   
Fixed Rate Notes           
                           
Principal Amount:                                    $  50,000,000.00
Issue Price:                                               100%   (1)

Commission or Discount:                    2.460%    $   1,230,000.00
Proceeds to Company:                      97.540%    $  48,770,000.00


Agent:                            Merrill Lynch & Co., as Principal  (1) 

Original Issue Date:              July 22, 1997        

Stated Maturity Date:             August 15, 2012      

Cusip #:                          63858S-BH-1    

Form:                             Book entry only         

Interest Rate:                    7.040% per annum             


Interest Payment Dates:           Monthly, 15th of each month, 
                            				  commencing on August 15, 1997
                                                                      

Discount Note?                                              No

May the Notes be redeemed by the Company prior to maturity? Yes (See below)

The notes will be subject to redemption at the option of the Company, 
in whole, on the Interest Payment Date occurring August 15, 2001 and 
on any Interest Payment Date occurring in February or August thereafter 
at a redemption price equal to 100% of the principal amount of the 
Notes, plus accrued interest thereon, if any, upon at least 30 calendar
days prior notice, as described in the Prospectus Supplement.       


May the notes be repaid prior to maturity at the option of the holder?  No 



(1): Notes purchased by the Agent as principal may be resold to investors 
     and other purchasers at varying prices relating to prevailing market
     prices at the time of resale as determined by Merrill Lynch & Co.