TEXAS AMERICAN &lt;TAE> OMITS PREFERRED PAYOUT
  Texas American Energy Corp said
  its board has decided to again omit the quarterly dividend on
  its 2.575 dlr cumulative convertible exchangeable preferred
  stock.
      The dividend would have been payable May One.  The company
  last paid 64.3 cts a share on the issue in August 1986.
  

