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<PAGE> PAGE 2
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<PAGE> PAGE 4
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SIGNATURE A S FILEAN
TITLE VICE PRES/SECRETARY
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> OCT-31-1999
<PERIOD-END> APR-30-1999
<INVESTMENTS-AT-COST> 31,586,531
<INVESTMENTS-AT-VALUE> 31,316,322
<RECEIVABLES> 375,048
<ASSETS-OTHER> 6,653
<OTHER-ITEMS-ASSETS> 55,000
<TOTAL-ASSETS> 31,753,023
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 8,621
<TOTAL-LIABILITIES> 8,621
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 32,022,816
<SHARES-COMMON-STOCK> 2,671,914
<SHARES-COMMON-PRIOR> 2,781,690
<ACCUMULATED-NII-CURRENT> 32,064
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (40,269)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (270,209)
<NET-ASSETS> 31,744,402
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 1,070,005
<OTHER-INCOME> 0
<EXPENSES-NET> (170,678)
<NET-INVESTMENT-INCOME> 899,327
<REALIZED-GAINS-CURRENT> 3,293
<APPREC-INCREASE-CURRENT> (431,412)
<NET-CHANGE-FROM-OPS> 471,208
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (778,038)
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<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 852,170
<NUMBER-OF-SHARES-REDEEMED> (1,022,543)
<SHARES-REINVESTED> 60,597
<NET-CHANGE-IN-ASSETS> 373,697
<ACCUMULATED-NII-PRIOR> 24,590
<ACCUMULATED-GAINS-PRIOR> (43,562)
<OVERDISTRIB-NII-PRIOR> 0
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<GROSS-ADVISORY-FEES> 79,883
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 193,765
<AVERAGE-NET-ASSETS> 31,868,000
<PER-SHARE-NAV-BEGIN> 9.93
<PER-SHARE-NII> .28
<PER-SHARE-GAIN-APPREC> (.13)
<PER-SHARE-DIVIDEND> (.28)
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<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 9.80
<EXPENSE-RATIO> 1.00<F1>
<FN>
<F1>Without the Manager's voluntary waiver of a portion of certain expenses
for this period, this fund would have had share net investment income of
$.28 and a ratio of expenses to average net assets of 1.08%. The amount
waived was $11,013.
</FN>
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> OCT-31-1999
<PERIOD-END> APR-30-1999
<INVESTMENTS-AT-COST> 31,586,531
<INVESTMENTS-AT-VALUE> 31,316,322
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<PER-SHARE-NAV-BEGIN> 9.98
<PER-SHARE-NII> .26
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<PER-SHARE-DIVIDEND> (.52)
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<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 9.86
<EXPENSE-RATIO> 1.35<F1>
<FN>
<F1>Without the Manager's voluntary waiver of a portion of certain expenses
for this period, this fund would have had share net investment income of
$.23 and a ratio of expenses to average net assets of 1.92%. The amount
waived was $6,021.
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<S> <C>
<PERIOD-TYPE> 6-MOS
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<INVESTMENTS-AT-COST> 31,586,531
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<SENIOR-EQUITY> 0
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<ACCUMULATED-NII-CURRENT> 32,064
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<ACCUM-APPREC-OR-DEPREC> (270,209)
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<PER-SHARE-NAV-BEGIN> 9.93
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<EXPENSE-RATIO> 1.60<F1>
<FN>
<F1>Without the Manager's voluntary waiver of a portion of certain expenses
for this period, this fund would have had share net investment income of
$.23 and a ratio of expenses to average net assets of 2.10%. The amount
waived was $6,053.
</FN>
</TABLE>
