<ARTICLE> BD <PERIOD-TYPE> 6-MOS 6-MOS <FISCAL-YEAR-END> DEC-31-1999 DEC-31-1998 <PERIOD-START> JAN-01-1999 JAN-01-1998 <PERIOD-END> JUN-30-1999 JUN-30-1998 <CASH> 0 0 <RECEIVABLES> 57,130,003 56,423,017 <SECURITIES-RESALE> 0 0 <SECURITIES-BORROWED> 0 0 <INSTRUMENTS-OWNED> 0 0 <PP&E> 0 0 <TOTAL-ASSETS> 57,130,003 56,423,017 <SHORT-TERM> 0 0 <PAYABLES> 265,750 259,704 <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> 56,864,253 56,163,313 <TOTAL-LIABILITY-AND-EQUITY> 57,130,003 56,423,017 <TRADING-REVENUE> 0 0 <INTEREST-DIVIDENDS> 0 0 <COMMISSIONS> 0 0 <INVESTMENT-BANKING-REVENUES> 4,139,449 (7,484,700) <FEE-REVENUE> 0 0 <INTEREST-EXPENSE> 0 0 <COMPENSATION> 0 0 <INCOME-PRETAX> 4,139,449 (7,484,700) <INCOME-PRE-EXTRAORDINARY> 0 0 <EXTRAORDINARY> 0 0 <CHANGES> 0 0 <NET-INCOME> 4,139,449 (7,484,700) <EPS-BASIC> 17.74 (27.12) <EPS-DILUTED> 17.74 (27.12)