<ARTICLE> 5 <PERIOD-TYPE> 6-MOS <FISCAL-YEAR-END> DEC-31-1997 <PERIOD-START> JAN-01-1997 <PERIOD-END> JUN-30-1997 <CASH> 1,895,062 <SECURITIES> 0 <RECEIVABLES> 54,663,153 <ALLOWANCES> 0 <INVENTORY> 0 <CURRENT-ASSETS> 1,896,292 <PP&E> 0 <DEPRECIATION> 0 <TOTAL-ASSETS> 56,559,445 <CURRENT-LIABILITIES> 1,797,266 <BONDS> 52,056,605 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <COMMON> 50,000 <OTHER-SE> 2,655,574 <TOTAL-LIABILITY-AND-EQUITY> 56,559,445 <SALES> 0 <TOTAL-REVENUES> 2,624,429 <CGS> 0 <TOTAL-COSTS> 0 <OTHER-EXPENSES> 2,104,234 <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 0 <INCOME-PRETAX> 520,195 <INCOME-TAX> 209,029 <INCOME-CONTINUING> 311,166 <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> 311,166 <EPS-PRIMARY> 6.22 <EPS-DILUTED> 0