<TABLE> <S> <C>

<ARTICLE>                     5
<CIK>                         882860
<NAME>                        Pilgrim America Capital Corporation
<MULTIPLIER>                  1,000
<CURRENCY>                    U.S. Dollars
       
<S>                             <C>
<PERIOD-TYPE>                   3-MOS
<FISCAL-YEAR-END>                                                    SEP-30-1998
<PERIOD-START>                                                       OCT-01-1997
<PERIOD-END>                                                         DEC-31-1997
<EXCHANGE-RATE>                                                                1
<CASH>                                                                       519
<SECURITIES>                                                                6648
<RECEIVABLES>                                                                424
<ALLOWANCES>                                                                   0
<INVENTORY>                                                                    0
<CURRENT-ASSETS>                                                            7591
<PP&E>                                                                      1103
<DEPRECIATION>                                                               412
<TOTAL-ASSETS>                                                             57279
<CURRENT-LIABILITIES>                                                       4201
<BONDS>                                                                        0
<PREFERRED-MANDATORY>                                                          0
<PREFERRED>                                                                    0
<COMMON>                                                                      54
<OTHER-SE>                                                                 41689
<TOTAL-LIABILITY-AND-EQUITY>                                               57279
<SALES>                                                                     7557
<TOTAL-REVENUES>                                                               0
<CGS>                                                                          0
<TOTAL-COSTS>                                                                  0
<OTHER-EXPENSES>                                                            4711
<LOSS-PROVISION>                                                               0
<INTEREST-EXPENSE>                                                             0
<INCOME-PRETAX>                                                             2546
<INCOME-TAX>                                                                1178
<INCOME-CONTINUING>                                                         1668
<DISCONTINUED>                                                                 0
<EXTRAORDINARY>                                                                0
<CHANGES>                                                                      0
<NET-INCOME>                                                                1668
<EPS-PRIMARY>                                                                .43
<EPS-DILUTED>                                                                .38
                                                                     

</TABLE>