<ARTICLE> BD <RESTATED> <PERIOD-TYPE> 3-MOS 3-MOS 3-MOS <FISCAL-YEAR-END> DEC-31-1997 DEC-31-1997 DEC-31-1997 <PERIOD-END> SEP-30-1997 JUN-30-1997 MAR-31-1997 <CASH> 42977000 9565000 10875000 <RECEIVABLES> 409631000 313372000 299907000 <SECURITIES-RESALE> 4315000 2025000 2399000 <SECURITIES-BORROWED> 326466000 285393000 181772000 <INSTRUMENTS-OWNED> 55650000 44057000 35623000 <PP&E> 5320000 1919000 1898000 <TOTAL-ASSETS> 880523000 698987000 535924000 <SHORT-TERM> 22680000 17300000 7226000 <PAYABLES> 217544000 136232000 147892000 <REPOS-SOLD> 0 0 0 <SECURITIES-LOANED> 433265000 348749000 218372000 <INSTRUMENTS-SOLD> 52807000 38559000 19198000 <LONG-TERM> 30000 30000 30000 <PREFERRED-MANDATORY> 0 0 0 <PREFERRED> 0 0 0 <COMMON> 41398000 41398000 40827000 <OTHER-SE> 113299000 106133000 102043000 <TOTAL-LIABILITY-AND-EQUITY> 880523000 698987000 535924000 <TRADING-REVENUE> 17061000 11984000 17537000 <INTEREST-DIVIDENDS> 11681000 8573000 7406000 <COMMISSIONS> 34624000 18941000 18853000 <INVESTMENT-BANKING-REVENUES> 1240000 1422000 3160000 <FEE-REVENUE> 5104000 2585000 2865000 <INTEREST-EXPENSE> 5865000 4261000 3078000 <COMPENSATION> 37630000 22112000 24453000 <INCOME-PRETAX> 12671000 8109000 12734000 <INCOME-PRE-EXTRAORDINARY> 12671000 8109000 12734000 <EXTRAORDINARY> 0 0 0 <CHANGES> 0 0 0 <NET-INCOME> 7417000 4506000 7069000 <EPS-PRIMARY> 0.60 0.37 0.57 <EPS-DILUTED> 0.57 0.35 0.55