<ARTICLE> 5
       
                             
<PERIOD-TYPE>                   YEAR
<FISCAL-YEAR-END>                          DEC-31-1995
<PERIOD-START>                             JAN-01-1995
<PERIOD-END>                               DEC-31-1995
<CASH>                                       1,969,196
<SECURITIES>                                         0
<RECEIVABLES>                                   20,800
<ALLOWANCES>                                         0
<INVENTORY>                                          0
<CURRENT-ASSETS>                                     0
<PP&E>                                               0
<DEPRECIATION>                                       0
<TOTAL-ASSETS>                              42,292,052
<CURRENT-LIABILITIES>                                0
<BONDS>                                      1,587,623
<COMMON>                                         1,000
<PREFERRED-MANDATORY>                       40,000,000
<PREFERRED>                                          0
<OTHER-SE>                                     169,592
<TOTAL-LIABILITY-AND-EQUITY>                42,292,052
<SALES>                                              0
<TOTAL-REVENUES>                             1,869,296
<CGS>                                                0
<TOTAL-COSTS>                                  200,208
<OTHER-EXPENSES>                               329,496
<LOSS-PROVISION>                                     0
<INTEREST-EXPENSE>                                   0
<INCOME-PRETAX>                              1,339,592
<INCOME-TAX>                                   457,000
<INCOME-CONTINUING>                                  0
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                   882,592
<EPS-PRIMARY>                                   (2.79)
<EPS-DILUTED>                                        0