<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM FECHTOR,
DETWILER, MITCHELL & CO. AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH
FINANCIAL STATEMENTS.
</LEGEND>

                             
<PERIOD-TYPE>                   9-MOS
<FISCAL-YEAR-END>                          DEC-31-1999
<PERIOD-START>                             JAN-01-1999
<PERIOD-END>                               SEP-30-1999
<INVESTMENTS-AT-COST>                        1,063,500
<INVESTMENTS-AT-VALUE>                       1,271,869
<RECEIVABLES>                               11,601,496
<ASSETS-OTHER>                               6,516,852
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                              20,453,717
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                   12,078,110
<TOTAL-LIABILITIES>                         12,078,110
<SENIOR-EQUITY>                                129,165
<PAID-IN-CAPITAL-COMMON>                     6,682,500
<SHARES-COMMON-STOCK>                       12,916,451
<SHARES-COMMON-PRIOR>                                0
<ACCUMULATED-NII-CURRENT>                    (879,352)
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                              0
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                             0
<NET-ASSETS>                                 8,375,607
<DIVIDEND-INCOME>                                    0
<INTEREST-INCOME>                              641,921
<OTHER-INCOME>                                 242,819
<EXPENSES-NET>                              11,523,559
<NET-INVESTMENT-INCOME>                              0
<REALIZED-GAINS-CURRENT>                             0
<APPREC-INCREASE-CURRENT>                            0
<NET-CHANGE-FROM-OPS>                                0
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                            0
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                              0
<NUMBER-OF-SHARES-REDEEMED>                          0
<SHARES-REINVESTED>                                  0
<NET-CHANGE-IN-ASSETS>                       9,906,897
<ACCUMULATED-NII-PRIOR>                      2,164,767
<ACCUMULATED-GAINS-PRIOR>                            0
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                                0
<INTEREST-EXPENSE>                             295,027
<GROSS-EXPENSE>                             11,523,559
<AVERAGE-NET-ASSETS>                         5,270,187
<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>                              $0.65
<EXPENSE-RATIO>                                      0