<ARTICLE> BD <PERIOD-TYPE> 3-MOS 9-MOS <FISCAL-YEAR-END> AUG-31-1996 AUG-31-1996 <PERIOD-END> MAY-31-1996 MAY-31-1996 <CASH> 22816004 22816004 <RECEIVABLES> 543277627 543277627 <SECURITIES-RESALE> 0 0 <SECURITIES-BORROWED> 0 0 <INSTRUMENTS-OWNED> 576244589 576244589 <PP&E> 9447329 9447329 <TOTAL-ASSETS> 1233659976 1233659976 <SHORT-TERM> 89512966 89512966 <PAYABLES> 217314303 217314303 <REPOS-SOLD> 0 0 <SECURITIES-LOANED> 187724045 187724045 <INSTRUMENTS-SOLD> 0 0 <LONG-TERM> 48411000 48411000 <PREFERRED-MANDATORY> 0 0 <PREFERRED> 0 0 <COMMON> 117512 117512 <OTHER-SE> 90500684 90500684 <TOTAL-LIABILITY-AND-EQUITY> 1233659976 1233659976 <TRADING-REVENUE> 0 0 <INTEREST-DIVIDENDS> 16796805 43812738 <COMMISSIONS> 48041863 121619719 <INVESTMENT-BANKING-REVENUES> 0 0 <FEE-REVENUE> 3474244 9788084 <INTEREST-EXPENSE> 10003776 25397608 <COMPENSATION> 17348830 45802785 <INCOME-PRETAX> 17020999 42698410 <INCOME-PRE-EXTRAORDINARY> 8622063 22770002 <EXTRAORDINARY> 0 0 <CHANGES> 0 0 <NET-INCOME> 8622063 22770002 <EPS-PRIMARY> .72 1.93 <EPS-DILUTED> .65 1.72