<ARTICLE> BD <PERIOD-TYPE> 12-MOS <FISCAL-YEAR-END> JUN-30-1998 <PERIOD-START> JUL-01-1997 <PERIOD-END> JUN-30-1998 <CASH> 985,182 <RECEIVABLES> 1,648,071 <SECURITIES-RESALE> 0 <SECURITIES-BORROWED> 0 <INSTRUMENTS-OWNED> 546,084 <PP&E> 591,859 <TOTAL-ASSETS> 4,278,938 <SHORT-TERM> 0 <PAYABLES> 1,724,291 <REPOS-SOLD> 0 <SECURITIES-LOANED> 0 <INSTRUMENTS-SOLD> 378,067 <LONG-TERM> 0 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <COMMON> 15,469 <OTHER-SE> 2,161,111 <TOTAL-LIABILITY-AND-EQUITY> 4,278,938 <TRADING-REVENUE> (392,558) <INTEREST-DIVIDENDS> 0 <COMMISSIONS> 16,619,453 <INVESTMENT-BANKING-REVENUES> 0 <FEE-REVENUE> 0 <INTEREST-EXPENSE> 0 <COMPENSATION> 0 <INCOME-PRETAX> 703,863 <INCOME-PRE-EXTRAORDINARY> 211,000 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> 492,863 <EPS-PRIMARY> .05 <EPS-DILUTED> 0