<ARTICLE>                     5
<LEGEND>
This  schedule  contains  summary  information   extracted  from  the  financial
statements  of Part I. Item 1. of the March 31, 1997 Form 10-Q and is  qualified
in its entirety by reference to such financial statements.
</LEGEND>
<MULTIPLIER>                                       1,000
       
                             
<PERIOD-TYPE>                   3-MOS
<FISCAL-YEAR-END>                            DEC-31-1997   
<PERIOD-END>                                 MAR-31-1997   
<CASH>                                             49636   
<SECURITIES>                                           0   
<RECEIVABLES>                                        476   
<ALLOWANCES>                                           0   
<INVENTORY>                                            0   
<CURRENT-ASSETS>                                   50112   
<PP&E>                                               411   
<DEPRECIATION>                                         0   
<TOTAL-ASSETS>                                     50523   
<CURRENT-LIABILITIES>                              17937   
<BONDS>                                                0   
<PREFERRED-MANDATORY>                                  0   
<PREFERRED>                                            0   
<COMMON>                                              10   
<OTHER-SE>                                         32576   
<TOTAL-LIABILITY-AND-EQUITY>                       50523   
<SALES>                                                0   
<TOTAL-REVENUES>                                    2319   
<CGS>                                                  0   
<TOTAL-COSTS>                                          0   
<OTHER-EXPENSES>                                    5326   
<LOSS-PROVISION>                                (116408)   
<INTEREST-EXPENSE>                                  1508   
<INCOME-PRETAX>                                   111893   
<INCOME-TAX>                                       45094   
<INCOME-CONTINUING>                                66799   
<DISCONTINUED>                                         0   
<EXTRAORDINARY>                                        0   
<CHANGES>                                              0   
<NET-INCOME>                                       66799   
<EPS-PRIMARY>                                      63.77   
<EPS-DILUTED>                                      63.77