<TABLE> <S> <C>

<ARTICLE> 6
<LEGEND>
This schedule contains Summary Financial Information extracted from the
registrant's Statement of Assets and Liabilities as of June 30, 1998 unaudited),
and Statement of Operations, Statement of Changes in Net Assets, and Statement
of Cash Flows for the period ended June 30, 1998 (unaudited), and is qualified
in its entirety by reference to such Statement of Assets and Liabilities, 
Statement of Operations, Statement of Changes in Net Assets, and Statement of
Cash Flows.
</LEGEND>
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          DEC-31-1997
<PERIOD-END>                               JUN-30-1998
<INVESTMENTS-AT-COST>                        8,857,185
<INVESTMENTS-AT-VALUE>                       8,816,534
<RECEIVABLES>                                    1,826
<ASSETS-OTHER>                                  57,200
<OTHER-ITEMS-ASSETS>                         1,094,248
<TOTAL-ASSETS>                              10,121,064
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                      1,381,187
<OTHER-ITEMS-LIABILITIES>                      142,551
<TOTAL-LIABILITIES>                          1,523,738
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                     7,976,773
<SHARES-COMMON-STOCK>                          921,627
<SHARES-COMMON-PRIOR>                          921,627
<ACCUMULATED-NII-CURRENT>                  (1,311,602)
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                      2,158,540
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                     (226,385)
<NET-ASSETS>                                 8,597,326
<DIVIDEND-INCOME>                                    0
<INTEREST-INCOME>                              420,554
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                 942,225
<NET-INVESTMENT-INCOME>                      (521,681)
<REALIZED-GAINS-CURRENT>                     1,546,845
<APPREC-INCREASE-CURRENT>                    (845,997)
<NET-CHANGE-FROM-OPS>                        (179,167)
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                            0
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                              0
<NUMBER-OF-SHARES-REDEEMED>                          0
<SHARES-REINVESTED>                                  0
<NET-CHANGE-IN-ASSETS>                       (179,167)
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                            0
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                          431,356
<INTEREST-EXPENSE>                             314,081
<GROSS-EXPENSE>                                942,225
<AVERAGE-NET-ASSETS>                         8,507,743
<PER-SHARE-NAV-BEGIN>                             9.13
<PER-SHARE-NII>                                  (.20)
<PER-SHARE-GAIN-APPREC>                           1.68
<PER-SHARE-DIVIDEND>                              0.00
<PER-SHARE-DISTRIBUTIONS>                         0.00
<RETURNS-OF-CAPITAL>                              0.00
<PER-SHARE-NAV-END>                               9.33
<EXPENSE-RATIO>                                    .11
<AVG-DEBT-OUTSTANDING>                       4,681,173
<AVG-DEBT-PER-SHARE>                              5.08
        

</TABLE>