<ARTICLE> 5 <PERIOD-TYPE> 3-MOS 12-MOS <FISCAL-YEAR-END> DEC-31-1997 DEC-31-1997 <PERIOD-START> JAN-01-1998 JAN-01-1997 <PERIOD-END> MAR-31-1998 DEC-31-1997 <CASH> 5,221,000 5,301,200 <SECURITIES> 5,000,000 5,000,000 <RECEIVABLES> 122,606,644 122,606,644 <ALLOWANCES> 0 0 <INVENTORY> 0 0 <CURRENT-ASSETS> 221,000 301,200 <PP&E> 0 0 <DEPRECIATION> 0 0 <TOTAL-ASSETS> 135,221,644 136,611,644 <CURRENT-LIABILITIES> 91,000 91,000 <BONDS> 0 0 <COMMON> 145,466 145,466 <PREFERRED-MANDATORY> 0 0 <PREFERRED> 0 2,500,000 <OTHER-SE> 11,268,534 11,268,534 <TOTAL-LIABILITY-AND-EQUITY> 135,221,644 136,611,644 <SALES> 0 0 <TOTAL-REVENUES> 0 0 <CGS> 0 0 <TOTAL-COSTS> 0 0 <OTHER-EXPENSES> 0 0 <LOSS-PROVISION> 0 0 <INTEREST-EXPENSE> 0 0 <INCOME-PRETAX> 0 0 <INCOME-TAX> 0 0 <INCOME-CONTINUING> 0 0 <DISCONTINUED> 0 0 <EXTRAORDINARY> 0 0 <CHANGES> 0 0 <NET-INCOME> 0 0 <EPS-PRIMARY> 0 0 <EPS-DILUTED> 0 0