<ARTICLE>                                           BD
<LEGEND>

This  schedule  contains  summary  financial   information  extracted  from  the
unaudited  Consolidated  Statement of Financial  Condition at March 27, 1998 and
the unaudited  Consolidated  Statement of Income for the nine-months  ended March
27, 1998 which are  contained in the body of the  accompanying  Form 10-Q and is
qualified in its entirety by reference to such financial statements.

</LEGEND>                    
<MULTIPLIER>                                   1,000
       
                                           
<PERIOD-TYPE>                                 9-MOS
<FISCAL-YEAR-END>                             JUN-30-1998
<PERIOD-END>                                  MAR-27-1998
<CASH>                                            383,836
<RECEIVABLES>                                  15,459,673
<SECURITIES-RESALE>                            38,069,683
<SECURITIES-BORROWED>                          52,555,867
<INSTRUMENTS-OWNED>                            50,340,391
<PP&E>                                            454,615
<TOTAL-ASSETS>                                166,374,302
<SHORT-TERM>                                   16,460,605
<PAYABLES>                                     42,314,508
<REPOS-SOLD>                                   53,167,994
<SECURITIES-LOANED>                                     0
<INSTRUMENTS-SOLD>                             27,565,223
<LONG-TERM>                                    12,160,379
<PREFERRED-MANDATORY>                                   0
<PREFERRED>                                       687,500
<COMMON>                                          167,785
<OTHER-SE>                                      2,967,059
<TOTAL-LIABILITY-AND-EQUITY>                  166,374,302
<TRADING-REVENUE>                               1,234,768
<INTEREST-DIVIDENDS>                            3,083,071
<COMMISSIONS>                                     670,007
<INVESTMENT-BANKING-REVENUES>                     695,619
<FEE-REVENUE>                                           0
<INTEREST-EXPENSE>                              2,613,611
<COMPENSATION>                                  1,548,244
<INCOME-PRETAX>                                   792,466
<INCOME-PRE-EXTRAORDINARY>                        792,466
<EXTRAORDINARY>                                         0
<CHANGES>                                               0
<NET-INCOME>                                      488,159
<EPS-PRIMARY>                                        3.37
<EPS-DILUTED>                                        3.37