<TABLE>
1717 K Street, NW, Suite 707
Washington, DC 20006-1504
Telephone (202) 331-8055
Fax (202) 331-8190
TIN: 52-6220193
Participant I.D.: BTT027
TIN: 52-6127745
Distributions are: Reinvested
Mr. Dave Stupar, Executive Director
Bricklayers & Trowel Trades
Int'l. Pension Fund
815 Fifteenth Street, N.W.
Washington, DC 20005
<CAPTION>
Investment
Summary
July 1, 1997 - July
31, 1997
Transactions
Market
Value Units this Total Investment
Date Description Dollar Amount per Unit
Transaction Units Balance
<S> <C> <C> <C>
<C> <C> <C>
07/01/96 Beginning Balance
$1,079.3273 36,288.8109 $39,167,504.29
07/31/96 Income of $6.9965/unit 253,893.89
07/31/96 Reinvestment of Income 253,893.89
1,096.5141 231.5464 36,520.3573 40,045,086.72
07/31/96 Ending Balance
$1,096.5141 36,520.3573 $40,045,086.72
<CAPTION>
Monthly Income Per
Unit
Ordinary Income Capital Gains
Operating Expenses Net Income
$7.3709385687 0.0000000000
(0.3744598010) 6.9964787677
Performance
Type of Return 1-Month 3-Month 1-Year
3-Year 5-Year 10-Year Inception-to-Date
<S> <C> <C> <C>
<C> <C> <C> <C>
Trust Time-Weighted, Gross 2.28% 4.91% 12.36%
10.48% 8.40% N/A --
Trust Time-Weighted, Net 2.24% 4.79% 11.88%
9.97% 7.89% N/A --
Participant Dollar-Weighted, Net 2.24% 4.79% 11.85%
9.92% 7.85% N/A 9.63%
<FN>
<F1>
Note: Returns greater than one
year are annualized.
All performance figures presented herein are based upon
historical results and do not assure future performance.
Units may be worth more or less at
redemption than at original purchase.
</FN>
</TABLE>