However Houston Industries was up 75 cents, to $39.625.

Houston Industries has 2.7 million customers in six states.

Houston Industries is also determined not to shock its stockholders by cutting its dividend.

Houston Industries' cautious approach toward mergers also appeals to investors who want a utility that is not likely to make a major strategic move.

Houston Industries is profitable and has never missed paying a dividend.

As just one example, Houston Industries is now making inroads in the cable industry.

The company, which is a subsidiary of Houston Industries, had always intended to return home as soon as possible.

But almost a third of the trading was accounted for by one issue, Houston Industries.

Houston Industries' stock closed at $29.50, down 12.5 cents on the Big Board today.

Another active utility was Houston Industries, which was off 1/4, to 30, on a turnover of about 2.5 million shares.