<ARTICLE>        5
<LEGEND>
        THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
        JUNE 30, 1998 QUARTERLY REPORT ON FORM 10-Q AND IS QUALIFIED IN ITS
        ENTIRETY BY REFERENCE TO SUCH QUARTERLY REPORT ON FORM 10-Q.
          
                                                 
    <MULTIPLIER>                                   1,000
    <PERIOD-TYPE>                                  3-MOS
    <FISCAL-YEAR-END>                              DEC-31-1998
    <PERIOD-START>                                 APR-01-1998
    <PERIOD-END>                                   JUN-30-1998
    <CASH>                                                   0
    <SECURITIES>                                     1,046,340
    <RECEIVABLES>                                       22,868
    <ALLOWANCES>                                             0
    <INVENTORY>                                              0
    <CURRENT-ASSETS>                                         0
    <PP&E>                                                   0
    <DEPRECIATION>                                           0
    <TOTAL-ASSETS>                                   1,069,362
    <CURRENT-LIABILITIES>                              770,088
    <BONDS>                                                  0
    <PREFERRED-MANDATORY>                                    0
    <PREFERRED>                                              0
    <COMMON>                                           296,942
    <OTHER-SE>                                           2,332
    <TOTAL-LIABILITY-AND-EQUITY>                     1,069,362
    <SALES>                                                  0
    <TOTAL-REVENUES>                                    10,828
    <CGS>                                                    0
    <TOTAL-COSTS>                                            0
    <OTHER-EXPENSES>                                     1,068
    <LOSS-PROVISION>                                         0
    <INTEREST-EXPENSE>                                   4,379
    <INCOME-PRETAX>                                      5,381
    <INCOME-TAX>                                             0
    <INCOME-CONTINUING>                                  5,381
    <DISCONTINUED>                                           0
    <EXTRAORDINARY>                                          0
    <CHANGES>                                                0
    <NET-INCOME>                                         5,381
    <EPS-PRIMARY>                                         0.25
    <EPS-DILUTED>                                         0.25