<ARTICLE> 5 <PERIOD-TYPE> 3-MOS <FISCAL-YEAR-END> DEC-31-1996 <PERIOD-END> MAR-31-1996 <CASH> 3,222,859 <SECURITIES> 3,556,520 <RECEIVABLES> 0 <ALLOWANCES> 0 <INVENTORY> 0 <CURRENT-ASSETS> 6,779,379 <PP&E> 52,919,650 <DEPRECIATION> 0 <TOTAL-ASSETS> 59,699,029 <CURRENT-LIABILITIES> 139,261 <BONDS> 2,868,353 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <COMMON> 0 <OTHER-SE> 56,691,415 <TOTAL-LIABILITY-AND-EQUITY> 59,699,029 <SALES> 1,329,534 <TOTAL-REVENUES> 1,414,825 <CGS> 135,021 <TOTAL-COSTS> 135,021 <OTHER-EXPENSES> 340,010 <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 0 <INCOME-PRETAX> 939,794 <INCOME-TAX> 0 <INCOME-CONTINUING> 939,794 <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> 939,794 <EPS-PRIMARY> 9.79 <EPS-DILUTED> 9.79