<ARTICLE> BD
<CURRENCY> U.S. DOLLAR
       
                                                  
<PERIOD-TYPE>                   6-MOS                   6-MOS
<FISCAL-YEAR-END>                          JUL-31-1998             JUL-31-1997
<PERIOD-START>                             JUL-31-1998             JUL-31-1997
<PERIOD-END>                               JAN-31-1999             JAN-31-1998
<EXCHANGE-RATE>                                      1                       1
<CASH>                                       2,699,645               2,591,526
<RECEIVABLES>                                  448,091                (27,581)
<SECURITIES-RESALE>                                  0                       0
<SECURITIES-BORROWED>                                0                       0
<INSTRUMENTS-OWNED>                         13,624,987              13,361,199
<PP&E>                                               0                       0
<TOTAL-ASSETS>                              16,772,722              15,925,144
<SHORT-TERM>                                         0                       0
<PAYABLES>                                     329,902                 237,150
<REPOS-SOLD>                                         0                       0
<SECURITIES-LOANED>                                  0                       0
<INSTRUMENTS-SOLD>                                   0                       0
<LONG-TERM>                                          0                       0
<PREFERRED-MANDATORY>                       16,442,820              15,687,994
<PREFERRED>                                          0                       0
<COMMON>                                             0                       0
<OTHER-SE>                                           0                       0
<TOTAL-LIABILITY-AND-EQUITY>                16,772,722              15,925,144
<TRADING-REVENUE>                              464,624                 455,850
<INTEREST-DIVIDENDS>                           103,451                 356,204
<COMMISSIONS>                                (160,488)               (163,421)
<INVESTMENT-BANKING-REVENUES>                        0                       0
<FEE-REVENUE>                                        0                       0
<INTEREST-EXPENSE>                                   0                       0
<COMPENSATION>                                (60,927)                (43,485)
<INCOME-PRETAX>                                346,660                 605,147
<INCOME-PRE-EXTRAORDINARY>                           0                       0
<EXTRAORDINARY>                                      0                       0
<CHANGES>                                            0                       0
<NET-INCOME>                                   346,660                 605,147
<EPS-PRIMARY>                                        0                       0
<EPS-DILUTED>                                        0                       0