<ARTICLE> 5 <PERIOD-TYPE> 3-MOS <FISCAL-YEAR-END> DEC-31-1998 <PERIOD-END> DEC-31-1998 <CASH> 2,551,981 <SECURITIES> 0 <RECEIVABLES> 340,650 <ALLOWANCES> 0 <INVENTORY> 0 <CURRENT-ASSETS> 0 <PP&E> 0 <DEPRECIATION> 0 <TOTAL-ASSETS> 28,921,681 <CURRENT-LIABILITIES> 0 <BONDS> 0 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <COMMON> 0 <OTHER-SE> 21,813,037 <TOTAL-LIABILITY-AND-EQUITY> 28,921,681 <SALES> 0 <TOTAL-REVENUES> 1,314,496 <CGS> 0 <TOTAL-COSTS> 0 <OTHER-EXPENSES> 902,359 <LOSS-PROVISION> 17,173 <INTEREST-EXPENSE> 45,920 <INCOME-PRETAX> 349,044 <INCOME-TAX> 0 <INCOME-CONTINUING> 349,044 <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> 349,044 <EPS-PRIMARY> 0 <EPS-DILUTED> 0