<ARTICLE> 5
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
COMPANY'S CONSOLIDATED STATEMENTS OF EARNINGS AND CONSOLIDATED BALANCE
SHEETS AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL
STATEMENTS.
</LEGEND>
       
                             
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          DEC-31-1996
<PERIOD-START>                             JAN-01-1996
<PERIOD-END>                               JUN-30-1996
<CASH>                                         571,650
<SECURITIES>                                13,564,222
<RECEIVABLES>                                   19,004
<ALLOWANCES>                                         0
<INVENTORY>                                          0
<CURRENT-ASSETS>                            16,723,227
<PP&E>                                               0
<DEPRECIATION>                                       0
<TOTAL-ASSETS>                              27,997,352
<CURRENT-LIABILITIES>                        2,910,738
<BONDS>                                              0
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<COMMON>                                     6,254,547
<OTHER-SE>                                   (897,672)
<TOTAL-LIABILITY-AND-EQUITY>                27,997,352
<SALES>                                              0
<TOTAL-REVENUES>                             1,135,431
<CGS>                                                0
<TOTAL-COSTS>                                1,243,596
<OTHER-EXPENSES>                                     0
<LOSS-PROVISION>                                     0
<INTEREST-EXPENSE>                                   0
<INCOME-PRETAX>                                      0
<INCOME-TAX>                                         0
<INCOME-CONTINUING>                                  0
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                 (108,165)
<EPS-PRIMARY>                                    (.04)
<EPS-DILUTED>                                        0