<ARTICLE> 5
<LEGEND>
THE FINANCIAL DATA SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED
FROM THE UNAUDITED FINANCIAL STATEMENTS FOR THE QUARTER ENDED SEPTEMBER 30, 1995
AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
       
                             
<PERIOD-TYPE>                   3-MOS
<FISCAL-YEAR-END>                          DEC-31-1995
<PERIOD-END>                               SEP-30-1995
<CASH>                                      60,582,558
<SECURITIES>                                67,518,655
<RECEIVABLES>                                  355,222
<ALLOWANCES>                                         0
<INVENTORY>                                          0
<CURRENT-ASSETS>                           128,553,830
<PP&E>                                               0
<DEPRECIATION>                                       0
<TOTAL-ASSETS>                             128,553,830
<CURRENT-LIABILITIES>                       63,780,881
<BONDS>                                              0
<COMMON>                                    64,772,949
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<OTHER-SE>                                           0
<TOTAL-LIABILITY-AND-EQUITY>               128,553,830
<SALES>                                              0
<TOTAL-REVENUES>                             2,727,220
<CGS>                                                0
<TOTAL-COSTS>                                        0
<OTHER-EXPENSES>                               923,081
<LOSS-PROVISION>                                     0
<INTEREST-EXPENSE>                              75,069
<INCOME-PRETAX>                              1,729,070
<INCOME-TAX>                                         0
<INCOME-CONTINUING>                          1,729,070
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                 1,729,070
<EPS-PRIMARY>                                     0.59
<EPS-DILUTED>                                     0.59