<ARTICLE> 5 <LEGEND> This Schedule contains summary financial information extracted from the consolidated balance sheets and consolidated statements of income and is qualified in its entirety by reference to such financial statements. <PERIOD-TYPE> 3-MOS <FISCAL-YEAR-END> JUL-31-1995 <PERIOD-END> OCT-31-1995 <CASH> 26,299 <SECURITIES> 5,452 <RECEIVABLES> 8,334 <ALLOWANCES> 3,188 <INVENTORY> 0 <CURRENT-ASSETS> 0 <PP&E> 68,464 <DEPRECIATION> 795,031 <TOTAL-ASSETS> 799,544<FN>(1) <CURRENT-LIABILITIES> 0 <BONDS> 206,545 <COMMON> 623,067 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <OTHER-SE> (50,625) <TOTAL-LIABILITY-AND-EQUITY> 799,549<FN>(2) <SALES> 0 <TOTAL-REVENUES> 37,795 <CGS> 0 <TOTAL-COSTS> 16,405 <OTHER-EXPENSES> 747 <LOSS-PROVISION> 324 <INTEREST-EXPENSE> 4,046 <INCOME-PRETAX> 16,274<FN>(3) <INCOME-TAX> 0 <INCOME-CONTINUING> 16,274<FN>(3) <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> 16,274 <EPS-PRIMARY> .31 <EPS-DILUTED> .31 <FN> <F1> Other Assets not shown are: Mortgages Receivable, 	Other Receivables, Prepaid Expenses and Deferred Charges, 	and Other Assets which total $32,897. <F2> Additional liabilities not shown are: Other 	 Liabilities and Tenants' Security Deposits 	 which total $20,562 <F3>	Includes Capital Gains of $1,000. </FN>