<ARTICLE>                                           BD
       
                             
<PERIOD-TYPE>                   12-MOS
<FISCAL-YEAR-END>                            SEP-30-1998
<PERIOD-START>                               OCT-01-1997
<PERIOD-END>                                 SEP-30-1998
<CASH>                                            34,307
<RECEIVABLES>                                    390,706
<SECURITIES-RESALE>                               42,372
<SECURITIES-BORROWED>                              4,319
<INSTRUMENTS-OWNED>                              108,720
<PP&E>                                            12,653
<TOTAL-ASSETS>                                   652,291
<SHORT-TERM>                                      18,855
<PAYABLES>                                       330,340
<REPOS-SOLD>                                      55,061
<SECURITIES-LOANED>                                    0
<INSTRUMENTS-SOLD>                                41,787
<LONG-TERM>                                       34,295
<PREFERRED-MANDATORY>                                  0
<PREFERRED>                                            0
<COMMON>                                           1,433
<OTHER-SE>                                       102,127
<TOTAL-LIABILITY-AND-EQUITY>                     652,291
<TRADING-REVENUE>                                  5,870
<INTEREST-DIVIDENDS>                              38,507
<COMMISSIONS>                                    192,292
<INVESTMENT-BANKING-REVENUES>                     10,026
<FEE-REVENUE>                                     21,435
<INTEREST-EXPENSE>                                21,584
<COMPENSATION>                                   176,127
<INCOME-PRETAX>                                   23,197
<INCOME-PRE-EXTRAORDINARY>                        23,197
<EXTRAORDINARY>                                        0
<CHANGES>                                              0
<NET-INCOME>                                      14,739
<EPS-PRIMARY>                                       2.47
<EPS-DILUTED>                                       2.16