<ARTICLE>                                           BD
<LEGEND>
     This schedule contains summary financial information extracted from the 
Company's Consolidated Statement of Financial Condition at August 31, 1998
(Unaudited) and the Consolidated Statement of Income for the nine months ended 
August 31, 1998 (Unaudited) and is qualified in its entirety by reference to 
such financial statements. 
</LEGEND>
       
                                            
<PERIOD-TYPE>                                  9-MOS 
<FISCAL-YEAR-END>                              NOV-30-1998
<PERIOD-START>                                 DEC-01-1997
<PERIOD-END>                                   AUG-31-1998
<CASH>                                         6,337
<RECEIVABLES>                                  13,235
<SECURITIES-RESALE>                            57,287
<SECURITIES-BORROWED>                          21,815
<INSTRUMENTS-OWNED>                            90,709
<PP&E>                                         483
<TOTAL-ASSETS>                                 191,074
<SHORT-TERM>                                   12,703
<PAYABLES>                                     16,041
<REPOS-SOLD>                                   84,496
<SECURITIES-LOANED>                            6,110
<INSTRUMENTS-SOLD>                             33,818
<LONG-TERM>                                    28,381
<PREFERRED-MANDATORY>                          0
<PREFERRED>                                    958
<COMMON>                                       12
<OTHER-SE>                                     4,379
<TOTAL-LIABILITY-AND-EQUITY>                   191,074
<TRADING-REVENUE>                              1,142
<INTEREST-DIVIDENDS>                           13,235
<COMMISSIONS>                                  378
<INVESTMENT-BANKING-REVENUES>                  1,336
<FEE-REVENUE>                                  0
<INTEREST-EXPENSE>                             12,649
<COMPENSATION>                                 1,749
<INCOME-PRETAX>                                958
<INCOME-PRE-EXTRAORDINARY>                     662
<EXTRAORDINARY>                                0
<CHANGES>                                      0
<NET-INCOME>                                   662
<EPS-PRIMARY>                                  4.86
<EPS-DILUTED>                                  4.67