<ARTICLE> 5 <LEGEND> This Schedule contains summary financial information extracted from the financial statements contained in the body of the accompanying Form 10-Q and is qualified in its entirety by reference to such financial statements. </LEGEND> <MULTIPLIER> 1,000 <PERIOD-TYPE> 6-MOS <FISCAL-YEAR-END> DEC-31-1995 <PERIOD-END> JUN-30-1996 <CASH> 6,336 <SECURITIES> 111,776 <RECEIVABLES> 0 <ALLOWANCES> 0 <INVENTORY> 107,160 <CURRENT-ASSETS> 0 <PP&E> 0 <DEPRECIATION> 0 <TOTAL-ASSETS> 291,038 <CURRENT-LIABILITIES> 0 <BONDS> 163,081 <PREFERRED-MANDATORY> 59,431 <PREFERRED> 0 <COMMON> 49 <OTHER-SE> 64,638 <TOTAL-LIABILITY-AND-EQUITY> 291,038 <SALES> 27,678 <TOTAL-REVENUES> 47,927 <CGS> 19,062 <TOTAL-COSTS> 19,062 <OTHER-EXPENSES> 12,669 <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 8,131 <INCOME-PRETAX> 8,065 <INCOME-TAX> (14,230) <INCOME-CONTINUING> 22,295 <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> 18,419 <EPS-PRIMARY> 3.74 <EPS-DILUTED> 3.74