<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> 6-MOS <FISCAL-YEAR-END> JUL-31-1997 <PERIOD-END> JAN-31-1997 <CASH> 24,755 <SECURITIES> 2,344 <RECEIVABLES> 12,253 <ALLOWANCES> 5,018 <INVENTORY> 0 <CURRENT-ASSETS> 0 <PP&E> 1,119,746 <DEPRECIATION> 93,869 <TOTAL-ASSETS> 1,100,199 <CURRENT-LIABILITIES> 0 <BONDS> 401,407 <COMMON> 726,206 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <OTHER-SE> (59,556) <TOTAL-LIABILITY-AND-EQUITY> 1,100,199 <SALES> 0 <TOTAL-REVENUES> 98,930 <CGS> 0 <TOTAL-COSTS> 45,344 <OTHER-EXPENSES> 998 <LOSS-PROVISION> 1,544 <INTEREST-EXPENSE> 12,946 <INCOME-PRETAX> 38,168 <INCOME-TAX> 0 <INCOME-CONTINUING> 38,168 <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> 38,168 <EPS-PRIMARY> .66 <EPS-DILUTED> .66