<ARTICLE> 5
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM FORM 10-Q
FOR THE SIX MONTHS ENDED JUNE 30, 1995 AND IS QUALIFIED IN ITS ENTIRETY BY
REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<MULTIPLIER> 1,000
       
                             
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          DEC-31-1995
<PERIOD-END>                               JUN-30-1995
<CASH>                                          60,250
<SECURITIES>                                   905,113
<RECEIVABLES>                                  138,491
<ALLOWANCES>                                         0
<INVENTORY>                                          0
<CURRENT-ASSETS>                             1,147,499
<PP&E>                                         129,925
<DEPRECIATION>                                       0
<TOTAL-ASSETS>                               1,973,301
<CURRENT-LIABILITIES>                        1,037,620
<BONDS>                                              0
<COMMON>                                           448
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<OTHER-SE>                                     511,085
<TOTAL-LIABILITY-AND-EQUITY>                 1,973,301
<SALES>                                              0
<TOTAL-REVENUES>                               336,795
<CGS>                                                0
<TOTAL-COSTS>                                  288,340
<OTHER-EXPENSES>                                 2,819
<LOSS-PROVISION>                                     0
<INTEREST-EXPENSE>                               6,274
<INCOME-PRETAX>                                 39,362
<INCOME-TAX>                                    16,138
<INCOME-CONTINUING>                             23,224
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                    23,224
<EPS-PRIMARY>                                      .55
<EPS-DILUTED>                                      .55