<ARTICLE> BD <PERIOD-TYPE> 12-MOS 12-MOS <FISCAL-YEAR-END> DEC-31-1997 DEC-31-1996 <PERIOD-START> JAN-01-1997 JAN-01-1996 <PERIOD-END> DEC-31-1997 DEC-31-1996 <CASH> 0 0 <RECEIVABLES> 514,158 779,075 <SECURITIES-RESALE> 0 0 <SECURITIES-BORROWED> 0 0 <INSTRUMENTS-OWNED> 63,024,164 60,834,087 <PP&E> 0 0 <TOTAL-ASSETS> 63,538,322 61,613,162 <SHORT-TERM> 0 0 <PAYABLES> 514,158 779,074 <REPOS-SOLD> 0 0 <SECURITIES-LOANED> 0 0 <INSTRUMENTS-SOLD> 0 0 <LONG-TERM> 0 0 <PREFERRED-MANDATORY> 0 0 <PREFERRED> 0 0 <COMMON> 0 0 <OTHER-SE> 63,024,164 60,834,088 <TOTAL-LIABILITY-AND-EQUITY> 63,538,322 61,613,162 <TRADING-REVENUE> 0 6,989,192 <INTEREST-DIVIDENDS> 0 1,842,887 <COMMISSIONS> 0 5,406,851 <INVESTMENT-BANKING-REVENUES> 0 0 <FEE-REVENUE> 0 0 <INTEREST-EXPENSE> 0 0 <COMPENSATION> 0 0 <INCOME-PRETAX> 7,357,688 10,384,330 <INCOME-PRE-EXTRAORDINARY> 7,357,688 10,384,330 <EXTRAORDINARY> 0 0 <CHANGES> 0 0 <NET-INCOME> 7,357,688 10,384,330 <EPS-PRIMARY> 24.97 31.67 <EPS-DILUTED> 24.97 31.67