<ARTICLE> BD
       
                                                  
<PERIOD-TYPE>                   9-MOS                   9-MOS
<FISCAL-YEAR-END>                          OCT-31-1995             OCT-31-1994
<PERIOD-START>                             OCT-31-1995             OCT-31-1994
<PERIOD-END>                               JUL-31-1996             JUL-31-1995
<CASH>                                       2,457,298                 272,798
<RECEIVABLES>                                  102,220                (70,634)
<SECURITIES-RESALE>                                  0                       0
<SECURITIES-BORROWED>                                0                       0
<INSTRUMENTS-OWNED>                                  0               2,900,726
<PP&E>                                               0                       0
<TOTAL-ASSETS>                               2,559,518               3,102,890
<SHORT-TERM>                                         0                       0
<PAYABLES>                                      44,050                  45,395
<REPOS-SOLD>                                         0                       0
<SECURITIES-LOANED>                                  0                       0
<INSTRUMENTS-SOLD>                                   0                       0
<LONG-TERM>                                          0                       0
<COMMON>                                     2,515,468               3,057,495
<PREFERRED-MANDATORY>                                0                       0
<PREFERRED>                                          0                       0
<OTHER-SE>                                           0                       0
<TOTAL-LIABILITY-AND-EQUITY>                 2,559,518               3,102,890
<TRADING-REVENUE>                               23,077               (481,109)
<INTEREST-DIVIDENDS>                            94,189                 163,197
<COMMISSIONS>                                (154,354)               (203,030)
<INVESTMENT-BANKING-REVENUES>                        0                       0
<FEE-REVENUE>                                        0                       0
<INTEREST-EXPENSE>                                   0                       0
<COMPENSATION>                                (70,517)                (66,947)
<INCOME-PRETAX>                              (107,605)               (587,889)
<INCOME-PRE-EXTRAORDINARY>                           0                       0
<EXTRAORDINARY>                                      0                       0
<CHANGES>                                            0                       0
<NET-INCOME>                                 (107,605)               (587,889)
<EPS-PRIMARY>                                        0                       0
<EPS-DILUTED>                                        0                       0