<ARTICLE> 5 <PERIOD-TYPE> 3-MOS <FISCAL-YEAR-END> OCT-31-1998 <PERIOD-START> NOV-01-1997 <PERIOD-END> JAN-31-1998 <CASH> 3,457,686 <SECURITIES> 0 <RECEIVABLES> 2,310 <ALLOWANCES> 0 <INVENTORY> 0 <CURRENT-ASSETS> 0 <PP&E> 0 <DEPRECIATION> 0 <TOTAL-ASSETS> 3,459,996 <CURRENT-LIABILITIES> 0 <BONDS> 0 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <COMMON> 0 <OTHER-SE> 3,365,842 <TOTAL-LIABILITY-AND-EQUITY> 3,459,996 <SALES> 0 <TOTAL-REVENUES> 276,284 <CGS> 0 <TOTAL-COSTS> 0 <OTHER-EXPENSES> 247,189 <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 134,661 <INCOME-PRETAX> 29,095 <INCOME-TAX> 0 <INCOME-CONTINUING> 0 <DISCONTINUED> 0 <EXTRAORDINARY> 2,135,338 <CHANGES> 0 <NET-INCOME> 2,164,433 <EPS-PRIMARY> 0 <EPS-DILUTED> 0