<TABLE> <S> <C>


<ARTICLE>                     6

       
<S>                             <C>
<PERIOD-TYPE>                   9-MOS
<FISCAL-YEAR-END>                          MAR-31-1998
<PERIOD-END>                               DEC-31-1997
<INVESTMENTS-AT-COST>                       19,885,524
<INVESTMENTS-AT-VALUE>                      19,050,095
<RECEIVABLES>                                        0
<ASSETS-OTHER>                                 508,665
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                              19,558,760
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                      9,273,293
<OTHER-ITEMS-LIABILITIES>                    1,288,904
<TOTAL-LIABILITIES>                         10,562,197
<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>                   (1,069,071)
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                              0
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                      (835,429)
<NET-ASSETS>                                 8,996,563
<DIVIDEND-INCOME>                                    0
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<OTHER-INCOME>                                 109,415
<EXPENSES-NET>                               1,349,749
<NET-INVESTMENT-INCOME>                       (448,103)
<REALIZED-GAINS-CURRENT>                       (64,877)
<APPREC-INCREASE-CURRENT>                   (1,100,479)
<NET-CHANGE-FROM-OPS>                       (1,613,459)
<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>                      (1,613,459)
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                            0
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                                0
<INTEREST-EXPENSE>                             618,662
<GROSS-EXPENSE>                              1,349,749
<AVERAGE-NET-ASSETS>                         9,953,130
<PER-SHARE-NAV-BEGIN>                             2.11
<PER-SHARE-NII>                                   (.32)
<PER-SHARE-GAIN-APPREC>                              0
<PER-SHARE-DIVIDEND>                                 0
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                               1.79
<EXPENSE-RATIO>                                  13.56
<AVG-DEBT-OUTSTANDING>                       9,557,979
<AVG-DEBT-PER-SHARE>                              1.90
        


</TABLE>