<ARTICLE> 5 <PERIOD-TYPE> 6-MOS <FISCAL-YEAR-END> DEC-31-1996 <PERIOD-START> JAN-01-1996 <PERIOD-END> JUN-30-1996 <CASH> 5,820,000 <SECURITIES> 7,573,000 <RECEIVABLES> 592,000 <ALLOWANCES> 0 <INVENTORY> 0 <CURRENT-ASSETS> 0 <PP&E> 30,889,000 <DEPRECIATION> 3,054,000 <TOTAL-ASSETS> 41,930,000 <CURRENT-LIABILITIES> 0 <BONDS> 0 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <COMMON> 6,000 <OTHER-SE> 40,371,000 <TOTAL-LIABILITY-AND-EQUITY> 41,930,000 <SALES> 0 <TOTAL-REVENUES> 2,618,000 <CGS> 0 <TOTAL-COSTS> 0 <OTHER-EXPENSES> 357,000 <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 0 <INCOME-PRETAX> 1,991,000 <INCOME-TAX> 0 <INCOME-CONTINUING> 1,991,000 <DISCONTINUED> 574,000 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> 2,565,000 <EPS-PRIMARY> 0.41 <EPS-DILUTED> 0.00