<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