<TABLE> <S> <C>
 

<ARTICLE>   5
<LEGEND>
         This schedule contains certain summary information extracted from the
financial statements dated June 30, 1998 and is qualified in its entirety by
reference to such financial information.
</LEGEND>

                                                              
                                        
                                                     
<S>                             <C>                  
<PERIOD-TYPE>                      6-MOS                                  
<FISCAL-YEAR-END>                  DEC-31-1998                                   
<PERIOD-START>                     JAN-01-1998                                      
<PERIOD-END>                       JUN-30-1998                                       
<CASH>                             2,905,908                                              
<SECURITIES>                       7,340,558                                        
<RECEIVABLES>                      5,150,403                                       
<ALLOWANCES>                       0                                         
<INVENTORY>                        59,839,563                                        
<CURRENT-ASSETS>                   79,979,549                                    
<PP&E>                             1,583,210                                           
<DEPRECIATION>                     0                                               
<TOTAL-ASSETS>                     90,245,337                                     
<CURRENT-LIABILITIES>              73,791,089                             
<BONDS>                            0                                         
<COMMON>                           31,858                                           
<PREFERRED-MANDATORY>              0                              
<PREFERRED>                        4                                                              
<OTHER-SE>                         16,422,386                                          
<TOTAL-LIABILITY-AND-EQUITY>       90,245,337                        
<SALES>                            0                                        
<TOTAL-REVENUES>                   12,945,695                                  
<CGS>                              0                                         
<TOTAL-COSTS>                      10,203,504                                      
<OTHER-EXPENSES>                   0                                   
<LOSS-PROVISION>                   0                                  
<INTEREST-EXPENSE>                 2,210,085                                 
<INCOME-PRETAX>                    455,068                                    
<INCOME-TAX>                       50,523                                      
<INCOME-CONTINUING>                404,545                                 
<DISCONTINUED>                     0                                      
<EXTRAORDINARY>                    0                                    
<CHANGES>                          0                                           
<NET-INCOME>                       404,545                                     
<EPS-PRIMARY>                      0.047                                       
<EPS-DILUTED>                      0.047                      
                                                      
                                                      

</TABLE>