<ARTICLE> 5 <PERIOD-TYPE> 12-MOS <FISCAL-YEAR-END> DEC-31-1996 <PERIOD-END> DEC-31-1996 <CASH> 1,166,590 <SECURITIES> 298,492 <RECEIVABLES> 0 <ALLOWANCES> 0 <INVENTORY> 0 <CURRENT-ASSETS> 1,465,082 <PP&E> 8,388,278 <DEPRECIATION> 83,671 <TOTAL-ASSETS> 9,853,360 <CURRENT-LIABILITIES> 73,152 <BONDS> 504,663 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <COMMON> 0 <OTHER-SE> 9,275,545 <TOTAL-LIABILITY-AND-EQUITY> 9,853,360 <SALES> 1,582,943 <TOTAL-REVENUES> 1,689,421 <CGS> 84,876 <TOTAL-COSTS> 84,876 <OTHER-EXPENSES> 436,553 <LOSS-PROVISION> 250,000 <INTEREST-EXPENSE> 114,799 <INCOME-PRETAX> 803,193 <INCOME-TAX> 0 <INCOME-CONTINUING> 803,193 <DISCONTINUED> 0 <EXTRAORDINARY> 906,542 <CHANGES> 0 <NET-INCOME> 1,709,735 <EPS-PRIMARY> 48.95 <EPS-DILUTED> 48.95