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                                  EXHIBIT 12(B)
                     WELLS FARGO & COMPANY AND SUBSIDIARIES
               COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES
                             AND PREFERRED DIVIDENDS

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<CAPTION>
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                                                                                                            Year ended December 31,
                                                                         ---------------------------------------------------------
(in millions)                                                              1995        1994        1993          1992         1991
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<S>                                                                      <C>         <C>         <C>          <C>          <C>
EARNINGS, INCLUDING INTEREST ON DEPOSITS (1):
   Income before income tax expense                                      $1,777      $1,454      $1,038       $   500      $    54
   Fixed charges                                                          1,496       1,214       1,157         1,505        2,504
                                                                         ------      ------      ------       -------      -------
                                                                         $3,273      $2,668      $2,195       $ 2,005      $ 2,558
                                                                         ------      ------      ------       -------      -------
                                                                         ------      ------      ------       -------      -------

Preferred dividend requirement                                           $   42      $   43         $50       $    48      $    19
Ratio of income before income tax expense to net income                    1.72        1.73        1.70          1.77         2.57
                                                                         ------      ------      ------       -------      -------

Preferred dividends (2)                                                  $   72      $   74         $85       $    85      $    49
                                                                         ------      ------      ------       -------      -------
Fixed charges (1):
   Interest expense                                                       1,431       1,155       1,104         1,454        2,452
   Estimated interest component of net rental expense                        65          59          53            51           52
                                                                         ------      ------      ------       -------      -------
                                                                          1,496       1,214       1,157         1,505        2,504
                                                                         ------      ------      ------       -------      -------
   Fixed charges and preferred dividends                                 $1,568      $1,288      $1,242       $ 1,590      $ 2,553
                                                                         ------      ------      ------       -------      -------
                                                                         ------      ------      ------       -------      -------

Ratio of earnings to fixed charges and preferred dividends (3)             2.09        2.07        1.77          1.26         1.00
                                                                         ------      ------      ------       -------      -------
                                                                         ------      ------      ------       -------      -------


EARNINGS, EXCLUDING INTEREST ON DEPOSITS:
   Income before income tax expense                                      $1,777      $1,454      $1,038       $   500      $    54
   Fixed charges                                                            499         360         294           320          539
                                                                         ------      ------      ------       -------      -------
                                                                         $2,276      $1,814      $1,332       $   820      $   593
                                                                         ------      ------      ------       -------      -------
                                                                         ------      ------      ------       -------      -------

Preferred dividends (2)                                                  $   72      $   74      $   85       $    85      $    49
                                                                         ------      ------      ------       -------      -------
Fixed charges:
   Interest expense                                                       1,431       1,155       1,104         1,454        2,452
   Less interest on deposits                                               (997)       (854)       (863)       (1,185)      (1,965)
   Estimated interest component of net rental expense                        65          59          53            51           52
                                                                         ------      ------      ------       -------      -------
                                                                            499         360         294           320          539
                                                                         ------      ------      ------       -------      -------
   Fixed charges and preferred dividends                                 $  571      $  434      $  379       $   405      $   588
                                                                         ------      ------      ------       -------      -------
                                                                         ------      ------      ------       -------      -------

Ratio of earnings to fixed charges and preferred dividends (3)             3.99        4.18        3.51          2.02         1.01
                                                                         ------      ------      ------       -------      -------
                                                                         ------      ------      ------       -------      -------
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(1)  As defined in Item 503(d) of Regulation S-K.
(2)  The preferred dividends were increased to amounts representing the pretax
     earnings that would be required to cover such dividend requirements.
(3)  These computations are included herein in compliance with Securities and
     Exchange Commission regulations. However, management believes that fixed
     charge ratios are not meaningful measures for the business of the Company
     because of two factors.  First, even if there was no change in net income,
     the ratios would decline with an increase in the proportion of income which
     is tax-exempt or, conversely, they would increase with a decrease in the
     proportion of income which is tax-exempt.  Second, even if there was no
     change in net income, the ratios would decline if interest income and
     interest expense increase by the same amount due to an increase in the
     level of interest rates or, conversely, they would increase if interest
     income and interest expense decrease by the same amount due to a decrease
     in the level of interest rates.