<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
REGISTRANT'S FINANCIAL STATEMENTS AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE
TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
       
                             
<PERIOD-TYPE>                   3-MOS
<FISCAL-YEAR-END>                          DEC-31-1997
<PERIOD-START>                             JAN-01-1997
<PERIOD-END>                               MAR-31-1997
<INVESTMENTS-AT-COST>                      185,253,819
<INVESTMENTS-AT-VALUE>                     185,207,519
<RECEIVABLES>                                1,801,377
<ASSETS-OTHER>                               3,970,990
<OTHER-ITEMS-ASSETS>                         8,854,934
<TOTAL-ASSETS>                             199,834,820
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                  139,211,089
<TOTAL-LIABILITIES>                        139,211,089
<SENIOR-EQUITY>                                 82,500
<PAID-IN-CAPITAL-COMMON>                    56,359,555
<SHARES-COMMON-STOCK>                        8,250,000
<SHARES-COMMON-PRIOR>                        2,500,000
<ACCUMULATED-NII-CURRENT>                    1,844,560
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                              0
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                        46,300
<NET-ASSETS>                                58,286,615
<DIVIDEND-INCOME>                                    0
<INTEREST-INCOME>                            4,885,264
<OTHER-INCOME>                                 441,363
<EXPENSES-NET>                               1,130,339
<NET-INVESTMENT-INCOME>                      1,767,636
<REALIZED-GAINS-CURRENT>                        31,700
<APPREC-INCREASE-CURRENT>                            0
<NET-CHANGE-FROM-OPS>                        1,799,336
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                    1,732,500
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                              0
<NUMBER-OF-SHARES-REDEEMED>                          0
<SHARES-REINVESTED>                                  0
<NET-CHANGE-IN-ASSETS>                       1,799,336
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                            0
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                           56,250
<INTEREST-EXPENSE>                           2,428,652
<GROSS-EXPENSE>                              3,558,991
<AVERAGE-NET-ASSETS>                                 0
<PER-SHARE-NAV-BEGIN>                                0
<PER-SHARE-NII>                                      0
<PER-SHARE-GAIN-APPREC>                              0
<PER-SHARE-DIVIDEND>                                 0
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                                  0
<EXPENSE-RATIO>                                      0
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0