<TABLE> <S> <C>

<ARTICLE>                              5
<MULTIPLIER>                           1,000
       
<S>                                            <C>
<PERIOD-TYPE>                                  12-MOS
<FISCAL-YEAR-END>                                                                AUG-31-1997
<PERIOD-END>                                                                     AUG-31-1997
<CASH>                                                                           2,361
<SECURITIES>                                                                     0
<RECEIVABLES>                                                                    251
<ALLOWANCES>                                                                     0
<INVENTORY>                                                                      0
<CURRENT-ASSETS>                                                                 2,689
<PP&E>                                                                           37,946
<DEPRECIATION>                                                                   7,280
<TOTAL-ASSETS>                                                                   33,355
<CURRENT-LIABILITIES>                                                            352
<BONDS>                                                                          0
<PREFERRED-MANDATORY>                                                            0
<PREFERRED>                                                                      116
<COMMON>                                                                         52
<OTHER-SE>                                                                       32,835
<TOTAL-LIABILITY-AND-EQUITY>                                                     33,355
<SALES>                                                                          4,416
<TOTAL-REVENUES>                                                                 4,515
<CGS>                                                                            0
<TOTAL-COSTS>                                                                    2,331
<OTHER-EXPENSES>                                                                 0
<LOSS-PROVISION>                                                                 0
<INTEREST-EXPENSE>                                                               0
<INCOME-PRETAX>                                                                  2,184
<INCOME-TAX>                                                                     0
<INCOME-CONTINUING>                                                              2,184
<DISCONTINUED>                                                                   0
<EXTRAORDINARY>                                                                  0
<CHANGES>                                                                        0
<NET-INCOME>                                                                     2,184
<EPS-PRIMARY>                                                                    .42
<EPS-DILUTED>                                                                    .42
        


<FN>
This schedule contains summary financial information extracted from the
consolidated balance sheet as of August 31, 1997, and the consolidated statement
of income for the year ended August 31, 1997.
</FN>

</TABLE>