<ARTICLE> BD <PERIOD-TYPE> 9-MOS <FISCAL-YEAR-END> JUN-30-1998 <PERIOD-START> JUL-01-1997 <PERIOD-END> MAR-31-1998 <CASH> 603,586 <RECEIVABLES> 560,088 <SECURITIES-RESALE> 0 <SECURITIES-BORROWED> 0 <INSTRUMENTS-OWNED> 1,350,841 <PP&E> 508,510 <TOTAL-ASSETS> 3,181,772 <SHORT-TERM> 0 <PAYABLES> 783,302 <REPOS-SOLD> 0 <SECURITIES-LOANED> 0 <INSTRUMENTS-SOLD> 434,242 <LONG-TERM> 0 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <COMMON> 225 <OTHER-SE> 1,964,003 <TOTAL-LIABILITY-AND-EQUITY> 3,181,772 <TRADING-REVENUE> (147,105) <INTEREST-DIVIDENDS> 0 <COMMISSIONS> 12,423,182 <INVESTMENT-BANKING-REVENUES> 0 <FEE-REVENUE> 0 <INTEREST-EXPENSE> 0 <COMPENSATION> 0 <INCOME-PRETAX> 364,511 <INCOME-PRE-EXTRAORDINARY> 84,000 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> 280,511 <EPS-PRIMARY> .02 <EPS-DILUTED> 0