Prospectus excerpt:  Harris Preferred Capital Corporation (the "Company") is hereby offering (the "Offering") 10,000,000 shares of its 7 3/8% Noncumulative Exchangeable Preferred Stock, Series A, par value $1.00 per share (the "Series A Preferred Shares"). Dividends on the Series A Preferred Shares are payable at the rate of 7 3/8% per annum of the liquidation preference (an amount equal to $1.84375 per annum per share) if, when and as authorized by the Board of Directors of the Company. Dividends are not cumulative and, if authorized, are payable quarterly in arrears on the thirtieth day of March, June, September and December in each year, commencing March 30, 1998. If no dividend is authorized on the Series A Preferred Shares by the Company for a quarterly dividend period, holders of the Series A Preferred Shares will have no right to receive a dividend for that period, and the Company will have no obligation to pay a dividend for that period, whether or not dividends are authorized, declared and paid for any future period.