<ARTICLE> BD
       
                                                  
<PERIOD-TYPE>                   3-MOS                   3-MOS
<FISCAL-YEAR-END>                          DEC-31-1999             DEC-31-1998
<PERIOD-START>                             JAN-01-1999             JAN-01-1998
<PERIOD-END>                               MAR-31-1999             MAR-31-1998
<CASH>                                               0                       0
<RECEIVABLES>                               20,380,336              24,504,346
<SECURITIES-RESALE>                                  0                       0
<SECURITIES-BORROWED>                                0                       0
<INSTRUMENTS-OWNED>                                  0                       0
<PP&E>                                               0                       0
<TOTAL-ASSETS>                              20,380,336              24,504,346
<SHORT-TERM>                                         0                       0
<PAYABLES>                                     341,164                 354,047
<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>                                  20,039,172              24,150,297
<TOTAL-LIABILITY-AND-EQUITY>                20,380,336              24,504,346
<TRADING-REVENUE>                            (111,985)                 159,325
<INTEREST-DIVIDENDS>                                 0                 128,173
<COMMISSIONS>                                        0                 229,650
<INVESTMENT-BANKING-REVENUES>                        0                 697,815
<FEE-REVENUE>                                        0                       0
<INTEREST-EXPENSE>                                   0                       0
<COMPENSATION>                                       0                       0
<INCOME-PRETAX>                              (111,985)                 755,663
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<EXTRAORDINARY>                                      0                       0
<CHANGES>                                            0                       0
<NET-INCOME>                                 (111,985)                 755,663
<EPS-PRIMARY>                                   (1.30)                    7.09
<EPS-DILUTED>                                   (1.30)                    7.09