<ARTICLE> 6
<LEGEND>
This schedule contains summary financial information extracted from the
consolidated statement of financial condition at June 30, 1996 (unaudited) and
the consolidated statement of operations for the three months ended
June 30, 1996 (unaudited) and is qualified in its entirety by reference to such
financial statements.
</LEGEND>
       
                             
<PERIOD-TYPE>                   3-MOS
<FISCAL-YEAR-END>                          MAR-31-1996
<PERIOD-END>                               JUN-30-1996
<INVESTMENTS-AT-COST>                       61,544,100
<INVESTMENTS-AT-VALUE>                     272,684,121
<RECEIVABLES>                                  365,187
<ASSETS-OTHER>                               2,819,636
<OTHER-ITEMS-ASSETS>                        13,903,074
<TOTAL-ASSETS>                             289,772,018
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                     11,000,000
<OTHER-ITEMS-LIABILITIES>                   81,370,317
<TOTAL-LIABILITIES>                         92,370,317
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                     9,017,537
<SHARES-COMMON-STOCK>                        3,767,051
<SHARES-COMMON-PRIOR>                        3,767,051
<ACCUMULATED-NII-CURRENT>                    4,553,662
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                     53,307,782
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                   137,556,022
<NET-ASSETS>                               197,401,701
<DIVIDEND-INCOME>                              802,484
<INTEREST-INCOME>                              369,947
<OTHER-INCOME>                                 157,100
<EXPENSES-NET>                                 494,833
<NET-INVESTMENT-INCOME>                        816,698
<REALIZED-GAINS-CURRENT>                             0
<APPREC-INCREASE-CURRENT>                    8,290,660
<NET-CHANGE-FROM-OPS>                        9,107,358
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                      753,410
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                              0
<NUMBER-OF-SHARES-REDEEMED>                          0
<SHARES-REINVESTED>                                  0
<NET-CHANGE-IN-ASSETS>                       8,353,948
<ACCUMULATED-NII-PRIOR>                      4,490,374
<ACCUMULATED-GAINS-PRIOR>                   53,307,782
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                                0
<INTEREST-EXPENSE>                             235,613
<GROSS-EXPENSE>                                494,833
<AVERAGE-NET-ASSETS>                                 0
<PER-SHARE-NAV-BEGIN>                            50.18
<PER-SHARE-NII>                                    .22
<PER-SHARE-GAIN-APPREC>                           2.20
<PER-SHARE-DIVIDEND>                             (.20)
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              52.40
<EXPENSE-RATIO>                                      0
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0