<ARTICLE>                     5
<LEGEND>

THE SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
COMPANY'S CONSOLIDATED FINANCIAL STATEMENTS AND IS QUALIFIED IN ITS
ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS
</LEGEND>
<MULTIPLIER>                                   1

                             
<PERIOD-TYPE>                   YEAR
<FISCAL-YEAR-END>                              DEC-31-1998
<PERIOD-END>                                   DEC-31-1998
<CASH>                                         19,581,870
<SECURITIES>                                   0
<RECEIVABLES>                                  15,780,081
<ALLOWANCES>                                   0
<INVENTORY>                                    0
<CURRENT-ASSETS>                               0
<PP&E>                                         361,436,420
<DEPRECIATION>                                 81,492,910
<TOTAL-ASSETS>                                 339,054,646
<CURRENT-LIABILITIES>                          0
<BONDS>                                        296,150,706
<PREFERRED-MANDATORY>                          0
<PREFERRED>                                    0
<COMMON>                                       8000
<OTHER-SE>                                     22,737,991
<TOTAL-LIABILITY-AND-EQUITY>                   339,054,646
<SALES>                                        0
<TOTAL-REVENUES>                               116,326,774
<CGS>                                          0
<TOTAL-COSTS>                                  68,123,261
<OTHER-EXPENSES>                               0
<LOSS-PROVISION>                               0
<INTEREST-EXPENSE>                             30,578,266
<INCOME-PRETAX>                                5,220,468
<INCOME-TAX>                                   2,068,563
<INCOME-CONTINUING>                            3,151,905
<DISCONTINUED>                                 0
<EXTRAORDINARY>                                0
<CHANGES>                                      0
<NET-INCOME>                                   3,151,905
<EPS-BASIC>                                  3.94
<EPS-DILUTED>                                  3.94