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SIGNATURE   DENNIS J MCDONNELL


TITLE       PRES, CEO & TRUSTEE


ARTICLE 6


PERIOD TYPE 6 MOS
FISCAL YEAR END DEC 31 1996
PERIOD START JAN 01 1996
PERIOD END JUN 30 1996
INVESTMENTS AT COST 116854635
INVESTMENTS AT VALUE 117459131
RECEIVABLES 3919673
ASSETS OTHER 109204
OTHER ITEMS ASSETS 943
TOTAL ASSETS 121488951
PAYABLE FOR SECURITIES 2351615
SENIOR LONG TERM DEBT 0
OTHER ITEMS LIABILITIES 245883
TOTAL LIABILITIES 2597498
SENIOR EQUITY 0
PAID IN CAPITAL COMMON 141136920
SHARES COMMON STOCK 15290019
SHARES COMMON PRIOR 15290019
ACCUMULATED NII CURRENT 369011
OVERDISTRIBUTION NII 0
ACCUMULATED NET GAINS (23218974)
OVERDISTRIBUTION GAINS 0
ACCUM APPREC OR DEPREC 604496
NET ASSETS 118891453
DIVIDEND INCOME 0
INTEREST INCOME 5582839
OTHER INCOME 0
EXPENSES NET 593989
NET INVESTMENT INCOME 4988850
REALIZED GAINS CURRENT 469772
APPREC INCREASE CURRENT (3047280)
NET CHANGE FROM OPS 2411342
EQUALIZATION 0
DISTRIBUTIONS OF INCOME 4931201
DISTRIBUTIONS OF GAINS 0
DISTRIBUTIONS OTHER 0
NUMBER OF SHARES SOLD 0
NUMBER OF SHARES REDEEMED 0
SHARES REINVESTED 0
NET CHANGE IN ASSETS (2519859)
ACCUMULATED NII PRIOR 311362
ACCUMULATED GAINS PRIOR (23688746)
OVERDISTRIB NII PRIOR 0
OVERDIST NET GAINS PRIOR 0
GROSS ADVISORY FEES 389405
INTEREST EXPENSE 0
GROSS EXPENSE 593989
AVERAGE NET ASSETS 119816919
PER SHARE NAV BEGIN 7.94
PER SHARE NII 0.330
PER SHARE GAIN APPREC (0.167)
PER SHARE DIVIDEND 0.323
PER SHARE DISTRIBUTIONS 0.000
RETURNS OF CAPITAL 0
PER SHARE NAV END 7.78
EXPENSE RATIO .99 1
AVG DEBT OUTSTANDING 0
AVG DEBT PER SHARE 0
1 Expense ratio is annualized.