<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-31-1996
<PERIOD-END>                               APR-30-1996
<CASH>                                          22,784
<SECURITIES>                                     2,823
<RECEIVABLES>                                   10,430
<ALLOWANCES>                                     3,897
<INVENTORY>                                          0
<CURRENT-ASSETS>                                     0
<PP&E>                                         913,414
<DEPRECIATION>                                  78,007
<TOTAL-ASSETS>                                 903,844
<CURRENT-LIABILITIES>                                0
<BONDS>                                        224,305   
<COMMON>                                       712,295
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<OTHER-SE>                                     (55,154)
<TOTAL-LIABILITY-AND-EQUITY>                   903,844
<SALES>                                              0
<TOTAL-REVENUES>                               122,671
<CGS>                                                0
<TOTAL-COSTS>                                   54,948   
<OTHER-EXPENSES>                                 2,125 
<LOSS-PROVISION>                                 1,388
<INTEREST-EXPENSE>                              12,908
<INCOME-PRETAX>                                 51,583  
<INCOME-TAX>                                         0
<INCOME-CONTINUING>                             51,583
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                    51,583  
<EPS-PRIMARY>                                     0.92
<EPS-DILUTED>                                     0.92