<TABLE> <S> <C>

<ARTICLE> BD
<RESTATED>

<S>                             <C>                     <C>                     <C>                     <C>
<C>
<PERIOD-TYPE>                   YEAR                   3-MOS                   3-MOS                   3-MOS
YEAR
<FISCAL-YEAR-END>                          DEC-31-1996             DEC-31-1996             DEC-31-1996             DEC-31-1996
             DEC-31-1995
<PERIOD-END>                               DEC-31-1996             SEP-30-1996             JUN-30-1996             MAR-31-1996
             DEC-31-1995
<CASH>                                        11265000                19041000                10145000                 9688000
                10949000
<RECEIVABLES>                                305544000               307862000               501500000               337560000
               305749000
<SECURITIES-RESALE>                            2005000                  888000                  973000                 1809000
                 1016000
<SECURITIES-BORROWED>                        157314000               204868000               224085000               192353000
               265761000
<INSTRUMENTS-OWNED>                           39591000                34758000                37753000                34446000
                35834000
<PP&E>                                         1855000                 1620000                 1596000                 1557000
                 1595000
<TOTAL-ASSETS>                               519916000               571434000               615400000               550671000
               623466000
<SHORT-TERM>                                  24239000                24338000                34521000                14464000
                58021000
<PAYABLES>                                   147004000               134999000               149585000               109075000
               128189000
<REPOS-SOLD>                                         0                       0                       0                       0
                       0
<SECURITIES-LOANED>                          183010000               245085000               290166000               293957000
               303881000
<INSTRUMENTS-SOLD>                            32756000                23447000                15196000                19017000
                25940000
<LONG-TERM>                                      30000                   30000                   30000                   30000
                   30000
<PREFERRED-MANDATORY>                                0                       0                       0                       0
                       0
<PREFERRED>                                          0                       0                       0                       0
                       0
<COMMON>                                      39821000                39780000                39656000                39262000
                37646000
<OTHER-SE>                                    96056000                91174000                86246000                75202000
                69759000
<TOTAL-LIABILITY-AND-EQUITY>                 519916000               571434000               615400000               550671000
               623466000
<TRADING-REVENUE>                             80508000                15895000                33300000                23592000
                63238000
<INTEREST-DIVIDENDS>                          32981000                 7831000                 8345000                 8425000
                35399000
<COMMISSIONS>                                 73992000                14760000                17340000                17483000
                62543000
<INVESTMENT-BANKING-REVENUES>                  8672000                 1464000                 3251000                 1903000
                 3960000
<FEE-REVENUE>                                 14189000                 3656000                 3483000                 2614000
                10934000
<INTEREST-EXPENSE>                            16311000                 3924000                 4502000                 4795000
                21527000
<COMPENSATION>                               102059000                22616000                31439000                26686000
                88260000
<INCOME-PRETAX>                               53902000                 9612000                20907000                14177000
                34831000
<INCOME-PRE-EXTRAORDINARY>                    53902000                 9612000                20907000                14177000
                34831000
<EXTRAORDINARY>                                      0                       0                       0                       0
                       0
<CHANGES>                                            0                       0                       0                       0
                       0
<NET-INCOME>                                  30279000                 5554000                11657000                 7891000
                   20899
<EPS-PRIMARY>                                     2.46                    0.45                    0.95                    0.65
                    1.69
<EPS-DILUTED>                                     2.41                    0.44                    0.93                    0.64
                    1.68


</TABLE>