<ARTICLE> BD
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM DAIN
RAUSCHER CORPORATION'S SEPTEMBER 30, 1998 FORM 10-Q AND IS QUALIFIED IN ITS
ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<MULTIPLIER> 1,000
       
                             
<PERIOD-TYPE>                   9-MOS
<FISCAL-YEAR-END>                          DEC-31-1997
<PERIOD-START>                             JAN-01-1998
<PERIOD-END>                               SEP-30-1998
<CASH>                                           50296
<RECEIVABLES>                                  1429725
<SECURITIES-RESALE>                             335068
<SECURITIES-BORROWED>                                0<F1>
<INSTRUMENTS-OWNED>                             565366
<PP&E>                                           43862
<TOTAL-ASSETS>                                 2619031
<SHORT-TERM>                                    175415
<PAYABLES>                                     1445605
<REPOS-SOLD>                                    217819
<SECURITIES-LOANED>                                  0<F2>
<INSTRUMENTS-SOLD>                              346172
<LONG-TERM>                                     102221
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<COMMON>                                          1566
<OTHER-SE>                                      330233
<TOTAL-LIABILITY-AND-EQUITY>                   2619031
<TRADING-REVENUE>                               105767
<INTEREST-DIVIDENDS>                             99110
<COMMISSIONS>                                   224135
<INVESTMENT-BANKING-REVENUES>                    89600
<FEE-REVENUE>                                    45211<F3>
<INTEREST-EXPENSE>                               55967
<COMPENSATION>                                  351242
<INCOME-PRETAX>                                  20804
<INCOME-PRE-EXTRAORDINARY>                       13315
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                     13315
<EPS-PRIMARY>                                     1.08<F4>
<EPS-DILUTED>                                     1.01<F4>
<FN>
<F1>INCLUDED IN RECEIVABLES
<F2>INCLUDED IN PAYABLES
<F3>INCLUDES FEES FROM ASSET MANAGEMENT ONLY
<F4>EARNINGS (LOSS) PER SHARE AMOUNTS REPRESENT BASIC AND DILUTED AS PRESCRIBED
BY SFAS 128
</FN>