<ARTICLE> BD
 <LEGEND>
 This Schedule contains summary financial
 information extracted from the financial
 statements contained in the body of the
 accompanying Form 10-K and is qualified in its
 entirety by reference to such financial
 statements.
 </LEGEND>
 <MULTIPLIER>                   1,000
        
                             
 <PERIOD-TYPE>                  YEAR
 <FISCAL-YEAR-END>              JUN-30-1994
 <PERIOD-END>                   JUN-30-1994
 <CASH>                         294,604
 <RECEIVABLES>                  8,425,184
 <SECURITIES-RESALE>            19,515,764
 <SECURITIES-BORROWED>          21,073,208
 <INSTRUMENTS-OWNED>            14,443,918
 <PP&E>                         271,807
 <TOTAL-ASSETS>                 67,392,018
 <SHORT-TERM>                   7,860,311
 <PAYABLES>                     17,385,311
 <REPOS-SOLD>                   26,863,122
 <SECURITIES-LOANED>            124,037
 <INSTRUMENTS-SOLD>             8,351,258
 <LONG-TERM>                    3,408,096
 <PREFERRED-MANDATORY>          0
 <PREFERRED>                    437,500
 <COMMON>                       144,965
 <OTHER-SE>                     1,584,101
 <TOTAL-LIABILITY-AND-EQUITY>   67,392,018
 <TRADING-REVENUE>              1,131,914
 <INTEREST-DIVIDENDS>           1,304,392
 <COMMISSIONS>                  482,988
 <INVESTMENT-BANKING-REVENUES>  493,739
 <FEE-REVENUE>                  0
 <INTEREST-EXPENSE>             1,020,055
 <COMPENSATION>                 1,227,061
 <INCOME-PRETAX>                642,799
 <INCOME-PRE-EXTRAORDINARY>     642,799
 <EXTRAORDINARY>                0
 <CHANGES>                      0
 <NET-INCOME>                   386,965
 <EPS-PRIMARY>                  3.89
 <EPS-DILUTED>                  3.89