<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 11 OF THE COMPANY'S FORM 10-Q FOR THE THREE MONTHS ENDED MARCH 31 1998,
AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
       
<S>                             <C>
<PERIOD-TYPE>                   3-MOS
<FISCAL-YEAR-END>                          DEC-31-1997
<PERIOD-END>                               MAR-31-1998
<INVESTMENTS-AT-COST>                        2,817,768
<INVESTMENTS-AT-VALUE>                       2,997,113
<RECEIVABLES>                                      353
<ASSETS-OTHER>                                       0
<OTHER-ITEMS-ASSETS>                           576,610
<TOTAL-ASSETS>                               3,576,076
<PAYABLE-FOR-SECURITIES>                       180,512
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                    1,015,097
<TOTAL-LIABILITIES>                          1,195,609
<SENIOR-EQUITY>                              2,380,467
<PAID-IN-CAPITAL-COMMON>                     2,901,243
<SHARES-COMMON-STOCK>                          640,256
<SHARES-COMMON-PRIOR>                          640,256
<ACCUMULATED-NII-CURRENT>                    2,007,564
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                      1,301,039
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                     (527,179)
<NET-ASSETS>                                 2,380,467
<DIVIDEND-INCOME>                                    0
<INTEREST-INCOME>                                3,456
<OTHER-INCOME>                                  13,008
<EXPENSES-NET>                                 104,927
<NET-INVESTMENT-INCOME>                       (88,464)
<REALIZED-GAINS-CURRENT>                        15,702
<APPREC-INCREASE-CURRENT>                      148,428
<NET-CHANGE-FROM-OPS>                           75,666
<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>                          75,666
<ACCUMULATED-NII-PRIOR>                       (80,150)
<ACCUMULATED-GAINS-PRIOR>                      478,541
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                                0
<INTEREST-EXPENSE>                              14,736
<GROSS-EXPENSE>                                104,927
<AVERAGE-NET-ASSETS>                         2,496,481
<PER-SHARE-NAV-BEGIN>                             3.60
<PER-SHARE-NII>                                  (.13)
<PER-SHARE-GAIN-APPREC>                            .25
<PER-SHARE-DIVIDEND>                                 0
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                               3.72
<EXPENSE-RATIO>                                    5.8
<AVG-DEBT-OUTSTANDING>                       1,352,237
<AVG-DEBT-PER-SHARE>                             2,712
        

</TABLE>