<TABLE> <S> <C>

<ARTICLE> 6
<MULTIPLIER> 1,000
       
<S>                             <C>
<PERIOD-TYPE>                   9-MOS
<FISCAL-YEAR-END>                          DEC-31-1998
<PERIOD-END>                               SEP-30-1998
<INVESTMENTS-AT-COST>                        2,966,813
<INVESTMENTS-AT-VALUE>                       3,257,033
<RECEIVABLES>                                    4,909
<ASSETS-OTHER>                                   7,280
<OTHER-ITEMS-ASSETS>                           668,288
<TOTAL-ASSETS>                               3,937,510
<PAYABLE-FOR-SECURITIES>                       218,216
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                    1,138,800
<TOTAL-LIABILITIES>                          1,357,016
<SENIOR-EQUITY>                              2,580,494
<PAID-IN-CAPITAL-COMMON>                     2,901,243
<SHARES-COMMON-STOCK>                          640,256
<SHARES-COMMON-PRIOR>                          640,256
<ACCUMULATED-NII-CURRENT>                  (2,298,384)
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                      1,681,012
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                       290,220
<NET-ASSETS>                                 2,580,494
<DIVIDEND-INCOME>                                    0
<INTEREST-INCOME>                               47,170
<OTHER-INCOME>                                   2,134
<EXPENSES-NET>                                 477,671
<NET-INVESTMENT-INCOME>                      (379,284)
<REALIZED-GAINS-CURRENT>                       185,643
<APPREC-INCREASE-CURRENT>                      190,743
<NET-CHANGE-FROM-OPS>                          275,692
<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>                         275,692
<ACCUMULATED-NII-PRIOR>                    (1,919,099)
<ACCUMULATED-GAINS-PRIOR>                    1,285,337
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                                0
<INTEREST-EXPENSE>                              53,944
<GROSS-EXPENSE>                                477,671
<AVERAGE-NET-ASSETS>                         2,442,648
<PER-SHARE-NAV-BEGIN>                             3.60
<PER-SHARE-NII>                                  (.59)
<PER-SHARE-GAIN-APPREC>                            .62
<PER-SHARE-DIVIDEND>                                 0
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                               4.03
<EXPENSE-RATIO>                                    .20
<AVG-DEBT-OUTSTANDING>                       1,432,940
<AVG-DEBT-PER-SHARE>                              2.24
        


</TABLE>