DALLAS -- Even as interest rates plunged, the Texas treasury earned $23 million more in 1991 than the previous year by aggressively investing the state's funds.

Treasurer Kay Bailey Hutchison yesterday said the state earned an average yield of 7.29% on its $4.79 billion portfolio, netting the state $340.2 million in 1991. That was up $23 million from interest earnings in 1990.

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