<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. <MULTIPLIER> 1,000 <PERIOD-TYPE> 12-MOS <FISCAL-YEAR-END> JUL-31-1996 <PERIOD-END> JUL-31-1996 <CASH> 4,300 <SECURITIES> 2,095 <RECEIVABLES> 11,586 <ALLOWANCES> 3,977 <INVENTORY> 0 <CURRENT-ASSETS> 0 <PP&E> 977,942 <DEPRECIATION> 82,523 <TOTAL-ASSETS> 945,394 <CURRENT-LIABILITIES> 0 <BONDS> 257,926 <COMMON> 715,997 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <OTHER-SE> (56,643) <TOTAL-LIABILITY-AND-EQUITY> 945,394 <SALES> 0 <TOTAL-REVENUES> 167,607 <CGS> 0 <TOTAL-COSTS> 75,323 <OTHER-EXPENSES> 2,616 <LOSS-PROVISION> 1,984 <INTEREST-EXPENSE> 17,561 <INCOME-PRETAX> 70,521 <INCOME-TAX> 0 <INCOME-CONTINUING> 70,521 <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> 70,521 <EPS-PRIMARY> 1.25 <EPS-DILUTED> 1.25