<ARTICLE>           5
<LEGEND>
                    The Schedule contains summary financial 
                    information extracted from the financial
                    statements for P-B Capital Return Futures
                    Fund 3, L.P. and is qualified in its entirety
                    by reference to such financial statements
</LEGEND>
<RESTATED>          
<CIK>               0000857850
<NAME>              P-B Capital Return Futures Fund 3, L.P.
<MULTIPLIER>        1
<FISCAL-YEAR-END>               Dec-31-1996

<PERIOD-START>                  Jan-1-1996

<PERIOD-END>                    Mar-31-1996

<PERIOD-TYPE>                   3-Mos

<CASH>                          5,056,200

<SECURITIES>                    15,740,867

<RECEIVABLES>                   0

<ALLOWANCES>                    0

<INVENTORY>                     0

<CURRENT-ASSETS>                20,797,067

<PP&E>                          0

<DEPRECIATION>                  0

<TOTAL-ASSETS>                  20,797,067

<CURRENT-LIABILITIES>           1,126,304

<BONDS>                         0

<PREFERRED-MANDATORY>           0

<PREFERRED>                     0

<COMMON>                        0

<OTHER-SE>                      19,670,763

<TOTAL-LIABILITY-AND-EQUITY>    20,797,067

<SALES>                         0

<TOTAL-REVENUES>                158,903

<CGS>                           0

<TOTAL-COSTS>                   0

<OTHER-EXPENSES>                772,091

<LOSS-PROVISION>                0

<INTEREST-EXPENSE>              0

<INCOME-PRETAX>                 0

<INCOME-TAX>                    0

<INCOME-CONTINUING>             0

<DISCONTINUED>                  0

<EXTRAORDINARY>                 0

<CHANGES>                       0

<NET-INCOME>                    (563,188)

<EPS-PRIMARY>                   (4.16)

<EPS-DILUTED>                   0