<ARTICLE> 5
       
                                            
<PERIOD-TYPE>                                   6-MOS
<FISCAL-YEAR-END>                             JUN-30-1996
<PERIOD-END>                                  SEP-30-1996
<CASH>                                            501,262
<SECURITIES>                                      303,542
<RECEIVABLES>                                   4,709,375
<ALLOWANCES>                                            0
<INVENTORY>                                    36,071,611
<CURRENT-ASSETS>                               41,282,248
<PP&E>                                          1,463,882
<DEPRECIATION>                                          0
<TOTAL-ASSETS>                                 47,279,000
<CURRENT-LIABILITIES>                           2,843,646
<BONDS>                                        22,771,432
<COMMON>                                          267,935
<PREFERRED-MANDATORY>                                   0
<PREFERRED>                                             0
<OTHER-SE>                                     18,084,004
<TOTAL-LIABILITY-AND-EQUITY>                   47,279,000
<SALES>                                         6,000,137
<TOTAL-REVENUES>                                6,000,137
<CGS>                                           3,768,690
<TOTAL-COSTS>                                   4,562,282
<OTHER-EXPENSES>                                        0
<LOSS-PROVISION>                                        0
<INTEREST-EXPENSE>                                      0
<INCOME-PRETAX>                                 1,437,855
<INCOME-TAX>                                      411,985
<INCOME-CONTINUING>                             1,025,870
<DISCONTINUED>                                          0
<EXTRAORDINARY>                                         0
<CHANGES>                                               0
<NET-INCOME>                                    1,025,870
<EPS-PRIMARY>                                        .08
<EPS-DILUTED>                                        .08