<ARTICLE> 5 <PERIOD-TYPE> 3-MOS <FISCAL-YEAR-END> DEC-31-1998 <PERIOD-END> DEC-31-1998 <CASH> 1,169,593 <SECURITIES> 0 <RECEIVABLES> 63,373 <ALLOWANCES> 32,623 <INVENTORY> 0 <CURRENT-ASSETS> 0 <PP&E> 0 <DEPRECIATION> 0 <TOTAL-ASSETS> 3,674,129 <CURRENT-LIABILITIES> 0 <BONDS> 0 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <COMMON> 0 <OTHER-SE> 2,969,239 <TOTAL-LIABILITY-AND-EQUITY> 3,674,129 <SALES> 0 <TOTAL-REVENUES> 499,378 <CGS> 0 <TOTAL-COSTS> 0 <OTHER-EXPENSES> 145,504 <LOSS-PROVISION> 4,995 <INTEREST-EXPENSE> 16,946 <INCOME-PRETAX> 331,933 <INCOME-TAX> 0 <INCOME-CONTINUING> 331,933 <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> 331,933 <EPS-PRIMARY> 0 <EPS-DILUTED> 0