<ARTICLE>                     5
<CIK>                         0001051829
<NAME>                        MERRILL LYNCH PREFERRED CAPITAL TRUST III
       
                             
<PERIOD-TYPE>                   OTHER
<FISCAL-YEAR-END>                        DEC-31-1999
<PERIOD-START>                           DEC-26-1998
<PERIOD-END>                             MAR-26-1999
<CASH>                                             0
<SECURITIES>                             773,196,000
<RECEIVABLES>                             13,530,930
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<PP&E>                                             0
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<CURRENT-LIABILITIES>                     13,530,930
<BONDS>                                            0
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<COMMON>                                  23,196,000
<OTHER-SE>                                         0
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<SALES>                                            0
<TOTAL-REVENUES>                          13,530,930
<CGS>                                              0
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