<ARTICLE> 5 <PERIOD-TYPE> 3-MOS <FISCAL-YEAR-END> DEC-31-1996 <PERIOD-END> MAR-31-1996 <CASH> 6,508,533 <SECURITIES> 5,376,139 <RECEIVABLES> 0 <ALLOWANCES> 0 <INVENTORY> 0 <CURRENT-ASSETS> 11,884,672 <PP&E> 48,433,763 <DEPRECIATION> 0 <TOTAL-ASSETS> 60,318,435 <CURRENT-LIABILITIES> 136,795 <BONDS> 425,301 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <COMMON> 0 <OTHER-SE> 59,756,339 <TOTAL-LIABILITY-AND-EQUITY> 60,318,435 <SALES> 1,743,371 <TOTAL-REVENUES> 1,891,387 <CGS> 508,369 <TOTAL-COSTS> 508,369 <OTHER-EXPENSES> 576,494 <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 0 <INCOME-PRETAX> 806,524 <INCOME-TAX> 0 <INCOME-CONTINUING> 806,524 <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> 806,524 <EPS-PRIMARY> 9.67 <EPS-DILUTED> 9.67