<ARTICLE> 9
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
CONSOLIDATED FINANCIAL STATEMENTS AS OF AND FOR THE QUARTER ENDED
JUNE 30, 1997 INCLUDED IN THE J.P. MORGAN & CO. INCORPORATED FORM 10-Q.
</LEGEND>
<MULTIPLIER> 1,000,000
       
                             
<PERIOD-TYPE>                   3-MOS
<FISCAL-YEAR-END>                          DEC-31-1997
<PERIOD-START>                             APR-01-1997
<PERIOD-END>                               JUN-30-1997
<CASH>                                             752
<INT-BEARING-DEPOSITS>                           2,054
<FED-FUNDS-SOLD>                                36,425
<TRADING-ASSETS>                               105,825
<INVESTMENTS-HELD-FOR-SALE>                     24,936
<INVESTMENTS-CARRYING>                               0
<INVESTMENTS-MARKET>                                 0
<LOANS>                                         29,294
<ALLOWANCE>                                        560
<TOTAL-ASSETS>                                 250,490
<DEPOSITS>                                      56,977
<SHORT-TERM>                                    91,368
<LIABILITIES-OTHER>                             71,786
<LONG-TERM>                                     19,011
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                        694
<COMMON>                                           502
<OTHER-SE>                                      10,152
<TOTAL-LIABILITIES-AND-EQUITY>                 250,490
<INTEREST-LOAN>                                    494
<INTEREST-INVEST>                                  387
<INTEREST-OTHER>                                 2,148
<INTEREST-TOTAL>                                 3,029
<INTEREST-DEPOSIT>                                 670
<INTEREST-EXPENSE>                               2,534
<INTEREST-INCOME-NET>                              495
<LOAN-LOSSES>                                        0
<SECURITIES-GAINS>                                 125
<EXPENSE-OTHER>                                  1,241
<INCOME-PRETAX>                                    550
<INCOME-PRE-EXTRAORDINARY>                         374
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                       374
<EPS-PRIMARY>                                     1.85
<EPS-DILUTED>                                     1.84
<YIELD-ACTUAL>                                    1.06
<LOANS-NON>                                        106
<LOANS-PAST>                                         0
<LOANS-TROUBLED>                                     0
<LOANS-PROBLEM>                                      0
<ALLOWANCE-OPEN>                                 1,113
<CHARGE-OFFS>                                       15
<RECOVERIES>                                        12
<ALLOWANCE-CLOSE>                                1,110
<ALLOWANCE-DOMESTIC>                               137
<ALLOWANCE-FOREIGN>                                 54
<ALLOWANCE-UNALLOCATED>                            919