<TABLE> <S> <C>

<ARTICLE> 6
<LEGEND>
This schedule contains Summary Financial Information extracted from the
registrant's Statement of Assets and Liabilities as of March 31, 1998.
unaudited), and Statement of Operations, Statement of Changes in Net Assets, and
Statement of Cash Flows for the period ended March 31, 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>                   3-MOS
<FISCAL-YEAR-END>                          DEC-31-1997
<PERIOD-END>                               MAR-31-1998
<INVESTMENTS-AT-COST>                       14,003,682
<INVESTMENTS-AT-VALUE>                      14,810,238
<RECEIVABLES>                                    2,025
<ASSETS-OTHER>                                  65,000
<OTHER-ITEMS-ASSETS>                         1,390,021
<TOTAL-ASSETS>                              16,274,284
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                      7,747,099
<OTHER-ITEMS-LIABILITIES>                      257,456
<TOTAL-LIABILITIES>                          8,044,555
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                     7,976,773
<SHARES-COMMON-STOCK>                          921,627
<SHARES-COMMON-PRIOR>                          921,627
<ACCUMULATED-NII-CURRENT>                  (1,111,229)
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                        796,207
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                       607,978
<NET-ASSETS>                                 8,269,729
<DIVIDEND-INCOME>                                    0
<INTEREST-INCOME>                              197,174
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                 518,482
<NET-INVESTMENT-INCOME>                      (321,308)
<REALIZED-GAINS-CURRENT>                       184,511
<APPREC-INCREASE-CURRENT>                     (11,634)
<NET-CHANGE-FROM-OPS>                        (148,431)
<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>                       (148,431)
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                            0
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                          239,093
<INTEREST-EXPENSE>                             170,665
<GROSS-EXPENSE>                                518,482
<AVERAGE-NET-ASSETS>                         8,357,444
<PER-SHARE-NAV-BEGIN>                             9.13
<PER-SHARE-NII>                                  (.35)
<PER-SHARE-GAIN-APPREC>                           0.19
<PER-SHARE-DIVIDEND>                              0.00
<PER-SHARE-DISTRIBUTIONS>                         0.17
<RETURNS-OF-CAPITAL>                              0.00
<PER-SHARE-NAV-END>                               8.97
<EXPENSE-RATIO>                                    .06
<AVG-DEBT-OUTSTANDING>                       7,864,128
<AVG-DEBT-PER-SHARE>                              8.53
        

</TABLE>