<TABLE> <S> <C>

<ARTICLE> 6
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          DEC-31-1997
<PERIOD-START>                             JAN-01-1997
<PERIOD-END>                               JUN-30-1997
<INVESTMENTS-AT-COST>                       21,141,000
<INVESTMENTS-AT-VALUE>                      24,309,000
<RECEIVABLES>                                        0
<ASSETS-OTHER>                               1,186,000
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                              25,495,000
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                   11,621,000
<TOTAL-LIABILITIES>                         11,621,000
<SENIOR-EQUITY>                                146,000
<PAID-IN-CAPITAL-COMMON>                    15,030,000
<SHARES-COMMON-STOCK>                       14,616,687
<SHARES-COMMON-PRIOR>                       14,616,687
<ACCUMULATED-NII-CURRENT>                 (11,647,000)
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                     10,762,000
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                     (417,000)
<NET-ASSETS>                                13,874,000
<DIVIDEND-INCOME>                                    0
<INTEREST-INCOME>                               54,000
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                 492,000
<NET-INVESTMENT-INCOME>                    (1,045,000)
<REALIZED-GAINS-CURRENT>                     6,900,000
<APPREC-INCREASE-CURRENT>                  (6,135,000)
<NET-CHANGE-FROM-OPS>                        (513,000)
<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
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                                0
<INTEREST-EXPENSE>                             607,000
<GROSS-EXPENSE>                              1,099,000
<AVERAGE-NET-ASSETS>                        14,131,000
<PER-SHARE-NAV-BEGIN>                             1.16
<PER-SHARE-NII>                                 (0.07)
<PER-SHARE-GAIN-APPREC>                         (0.05)
<PER-SHARE-DIVIDEND>                                 0
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                               0.95
<EXPENSE-RATIO>                                      0
<AVG-DEBT-OUTSTANDING>                      13,909,000
<AVG-DEBT-PER-SHARE>                              0.73
        

</TABLE>