<ARTICLE> 5 <PERIOD-TYPE> 3-MOS <FISCAL-YEAR-END> DEC-31-1997 <PERIOD-END> MAR-31-1997 <CASH> 3,773,847 <SECURITIES> 1,414,899 <RECEIVABLES> 0 <ALLOWANCES> 0 <INVENTORY> 0 <CURRENT-ASSETS> 5,188,746 <PP&E> 23,734,279 <DEPRECIATION> 0 <TOTAL-ASSETS> 28,923,025 <CURRENT-LIABILITIES> 121,727 <BONDS> 582,677 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <COMMON> 0 <OTHER-SE> 28,218,621 <TOTAL-LIABILITY-AND-EQUITY> 28,923,025 <SALES> 573,282 <TOTAL-REVENUES> 639,334 <CGS> 102,823 <TOTAL-COSTS> 102,823 <OTHER-EXPENSES> 176,131 <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 0 <INCOME-PRETAX> 360,380 <INCOME-TAX> 0 <INCOME-CONTINUING> 360,380 <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> 360,380 <EPS-PRIMARY> 7.31 <EPS-DILUTED> 7.31