<ARTICLE> 5
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM BALANCE
SHEET AS OF DECEMBER 31, 1995 AND STATEMENT OF OPERATIONS FOR THE SIX MONTHS
ENDED DECEMBER 31, 1995 AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH
FINANCIAL STATEMENTS.
</LEGEND>
       
                             
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          JUN-30-1996
<PERIOD-START>                             JUL-01-1995
<PERIOD-END>                               DEC-31-1995
<CASH>                                           3,561
<SECURITIES>                                 6,857,180
<RECEIVABLES>                                   53,891
<ALLOWANCES>                                         0
<INVENTORY>                                          0
<CURRENT-ASSETS>                                     0
<PP&E>                                               0
<DEPRECIATION>                                       0
<TOTAL-ASSETS>                               7,159,569
<CURRENT-LIABILITIES>                                0
<BONDS>                                      6,856,763
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<COMMON>                                           100
<OTHER-SE>                                     265,831
<TOTAL-LIABILITY-AND-EQUITY>                 7,159,569
<SALES>                                              0
<TOTAL-REVENUES>                               333,050
<CGS>                                                0
<TOTAL-COSTS>                                        0
<OTHER-EXPENSES>                                 9,412
<LOSS-PROVISION>                                     0
<INTEREST-EXPENSE>                             322,859
<INCOME-PRETAX>                                    779
<INCOME-TAX>                                       300
<INCOME-CONTINUING>                                  0
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                       479
<EPS-PRIMARY>                                      .48
<EPS-DILUTED>                                        0