In reactor operation, it is widely known that the absolute stability may not exist for multiple feedback paths even though the single lumped negative temperature coefficient feedback case is clearly stable at all frequencies above those creating xenon poisoning effects. However, interesting and useful stability information may be obtained from a two-path temperature coefficient feedback which can be represented in a water-cooled, water-moderated hetergeneous reactor. In this paper, the outline of an operating stability of a reactor having two-path temperature coefficient feedback is analyzed and described neglecting poison effects.