<ARTICLE>   5 
        
                                                                
<PERIOD-TYPE>                                                     6-MOS 
<FISCAL-YEAR-END>                                              JAN-31-1997 
<PERIOD-END>                                                   JUL-31-1996 
<CASH>                                                              76,732 
<SECURITIES>                                                     5,862,048 
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<ALLOWANCES>                                                             0 
<INVENTORY>                                                              0 
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<PP&E>                                                              19,156 
<DEPRECIATION>                                                       4,777 
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<CURRENT-LIABILITIES>                                                    0 
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<PREFERRED>                                                              0 
<OTHER-SE>                                                         401,517 
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<SALES>                                                          1,789,051 
<TOTAL-REVENUES>                                                   263,684 
<CGS>                                                                    0 
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<INCOME-TAX>                                                       506,494 
<INCOME-CONTINUING>                                                780,161 
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<EXTRAORDINARY>                                                          0 
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<NET-INCOME>                                                     1,311,594 
<EPS-PRIMARY>                                                          .49 
<EPS-DILUTED>                                                          .49