<ARTICLE> 5
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE MARCH
31, 1999 BALANCE SHEET AND THE STATEMENT OF INCOME AND RETAINED EARNINGS FOR THE
THREE MONTHS ENDED MARCH 31, 1999 INCLUDED IN THE COMPANY'S MARCH 31, 1999 10-Q
AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH 10-Q.
</LEGEND>
       
                             
<PERIOD-TYPE>                   3-MOS
<FISCAL-YEAR-END>                          DEC-31-1999
<PERIOD-START>                             JAN-01-1999
<PERIOD-END>                               MAR-31-1999
<CASH>                                          43,120
<SECURITIES>                                         0
<RECEIVABLES>                                4,859,813<F1>
<ALLOWANCES>                                         0
<INVENTORY>                                          0
<CURRENT-ASSETS>                             4,902,933
<PP&E>                                               0
<DEPRECIATION>                                       0
<TOTAL-ASSETS>                              83,402,933<F2>
<CURRENT-LIABILITIES>                            3,565
<BONDS>                                              0
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                  2,726,700
<COMMON>                                         2,000
<OTHER-SE>                                  80,670,668<F3>
<TOTAL-LIABILITY-AND-EQUITY>                83,402,933
<SALES>                                              0
<TOTAL-REVENUES>                             1,469,789<F4>
<CGS>                                                0
<TOTAL-COSTS>                                    8,293
<OTHER-EXPENSES>                                     0
<LOSS-PROVISION>                                     0
<INTEREST-EXPENSE>                                   0
<INCOME-PRETAX>                              1,461,496
<INCOME-TAX>                                    14,000
<INCOME-CONTINUING>                          1,447,496
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                 1,447,496
<EPS-PRIMARY>                                     1.06
<EPS-DILUTED>                                     1.06
<FN>
<F1>RECEIVABLES ARE DUE FROM AFFILIATED COMPANIES.
<F2>AN INVESTMENT IN PREFERRED SHARES OF CHIEFTAIN INTERNATIONAL (U.S.) INC., AT
COST OF $78,500,000 HAS BEEN INCLUDED IN TOTAL ASSETS.
<F3>ADDITIONAL PAID-IN CAPITAL OF $14,998,000 (ATTRIBUTABLE TO COMMON STOCK) AND
$60,676,203 (ATTRIBUTABLE TO PREFERRED STOCK) HAS BEEN ADDED TO RETAINED
EARNINGS OF $4,996,465 IN CALCULATING OTHER STOCKHOLDERS' EQUITY.
<F4>REVENUES ARE EARNED EXCLUSIVELY FROM TRANSACTIONS WITH PARENT COMPANY.
</FN>