<ARTICLE> 5
<LEGEND>
"This schedule contains summary financial information extracted from Banyan
Short Term Income Trust's Form 10-QSB for the period ended June 30, 1996 and
is qualified in its entirety by reference to such 10-QSB."
</LEGEND>
       
                             
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          DEC-31-1996
<PERIOD-END>                               JUN-30-1996
<CASH>                                       2,891,489
<SECURITIES>                                   640,888
<RECEIVABLES>                                   55,657
<ALLOWANCES>                                         0
<INVENTORY>                                          0
<CURRENT-ASSETS>                             3,588,034
<PP&E>                                               0
<DEPRECIATION>                                       0
<TOTAL-ASSETS>                               4,169,150
<CURRENT-LIABILITIES>                          676,347
<BONDS>                                              0
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<COMMON>                                     3,774,166
<OTHER-SE>                                   (281,363)
<TOTAL-LIABILITY-AND-EQUITY>                 4,169,150
<SALES>                                              0
<TOTAL-REVENUES>                                63,149
<CGS>                                                0
<TOTAL-COSTS>                                        0
<OTHER-EXPENSES>                               377,161
<LOSS-PROVISION>                                     0
<INTEREST-EXPENSE>                                   0
<INCOME-PRETAX>                                765,743
<INCOME-TAX>                                         0
<INCOME-CONTINUING>                            765,743
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                   765,743
<EPS-PRIMARY>                                     0.11
<EPS-DILUTED>                                     0.11