<ARTICLE> 5 <PERIOD-TYPE> 3-MOS <FISCAL-YEAR-END> DEC-31-1996 <PERIOD-END> MAR-31-1996 <CASH> 1,226,036 <SECURITIES> 995,264 <RECEIVABLES> 196,317 <ALLOWANCES> 0 <INVENTORY> 0 <CURRENT-ASSETS> 2,417,617 <PP&E> 16,585,530 <DEPRECIATION> 0 <TOTAL-ASSETS> 19,186,631 <CURRENT-LIABILITIES> 127,273 <BONDS> 457,768 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <COMMON> 0 <OTHER-SE> 18,601,590 <TOTAL-LIABILITY-AND-EQUITY> 19,186,631 <SALES> 497,987 <TOTAL-REVENUES> 525,562 <CGS> 86,004 <TOTAL-COSTS> 86,004 <OTHER-EXPENSES> 108,063 <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 0 <INCOME-PRETAX> 331,495 <INCOME-TAX> 0 <INCOME-CONTINUING> 331,495 <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> 331,495 <EPS-PRIMARY> 10.94 <EPS-DILUTED> 10.94