WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.

  

<ARTICLE> BD
<LEGEND>
This schedule contains summary financial information extracted from
the Morgan Keegan, Inc. Form 10-Q for the period ended October 31,
1995 and is qualified in its entirety by reference to such financial
statements.
</LEGEND>
<MULTIPLIER> 1,000
       
                             
<PERIOD-TYPE>                   QTR-1
<FISCAL-YEAR-END>                          JUL-31-1996
<PERIOD-END>                               OCT-31-1995
<CASH>                                          11,708
<RECEIVABLES>                                  300,837
<SECURITIES-RESALE>                            281,404
<SECURITIES-BORROWED>                           21,401
<INSTRUMENTS-OWNED>                            299,053
<PP&E>                                          13,738
<TOTAL-ASSETS>                                 957,353
<SHORT-TERM>                                   170,042
<PAYABLES>                                     486,132
<REPOS-SOLD>                                    31,862
<SECURITIES-LOANED>                              2,165
<INSTRUMENTS-SOLD>                              57,471
<LONG-TERM>                                          0
<COMMON>                                        12,580
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<OTHER-SE>                                     134,403
<TOTAL-LIABILITY-AND-EQUITY>                   957,353
<TRADING-REVENUE>                               29,203
<INTEREST-DIVIDENDS>                             9,542
<COMMISSIONS>                                   15,351
<INVESTMENT-BANKING-REVENUES>                   11,512
<FEE-REVENUE>                                    3,332
<INTEREST-EXPENSE>                               5,131
<COMPENSATION>                                  37,243
<INCOME-PRETAX>                                 14,230
<INCOME-PRE-EXTRAORDINARY>                      14,230
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                     8,830
<EPS-PRIMARY>                                     0.44
<EPS-DILUTED>                                     0.44