<ARTICLE> 5
<LEGEND>
This schedule contains summary financial information extracted from the
Form 10-Q for the period ending June 30, 1997 and is qualified in its
entirety by reference to such 10-Q.
</LEGEND>
<MULTIPLIER> 1,000
       
                             
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          DEC-31-1997
<PERIOD-START>                             JAN-01-1997
<PERIOD-END>                               JUN-30-1997
<CASH>                                          12,797
<SECURITIES>                                    12,468
<RECEIVABLES>                                    1,212
<ALLOWANCES>                                         0
<INVENTORY>                                          0
<CURRENT-ASSETS>                                30,216
<PP&E>                                               0<F1>
<DEPRECIATION>                                       0<F1>
<TOTAL-ASSETS>                                  50,440
<CURRENT-LIABILITIES>                            2,956
<BONDS>                                              0
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<COMMON>                                            16
<OTHER-SE>                                      47,513
<TOTAL-LIABILITY-AND-EQUITY>                    50,440
<SALES>                                         11,015
<TOTAL-REVENUES>                                11,400
<CGS>                                           11,019
<TOTAL-COSTS>                                    1,783
<OTHER-EXPENSES>                                     0
<LOSS-PROVISION>                                     0
<INTEREST-EXPENSE>                                  89
<INCOME-PRETAX>                                  3,094
<INCOME-TAX>                                       (8)
<INCOME-CONTINUING>                                  0
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                     3,102
<EPS-PRIMARY>                                     1.76
<EPS-DILUTED>                                        0<F2>
<FN>
<F1>Disclosure not required on interim financial statements.
<F2>Computation not applicable.
</FN>