Exhibit 11

DILUTED EARNINGS PER COMMON SHARE AND DILUTED AVERAGE COMMON SHARES OUTSTANDING
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                    For diluted earnings per common share, net income available
                    to common shareholders can be affected by the conversion of
                    the registrant's convertible preferred stock. Where the
                    effect of this conversion would have been dilutive, net
                    income available to common shareholders is adjusted by the
                    associated preferred dividends. This adjusted net income is
                    divided by the weighted average number of common shares
                    outstanding for each period plus amounts representing the
                    dilutive effect of stock options outstanding and the
                    dilution resulting from the conversion of the registrant's
                    convertible preferred stock, if applicable. The effect of
                    convertible preferred stock is excluded from the computation
                    of diluted earnings per common share in periods in which the
                    effect would be antidilutive.

                    Diluted earnings per common share was determined as follows:
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<CAPTION>

                                                                              THREE MONTHS ENDED               NINE MONTHS ENDED
                              (SHARES IN THOUSANDS, DOLLARS IN MILLIONS          SEPTEMBER 30                     SEPTEMBER 30
                              EXCEPT PER SHARE INFORMATION)                      1998          1997            1998          1997
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<S>                                                                         <C>            <C>            <C>           <C>
                              Average common shares outstanding             1,740,092      1,722,243      1,732,297     1,736,460

                              Dilutive effect of:
                                  Convertible preferred stock                   3,079          3,770          3,079         3,770
                                  Stock options                                41,247         47,172         46,730        44,431
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                              Total dilutive shares                         1,784,418      1,773,185      1,782,106     1,784,661
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                              Income available to common shareholders     $       372    $     1,706    $     3,979   $     4,988
                              Preferred dividends paid on dilutive
                                  convertible preferred stock                       2              2              5             6
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                              Total net income available to common
                                  shareholders adjusted for full dilution $       374    $     1,708    $     3,984   $     4,994
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                              Diluted earnings per common share           $      0.21    $      0.96    $      2.24   $      2.80
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