<ARTICLE> 6 <PERIOD-TYPE> 3-MOS 3-MOS <FISCAL-YEAR-END> DEC-31-1999 DEC-31-1998 <PERIOD-START> APR-01-1999 APR-01-1998 <PERIOD-END> JUN-30-1999 JUN-30-1998 <INVESTMENTS-AT-COST> 0 0 <INVESTMENTS-AT-VALUE> 429,638,234 384,063,972 <RECEIVABLES> 12,236,272 15,500,593 <ASSETS-OTHER> 2,901,407 3,229,568 <OTHER-ITEMS-ASSETS> 20,531,704 19,431,109 <TOTAL-ASSETS> 465,307,617 422,225,242 <PAYABLE-FOR-SECURITIES> 0 0 <SENIOR-LONG-TERM-DEBT> 52,310,000 41,590,000 <OTHER-ITEMS-LIABILITIES> 259,084,031 232,420,712 <TOTAL-LIABILITIES> 311,394,031 274,010,712 <SENIOR-EQUITY> 140,191 140,138 <PAID-IN-CAPITAL-COMMON> 141,412,014 141,376,068 <SHARES-COMMON-STOCK> 14,019,133 14,013,768 <SHARES-COMMON-PRIOR> 14,013,768 13,908,916 <ACCUMULATED-NII-CURRENT> 12,361,381 6,698,324 <OVERDISTRIBUTION-NII> 0 0 <ACCUMULATED-NET-GAINS> 0 0 <OVERDISTRIBUTION-GAINS> 0 0 <ACCUM-APPREC-OR-DEPREC> 0 0 <NET-ASSETS> 153,913,586 148,214,530 <DIVIDEND-INCOME> 0 0 <INTEREST-INCOME> 10,834,867 8,884,496 <OTHER-INCOME> 1,515,330 1,138,670 <EXPENSES-NET> 9,038,897 8,109,270 <NET-INVESTMENT-INCOME> 3,300,443 1,856,230 <REALIZED-GAINS-CURRENT> (168,988) 1,003,339 <APPREC-INCREASE-CURRENT> 1,985,691 50,000 <NET-CHANGE-FROM-OPS> 5,106,289 2,967,235 <EQUALIZATION> 0 0 <DISTRIBUTIONS-OF-INCOME> 0 0 <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> 0 0 <INTEREST-EXPENSE> 4,562,823 3,875,831 <GROSS-EXPENSE> 9,038,897 8,109,270 <AVERAGE-NET-ASSETS> 0 0 <PER-SHARE-NAV-BEGIN> 10.92 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