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<PAGE> PAGE 5
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SIGNATURE TARA ELDER
TITLE ACCT ADMIN
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> DEC-31-1999
<PERIOD-END> JUN-30-1999
<INVESTMENTS-AT-COST> 78144248
<INVESTMENTS-AT-VALUE> 83950423
<RECEIVABLES> 1167966
<ASSETS-OTHER> 182287
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 85300676
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 41668
<TOTAL-LIABILITIES> 41668
<SENIOR-EQUITY> 26600000
<PAID-IN-CAPITAL-COMMON> 49484420
<SHARES-COMMON-STOCK> 5300000
<SHARES-COMMON-PRIOR> 5300000
<ACCUMULATED-NII-CURRENT> 3348013
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 20400
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 5806175
<NET-ASSETS> 85259008
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 2436400
<OTHER-INCOME> 0
<EXPENSES-NET> 285291
<NET-INVESTMENT-INCOME> 2151109
<REALIZED-GAINS-CURRENT> 21203
<APPREC-INCREASE-CURRENT> (2587783)
<NET-CHANGE-FROM-OPS> (415471)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 1658441<F1>
<DISTRIBUTIONS-OF-GAINS> 803
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 0
<NUMBER-OF-SHARES-REDEEMED> 0
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> (2074715)
<ACCUMULATED-NII-PRIOR> 2855345
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 107877
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 289195
<AVERAGE-NET-ASSETS> 87016840
<PER-SHARE-NAV-BEGIN> 11.46
<PER-SHARE-NII> 0.41
<PER-SHARE-GAIN-APPREC> (0.48)
<PER-SHARE-DIVIDEND> 0.32<F2>
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 11.07
<EXPENSE-RATIO> 0.97
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
<FN>
<F1>common distributions=1,258,750; preferred distributions=399,691
<F2>common distributions per share=0.24; preferred distributions per share=0.08
</FN>
</TABLE>
