<ARTICLE>                              5
<LEGEND>                             
                                       The Schedule contains summary financial 
                                       information extracted from the financial 
                                       statements for American Tax-Exempt Bond 
                                       Trust and is qualified in its entirety by
                                       reference to such financial statements
</LEGEND>                            
<CIK>                                  0000916824
<NAME>                                 American Tax Exempt Bond Trust
<MULTIPLIER>                           1
                                      
                                   
<PERIOD-TYPE>                          6-MOS
<FISCAL-YEAR-END>                      DEC-31-1996
<PERIOD-START>                         JAN-1-1996
<PERIOD-END>                           JUN-30-1996
<CASH>                                                                  127,263
<SECURITIES>                                                         19,981,023
<RECEIVABLES>                                                           464,654
<ALLOWANCES>                                                                  0
<INVENTORY>                                                                   0
<CURRENT-ASSETS>                                                              0
<PP&E>                                                                        0
<DEPRECIATION>                                                                0
<TOTAL-ASSETS>                                                       20,572,940
<CURRENT-LIABILITIES>                                                   211,107
<BONDS>                                                                       0
<PREFERRED-MANDATORY>                                                         0
<PREFERRED>                                                                   0
<COMMON>                                                                      0
<OTHER-SE>                                                           20,361,833
<TOTAL-LIABILITY-AND-EQUITY>                                         20,572,940
<SALES>                                                                       0
<TOTAL-REVENUES>                                                        600,876
<CGS>                                                                         0
<TOTAL-COSTS>                                                                 0
<OTHER-EXPENSES>                                                        100,147
<LOSS-PROVISION>                                                              0
<INTEREST-EXPENSE>                                                            0
<INCOME-PRETAX>                                                         500,729
<INCOME-TAX>                                                                  0
<INCOME-CONTINUING>                                                           0
<DISCONTINUED>                                                                0
<EXTRAORDINARY>                                                               0
<CHANGES>                                                                     0
<NET-INCOME>                                                            500,729
<EPS-PRIMARY>                                                               .47
<EPS-DILUTED>                                                                 0