<ARTICLE>                                 5
<MULTIPLIER>                          1,000
       
                      
<PERIOD-TYPE>          9-MOS
<FISCAL-YEAR-END>      DEC-31-1996
<PERIOD-END>           SEP-30-1996
<CASH>                                5,534
<SECURITIES>                         47,676
<RECEIVABLES>                        13,234
<ALLOWANCES>                              0
<INVENTORY>                               0
<CURRENT-ASSETS>                          0
<PP&E>                                    0
<DEPRECIATION>                            0
<TOTAL-ASSETS>                       67,165
<CURRENT-LIABILITIES>                     0
<BONDS>                                   0
<PREFERRED-MANDATORY>                     0
<PREFERRED>                               0
<COMMON>                                447
<OTHER-SE>                          (23,488)
<TOTAL-LIABILITY-AND-EQUITY>         67,165
<SALES>                                   0
<TOTAL-REVENUES>                          0
<CGS>                                     0
<TOTAL-COSTS>                             0
<OTHER-EXPENSES>                      2,029
<LOSS-PROVISION>                          0
<INTEREST-EXPENSE>                        0
<INCOME-PRETAX>                       7,757<F1>
<INCOME-TAX>                          7,272<F2>
<INCOME-CONTINUING>                  15,029
<DISCONTINUED>                           59
<EXTRAORDINARY>                           0
<CHANGES>                                 0
<NET-INCOME>                         15,088
<EPS-PRIMARY>                          0.34
<EPS-DILUTED>                          0.34
<FN>
<F1> Income-pretax  includes other income of $8,000,  resulting from a reduction
in the litigation & contingency reserves. <F2> Income-tax includes a 1977 income
tax refund of $7,613,  which has been recognized as an income tax benefit in the
Statement of Operations.
</FN>