<ARTICLE> 5 <PERIOD-TYPE> 3-MOS <FISCAL-YEAR-END> DEC-31-1997 <PERIOD-END> MAR-31-1997 <CASH> 3,697,023 <SECURITIES> 1,390,389 <RECEIVABLES> 34,663 <ALLOWANCES> 0 <INVENTORY> 0 <CURRENT-ASSETS> 5,122,075 <PP&E> 29,518,850 <DEPRECIATION> 0 <TOTAL-ASSETS> 35,466,776 <CURRENT-LIABILITIES> 1,001,400 <BONDS> 472,312 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <COMMON> 0 <OTHER-SE> 33,993,064 <TOTAL-LIABILITY-AND-EQUITY> 35,466,776 <SALES> 1,204,127 <TOTAL-REVENUES> 1,278,389 <CGS> 218,000 <TOTAL-COSTS> 218,000 <OTHER-EXPENSES> 285,684 <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 0 <INCOME-PRETAX> 774,705 <INCOME-TAX> 0 <INCOME-CONTINUING> 774,705 <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> 774,705 <EPS-PRIMARY> 19.21 <EPS-DILUTED> 19.21