<ARTICLE> 5

<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM REGISTRANTS
QUARTERLY REPORT ON FORM 10Q AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO
THE FINANCIAL STATEMENTS IN SUCH REPORT.
</LEGEND>

       
                           
<PERIOD-TYPE>                 9-MOS
<FISCAL-YEAR-END>             DEC-31-1997
<PERIOD-START>                JAN-01-1997
<PERIOD-END>                  SEP-30-1997
<CASH>                        14,046
<SECURITIES>                  61,879
<RECEIVABLES>                 3,374
<ALLOWANCES>                  0
<INVENTORY>                   0
<CURRENT-ASSETS>              79,299
<PP&E>                        983
<DEPRECIATION>                (197)
<TOTAL-ASSETS>                80,763
<CURRENT-LIABILITIES>         7,072
<BONDS>                       0
<PREFERRED-MANDATORY>         0
<PREFERRED>                   0
<COMMON>                      96
<OTHER-SE>                    73,594
<TOTAL-LIABILITY-AND-EQUITY>  80,763
<SALES>                       14,059
<TOTAL-REVENUES>              24,087
<CGS>                         0
<TOTAL-COSTS>                 10,196
<OTHER-EXPENSES>              0
<LOSS-PROVISION>              0
<INTEREST-EXPENSE>            36
<INCOME-PRETAX>               13,856
<INCOME-TAX>                  6,272
<INCOME-CONTINUING>           7,584
<DISCONTINUED>                0
<EXTRAORDINARY>               0
<CHANGES>                     0
<NET-INCOME>                  7,584
<EPS-PRIMARY>                 0.85
<EPS-DILUTED>                 0.85