<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-31-1997 <PERIOD-END> APR-30-1997 <CASH> 21,390 <SECURITIES> 2,133 <RECEIVABLES> 11,918 <ALLOWANCES> 5,005 <INVENTORY> 0 <CURRENT-ASSETS> 0 <PP&E> 1,130,928 <DEPRECIATION> 99,653 <TOTAL-ASSETS> 1,100,631 <CURRENT-LIABILITIES> 0 <BONDS> 401,346 <COMMON> 730,795 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <OTHER-SE> (61,727) <TOTAL-LIABILITY-AND-EQUITY> 1,100,631 <SALES> 0 <TOTAL-REVENUES> 150,997 <CGS> 0 <TOTAL-COSTS> 70,002 <OTHER-EXPENSES> 1,525 <LOSS-PROVISION> 2,389 <INTEREST-EXPENSE> 19,758 <INCOME-PRETAX> 57,255 <INCOME-TAX> 0 <INCOME-CONTINUING> 57,255 <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> 57,255 <EPS-PRIMARY> .98 <EPS-DILUTED> .98