<ARTICLE> 5
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE 
FINANCIAL STATEMENTS OF ST JOE CORPORATION FOR THE THREE MONTHS ENDED MARCH 31,
1998 AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<MULTIPLIER> 1,000
       
                                                  
<PERIOD-TYPE>                   3-MOS                   
<FISCAL-YEAR-END>                          DEC-31-1998  
<PERIOD-START>                             JAN-01-1998  
<PERIOD-END>                               MAR-31-1998  
<CASH>                                         147,941  
<SECURITIES>                                    48,971  
<RECEIVABLES>                                   67,677  
<ALLOWANCES>                                         0  
<INVENTORY>                                     14,339  
<CURRENT-ASSETS>                               300,483
<PP&E>                                       1,210,496  
<DEPRECIATION>                                (342,138) 
<TOTAL-ASSETS>                               1,582,594  
<CURRENT-LIABILITIES>                           57,587  
<BONDS>                                              0  
<PREFERRED-MANDATORY>                                0  
<PREFERRED>                                          0  
<COMMON>                                        13,054  
<OTHER-SE>                                     910,281  
<TOTAL-LIABILITY-AND-EQUITY>                 1,582,594  
<SALES>                                         36,323  
<TOTAL-REVENUES>                                95,518  
<CGS>                                           26,736  
<TOTAL-COSTS>                                   83,029  
<OTHER-EXPENSES>                                     0  
<LOSS-PROVISION>                                     0  
<INTEREST-EXPENSE>                                 (86) 
<INCOME-PRETAX>                                 20,351  
<INCOME-TAX>                                     9,104  
<INCOME-CONTINUING>                              7,481  
<DISCONTINUED>                                       0  
<EXTRAORDINARY>                                      0  
<CHANGES>                                            0  
<NET-INCOME>                                     7,481  
<EPS-PRIMARY>                                     0.08  
<EPS-DILUTED>                                     0.08