41.   Earnings in both quarters were reduced by adjustments Alcoa makes to reflect its aluminum commodity contracts, which lost value as prices dropped.

42.   Each of the stocks has lost value.

43.   Even if employers reimburse them, their firms and society as a whole lose the value of their work as teachers, bank tellers or brain surgeons.

44.   Elsewhere, some bonds of RJR Nabisco Holdings Corp. lost value amid concern shareholders voted to urge the food and cigarette company to spin off its Nabisco food unit.

45.   Exporters benefit from a stronger dollar against the peseta because their products become cheaper on international markets as their currency loses value.

46.   Even so, the stock lost value in its first day of trading.

47.   Financial companies often have large fixed interest portfolios that lose value when rates rise.

48.   Financial companies often hold large amounts of fixed-income securities, which lose value if interest rates rise.

49.   Financial companies such as Chase Manhattan Corp. and Travelers Group Inc., whose bond holdings lose value when yields rise, led the decline.

50.   Existing bonds have lost value.