<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