<ARTICLE> BD
<LEGEND>
This schedule contains summary financial information extracted from the
Morgan Keegan, Inc. Form 10-Q for the quarter ended January 31, 1998, and
is qualified in its entirety by reference to such financial statements.
</LEGEND>
<MULTIPLIER> 1,000
       
                             
<PERIOD-TYPE>                   3-MOS
<FISCAL-YEAR-END>                          JUL-31-1998
<PERIOD-END>                               JAN-31-1998
<CASH>                                          14,495
<RECEIVABLES>                                  446,074
<SECURITIES-RESALE>                            345,185
<SECURITIES-BORROWED>                           15,293
<INSTRUMENTS-OWNED>                            307,052
<PP&E>                                          22,457
<TOTAL-ASSETS>                               1,209,029
<SHORT-TERM>                                   121,100
<PAYABLES>                                     660,300
<REPOS-SOLD>                                     4,132
<SECURITIES-LOANED>                              2,971
<INSTRUMENTS-SOLD>                              58,822
<LONG-TERM>                                          0
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<COMMON>                                        20,586
<OTHER-SE>                                     219,018
<TOTAL-LIABILITY-AND-EQUITY>                 1,209,029
<TRADING-REVENUE>                               26,521
<INTEREST-DIVIDENDS>                            17,847
<COMMISSIONS>                                   23,632
<INVESTMENT-BANKING-REVENUES>                   19,707
<FEE-REVENUE>                                    8,865
<INTEREST-EXPENSE>                              11,957
<COMPENSATION>                                  47,675
<INCOME-PRETAX>                                 18,002
<INCOME-PRE-EXTRAORDINARY>                      18,002
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                    11,402
<EPS-PRIMARY>                                     0.35
<EPS-DILUTED>                                     0.35