<TABLE> <S> <C>

<ARTICLE> 6
       
<S>                             <C>
<PERIOD-TYPE>                   3-MOS
<FISCAL-YEAR-END>                          DEC-31-1997
<PERIOD-START>                             OCT-01-1997
<PERIOD-END>                               MAR-31-1997
<INVESTMENTS-AT-COST>                       23,862,000
<INVESTMENTS-AT-VALUE>                      23,811,000
<RECEIVABLES>                                        0
<ASSETS-OTHER>                               4,806,000
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                              28,617,000
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                   15,265,000
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<SENIOR-EQUITY>                                146,000
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<SHARES-COMMON-STOCK>                       14,616,687
<SHARES-COMMON-PRIOR>                       14,616,687
<ACCUMULATED-NII-CURRENT>                 (11,364,000)
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                     10,107,000
<OVERDISTRIBUTION-GAINS>                             0
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<DIVIDEND-INCOME>                                    0
<INTEREST-INCOME>                               40,000
<OTHER-INCOME>                                       0
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<NET-INVESTMENT-INCOME>                      (574,000)
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<APPREC-INCREASE-CURRENT>                  (6,918,000)
<NET-CHANGE-FROM-OPS>                      (1,035,000)
<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>                               0
<ACCUMULATED-NII-PRIOR>                   (11,020,000)
<ACCUMULATED-GAINS-PRIOR>                    6,622,000
<OVERDISTRIB-NII-PRIOR>                              0
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<PER-SHARE-NAV-BEGIN>                             1.16
<PER-SHARE-NII>                                 (0.04)
<PER-SHARE-GAIN-APPREC>                         (0.08)
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<EXPENSE-RATIO>                                      0
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<AVG-DEBT-PER-SHARE>                              0.99
        

</TABLE>