<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