<ARTICLE> 5 <PERIOD-TYPE> 9-MOS <FISCAL-YEAR-END> OCT-31-1996 <PERIOD-END> JUL-31-1996 <CASH> 469 <SECURITIES> 0 <RECEIVABLES> 0 <ALLOWANCES> 0 <INVENTORY> 0 <CURRENT-ASSETS> 0 <PP&E> 73,944 <DEPRECIATION> 11,945 <TOTAL-ASSETS> 66,145 <CURRENT-LIABILITIES> 0 <BONDS> 40,289 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <COMMON> 19,314 <OTHER-SE> 922 <TOTAL-LIABILITY-AND-EQUITY> 66,145 <SALES> 0 <TOTAL-REVENUES> 10,273 <CGS> 0 <TOTAL-COSTS> 7,784 <OTHER-EXPENSES> 599 <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 0 <INCOME-PRETAX> 1,890 <INCOME-TAX> 0 <INCOME-CONTINUING> 1,890 <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> 1,890 <EPS-PRIMARY> 1.21 <EPS-DILUTED> 1.21