<ARTICLE> 5
       
                             
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          DEC-31-1996
<PERIOD-START>                             JAN-01-1996
<PERIOD-END>                               JUN-30-1996
<CASH>                                         673,532
<SECURITIES>                                         0
<RECEIVABLES>                               50,642,472<F1>
<ALLOWANCES>                                         0
<INVENTORY>                                          0
<CURRENT-ASSETS>                               678,318
<PP&E>                                               0
<DEPRECIATION>                                       0
<TOTAL-ASSETS>                              51,316,004
<CURRENT-LIABILITIES>                        1,686,997
<BONDS>                                     47,407,822<F2>
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<COMMON>                                        50,000
<OTHER-SE>                                   2,171,185
<TOTAL-LIABILITY-AND-EQUITY>                51,316,004
<SALES>                                              0
<TOTAL-REVENUES>                             2,415,864
<CGS>                                                0
<TOTAL-COSTS>                                        0
<OTHER-EXPENSES>                             2,176,489<F3>
<LOSS-PROVISION>                                     0
<INTEREST-EXPENSE>                                   0
<INCOME-PRETAX>                                239,375
<INCOME-TAX>                                    98,300
<INCOME-CONTINUING>                            141,075
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                   141,075
<EPS-PRIMARY>                                     2.82
<EPS-DILUTED>                                        0
<FN>
<F1>Receivable: Consists of A/R 4,786, and collateral notes
       Receivable 50,637,686
<F2>Bonds: Loans payable to affiliates 47,407,822
<F3>Other expenses: Interest on loan agreements 1,443,136 general and
administrative 733,353
</FN>