<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
REGISTRANT'S FIANANCIAL STATEMENTS AT OR FOR THE NINE MONTHS ENDED SEPTEMBER 30,
1997 AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATMENTS
ON FORM 10-Q
</LEGEND>
       
                             
<PERIOD-TYPE>                   9-MOS
<FISCAL-YEAR-END>                          DEC-31-1997
<PERIOD-START>                             JAN-01-1997
<PERIOD-END>                               JUN-30-1997
<INVESTMENTS-AT-COST>                      243,807,927
<INVESTMENTS-AT-VALUE>                     243,736,627
<RECEIVABLES>                                2,518,669
<ASSETS-OTHER>                               1,658,920
<OTHER-ITEMS-ASSETS>                        10,765,995
<TOTAL-ASSETS>                             258,680,211
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                  122,610,055
<TOTAL-LIABILITIES>                        122,610,055
<SENIOR-EQUITY>                                128,661
<PAID-IN-CAPITAL-COMMON>                   130,836,145
<SHARES-COMMON-STOCK>                       12,866,060
<SHARES-COMMON-PRIOR>                        8,250,000
<ACCUMULATED-NII-CURRENT>                    3,129,434
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                              0
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                        71,300
<NET-ASSETS>                               134,094,240
<DIVIDEND-INCOME>                                    0
<INTEREST-INCOME>                           16,142,054
<OTHER-INCOME>                               1,326,331
<EXPENSES-NET>                               3,410,315
<NET-INVESTMENT-INCOME>                      7,596,496
<REALIZED-GAINS-CURRENT>                       154,714
<APPREC-INCREASE-CURRENT>                       25,000
<NET-CHANGE-FROM-OPS>                        7,726,210
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                    4,642,000
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                      4,616,060
<NUMBER-OF-SHARES-REDEEMED>                          0
<SHARES-REINVESTED>                                  0
<NET-CHANGE-IN-ASSETS>                      69,055,711
<ACCUMULATED-NII-PRIOR>                        543,306
<ACCUMULATED-GAINS-PRIOR>                            0
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                          180,723
<INTEREST-EXPENSE>                           6,461,574
<GROSS-EXPENSE>                              9,871,889
<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>                              10.35
<EXPENSE-RATIO>                                      0
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0