<ARTICLE> 5 <PERIOD-TYPE> 3-mos <FISCAL-YEAR-END> Dec-31-1997 <PERIOD-END> Mar-31-1997 <CASH> 1,928,205 <SECURITIES> 000 <RECEIVABLES> 000 <ALLOWANCES> 000 <INVENTORY> 000 <CURRENT-ASSETS> 000 <PP&E> 21,605,442 <DEPRECIATION> 10,483,135 <TOTAL-ASSETS> 13,182,394 <CURRENT-LIABILITIES> 489,232 <BONDS> 9,915,731 <COMMON> 000 <PREFERRED-MANDATORY> 000 <PREFERRED> 000 <OTHER-SE> 2,777,431 <TOTAL-LIABILITY-AND-EQUITY> 13,182,394 <SALES> 804,210 <TOTAL-REVENUES> 841,633 <CGS> 000 <TOTAL-COSTS> 310,446 <OTHER-EXPENSES> 242,093 <LOSS-PROVISION> 000 <INTEREST-EXPENSE> 211,097 <INCOME-PRETAX> 000 <INCOME-TAX> 000 <INCOME-CONTINUING> 000 <DISCONTINUED> 000 <EXTRAORDINARY> 000 <CHANGES> 000 <NET-INCOME> 77,997 <EPS-PRIMARY> .79 <EPS-DILUTED> .79