


<TABLE>
RATIO OF EARNINGS TO FIXED CHARGES                                                                      EXHIBIT 12
<CAPTION>
( in thousands )                                                                                        Three months ended         
                                                                                                             March 31,
                                                                                                        1999             1998
                                                                                                                               
<S>                                                                                                 <C>              <C>    
EARNINGS AS DEFINED:                                                                                                           
Earnings from operations before income taxes after                                                                             
     eliminating undistributed earnings of 20%- to                                                                             
     50%-owned affiliates                                                                           $   56,346       $   44,425
Fixed charges excluding capitalized interest and                                                                               
     preferred stock dividends of majority-owned                                                                               
     subsidiary companies                                                                               12,346           13,234
                                                                                                                               
Earnings as defined                                                                                 $   68,692       $   57,659
                                                                                                                               
FIXED CHARGES AS DEFINED:                                                                                                      
Interest expense, including amortization of                                                                                    
     debt issue costs                                                                               $   11,073       $   12,012
Interest capitalized                                                                                        11               31
Portion of rental expense representative                                                                                       
     of the interest factor                                                                              1,273            1,222
Preferred stock dividends of majority-owned                                                                                    
     subsidiary companies                                                                                   20               20
                                                                                                                               
Fixed charges as defined                                                                            $   12,377       $   13,285
                                                                                                                               
RATIO OF EARNINGS TO FIXED CHARGES                                                                        5.55             4.34
</TABLE>


