<ARTICLE> 5
<LEGEND>
This schedule contains summary financial information extracted from Combined
Statements of Financial Condition, Combined Statements of Operations, Combined
Statements of Changes in Partners - Capital and Combined Statements of Cash
Flows, and is qualified in its entirety by reference to such financial
statements.
</LEGEND>
       
                             
<PERIOD-TYPE>                   YEAR
<FISCAL-YEAR-END>                          DEC-31-1996
<PERIOD-START>                             JAN-01-1996
<PERIOD-END>                               DEC-31-1996
<CASH>                                             693
<SECURITIES>                                 4,816,886
<RECEIVABLES>                                  749,250
<ALLOWANCES>                                         0
<INVENTORY>                                          0
<CURRENT-ASSETS>                             5,566,829
<PP&E>                                               0
<DEPRECIATION>                                       0
<TOTAL-ASSETS>                               5,566,829
<CURRENT-LIABILITIES>                          655,999
<BONDS>                                              0
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<COMMON>                                             0
<OTHER-SE>                                   4,910,830
<TOTAL-LIABILITY-AND-EQUITY>                 5,566,829
<SALES>                                              0
<TOTAL-REVENUES>                               227,701
<CGS>                                                0
<TOTAL-COSTS>                                  311,944
<OTHER-EXPENSES>                                     0
<LOSS-PROVISION>                                     0
<INTEREST-EXPENSE>                                   0
<INCOME-PRETAX>                               (77,251)
<INCOME-TAX>                                         0
<INCOME-CONTINUING>                                  0
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                  (77,251)
<EPS-PRIMARY>                                    (.03)
<EPS-DILUTED>                                    (.03)