<ARTICLE> 5 <PERIOD-TYPE> 9-MOS <FISCAL-YEAR-END> DEC-31-1998 <PERIOD-END> SEP-30-1998 <CASH> 2,311,125 <SECURITIES> 1,059,763 <RECEIVABLES> 31,736,521 <ALLOWANCES> 93,840 <INVENTORY> 0 <CURRENT-ASSETS> 7,235,654 <PP&E> 34,536,464 <DEPRECIATION> 6,991,263 <TOTAL-ASSETS> 74,198,964 <CURRENT-LIABILITIES> 4,949,718 <BONDS> 54,001,173 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <COMMON> 361,069 <OTHER-SE> 12,020,137 <TOTAL-LIABILITY-AND-EQUITY> 74,198,964 <SALES> 0 <TOTAL-REVENUES> 11,476,486 <CGS> 0 <TOTAL-COSTS> 4,886,024 <OTHER-EXPENSES> 0 <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 2,894,849 <INCOME-PRETAX> 2,346,772 <INCOME-TAX> 0 <INCOME-CONTINUING> 2,346,772 <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> 2,346,772 <EPS-PRIMARY> 0.65 <EPS-DILUTED> 0.65