WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.

  

<ARTICLE> BD
       
                             
<PERIOD-TYPE>                   9-MOS
<FISCAL-YEAR-END>                          NOV-30-1997
<PERIOD-END>                               AUG-31-1997
<CASH>                                          12,868
<RECEIVABLES>                                   39,964
<SECURITIES-RESALE>                             80,705
<SECURITIES-BORROWED>                           55,154
<INSTRUMENTS-OWNED>                             85,250
<PP&E>                                           1,680
<TOTAL-ASSETS>                                 282,480
<SHORT-TERM>                                    31,215
<PAYABLES>                                      28,907
<REPOS-SOLD>                                   104,590
<SECURITIES-LOANED>                             15,682
<INSTRUMENTS-SOLD>                              54,506
<LONG-TERM>                                     25,196
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                        876
<COMMON>                                             6
<OTHER-SE>                                      11,905
<TOTAL-LIABILITY-AND-EQUITY>                   282,480
<TRADING-REVENUE>                                2,369
<INTEREST-DIVIDENDS>                            10,136
<COMMISSIONS>                                    1,533
<INVESTMENT-BANKING-REVENUES>                    1,921
<FEE-REVENUE>                                    3,728
<INTEREST-EXPENSE>                               7,952
<COMPENSATION>                                   4,844
<INCOME-PRETAX>                                  2,917
<INCOME-PRE-EXTRAORDINARY>                       2,917
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                     1,776
<EPS-PRIMARY>                                     2.91
<EPS-DILUTED>                                     2.84