<ARTICLE> 5
       
                            
<PERIOD-TYPE>                  3-MOS
<FISCAL-YEAR-END>                          DEC-31-1995
<PERIOD-START>                             JAN-01-1995  
<PERIOD-END>                               MAR-31-1995  
<CASH>                                       1,735,486
<SECURITIES>                                         0
<RECEIVABLES>                               41,955,344<F1>
<ALLOWANCES>                                         0
<INVENTORY>                                          0
<CURRENT-ASSETS>                             1,812,521
<PP&E>                                               0
<DEPRECIATION>                                       0
<TOTAL-ASSETS>                              43,690,830
<CURRENT-LIABILITIES>                        1,640,992
<BONDS>                                     40,141,682<F2>
<COMMON>                                        50,000
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<OTHER-SE>                                   1,858,156
<TOTAL-LIABILITY-AND-EQUITY>                43,690,830
<SALES>                                              0
<TOTAL-REVENUES>                             1,069,492
<CGS>                                                0
<TOTAL-COSTS>                                        0
<OTHER-EXPENSES>                               976,568<F3>
<LOSS-PROVISION>                                     0
<INTEREST-EXPENSE>                                   0
<INCOME-PRETAX>                                 92,924
<INCOME-TAX>                                    32,524
<INCOME-CONTINUING>                             60,400
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                    60,400
<EPS-PRIMARY>                                     1.21 
<EPS-DILUTED>                                        0
        

<FN> 
<F1>  Receivable:  consists of A/R 77,035 and Collateral Notes Receivable 
      41,878,309

<F2>  Bonds:  Loans payable to affiliates 40,141,682

<F3>  Other Expenses:  Interest on loan agreements 639,120
                       general and admin. 337,448

</FN>