<ARTICLE> 6 <LEGEND> THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FORM 9/30/99 FORM 10Q AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS. </LEGEND> <PERIOD-TYPE> 3-MOS 3-MOS <FISCAL-YEAR-END> DEC-31-1999 DEC-31-1998 <PERIOD-START> JUL-01-1999 JUL-01-1998 <PERIOD-END> SEP-30-1999 SEP-30-1998 <INVESTMENTS-AT-COST> 0 0 <INVESTMENTS-AT-VALUE> 452,709,917 384,063,972 <RECEIVABLES> 14,811,005 15,500,593 <ASSETS-OTHER> 3,090,000 3,229,568 <OTHER-ITEMS-ASSETS> 15,950,839 19,431,109 <TOTAL-ASSETS> 486,561,761 422,225,242 <PAYABLE-FOR-SECURITIES> 0 0 <SENIOR-LONG-TERM-DEBT> 55,500,000 41,590,000 <OTHER-ITEMS-LIABILITIES> 275,566,814 232,420,712 <TOTAL-LIABILITIES> 331,066,814 274,010,712 <SENIOR-EQUITY> 140,201 140,138 <PAID-IN-CAPITAL-COMMON> 141,426,067 141,376,068 <SHARES-COMMON-STOCK> 14,020,133 14,013,768 <SHARES-COMMON-PRIOR> 14,013,768 13,908,916 <ACCUMULATED-NII-CURRENT> 13,928,679 6,698,324 <OVERDISTRIBUTION-NII> 0 0 <ACCUMULATED-NET-GAINS> 0 0 <OVERDISTRIBUTION-GAINS> 0 0 <ACCUM-APPREC-OR-DEPREC> 0 0 <NET-ASSETS> 155,494,947 148,214,530 <DIVIDEND-INCOME> 0 0 <INTEREST-INCOME> 10,777,301 8,941,763 <OTHER-INCOME> 1,583,241 1,487,644 <EXPENSES-NET> 9,507,672 6,866,855 <NET-INVESTMENT-INCOME> 2,852,870 3,562,552 <REALIZED-GAINS-CURRENT> 8,859,119 595,965 <APPREC-INCREASE-CURRENT> (5,799,018) 41,890 <NET-CHANGE-FROM-OPS> 5,912,971 4,200,407 <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> 4,841,238 3,935,320 <GROSS-EXPENSE> 9,507,672 6,866,855 <AVERAGE-NET-ASSETS> 0 0 <PER-SHARE-NAV-BEGIN> 10.48 10.58 <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> 11.02 10.48 <EXPENSE-RATIO> 0 0