<ARTICLE> 5 <LEGEND> This schedule contains summary financial information extracted from the contained quarterly 10-Q and is qualified in its entirety by reference to such Form 10-Q. </LEGEND> <MULTIPLIER> 1 <PERIOD-TYPE> 3-MOS <FISCAL-YEAR-END> Jul-31-1998 <PERIOD-START> Aug-01-1997 <PERIOD-END> Oct-31-1997 <CASH> 1,252,666 <SECURITIES> 2,665,558 <RECEIVABLES> 364,605 <ALLOWANCES> 0 <INVENTORY> 0 <CURRENT-ASSETS> 4,953,591 <PP&E> 49,052,666 <DEPRECIATION> 20,910,007 <TOTAL-ASSETS> 40,736,730 <CURRENT-LIABILITIES> 2,778,896 <BONDS> 0 <COMMON> 0 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <OTHER-SE> 28,371,143 <TOTAL-LIABILITY-AND-EQUITY> 40,736,730 <SALES> 0 <TOTAL-REVENUES> 2,800,861 <CGS> 0 <TOTAL-COSTS> 0 <OTHER-EXPENSES> 2,124,022 <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 216,031 <INCOME-PRETAX> 535,011 <INCOME-TAX> 190,000 <INCOME-CONTINUING> 345,011 <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> 345,011 <EPS-PRIMARY> 0.16 <EPS-DILUTED> 0.00