<TABLE> <S> <C>

<ARTICLE>                     6
       
<S>                                            <C>
<PERIOD-TYPE>                                  YEAR
<FISCAL-YEAR-END>                              MAR-31-1997
<PERIOD-END>                                   MAR-31-1997 
<INVESTMENTS-AT-COST>                           20,067,004
<INVESTMENTS-AT-VALUE>                          20,332,054
<RECEIVABLES>                                            0
<ASSETS-OTHER>                                     416,628
<OTHER-ITEMS-ASSETS>                                     0
<TOTAL-ASSETS>                                  20,748,682
<PAYABLE-FOR-SECURITIES>                                 0
<SENIOR-LONG-TERM-DEBT>                          9,842,665
<OTHER-ITEMS-LIABILITIES>                          295,995
<TOTAL-LIABILITIES>                             10,138,660
<SENIOR-EQUITY>                                          0
<PAID-IN-CAPITAL-COMMON>                        10,901,063
<SHARES-COMMON-STOCK>                            5,023,361
<SHARES-COMMON-PRIOR>                            5,023,361
<ACCUMULATED-NII-CURRENT>                         (556,091)
<OVERDISTRIBUTION-NII>                                   0
<ACCUMULATED-NET-GAINS>                                  0
<OVERDISTRIBUTION-GAINS>                                 0
<ACCUM-APPREC-OR-DEPREC>                           265,050
<NET-ASSETS>                                    10,610,022
<DIVIDEND-INCOME>                                   55,650
<INTEREST-INCOME>                                1,234,322
<OTHER-INCOME>                                     146,985
<EXPENSES-NET>                                   1,731,499
<NET-INVESTMENT-INCOME>                           (294,542)
<REALIZED-GAINS-CURRENT>                            57,349
<APPREC-INCREASE-CURRENT>                          581,745
<NET-CHANGE-FROM-OPS>                              639,094
<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>                             344,552
<ACCUMULATED-NII-PRIOR>                                  0
<ACCUMULATED-GAINS-PRIOR>                                0
<OVERDISTRIB-NII-PRIOR>                                  0
<OVERDIST-NET-GAINS-PRIOR>                               0
<GROSS-ADVISORY-FEES>                                    0
<INTEREST-EXPENSE>                                 780,646
<GROSS-EXPENSE>                                  1,731,499
<AVERAGE-NET-ASSETS>                            10,437,746
<PER-SHARE-NAV-BEGIN>                                 2.04
<PER-SHARE-NII>                                          0
<PER-SHARE-GAIN-APPREC>                                  0
<PER-SHARE-DIVIDEND>                                     0
<PER-SHARE-DISTRIBUTIONS>                                0
<RETURNS-OF-CAPITAL>                                     0
<PER-SHARE-NAV-END>                                   2.11
<EXPENSE-RATIO>                                      16.59
<AVG-DEBT-OUTSTANDING>                           9,063,246
<AVG-DEBT-PER-SHARE>                                  1.80
                                              

        


</TABLE>