<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-31-1997

<PERIOD-START>                  Jan-1-1997

<PERIOD-END>                    Mar-31-1997

<PERIOD-TYPE>                   3-MOS

<CASH>                          19,594,360

<SECURITIES>                    1,839,454

<RECEIVABLES>                   0

<ALLOWANCES>                    0

<INVENTORY>                     0

<CURRENT-ASSETS>                21,433,814

<PP&E>                          0

<DEPRECIATION>                  0

<TOTAL-ASSETS>                  21,433,814

<CURRENT-LIABILITIES>           815,752

<BONDS>                         0

<PREFERRED-MANDATORY>           0

<PREFERRED>                     0

<COMMON>                        0

<OTHER-SE>                      20,618,062

<TOTAL-LIABILITY-AND-EQUITY>    21,433,814

<SALES>                         0

<TOTAL-REVENUES>                659,396

<CGS>                           0

<TOTAL-COSTS>                   0

<OTHER-EXPENSES>                877,343

<LOSS-PROVISION>                0

<INTEREST-EXPENSE>              0

<INCOME-PRETAX>                 0

<INCOME-TAX>                    0

<INCOME-CONTINUING>             0

<DISCONTINUED>                  0

<EXTRAORDINARY>                 0

<CHANGES>                       0

<NET-INCOME>                    (217,947)

<EPS-PRIMARY>                   (1.88)

<EPS-DILUTED>                   0