<ARTICLE> 5
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM
THE APRIL 30, 1988 FINANCIAL STATEMENTS AND IS QUALIFIED IN ITS
ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
       
                             
<PERIOD-TYPE>                   9-MOS
<FISCAL-YEAR-END>                          JUL-31-1997                    
<PERIOD-END>                               APR-30-1998
<CASH>                                          33,936
<SECURITIES>                                      2006
<RECEIVABLES>                                   13,789
<ALLOWANCES>                                     7,229
<INVENTORY>                                          0
<CURRENT-ASSETS>                                     0
<PP&E>                                       1,408,740
<DEPRECIATION>                                 128,548
<TOTAL-ASSETS>                               1,355,175
<CURRENT-LIABILITIES>                                0
<BONDS>                                        555,431
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                     72,775
<COMMON>                                       752,403
<OTHER-SE>                                    (65,502)
<TOTAL-LIABILITY-AND-EQUITY>                 1,355,175
<SALES>                                              0
<TOTAL-REVENUES>                               184,833
<CGS>                                                0
<TOTAL-COSTS>                                   85,766
<OTHER-EXPENSES>                                 2,093
<LOSS-PROVISION>                                 2,986
<INTEREST-EXPENSE>                              26,967
<INCOME-PRETAX>                                 66,961
<INCOME-TAX>                                         0
<INCOME-CONTINUING>                             66,961
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                    66,961
<EPS-PRIMARY>                                     1.06
<EPS-DILUTED>                                     1.05