<TABLE> <S> <C>

<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
STATEMENT OF ASSETS AND LIABILITIES AND STATEMENT OF OPERATIONS FOUND ON PAGES
4, 5 AND 14 OF THE COMPANY'S FORM 10-Q FOR THE THREE MONTHS ENDED MARCH 31, 1997
AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
       
<S>                             <C>
<PERIOD-TYPE>                   3-MOS
<FISCAL-YEAR-END>                          DEC-31-1996
<PERIOD-END>                               MAR-31-1997
<INVESTMENTS-AT-COST>                        2,419,118
<INVESTMENTS-AT-VALUE>                       2,276,354
<RECEIVABLES>                                      548
<ASSETS-OTHER>                                  11,136
<OTHER-ITEMS-ASSETS>                           815,467
<TOTAL-ASSETS>                               3,103,505
<PAYABLE-FOR-SECURITIES>                       148,225
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                      342,786
<TOTAL-LIABILITIES>                            491,011
<SENIOR-EQUITY>                              2,612,494
<PAID-IN-CAPITAL-COMMON>                     2,901,243
<SHARES-COMMON-STOCK>                          640,256
<SHARES-COMMON-PRIOR>                          640,256
<ACCUMULATED-NII-CURRENT>                  (1,973,453)
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                      1,815,252
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                     (136,951)
<NET-ASSETS>                                 2,612,494
<DIVIDEND-INCOME>                                    0
<INTEREST-INCOME>                               12,565
<OTHER-INCOME>                                     152
<EXPENSES-NET>                                 144,113
<NET-INVESTMENT-INCOME>                       (80,150)
<REALIZED-GAINS-CURRENT>                       478,541
<APPREC-INCREASE-CURRENT>                    (116,629)
<NET-CHANGE-FROM-OPS>                          281,762
<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>                         281,762
<ACCUMULATED-NII-PRIOR>                    (1,893,303)
<ACCUMULATED-GAINS-PRIOR>                    1,336,711
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                                0
<INTEREST-EXPENSE>                              11,253
<GROSS-EXPENSE>                                144,113
<AVERAGE-NET-ASSETS>                         2,471,613
<PER-SHARE-NAV-BEGIN>                             3.64
<PER-SHARE-NII>                                  (.12)
<PER-SHARE-GAIN-APPREC>                            .56
<PER-SHARE-DIVIDEND>                                 0
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                               4.08
<EXPENSE-RATIO>                                    .05
<AVG-DEBT-OUTSTANDING>                         815,186
<AVG-DEBT-PER-SHARE>                              1.27
        

</TABLE>