COST OF CREDIT

COST OF CREDIT

Tuesday, July 18, 1995

(Percentages Per Year)INTERNATIONAL INTEREST RATES

Canada U.K. Germany Netherlands Switzerland

Day-to-Day

6.43 6.43 4.43 4.00 2.37

Time deposits (3 mos.)

6.37 6.81 4.43 4.09 2.70

EURODOLLARS

O/Night 1 Mo. 3 Mo. 6 Mo. 12 Mo.

London

5.6800 5.7500 5.7200 5.5600 5.7000

Offered side, interbank quotations.

International Interest Rates supplied by Reuter Money Service.

UNITED STATES RATES

Cmmcl.

Federal *Tr'sury Paper *Bankers *Cert.

Funds Bills Dealers Direct Ac'pt'ces of Dep.

5.7500 5.43 5.82 N.A. 5.75 5.78

*90 days. 90-119 days.

U.S. prime rate, 8.75%; Central bank discount rates: U.S., 4.75%; Germany, 4.00; Netherlands, 4.00; Belgium, 4.00; France, intervention rate, 5.00; Switzerland, 2.50; Italy, 9.00; Canada, 6.58; Japan, 1.75, U.K., base lending rate, 6.25.