EXHIBIT 23                                                                     
                                                                               
                                                                               
                                                                               
                                                                         
                                                                               
                                                                               
                       CONSENT OF INDEPENDENT AUDITORS                         
                                                                               
                                                                               
The Board of Directors                                                         
Alex. Brown Incorporated:                                                      
                                                                               
  We  consent  to  incorporation  by  reference in the Registration Statements 
(Nos.  33-23789,  33-26988,  33-40618,  33-40619, 33-45715, 33-46282 and 
33-67050)  on  Forms  S-8  of  Alex.  Brown Incorporated of our reports dated 
January  24,  1994,  relating  to  the  consolidated  statements  of financial 
condition of Alex. Brown Incorporated and subsidiaries as of December 31, 1993 
and  1992,  and the related consolidated statements of earnings, stockholders' 
equity  and  cash  flows  and  related  schedules for each of the years in the 
three-year  period  ended  December  31,  1993, which reports appear in or are 
incorporated by reference in the December 31, 1993 annual report on Form 10-K 
of Alex. Brown Incorporated.                                                   
                                                                               
                                                                               
                                      KPMG Peat Marwick                        
                                                                               
Baltimore, Maryland                                                            
March 25, 1994