<TABLE> <S> <C>

<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE BALANCE
SHEETS FOUND ON PAGES F-5 AND F-6 AND STATEMENT OF OPERATIONS FOUND ON PAGE F-13
OF THE COMPANY'S FORM 10-K FOR THE YEAR ENDED DECEMBER 31, 1996 AND IS QUALIFIED
IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<MULTIPLIER> 1
       
<S>                             <C>
<PERIOD-TYPE>                   YEAR
<FISCAL-YEAR-END>                          DEC-31-1996
<PERIOD-END>                               DEC-31-1996
<INVESTMENTS-AT-COST>                        1,999,819
<INVESTMENTS-AT-VALUE>                       1,979,497
<RECEIVABLES>                                  210,861
<ASSETS-OTHER>                                  15,809
<OTHER-ITEMS-ASSETS>                         1,263,925
<TOTAL-ASSETS>                               3,470,092
<PAYABLE-FOR-SECURITIES>                       293,600
<SENIOR-LONG-TERM-DEBT>                        315,349
<OTHER-ITEMS-LIABILITIES>                      530,411
<TOTAL-LIABILITIES>                          1,139,360
<SENIOR-EQUITY>                              2,330,732
<PAID-IN-CAPITAL-COMMON>                     2,901,243
<SHARES-COMMON-STOCK>                          640,256
<SHARES-COMMON-PRIOR>                          640,256
<ACCUMULATED-NII-CURRENT>                  (1,893,303)
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                      1,336,711
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                      (20,322)
<NET-ASSETS>                                 2,330,732
<DIVIDEND-INCOME>                                   19
<INTEREST-INCOME>                               30,229
<OTHER-INCOME>                                   5,809
<EXPENSES-NET>                                 635,180
<NET-INVESTMENT-INCOME>                      (428,689)
<REALIZED-GAINS-CURRENT>                     1,549,196
<APPREC-INCREASE-CURRENT>                     (97,339)
<NET-CHANGE-FROM-OPS>                        1,023,168
<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>                       1,283,305
<ACCUMULATED-NII-PRIOR>                    (1,464,614)
<ACCUMULATED-GAINS-PRIOR>                    (212,485)
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                                0
<INTEREST-EXPENSE>                              57,519
<GROSS-EXPENSE>                                635,180
<AVERAGE-NET-ASSETS>                         1,819,148
<PER-SHARE-NAV-BEGIN>                             2.04
<PER-SHARE-NII>                                  (.67)
<PER-SHARE-GAIN-APPREC>                           2.27
<PER-SHARE-DIVIDEND>                                 0
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                               3.64
<EXPENSE-RATIO>                                    .41
<AVG-DEBT-OUTSTANDING>                       1,009,292
<AVG-DEBT-PER-SHARE>                              1.57
        

</TABLE>