<ARTICLE>         5
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
REGISTRANT'S 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-31-1998
<PERIOD-START>                                                       JAN-01-1998
<PERIOD-END>                                                         SEP-30-1998
<CASH>                                                                     3,591
<SECURITIES>                                                              69,185
<RECEIVABLES>                                                              2,638
<ALLOWANCES>                                                                   0
<INVENTORY>                                                                    0
<CURRENT-ASSETS>                                                          75,414
<PP&E>                                                                     1,086
<DEPRECIATION>                                                             (379)
<TOTAL-ASSETS>                                                            83,420
<CURRENT-LIABILITIES>                                                      5,013
<BONDS>                                                                        0
<PREFERRED-MANDATORY>                                                          0
<PREFERRED>                                                                    0
<COMMON>                                                                      96
<OTHER-SE>                                                                78,311
<TOTAL-LIABILITY-AND-EQUITY>                                              83,420
<SALES>                                                                   12,923
<TOTAL-REVENUES>                                                          20,784
<CGS>                                                                          0
<TOTAL-COSTS>                                                              9,970
<OTHER-EXPENSES>                                                               0
<LOSS-PROVISION>                                                               0
<INTEREST-EXPENSE>                                                            39
<INCOME-PRETAX>                                                           10,775
<INCOME-TAX>                                                               4,662
<INCOME-CONTINUING>                                                        6,113
<DISCONTINUED>                                                                 0
<EXTRAORDINARY>                                                                0
<CHANGES>                                                                      0
<NET-INCOME>                                                               6,113
<EPS-PRIMARY>                                                               0.64
<EPS-DILUTED>                                                               0.64