<ARTICLE> BD <RESTATED> <PERIOD-TYPE> YEAR 3-MOS 3-MOS 3-MOS YEAR <FISCAL-YEAR-END> DEC-31-1996 DEC-31-1996 DEC-31-1996 DEC-31-1996 DEC-31-1995 <PERIOD-END> DEC-31-1996 SEP-30-1996 JUN-30-1996 MAR-31-1996 DEC-31-1995 <CASH> 11265000 19041000 10145000 9688000 10949000 <RECEIVABLES> 305544000 307862000 501500000 337560000 305749000 <SECURITIES-RESALE> 2005000 888000 973000 1809000 1016000 <SECURITIES-BORROWED> 157314000 204868000 224085000 192353000 265761000 <INSTRUMENTS-OWNED> 39591000 34758000 37753000 34446000 35834000 <PP&E> 1855000 1620000 1596000 1557000 1595000 <TOTAL-ASSETS> 519916000 571434000 615400000 550671000 623466000 <SHORT-TERM> 24239000 24338000 34521000 14464000 58021000 <PAYABLES> 147004000 134999000 149585000 109075000 128189000 <REPOS-SOLD> 0 0 0 0 0 <SECURITIES-LOANED> 183010000 245085000 290166000 293957000 303881000 <INSTRUMENTS-SOLD> 32756000 23447000 15196000 19017000 25940000 <LONG-TERM> 30000 30000 30000 30000 30000 <PREFERRED-MANDATORY> 0 0 0 0 0 <PREFERRED> 0 0 0 0 0 <COMMON> 39821000 39780000 39656000 39262000 37646000 <OTHER-SE> 96056000 91174000 86246000 75202000 69759000 <TOTAL-LIABILITY-AND-EQUITY> 519916000 571434000 615400000 550671000 623466000 <TRADING-REVENUE> 80508000 15895000 33300000 23592000 63238000 <INTEREST-DIVIDENDS> 32981000 7831000 8345000 8425000 35399000 <COMMISSIONS> 73992000 14760000 17340000 17483000 62543000 <INVESTMENT-BANKING-REVENUES> 8672000 1464000 3251000 1903000 3960000 <FEE-REVENUE> 14189000 3656000 3483000 2614000 10934000 <INTEREST-EXPENSE> 16311000 3924000 4502000 4795000 21527000 <COMPENSATION> 102059000 22616000 31439000 26686000 88260000 <INCOME-PRETAX> 53902000 9612000 20907000 14177000 34831000 <INCOME-PRE-EXTRAORDINARY> 53902000 9612000 20907000 14177000 34831000 <EXTRAORDINARY> 0 0 0 0 0 <CHANGES> 0 0 0 0 0 <NET-INCOME> 30279000 5554000 11657000 7891000 20899 <EPS-PRIMARY> 2.46 0.45 0.95 0.65 1.69 <EPS-DILUTED> 2.41 0.44 0.93 0.64 1.68