<ARTICLE> 5 <PERIOD-TYPE> 9-MOS <FISCAL-YEAR-END> DEC-31-1995 <PERIOD-END> SEP-30-1995 <CASH> 86,223 <SECURITIES> 9,481,145 <RECEIVABLES> 72,102 <ALLOWANCES> 0 <INVENTORY> 0 <CURRENT-ASSETS> 9,660,824 <PP&E> 0 <DEPRECIATION> 0 <TOTAL-ASSETS> 9,660,824 <CURRENT-LIABILITIES> 9,077,323 <BONDS> 8,920,000 <COMMON> 5,638 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <OTHER-SE> 577,863 <TOTAL-LIABILITY-AND-EQUITY> 9,660,824 <SALES> 0 <TOTAL-REVENUES> 684,673 <CGS> 0 <TOTAL-COSTS> 0 <OTHER-EXPENSES> 4,626 <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 637,013 <INCOME-PRETAX> 43,034 <INCOME-TAX> 2,670 <INCOME-CONTINUING> 40,364 <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> 40,364 <EPS-PRIMARY> .07 <EPS-DILUTED> 0