<ARTICLE>                                 5
<MULTIPLIER>                          1,000
       
                      
<PERIOD-TYPE>          12-MOS
<FISCAL-YEAR-END>      DEC-31-1996
<PERIOD-END>           DEC-31-1996
<CASH>                                5,591
<SECURITIES>                         47,259
<RECEIVABLES>                        13,186
<ALLOWANCES>                              0
<INVENTORY>                               0
<CURRENT-ASSETS>                          0
<PP&E>                                    0
<DEPRECIATION>                            0
<TOTAL-ASSETS>                       66,229
<CURRENT-LIABILITIES>                     0
<BONDS>                                   0
<PREFERRED-MANDATORY>                     0
<PREFERRED>                               0
<COMMON>                                447
<OTHER-SE>                          (24,544)
<TOTAL-LIABILITY-AND-EQUITY>         66,229
<SALES>                                   0
<TOTAL-REVENUES>                          0
<CGS>                                     0
<TOTAL-COSTS>                             0
<OTHER-EXPENSES>                      3,853
<LOSS-PROVISION>                          0
<INTEREST-EXPENSE>                        0
<INCOME-PRETAX>                       6,636<F1>
<INCOME-TAX>                          7,189<F2>
<INCOME-CONTINUING>                  13,825
<DISCONTINUED>                          207
<EXTRAORDINARY>                           0
<CHANGES>                                 0
<NET-INCOME>                         14,032
<EPS-PRIMARY>                          0.31
<EPS-DILUTED>                          0.31
<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>