<ARTICLE>                     5
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE 
BALANCE SHEET AND STATEMENT OF OPERATIONS AND IS QUALIFIED IN ITS 
ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS

</LEGEND>
       
                             
<PERIOD-TYPE>                   12-MOS
<FISCAL-YEAR-END>                              SEP-30-1996
<PERIOD-END>                                   SEP-30-1996
<CASH>                                         21,440,700
<SECURITIES>                                   15,655,608
<RECEIVABLES>                                  1,444,724
<ALLOWANCES>                                   0
<INVENTORY>                                    0
<CURRENT-ASSETS>                               37,067,202
<PP&E>                                         391,285
<DEPRECIATION>                                 (92,753)
<TOTAL-ASSETS>                                 38,945,004
<CURRENT-LIABILITIES>                          2,031,350
<BONDS>                                        118,113
<PREFERRED-MANDATORY>                          0
<PREFERRED>                                    0
<COMMON>                                       6,739
<OTHER-SE>                                     36,220,734
<TOTAL-LIABILITY-AND-EQUITY>                   38,945,004
<SALES>                                        0
<TOTAL-REVENUES>                               6,351,088
<CGS>                                          0
<TOTAL-COSTS>                                  0
<OTHER-EXPENSES>                               0
<LOSS-PROVISION>                               0
<INTEREST-EXPENSE>                             0
<INCOME-PRETAX>                                1,219,865
<INCOME-TAX>                                   37,000
<INCOME-CONTINUING>                            1,182,865
<DISCONTINUED>                                 0
<EXTRAORDINARY>                                0
<CHANGES>                                      0
<NET-INCOME>                                   1,182,865
<EPS-PRIMARY>                                  0.20
<EPS-DILUTED>                                  0.20