<ARTICLE> 5
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
FINANCIAL STATEMENTS FILED IN ITEM 1 TO THE COMPANY'S FORM 10-Q FOR THE
QUARTER ENDED JUNE 30, 1998 AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE
TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<MULTIPLIER> 1,000
       
                             
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          DEC-31-1998
<PERIOD-END>                               JUN-30-1998
<CASH>                                             885
<SECURITIES>                                    36,667
<RECEIVABLES>                                      653
<ALLOWANCES>                                         0
<INVENTORY>                                          0
<CURRENT-ASSETS>                                49,255
<PP&E>                                           1,692
<DEPRECIATION>                                     282
<TOTAL-ASSETS>                                  54,825
<CURRENT-LIABILITIES>                            3,964
<BONDS>                                              0
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<COMMON>                                            73
<OTHER-SE>                                      48,424
<TOTAL-LIABILITY-AND-EQUITY>                    54,825
<SALES>                                              0
<TOTAL-REVENUES>                                 4,680
<CGS>                                                0
<TOTAL-COSTS>                                    2,989
<OTHER-EXPENSES>                                     0
<LOSS-PROVISION>                                     0
<INTEREST-EXPENSE>                                   2
<INCOME-PRETAX>                                  1,691
<INCOME-TAX>                                         0
<INCOME-CONTINUING>                                  0
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                       994
<EPS-PRIMARY>                                      .31
<EPS-DILUTED>                                      .31