<ARTICLE> 5
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
SEPTEMBER 30, 1997 FORM 10-Q AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO
SUCH FINANCIAL STATEMENTS.
</LEGEND>
<MULTIPLIER> 1,000
       
                             
<PERIOD-TYPE>                   9-MOS
<FISCAL-YEAR-END>                          DEC-31-1997
<PERIOD-END>                               SEP-30-1997
<CASH>                                           1,749
<SECURITIES>                                   228,601
<RECEIVABLES>                                    2,840
<ALLOWANCES>                                         0
<INVENTORY>                                          0
<CURRENT-ASSETS>                               233,190
<PP&E>                                               0
<DEPRECIATION>                                       0
<TOTAL-ASSETS>                                 233,190
<CURRENT-LIABILITIES>                          211,702
<BONDS>                                              0
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<COMMON>                                            16
<OTHER-SE>                                      21,472
<TOTAL-LIABILITY-AND-EQUITY>                   233,190
<SALES>                                              0
<TOTAL-REVENUES>                                 7,390
<CGS>                                                0
<TOTAL-COSTS>                                        0
<OTHER-EXPENSES>                                   310
<LOSS-PROVISION>                                     0
<INTEREST-EXPENSE>                               5,977
<INCOME-PRETAX>                                  1,103
<INCOME-TAX>                                         0
<INCOME-CONTINUING>                              1,103
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                     1,103
<EPS-PRIMARY>                                     0.66
<EPS-DILUTED>                                     0.00