<ARTICLE> BD
<LEGEND>
This schedule contains summary financial information extracted from the
Morgan Keegan, Inc. Form 10-Q for the quarter ended January 31, 1999, 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>                               JAN-31-1999
<CASH>                                          16,525
<RECEIVABLES>                                  491,268
<SECURITIES-RESALE>                            504,584
<SECURITIES-BORROWED>                           17,540
<INSTRUMENTS-OWNED>                            483,885
<PP&E>                                          24,440
<TOTAL-ASSETS>                               1,609,890
<SHORT-TERM>                                   140,900
<PAYABLES>                                     841,844
<REPOS-SOLD>                                   171,761
<SECURITIES-LOANED>                              3,895
<INSTRUMENTS-SOLD>                              49,336
<LONG-TERM>                                          0
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<COMMON>                                        20,467
<OTHER-SE>                                     248,400
<TOTAL-LIABILITY-AND-EQUITY>                 1,609,890
<TRADING-REVENUE>                               37,958
<INTEREST-DIVIDENDS>                            18,948
<COMMISSIONS>                                   30,050
<INVESTMENT-BANKING-REVENUES>                   11,065
<FEE-REVENUE>                                    9,145
<INTEREST-EXPENSE>                              11,491
<COMPENSATION>                                  55,553
<INCOME-PRETAX>                                 19,238
<INCOME-PRE-EXTRAORDINARY>                      19,238
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                    11,738
<EPS-PRIMARY>                                     0.36
<EPS-DILUTED>                                     0.36