<ARTICLE> 5 <LEGEND> THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM MARCH 31, 1998 QUARTERLY REPORT ON FORM 10-Q AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH. <PERIOD-TYPE> 3-MOS <FISCAL-YEAR-END> DEC-31-1998 <PERIOD-START> MAR-24-1998 <PERIOD-END> MAR-31-1998 <CASH> 0 <SECURITIES> 382,890,695 <RECEIVABLES> 2,950,673 <ALLOWANCES> 0 <INVENTORY> 0 <CURRENT-ASSETS> 0 <PP&E> 0 <DEPRECIATION> 0 <TOTAL-ASSETS> 385,841,368 <CURRENT-LIABILITIES> 88,493,950 <BONDS> 0 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <COMMON> 297,171,892 <OTHER-SE> 175,526 <TOTAL-LIABILITY-AND-EQUITY> 385,841,368 <SALES> 0 <TOTAL-REVENUES> 215,339 <CGS> 0 <TOTAL-COSTS> 0 <OTHER-EXPENSES> 42,143 <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 0 <INCOME-PRETAX> 173,196 <INCOME-TAX> 0 <INCOME-CONTINUING> 173,196 <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> 173,196 <EPS-PRIMARY> 0.008 <EPS-DILUTED> 0.008