<TABLE> <S> <C>


<ARTICLE>                     5
<LEGEND>
     THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION ECTRACTED FROM THE
STATEMENTS OF FINANCIAL CONDITION AND STATEMENTS OF INCOME FOUND ON PAGES 3 AND
4 OF THE PARTNERSHIP'S FORM 10-Q FOR THE YEAR-TO-DATE, AND IS QUALIFIED IN ITS
ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<CIK>                         0000814562
<NAME>                        OPPENHEIMER CAPITAL, L.P.
<MULTIPLIER>                  1,000
       
<S>                           <C>
<PERIOD-TYPE>                 3-MOS
<FISCAL-YEAR-END>                                  APR-30-1998
<PERIOD-START>                                     MAY-01-1997
<PERIOD-END>                                       JUL-31-1997
<CASH>                                                     101
<SECURITIES>                                                 0
<RECEIVABLES>                                                0
<ALLOWANCES>                                                 0
<INVENTORY>                                                  0
<CURRENT-ASSETS>                                        14,689<F1>
<PP&E>                                                       0
<DEPRECIATION>                                               0
<TOTAL-ASSETS>                                         118,313<F2>
<CURRENT-LIABILITIES>                                   14,806
<BONDS>                                                      0
<PREFERRED-MANDATORY>                                        0
<PREFERRED>                                                  0
<COMMON>                                                     0 
<OTHER-SE>                                             103,507<F3>
<TOTAL-LIABILITY-AND-EQUITY>                           118,313
<SALES>                                                      0
<TOTAL-REVENUES>                                        19,585
<CGS>                                                        0
<TOTAL-COSTS>                                                0
<OTHER-EXPENSES>                                           685
<LOSS-PROVISION>                                             0
<INTEREST-EXPENSE>                                           0
<INCOME-PRETAX>                                         18,900
<INCOME-TAX>                                                 0
<INCOME-CONTINUING>                                     18,900
<DISCONTINUED>                                               0
<EXTRAORDINARY>                                              0
<CHANGES>                                                    0
<NET-INCOME>                                            18,900
<EPS-PRIMARY>                                             1.21
<EPS-DILUTED>                                             1.21
<FN>
<F1> CURRENT ASSETS IS COMPRISED OF CASH ($101), DISTRIBUTION RECEIVABLE
     ($14,050), AND INTEREST RECEIVABLE ($538)
<F2> TOTAL ASSETS INCLUDE CURRENT ASSETS PLUS INVESTMENT IN OPPENHEIMER CAPITAL
     ($32,640), A NON-TRADE NOTE RECEIVABLE ($32,193), GOODWILL ($38,653) AND
     OTHER ASSETS ($138)
<F3> OTHER SHAREHOLDERS EQUITY IS COMPRISED OF GENERAL PARTNER'S CAPITAL
     ($1,049) AND LIMITED PARTNERS' CAPITAL ($102,458)
</FN>

        


</TABLE>