<TABLE> <S> <C>


<ARTICLE>                                                             6
<LEGEND>
THIS  SCHEDULE  CONTAINS  SUMMARY  FINANCIAL  INFORMATION  EXTRACTED  FROM THE 
 FINANCIAL  STATEMENTS  INCLUDED  IN THE  MICROCAP LIQUIDATING  TRUST'S  
QUARTERLY  REPORT ON FORM 10-Q FOR THE PERIOD FROM  FEBRUARY 25, 1997 TO 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-31-1997
<PERIOD-START>                                              FEB-25-1997
<PERIOD-END>                                                MAR-31-1997
<INVESTMENTS-AT-COST>                                         2,224,750
<INVESTMENTS-AT-VALUE>                                        2,344,286
<RECEIVABLES>                                                   638,056
<ASSETS-OTHER>                                                   44,461
<OTHER-ITEMS-ASSETS>                                                  0
<TOTAL-ASSETS>                                               10,616,006
<PAYABLE-FOR-SECURITIES>                                              0
<SENIOR-LONG-TERM-DEBT>                                               0
<OTHER-ITEMS-LIABILITIES>                                     1,304,846
<TOTAL-LIABILITIES>                                           1,304,846
<SENIOR-EQUITY>                                                       0
<PAID-IN-CAPITAL-COMMON>                                              0
<SHARES-COMMON-STOCK>                                         2,427,281
<SHARES-COMMON-PRIOR>                                         2,427,281
<ACCUMULATED-NII-CURRENT>                                             0
<OVERDISTRIBUTION-NII>                                                0
<ACCUMULATED-NET-GAINS>                                               0
<OVERDISTRIBUTION-GAINS>                                              0
<ACCUM-APPREC-OR-DEPREC>                                        119,536
<NET-ASSETS>                                                  9,311,160
<DIVIDEND-INCOME>                                                     0
<INTEREST-INCOME>                                                39,147
<OTHER-INCOME>                                                        0
<EXPENSES-NET>                                                  158,991
<NET-INVESTMENT-INCOME>                                       (119,844)
<REALIZED-GAINS-CURRENT>                                              0
<APPREC-INCREASE-CURRENT>                                     (352,307)
<NET-CHANGE-FROM-OPS>                                         (472,151)
<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>                                        (472,151)
<ACCUMULATED-NII-PRIOR>                                               0
<ACCUMULATED-GAINS-PRIOR>                                             0
<OVERDISTRIB-NII-PRIOR>                                               0
<OVERDIST-NET-GAINS-PRIOR>                                            0
<GROSS-ADVISORY-FEES>                                                 0
<INTEREST-EXPENSE>                                                    0
<GROSS-EXPENSE>                                                       0
<AVERAGE-NET-ASSETS>                                          9,547,236
<PER-SHARE-NAV-BEGIN>                                              4.03
<PER-SHARE-NII>                                                   (.05)
<PER-SHARE-GAIN-APPREC>                                           (.14)
<PER-SHARE-DIVIDEND>                                                  0
<PER-SHARE-DISTRIBUTIONS>                                             0
<RETURNS-OF-CAPITAL>                                                  0
<PER-SHARE-NAV-END>                                                3.84
<EXPENSE-RATIO>                                                       0
<AVG-DEBT-OUTSTANDING>                                                0
<AVG-DEBT-PER-SHARE>                                                  0
        


</TABLE>