<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-31-1999
<PERIOD-START>                                                  Aug-01-1998
<PERIOD-END>                                                    Oct-31-1998
<CASH>                                                            1,520,022
                                                           
<SECURITIES>                                                        138,317
<RECEIVABLES>                                                       335,884
<ALLOWANCES>                                                              0
<INVENTORY>                                                               0
<CURRENT-ASSETS>                                                 25,584,994
<PP&E>                                                           50,265,390
<DEPRECIATION>                                                   21,854,765
<TOTAL-ASSETS>                                                   41,436,756
<CURRENT-LIABILITIES>                                             1,560,651
<BONDS>                                                                   0
<COMMON>                                                          2,178,297
<PREFERRED-MANDATORY>                                                     0
<PREFERRED>                                                               0
<OTHER-SE>                                                       28,143,610
<TOTAL-LIABILITY-AND-EQUITY>                                     41,436,756
<SALES>                                                                   0
<TOTAL-REVENUES>                                                  2,679,905
<CGS>                                                                     0
<TOTAL-COSTS>                                                             0
<OTHER-EXPENSES>                                                  2,080,839
<LOSS-PROVISION>                                                          0
<INTEREST-EXPENSE>                                                  172,849
<INCOME-PRETAX>                                                           0
<INCOME-TAX>                                                        169,000
<INCOME-CONTINUING>                                                 321,315
<DISCONTINUED>                                                            0
<EXTRAORDINARY>                                                           0
<CHANGES>                                                                 0
<NET-INCOME>                                                        321,315
<EPS-PRIMARY>                                                          0.15
<EPS-DILUTED>                                                          0.00