<TABLE> <S> <C>

<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE STATEMENT
OF ASSETS & LIABILITIES, STMNT OF OPERATIONS, SCHEDULE OF INVESTMENTS, STMNT OF
CHANGES IN NET ASSETS AND STATEMENT OF STOCKHOLDERS EQUITY ON PG 4-16 OF THE
COMPANY'S QUARTERLY REPORT ON FORM 10-Q FOR THE QUARTER ENDED SEPT. 30, 1996 AND
IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
       
<S>                             <C>
<PERIOD-TYPE>                   9-MOS
<FISCAL-YEAR-END>                          DEC-31-1995
<PERIOD-START>                             JAN-01-1996
<PERIOD-END>                               SEP-30-1996
<INVESTMENTS-AT-COST>                        2,155,078
<INVESTMENTS-AT-VALUE>                       1,852,518
<RECEIVABLES>                                  215,283
<ASSETS-OTHER>                               1,223,842
<OTHER-ITEMS-ASSETS>                          (64,552)
<TOTAL-ASSETS>                               3,356,195
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                        362,077
<OTHER-ITEMS-LIABILITIES>                      392,880
<TOTAL-LIABILITIES>                            754,957
<SENIOR-EQUITY>                                  6,403
<PAID-IN-CAPITAL-COMMON>                     2,901,243
<SHARES-COMMON-STOCK>                          640,256
<SHARES-COMMON-PRIOR>                          640,256
<ACCUMULATED-NII-CURRENT>                  (1,785,195)
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                      1,725,172
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                     (246,384)
<NET-ASSETS>                                 2,601,239
<DIVIDEND-INCOME>                                   21
<INTEREST-INCOME>                               13,979
<OTHER-INCOME>                                 123,940
<EXPENSES-NET>                                 458,521
<NET-INVESTMENT-INCOME>                      (320,581)
<REALIZED-GAINS-CURRENT>                     1,937,655
<APPREC-INCREASE-CURRENT>                    (323,401)
<NET-CHANGE-FROM-OPS>                        1,293,673
<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>                       1,293,673
<ACCUMULATED-NII-PRIOR>                    (1,628,185)
<ACCUMULATED-GAINS-PRIOR>                     (78,700)
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                                0
<INTEREST-EXPENSE>                              35,313
<GROSS-EXPENSE>                                458,521
<AVERAGE-NET-ASSETS>                         2,115,434
<PER-SHARE-NAV-BEGIN>                            2.042
<PER-SHARE-NII>                                   .215
<PER-SHARE-GAIN-APPREC>                          2.021
<PER-SHARE-DIVIDEND>                                 0
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                               4.06
<EXPENSE-RATIO>                                    .29
<AVG-DEBT-OUTSTANDING>                         835,353
<AVG-DEBT-PER-SHARE>                              1.30
        

</TABLE>