<ARTICLE> 5 <PERIOD-TYPE> 3-MOS <FISCAL-YEAR-END> DEC-31-1997 <PERIOD-START> JAN-01-1997 <PERIOD-END> MAR-31-1997 <CASH> 9,463,600 <SECURITIES> 2,717,000 <RECEIVABLES> 203,700 <ALLOWANCES> 0 <INVENTORY> 0 <CURRENT-ASSETS> 12,384,300 <PP&E> 12,993,300 <DEPRECIATION> 3,752,500 <TOTAL-ASSETS> 22,289,700 <CURRENT-LIABILITIES> 9,701,300 <BONDS> 0 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <COMMON> 0 <OTHER-SE> 12,587,900 <TOTAL-LIABILITY-AND-EQUITY> 22,289,700 <SALES> 0 <TOTAL-REVENUES> 1,217,900 <CGS> 0 <TOTAL-COSTS> 315,600 <OTHER-EXPENSES> 41,500 <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 0 <INCOME-PRETAX> 682,100 <INCOME-TAX> 0 <INCOME-CONTINUING> 682,100 <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> 682,100 <EPS-PRIMARY> .93 <EPS-DILUTED> .93