<ARTICLE> 5 <PERIOD-TYPE> YEAR <FISCAL-YEAR-END> JUN-30-1996 <PERIOD-END> JUN-30-1996 <CASH> 1,587,300 <SECURITIES> 144,328,800 <RECEIVABLES> 16,876,300 <ALLOWANCES> (409,300) <INVENTORY> 0 <CURRENT-ASSETS> 237,696,700 <PP&E> 2,492,900 <DEPRECIATION> (2,213,400) <TOTAL-ASSETS> 239,887,700 <CURRENT-LIABILITIES> 233,671,200 <BONDS> 0 <PREFERRED-MANDATORY> 0 <PREFERRED> 400,000 <COMMON> 134,500 <OTHER-SE> 5,682,000 <TOTAL-LIABILITY-AND-EQUITY> 239,887,700 <SALES> 30,606,500 <TOTAL-REVENUES> 41,134,900 <CGS> 0 <TOTAL-COSTS> 16,825,600 <OTHER-EXPENSES> 21,237,000 <LOSS-PROVISION> 140,600 <INTEREST-EXPENSE> 4,238,900 <INCOME-PRETAX> (1,307,200) <INCOME-TAX> (174,100) <INCOME-CONTINUING> (1,133,100) <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> (1,133,100) <EPS-PRIMARY> (.03) <EPS-DILUTED> (.03)