<ARTICLE> 5
<LEGEND> This schedule contains summary financial information extracted from 
The Arthur J. Gallagher & Co. Consolidated Financial Statements included in the 
1997 second quarter Form 10Q and is qualified in its entirety by reference to 
such financial statements. 
</LEGEND>
<RESTATED> 
<MULTIPLIER> 1,000
       
                                                    
<PERIOD-TYPE>                   6-MOS                    6-MOS
<FISCAL-YEAR-END>                         DEC-31-1997              DEC-31-1996
<PERIOD-START>                            JAN-01-1997              JAN-01-1996
<PERIOD-END>                              JUN-30-1997              JUN-30-1996
<CASH>                                        161,239                  138,014 
<SECURITIES>                                   57,142                   52,127
<RECEIVABLES>                                 218,403                  243,250
<ALLOWANCES>                                    (853)                    (720)
<INVENTORY>                                         0                        0
<CURRENT-ASSETS>                              471,013                  458,380
<PP&E>                                         82,738                   77,132
<DEPRECIATION>                               (56,788)                 (51,482)
<TOTAL-ASSETS>                                606,837                  572,751
<CURRENT-LIABILITIES>                         457,317                  445,289
<BONDS>                                             0                        0
<PREFERRED-MANDATORY>                               0                        0
<PREFERRED>                                         0                        0
<COMMON>                                       16,351                   16,271
<OTHER-SE>                                    121,452                   99,254
<TOTAL-LIABILITY-AND-EQUITY>                  606,837                  572,751
<SALES>                                       211,622                  205,826
<TOTAL-REVENUES>                              228,055                  218,018
<CGS>                                         119,198                  120,184
<TOTAL-COSTS>                                 119,198                  120,184
<OTHER-EXPENSES>                               75,478                   72,239
<LOSS-PROVISION>                                    0                        0
<INTEREST-EXPENSE>                                  0                        0
<INCOME-PRETAX>                                33,379                   25,595
<INCOME-TAX>                                   11,349                   10,060
<INCOME-CONTINUING>                            22,030                   15,535
<DISCONTINUED>                                      0                        0
<EXTRAORDINARY>                                     0                        0
<CHANGES>                                           0                        0
<NET-INCOME>                                   22,030                   15,535
<EPS-PRIMARY>                                    1.26                      .89
<EPS-DILUTED>                                    1.26                      .89