<ARTICLE>                       5
<LEGEND>
The Schedule contains summary financial information extracted
from the financial statements for American Tax-Exempt Bond
Trust and is qualified in its entirety by reference to such financial
statements
</LEGEND>
<CIK>                           0000916824
<NAME>  American Tax-Exempt Bond Trust
<MULTIPLIER>                    1

                             
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>               DEC-31-1999
<PERIOD-START>                  JAN-01-1999
<PERIOD-END>                    JUN-30-1999
<CASH>                          761,430
<SECURITIES>                    26,607,953
<RECEIVABLES>                   177,807
<ALLOWANCES>                    0
<INVENTORY>                     0
<CURRENT-ASSETS>                0
<PP&E>                          0
<DEPRECIATION>                  0
<TOTAL-ASSETS>                  27,547,190
<CURRENT-LIABILITIES>           780,098
<BONDS>                         0
<PREFERRED-MANDATORY>           0
<PREFERRED>                     0
<COMMON>                        0
<OTHER-SE>                      26,767,092
<TOTAL-LIABILITY-AND-EQUITY>    27,547,190
<SALES>                         0
<TOTAL-REVENUES>                1,060,393
<CGS>                           0
<TOTAL-COSTS>                   0
<OTHER-EXPENSES>                128,664
<LOSS-PROVISION>                0
<INTEREST-EXPENSE>              0
<INCOME-PRETAX>                 931,729
<INCOME-TAX>                    0
<INCOME-CONTINUING>             0
<DISCONTINUED>                  0
<EXTRAORDINARY>                 0
<CHANGES>                       0
<NET-INCOME>                    931,729
<EPS-BASIC>                   .59
<EPS-DILUTED>                   0