<TABLE> <S> <C>

<ARTICLE> 6
       
<S>                             <C>
<PERIOD-TYPE>                   YEAR
<FISCAL-YEAR-END>                          DEC-31-1998
<PERIOD-START>                             DEC-31-1997
<PERIOD-END>                               DEC-31-1998
<INVESTMENTS-AT-COST>                      605,770,590
<INVESTMENTS-AT-VALUE>                     561,216,431
<RECEIVABLES>                               11,097,238
<ASSETS-OTHER>                               9,460,165
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                             581,773,834
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                    250,023,000
<OTHER-ITEMS-LIABILITIES>                    6,751,598
<TOTAL-LIABILITIES>                        256,774,598
<SENIOR-EQUITY>                            380,945,286
<PAID-IN-CAPITAL-COMMON>                             0
<SHARES-COMMON-STOCK>                       37,229,196
<SHARES-COMMON-PRIOR>                       37,229,196
<ACCUMULATED-NII-CURRENT>                   58,979,370
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                    (58,228,847)
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                   (44,554,159)
<NET-ASSETS>                               324,999,236
<DIVIDEND-INCOME>                                    0
<INTEREST-INCOME>                           63,478,448
<OTHER-INCOME>                               7,234,064
<EXPENSES-NET>                              33,138,350
<NET-INVESTMENT-INCOME>                     41,405,355
<REALIZED-GAINS-CURRENT>                   (61,433,584)
<APPREC-INCREASE-CURRENT>                  (55,335,835)
<NET-CHANGE-FROM-OPS>                      (76,496,541)
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                    7,523,406
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                              0
<NUMBER-OF-SHARES-REDEEMED>                          0
<SHARES-REINVESTED>                                  0
<NET-CHANGE-IN-ASSETS>                      72,537,435
<ACCUMULATED-NII-PRIOR>                     17,574,015
<ACCUMULATED-GAINS-PRIOR>                    3,204,737
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                                0
<INTEREST-EXPENSE>                          17,295,236
<GROSS-EXPENSE>                             33,138,350
<AVERAGE-NET-ASSETS>                       303,484,074
<PER-SHARE-NAV-BEGIN>                             9.07
<PER-SHARE-NII>                                    .91
<PER-SHARE-GAIN-APPREC>                          (3.14)
<PER-SHARE-DIVIDEND>                              1.49
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                               8.73
<EXPENSE-RATIO>                                      0
<AVG-DEBT-OUTSTANDING>                     232,136,500
<AVG-DEBT-PER-SHARE>                              6.24
        

</TABLE>