<ARTICLE> 5 <PERIOD-TYPE> 3-MOS <FISCAL-YEAR-END> DEC-31-1996 <PERIOD-END> MAR-31-1996 <CASH> 2,067,874 <SECURITIES> 3,395,031 <RECEIVABLES> 92,595 <ALLOWANCES> 0 <INVENTORY> 0 <CURRENT-ASSETS> 5,555,500 <PP&E> 32,834,861 <DEPRECIATION> 0 <TOTAL-ASSETS> 38,940,815 <CURRENT-LIABILITIES> 318,729 <BONDS> 314,464 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <COMMON> 0 <OTHER-SE> 38,307,622 <TOTAL-LIABILITY-AND-EQUITY> 38,940,815 <SALES> 1,206,556 <TOTAL-REVENUES> 1,270,526 <CGS> 258,011 <TOTAL-COSTS> 258,011 <OTHER-EXPENSES> 269,441 <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 0 <INCOME-PRETAX> 743,074 <INCOME-TAX> 0 <INCOME-CONTINUING> 743,074 <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> 743,074 <EPS-PRIMARY> 18.43 <EPS-DILUTED> 18.43