<ARTICLE> BD
<CURRENCY> U.S. DOLLARS

                                                  
<PERIOD-TYPE>                   9-MOS                   9-MOS
<FISCAL-YEAR-END>                          JUL-31-1998             JUL-31-1997
<PERIOD-START>                             JUL-31-1998             JUL-31-1997
<PERIOD-END>                               APR-30-1999             APR-30-1998
<EXCHANGE-RATE>                                      1                       1
<CASH>                                       2,132,622               2,591,526
<RECEIVABLES>                                  289,269                (27,581)
<SECURITIES-RESALE>                                  0                       0
<SECURITIES-BORROWED>                                0                       0
<INSTRUMENTS-OWNED>                         12,859,404              13,361,199
<PP&E>                                               0                       0
<TOTAL-ASSETS>                              15,281,295              15,925,144
<SHORT-TERM>                                         0                       0
<PAYABLES>                                     200,719                 237,150
<REPOS-SOLD>                                         0                       0
<SECURITIES-LOANED>                                  0                       0
<INSTRUMENTS-SOLD>                                   0                       0
<LONG-TERM>                                          0                       0
<PREFERRED-MANDATORY>                                0                       0
<PREFERRED>                                          0                       0
<COMMON>                                    15,080,576              15,687,994
<OTHER-SE>                                           0                       0
<TOTAL-LIABILITY-AND-EQUITY>                15,281,295              15,925,144
<TRADING-REVENUE>                            1,133,527                 328,435
<INTEREST-DIVIDENDS>                           704,513                 737,188
<COMMISSIONS>                                (468,664)               (486,510)
<INVESTMENT-BANKING-REVENUES>                        0                       0
<FEE-REVENUE>                                        0                       0
<INTEREST-EXPENSE>                                   0                       0
<COMPENSATION>                               (123,035)                (35,502)
<INCOME-PRETAX>                              1,246,341                 543,611
<INCOME-PRE-EXTRAORDINARY>                           0                       0
<EXTRAORDINARY>                                      0                       0
<CHANGES>                                            0                       0
<NET-INCOME>                                 1,246,341                 543,611
<EPS-BASIC>                                        0                       0
<EPS-DILUTED>                                        0                       0