<ARTICLE> 5 <PERIOD-TYPE> 3-MOS <FISCAL-YEAR-END> DEC-31-1995 <PERIOD-END> MAR-31-1995 <CASH> 20,714,862 <SECURITIES> 113,640,743 <RECEIVABLES> 11,368,068 <ALLOWANCES> 0 <INVENTORY> 35,903,623 <CURRENT-ASSETS> 184,233,514 <PP&E> 96,470,341 <DEPRECIATION> 40,548,341 <TOTAL-ASSETS> 416,728,936 <CURRENT-LIABILITIES> 25,739,679 <BONDS> 224,990,00 <COMMON> 16,655,051 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <OTHER-SE> 142,315,306 <TOTAL-LIABILITY-AND-EQUITY> 416,728,936 <SALES> 20,963,860 <TOTAL-REVENUES> 18,842,080 <CGS> 0 <TOTAL-COSTS> 0 <OTHER-EXPENSES> 4,595,301 <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 2,981,865 <INCOME-PRETAX> (2,898,093) <INCOME-TAX> 277,200 <INCOME-CONTINUING> 0 <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> (3,175,293) <EPS-PRIMARY> (.20) <EPS-DILUTED> 0