<ARTICLE> 5 <PERIOD-TYPE> 6-MOS <FISCAL-YEAR-END> DEC-31-1997 <PERIOD-START> JAN-01-1997 <PERIOD-END> JUN-30-1997 <CASH> 250,505 <SECURITIES> 0 <RECEIVABLES> 992,009 <ALLOWANCES> 0 <INVENTORY> 0 <CURRENT-ASSETS> 0 <PP&E> 6,036,525 <DEPRECIATION> 310,680 <TOTAL-ASSETS> 57,775,936 <CURRENT-LIABILITIES> 0 <BONDS> 5,045,326 <PREFERRED-MANDATORY> 0 <PREFERRED> 32,500,000 <COMMON> 105,710 <OTHER-SE> 14,458,262 <TOTAL-LIABILITY-AND-EQUITY> 57,775,936 <SALES> 16,658,969 <TOTAL-REVENUES> 16,658,969 <CGS> 0 <TOTAL-COSTS> 0 <OTHER-EXPENSES> 5,226,496 <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 233,065 <INCOME-PRETAX> 11,199,408 <INCOME-TAX> 2,296,998 <INCOME-CONTINUING> 13,496,406 <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> 13,496,406 <EPS-PRIMARY> 1.28 <EPS-DILUTED> 0