<ARTICLE> BD
<LEGEND>
This schedule contains summary financial information extracted from
the Morgan Keegan, Inc. Form 10-Q for the quarter ended October 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-31-1999
<PERIOD-END>                               OCT-31-1998
<CASH>                                          18,979
<RECEIVABLES>                                  425,918
<SECURITIES-RESALE>                            403,592
<SECURITIES-BORROWED>                           13,821
<INSTRUMENTS-OWNED>                            376,938
<PP&E>                                          24,589
<TOTAL-ASSETS>                               1,329,324
<SHORT-TERM>                                   109,600
<PAYABLES>                                     707,199
<REPOS-SOLD>                                   114,374
<SECURITIES-LOANED>                              6,899
<INSTRUMENTS-SOLD>                              13,555
<LONG-TERM>                                          0
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<COMMON>                                        20,173
<OTHER-SE>                                     236,784
<TOTAL-LIABILITY-AND-EQUITY>                 1,329,324
<TRADING-REVENUE>                               33,411
<INTEREST-DIVIDENDS>                            18,149
<COMMISSIONS>                                   26,910
<INVESTMENT-BANKING-REVENUES>                    9,964
<FEE-REVENUE>                                    7,982
<INTEREST-EXPENSE>                              10,792
<COMPENSATION>                                  49,377
<INCOME-PRETAX>                                 16,046
<INCOME-PRE-EXTRAORDINARY>                      16,046
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                     9,746
<EPS-PRIMARY>                                     0.30
<EPS-DILUTED>                                     0.30