<ARTICLE> 5 <PERIOD-TYPE> 3-MOS <FISCAL-YEAR-END> DEC-31-1996 <PERIOD-END> MAR-31-1996 <CASH> 3,132,250 <SECURITIES> 1,571,268 <RECEIVABLES> 0 <ALLOWANCES> 0 <INVENTORY> 0 <CURRENT-ASSETS> 4,703,518 <PP&E> 24,869,558 <DEPRECIATION> 0 <TOTAL-ASSETS> 29,573,076 <CURRENT-LIABILITIES> 108,371 <BONDS> 478,108 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <COMMON> 0 <OTHER-SE> 28,986,597 <TOTAL-LIABILITY-AND-EQUITY> 29,573,076 <SALES> 724,303 <TOTAL-REVENUES> 783,177 <CGS> 175,754 <TOTAL-COSTS> 175,754 <OTHER-EXPENSES> 197,188 <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 0 <INCOME-PRETAX> 410,235 <INCOME-TAX> 0 <INCOME-CONTINUING> 410,235 <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> 410,235 <EPS-PRIMARY> 9.65 <EPS-DILUTED> 9.65