<ARTICLE>                                          5
<LEGEND>
This schedule  contains summary  financial  information  extracted from the June
1997 10-Q and is qualified in its entirety by reference to such information.
</LEGEND>
<MULTIPLIER>                                                  1000
       
                                                  
<PERIOD-TYPE>                                      6-mos
<FISCAL-YEAR-END>                                  DEC-31-1997
<PERIOD-END>                                       JUN-30-1997
<CASH>                                                      71,763
<SECURITIES>                                               944,653
<RECEIVABLES>                                              177,880
<ALLOWANCES>                                                     0
<INVENTORY>                                                      0
<CURRENT-ASSETS>                                         2,112,658
<PP&E>                                                     148,611
<DEPRECIATION>                                                   0
<TOTAL-ASSETS>                                           2,861,300
<CURRENT-LIABILITIES>                                    1,957,098
<BONDS>                                                          0
<PREFERRED-MANDATORY>                                            0
<PREFERRED>                                                      0
<COMMON>                                                       523
<OTHER-SE>                                                 659,580
<TOTAL-LIABILITY-AND-EQUITY>                             2,861,300
<SALES>                                                          0
<TOTAL-REVENUES>                                           466,705
<CGS>                                                            0
<TOTAL-COSTS>                                              380,565
<OTHER-EXPENSES>                                             5,705
<LOSS-PROVISION>                                                 0
<INTEREST-EXPENSE>                                           6,828
<INCOME-PRETAX>                                             73,607
<INCOME-TAX>                                                30,179
<INCOME-CONTINUING>                                         43,428
<DISCONTINUED>                                                   0
<EXTRAORDINARY>                                                  0
<CHANGES>                                                        0
<NET-INCOME>                                                43,428
<EPS-PRIMARY>                                                    0.82
<EPS-DILUTED>                                                    0.82