<ARTICLE> BD
       
                                                  
<PERIOD-TYPE>                   9-MOS                   9-MOS
<FISCAL-YEAR-END>                          DEC-31-1998             DEC-31-1997
<PERIOD-START>                             JAN-01-1998             JAN-01-1997
<PERIOD-END>                               SEP-30-1998             SEP-30-1997
<CASH>                                             855                   1,294
<RECEIVABLES>                               25,181,623               7,211,808
<SECURITIES-RESALE>                                  0                       0
<SECURITIES-BORROWED>                                0                       0
<INSTRUMENTS-OWNED>                         73,149,685              84,091,473
<PP&E>                                               0                       0
<TOTAL-ASSETS>                              98,332,163              91,304,575
<SHORT-TERM>                                         0                       0
<PAYABLES>                                   4,955,483               2,928,142
<REPOS-SOLD>                                         0                       0
<SECURITIES-LOANED>                                  0                       0
<INSTRUMENTS-SOLD>                                   0                       0
<LONG-TERM>                                          0                       0
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<PREFERRED>                                          0                       0
<COMMON>                                             0                       0
<OTHER-SE>                                  93,376,680              88,376,433
<TOTAL-LIABILITY-AND-EQUITY>                98,332,163              91,304,575
<TRADING-REVENUE>                            6,887,077               3,321,629
<INTEREST-DIVIDENDS>                         4,299,498               3,473,238
<COMMISSIONS>                                6,496,149               4,079,476
<INVESTMENT-BANKING-REVENUES>                        0                       0
<FEE-REVENUE>                                        0                       0
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<COMPENSATION>                                       0                       0
<INCOME-PRETAX>                              4,690,426               2,715,391
<INCOME-PRE-EXTRAORDINARY>                   4,690,426               2,715,391
<EXTRAORDINARY>                                      0                       0
<CHANGES>                                            0                       0
<NET-INCOME>                                 4,690,426               2,715,391
<EPS-PRIMARY>                                     4.79                    3.52
<EPS-DILUTED>                                     4.79                    3.52