<ARTICLE>                                          5
<LEGEND>
This schedule  contains summary  financial  information  extracted from the June
1996 10-Q and is qualified in its entirety by reference to such information.
</LEGEND>
<MULTIPLIER>                                                  1000
       
                                                  
<PERIOD-TYPE>                                      6-mos
<FISCAL-YEAR-END>                                  DEC-31-1996
<PERIOD-END>                                       JUN-30-1996
<CASH>                                                      61,396
<SECURITIES>                                               971,652
<RECEIVABLES>                                              158,760
<ALLOWANCES>                                                     0
<INVENTORY>                                                      0
<CURRENT-ASSETS>                                         1,232,185
<PP&E>                                                     146,010
<DEPRECIATION>                                                   0
<TOTAL-ASSETS>                                           1,886,570
<CURRENT-LIABILITIES>                                    1,122,324
<BONDS>                                                          0
<PREFERRED-MANDATORY>                                            0
<PREFERRED>                                                      0
<COMMON>                                                       451
<OTHER-SE>                                                 467,474
<TOTAL-LIABILITY-AND-EQUITY>                             1,886,570
<SALES>                                                          0
<TOTAL-REVENUES>                                           391,174
<CGS>                                                            0
<TOTAL-COSTS>                                              320,743
<OTHER-EXPENSES>                                             9,074
<LOSS-PROVISION>                                                 0
<INTEREST-EXPENSE>                                          10,731
<INCOME-PRETAX>                                             50,626
<INCOME-TAX>                                                20,757
<INCOME-CONTINUING>                                         29,869
<DISCONTINUED>                                                   0
<EXTRAORDINARY>                                                  0
<CHANGES>                                                        0
<NET-INCOME>                                                29,869
<EPS-PRIMARY>                                                    0.65
<EPS-DILUTED>                                                    0.65