<ARTICLE>5 <PERIOD-TYPE> 6-MOS <FISCAL-YEAR-END> DEC-31-1997 <PERIOD-END> JUN-30-1997 <CASH> 12263353 <SECURITIES> 0 <RECEIVABLES> 411450 <ALLOWANCES> 411450 <INVENTORY> 0 <CURRENT-ASSETS> 0 <PP&E> 960000 <DEPRECIATION> 52500 <TOTAL-ASSETS> 13175730 <CURRENT-LIABILITIES> 0 <BONDS> 0 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <COMMON> 0 <OTHER-SE> 11145469 <TOTAL-LIABILITY-AND-EQUITY> 13175730 <SALES> 0 <TOTAL-REVENUES> 2482826 <CGS> 0 <TOTAL-COSTS> 0 <OTHER-EXPENSES> 260972 <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 0 <INCOME-PRETAX> 2221854 <INCOME-TAX> 0 <INCOME-CONTINUING> 2221854 <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> 2221854 <EPS-PRIMARY> 12.24 <EPS-DILUTED> 0