<ARTICLE> BD
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
CONSOLIDATED BALANCE SHEEET OF PAULSON CAPITAL CORP. AND SUBSIDIARY AS OF
JUNE 30, 1995 AND THE RELATED CONSOLIDATED STATEMENTS OF OPERATIONS,
SHAREHOLDERS' EQUITY AND CASH FLOWS FOR THE SIX MONTHS IN THE PERIOD
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-31-1994
<PERIOD-END>                               JUN-30-1995
<CASH>                                             422
<RECEIVABLES>                                    3,227
<SECURITIES-RESALE>                                  0
<SECURITIES-BORROWED>                                0
<INSTRUMENTS-OWNED>                              1,280
<PP&E>                                             138
<TOTAL-ASSETS>                                   5,440
<SHORT-TERM>                                       115
<PAYABLES>                                       2,257
<REPOS-SOLD>                                         0
<SECURITIES-LOANED>                                  0
<INSTRUMENTS-SOLD>                                 929
<LONG-TERM>                                          0
<COMMON>                                           776
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<OTHER-SE>                                       1,328
<TOTAL-LIABILITY-AND-EQUITY>                     5,440
<TRADING-REVENUE>                                  114
<INTEREST-DIVIDENDS>                                10
<COMMISSIONS>                                    4,705
<INVESTMENT-BANKING-REVENUES>                    1,367
<FEE-REVENUE>                                        0
<INTEREST-EXPENSE>                                   3
<COMPENSATION>                                   4,592
<INCOME-PRETAX>                                    171
<INCOME-PRE-EXTRAORDINARY>                         171
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                       103
<EPS-PRIMARY>                                      .02
<EPS-DILUTED>                                      .02