<TABLE> <S> <C>


<ARTICLE>                   6
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                              MAR-31-1997
<PERIOD-END>                                   SEP-30-1996
<INVESTMENTS-AT-COST>                           20,080,633
<INVESTMENTS-AT-VALUE>                          19,763,684
<RECEIVABLES>                                            0
<ASSETS-OTHER>                                     449,290
<OTHER-ITEMS-ASSETS>                                     0
<TOTAL-ASSETS>                                  20,212,974
<PAYABLE-FOR-SECURITIES>                                 0
<SENIOR-LONG-TERM-DEBT>                          9,822,246
<OTHER-ITEMS-LIABILITIES>                          223,982
<TOTAL-LIABILITIES>                             10,046,228
<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>                         (417,368)
<OVERDISTRIBUTION-NII>                                   0
<ACCUMULATED-NET-GAINS>                                  0
<OVERDISTRIBUTION-GAINS>                                 0
<ACCUM-APPREC-OR-DEPREC>                          (316,949)
<NET-ASSETS>                                    10,166,746
<DIVIDEND-INCOME>                                        0
<INTEREST-INCOME>                                  537,431
<OTHER-INCOME>                                     159,428
<EXPENSES-NET>                                     795,329
<NET-INVESTMENT-INCOME>                            (98,470)
<REALIZED-GAINS-CURRENT>                                 0
<APPREC-INCREASE-CURRENT>                             (253)
<NET-CHANGE-FROM-OPS>                              (98,723)
<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>                             (98,723)
<ACCUMULATED-NII-PRIOR>                                  0
<ACCUMULATED-GAINS-PRIOR>                                0
<OVERDISTRIB-NII-PRIOR>                                  0
<OVERDIST-NET-GAINS-PRIOR>                               0
<GROSS-ADVISORY-FEES>                                    0
<INTEREST-EXPENSE>                                 354,638
<GROSS-EXPENSE>                                    795,329
<AVERAGE-NET-ASSETS>                            10,216,108
<PER-SHARE-NAV-BEGIN>                                 2.04
<PER-SHARE-NII>                                       (.02)
<PER-SHARE-GAIN-APPREC>                                  0
<PER-SHARE-DIVIDEND>                                     0
<PER-SHARE-DISTRIBUTIONS>                                0
<RETURNS-OF-CAPITAL>                                     0
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<EXPENSE-RATIO>                                       7.78
<AVG-DEBT-OUTSTANDING>                           8,466,065
<AVG-DEBT-PER-SHARE>                                  1.69
        


</TABLE>