<ARTICLE> 6
<RESTATED> 
       
                                                  
<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
<INVESTMENTS-AT-COST>                      397,073,916             381,099,055
<INVESTMENTS-AT-VALUE>                     400,644,126             384,063,972
<RECEIVABLES>                               16,607,689              15,500,593
<ASSETS-OTHER>                               2,487,257               3,229,568
<OTHER-ITEMS-ASSETS>                        21,030,056              19,431,109
<TOTAL-ASSETS>                             435,486,127             422,225,242
<PAYABLE-FOR-SECURITIES>                             0                       0
<SENIOR-LONG-TERM-DEBT>                     41,590,000              41,590,000
<OTHER-ITEMS-LIABILITIES>                  241,198,360             232,420,712
<TOTAL-LIABILITIES>                        282,788,360             274,010,712
<SENIOR-EQUITY>                                140,138                 140,138
<PAID-IN-CAPITAL-COMMON>                   141,376,068             141,376,068
<SHARES-COMMON-STOCK>                       14,013,768              14,013,768
<SHARES-COMMON-PRIOR>                       14,013,768              13,908,916
<ACCUMULATED-NII-CURRENT>                   11,181,651               6,698,324
<OVERDISTRIBUTION-NII>                               0                       0
<ACCUMULATED-NET-GAINS>                              0                       0
<OVERDISTRIBUTION-GAINS>                             0                       0
<ACCUM-APPREC-OR-DEPREC>                             0                       0
<NET-ASSETS>                               152,697,767             148,214,530
<DIVIDEND-INCOME>                                    0                       0
<INTEREST-INCOME>                            9,379,876              35,156,636
<OTHER-INCOME>                               1,682,922               5,697,836
<EXPENSES-NET>                               3,699,737              13,683,939
<NET-INVESTMENT-INCOME>                      3,124,578              11,715,047
<REALIZED-GAINS-CURRENT>                       804,822               1,290,743
<APPREC-INCREASE-CURRENT>                      605,293               2,675,923
<NET-CHANGE-FROM-OPS>                        4,483,237              15,681,713
<EQUALIZATION>                                       0                       0
<DISTRIBUTIONS-OF-INCOME>                            0              16,772,240
<DISTRIBUTIONS-OF-GAINS>                             0                       0
<DISTRIBUTIONS-OTHER>                                0                       0
<NUMBER-OF-SHARES-SOLD>                              0                       0
<NUMBER-OF-SHARES-REDEEMED>                          0                       0
<SHARES-REINVESTED>                                  0                       0
<NET-CHANGE-IN-ASSETS>                               0                       0
<ACCUMULATED-NII-PRIOR>                      6,698,324               5,530,771
<ACCUMULATED-GAINS-PRIOR>                            0                       0
<OVERDISTRIB-NII-PRIOR>                              0                       0
<OVERDIST-NET-GAINS-PRIOR>                           0                       0
<GROSS-ADVISORY-FEES>                           61,760                 225,000
<INTEREST-EXPENSE>                           4,238,483              15,609,024
<GROSS-EXPENSE>                              7,938,220              29,292,963
<AVERAGE-NET-ASSETS>                                 0                       0
<PER-SHARE-NAV-BEGIN>                            10.84                   10.48
<PER-SHARE-NII>                                      0                       0
<PER-SHARE-GAIN-APPREC>                              0                       0
<PER-SHARE-DIVIDEND>                                 0                       0
<PER-SHARE-DISTRIBUTIONS>                            0                       0
<RETURNS-OF-CAPITAL>                                 0                       0
<PER-SHARE-NAV-END>                                  0                       0
<EXPENSE-RATIO>                                      0                       0
<AVG-DEBT-OUTSTANDING>                               0                       0
<AVG-DEBT-PER-SHARE>                                 0                       0