<TABLE> <S> <C>

<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
STATEMENT OF ASSETS AND LIABILITIES AND STATEMENT OF OPERATIONS ON PAGES 4
THROUGH 7 AND 27 THROUGH 30 OF THE COMPANY'S FORM 10-Q FOR THE NINE MONTHS ENDED
SEPTEMBER 30, 1997, AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH
FINANCIAL STATEMENTS.
</LEGEND>
       
<S>                             <C>
<PERIOD-TYPE>                   9-MOS
<FISCAL-YEAR-END>                          DEC-31-1996
<PERIOD-END>                               SEP-30-1997
<INVESTMENTS-AT-COST>                        2,669,321
<INVESTMENTS-AT-VALUE>                       2,421,830
<RECEIVABLES>                                      112
<ASSETS-OTHER>                                     586
<OTHER-ITEMS-ASSETS>                         1,553,193
<TOTAL-ASSETS>                               3,975,721
<PAYABLE-FOR-SECURITIES>                       107,395
<SENIOR-LONG-TERM-DEBT>                        748,709
<OTHER-ITEMS-LIABILITIES>                      608,445
<TOTAL-LIABILITIES>                          1,464,549
<SENIOR-EQUITY>                              2,511,172
<PAID-IN-CAPITAL-COMMON>                     2,901,243
<SHARES-COMMON-STOCK>                          640,256
<SHARES-COMMON-PRIOR>                          640,256
<ACCUMULATED-NII-CURRENT>                  (2,153,502)
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                      1,829,519
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                      (72,419)
<NET-ASSETS>                                 2,511,172
<DIVIDEND-INCOME>                                    0
<INTEREST-INCOME>                               36,599
<OTHER-INCOME>                                  60,890
<EXPENSES-NET>                                 357,688
<NET-INVESTMENT-INCOME>                      (260,199)
<REALIZED-GAINS-CURRENT>                       492,807
<APPREC-INCREASE-CURRENT>                     (52,169)
<NET-CHANGE-FROM-OPS>                          180,439
<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>                       (180,439)
<ACCUMULATED-NII-PRIOR>                      (320,581)
<ACCUMULATED-GAINS-PRIOR>                    1,937,655
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                                0
<INTEREST-EXPENSE>                              23,164
<GROSS-EXPENSE>                                357,688
<AVERAGE-NET-ASSETS>                         2,420,952
<PER-SHARE-NAV-BEGIN>                             3.64
<PER-SHARE-NII>                                  (.40)
<PER-SHARE-GAIN-APPREC>                            .68
<PER-SHARE-DIVIDEND>                                 0
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                               3.92
<EXPENSE-RATIO>                                    .15
<AVG-DEBT-OUTSTANDING>                       1,301,955
<AVG-DEBT-PER-SHARE>                              2.03
        

</TABLE>