<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 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-31-1997
<PERIOD-START>                                              FEB-25-1997
<PERIOD-END>                                                SEP-30-1997
<INVESTMENTS-AT-COST>                                         2,224,750
<INVESTMENTS-AT-VALUE>                                        2,433,996
<RECEIVABLES>                                                   339,633
<ASSETS-OTHER>                                                   10,962
<OTHER-ITEMS-ASSETS>                                          4,759,774
<TOTAL-ASSETS>                                                7,544,365
<PAYABLE-FOR-SECURITIES>                                              0
<SENIOR-LONG-TERM-DEBT>                                               0
<OTHER-ITEMS-LIABILITIES>                                       165,245
<TOTAL-LIABILITIES>                                             165,245
<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>                                        209,246
<NET-ASSETS>                                                  7,379,120
<DIVIDEND-INCOME>                                                     0
<INTEREST-INCOME>                                               215,698
<OTHER-INCOME>                                                    1,196
<EXPENSES-NET>                                                  371,207
<NET-INVESTMENT-INCOME>                                       (154,313)
<REALIZED-GAINS-CURRENT>                                        440,000
<APPREC-INCREASE-CURRENT>                                     (262,597)
<NET-CHANGE-FROM-OPS>                                            23,090
<EQUALIZATION>                                                        0
<DISTRIBUTIONS-OF-INCOME>                                             0
<DISTRIBUTIONS-OF-GAINS>                                              0
<DISTRIBUTIONS-OTHER>                                         2,427,281
<NUMBER-OF-SHARES-SOLD>                                               0
<NUMBER-OF-SHARES-REDEEMED>                                           0
<SHARES-REINVESTED>                                                   0
<NET-CHANGE-IN-ASSETS>                                      (2,404,191)
<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>                                          8,581,216
<PER-SHARE-NAV-BEGIN>                                              4.03
<PER-SHARE-NII>                                                   (.06)
<PER-SHARE-GAIN-APPREC>                                             .07
<PER-SHARE-DIVIDEND>                                                  0
<PER-SHARE-DISTRIBUTIONS>                                        (1.00)
<RETURNS-OF-CAPITAL>                                                  0
<PER-SHARE-NAV-END>                                                3.04
<EXPENSE-RATIO>                                                       0
<AVG-DEBT-OUTSTANDING>                                                0
<AVG-DEBT-PER-SHARE>                                                  0
        


</TABLE>