<ARTICLE> BD <LEGEND> (Replace this text with the legend) </LEGEND> <CIK> 0000083125 <NAME> First Montauk Financial Corp. <MULTIPLIER> 1,000 <PERIOD-TYPE> 3-mos <FISCAL-YEAR-END> Dec-31-1998 <PERIOD-START> Apr-1-1998 <PERIOD-END> Jun-30-1998 <CASH> 828 <RECEIVABLES> 3286 <SECURITIES-RESALE> 0 <SECURITIES-BORROWED> 0 <INSTRUMENTS-OWNED> 2728 <PP&E> 1854 <TOTAL-ASSETS> 12767 <SHORT-TERM> 0 <PAYABLES> 4403 <REPOS-SOLD> 0 <SECURITIES-LOANED> 0 <INSTRUMENTS-SOLD> 129 <LONG-TERM> 207 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <COMMON> 4793 <OTHER-SE> 2743 <TOTAL-LIABILITY-AND-EQUITY> 12767 <TRADING-REVENUE> 2059 <INTEREST-DIVIDENDS> 415 <COMMISSIONS> 7814 <INVESTMENT-BANKING-REVENUES> 335 <FEE-REVENUE> 0 <INTEREST-EXPENSE> 37 <COMPENSATION> 8028 <INCOME-PRETAX> (1839) <INCOME-PRE-EXTRAORDINARY> (1839) <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> (1227) <EPS-PRIMARY> (.13) <EPS-DILUTED> (.13)