<ARTICLE> BD
       
                                                  
<PERIOD-TYPE>                   6-MOS                   6-MOS
<FISCAL-YEAR-END>                          DEC-31-1996             DEC-31-1995
<PERIOD-START>                             JAN-01-1997             JAN-01-1996
<PERIOD-END>                               JUN-30-1997             JUN-30-1996
<CASH>                                               0                       0
<RECEIVABLES>                               25,102,108              25,367,894
<SECURITIES-RESALE>                                  0                       0
<SECURITIES-BORROWED>                                0                       0
<INSTRUMENTS-OWNED>                                  0                       0
<PP&E>                                               0                       0
<TOTAL-ASSETS>                              25,102,108              25,367,894
<SHORT-TERM>                                         0                       0
<PAYABLES>                                     411,572                 560,759
<REPOS-SOLD>                                         0                       0
<SECURITIES-LOANED>                                  0                       0
<INSTRUMENTS-SOLD>                                   0                       0
<LONG-TERM>                                          0                       0
<PREFERRED-MANDATORY>                                0                       0
<PREFERRED>                                          0                       0
<COMMON>                                             0                       0
<OTHER-SE>                                  24,690,536              24,807,135
<TOTAL-LIABILITY-AND-EQUITY>                25,102,108              25,367,894
<TRADING-REVENUE>                              665,417               (533,759)
<INTEREST-DIVIDENDS>                           271,508                 602,841
<COMMISSIONS>                                  631,798               1,409,483
<INVESTMENT-BANKING-REVENUES>                  540,386                       0
<FEE-REVENUE>                                        0                       0
<INTEREST-EXPENSE>                                   0                       0
<COMPENSATION>                                       0                       0
<INCOME-PRETAX>                                845,513             (1,340,401)
<INCOME-PRE-EXTRAORDINARY>                     845,513             (1,340,401)
<EXTRAORDINARY>                                      0                       0
<CHANGES>                                            0                       0
<NET-INCOME>                                   845,513             (1,340,401)
<EPS-PRIMARY>                                     7.03                  (9.59)
<EPS-DILUTED>                                     7.03                  (9.59)