FORM 3
U.S. SECURITIES AND EXCHANGE COMMISSION _____________________
WASHINGTON, D.C. 20549 | OMB APPROVAL |
INITIAL STATEMENT OF |_____________________|
BENEFICIAL OWNERSHIP OF SECURITIES |OMB NUMBER: 3235-0104|
|EXPIRES: |
| SEPTEMBER 30, 1998 |
Filed pursuant to Section 16(a) of the |ESTIMATED AVERAGE |
Securities Exchange Act of 1934, |BURDEN HOURS |
Section 17(a) of the Public Utility |PER RESPONSE 0.5 |
Holding Company Act of 1935 |_____________________|
Section 30(f) of the Investment
Company Act of 1940
____________________________________________________________________________
1. Name and Address of Reporting Person
Wilson Kendrick R.
____________________________________________________________________________
(Last) (First) (Middle)
c/o Anthracite Capital, Inc., 345 Park Avenue
____________________________________________________________________________
(Street)
New York NY 10154
____________________________________________________________________________
(City) (State) (Zip)
____________________________________________________________________________
2. Date of Event Requiring Statement (Month/Day/Year)
March 27, 1998
____________________________________________________________________________
3. IRS OR SOCIAL SECURITY NUMBER OF REPORTING PERSON (VOLUNTARY)
4. Issuer Name and Ticker or Trading Symbol
Anthracite Capital, Inc. ("AHR")
____________________________________________________________________________
5. RELATIONSHIP OF REPORTING PERSON(S) TO ISSUER (CHECK ALL APPLICABLE)
(XX) DIRECTOR
( ) 10% OWNER
( ) OFFICER (GIVE TITLE BELOW)
( ) OTHER (SPECIFY TITLE BELOW)
__________________________
____________________________________________________________________________
6. IF AMENDMENT, DATE OF ORIGINAL (MONTH/DAY/YEAR)
____________________________________________________________________________
7. INDIVIDUAL OR JOINT/GROUP FILING (CHECK APPLICABLE LINE)
_X_FORM FILED BY ONE REPORTING PERSON
___FORM FILED BY MORE THAN ONE REPORTING PERSON
============================================================================
TABLE I - NON-DERIVATIVE SECURITIES BENEFICIALLY OWNED
____________________________________________________________________________
|1. TITLE OF SECURITY|2. AMOUNT OF |3. OWNERSHIP |4. NATURE OF INDIRECT |
| (INSTR. 4) | SECURITIES | FORM DIRECT| BENEFICIAL OWNERSHIP|
| | BENEFICIALLY| DIRECT (D) | (INSTR. 5) |
| | OWNED | OR INDIRECT| |
| | (INSTR. 4) | (I) (INSTR.| |
| | | 5) | |
|____________________|_______________|______________|_______________________|
Common Stock, par 0 N/A N/A
value $.001 per
share
============================================================================
TABLE II - DERIVATIVE SECURITIES BENEFICIALLY OWNED
(E.G., PUTS, CALLS, WARRANTS, OPTIONS, CONVERTIBLE SECURITIES)
____________________________________________________________________________
1. Title of Derivative Security (Instr. 4)
Stock Option (Right to Buy)
____________________________________________________________________________
2. Date Exercisable and Expiration Date (Month/Day/Year)
(i) 03/27/99 03/27/2008
(ii) 03/27/2000 03/27/2008
(iii) 03/27/2001 03/27/2008
(iv) 03/27/2002 03/27/2008
________________________ _________________________
Date Exercisable Expiration Date
____________________________________________________________________________
3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)
(i) Common Stock, par value 5,000
$.001 per share
(ii) Common Stock, par value 5,000
$.001 per share
(iii) Common Stock, par value 5,000
$.001 per share
(iv) Common Stock, par value 5,000
$.001 per share
________________________________ _______________________________
Title Amount of Number of Shares
____________________________________________________________________________
4. Conversion or Exercise Price of Derivative Security
(i) $15.00
(ii) $15.00
(iii) $15.00
(iv) $15.00
____________________________________________________________________________
5. Ownership Form of Derivative Security: Direct(D) or Indirect(I)(Instr. 5)
D
____________________________________________________________________________
6. Nature of Indirect Beneficial Ownership (Instr. 5)
N/A
============================================================================
EXPLANATION OF RESPONSES:
/s/ Richard M. Shea April 6, 1998
--------------------------------- -------------
Attorney-in-Fact DATE
** SIGNATURE OF REPORTING PERSON
_____________________________
** INTENTIONAL MISSTATEMENTS OR OMISSIONS OF FACTS CONSTITUTE FEDERAL
CRIMINAL VIOLATIONS.
SEE 18 U.S.C. 1001 AND 15 U.S.C. 78FF(A).
NOTE: FILE THREE COPIES OF THIS FORM, ONE OF WHICH MUST BE MANUALLY SIGNED.
IF SPACE PROVIDED IS INSUFFICIENT, SEE INSTRUCTION 6 FOR PROCEDURE
POTENTIAL PERSONS WHO ARE TO RESPOND TO THE COLLECTION OF INFORMATION
CONTAINED IN THIS FORM ARE NOR REQUIRED TO RESPOND UNLESS THE FORM
DISPLAYS A CURRENTLY VALID OMB NUMBER.
=============================================================================
AUTHORIZATION TO SIGN
FORM 3 - INITIAL STATEMENT OF BENEFICIAL OWNERSHIP
FORM 4 - STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
The undersigned hereby authorizes each of Hugh R. Frater and Richard M.
Shea individually to sign Form 3 - Initial Statement of Beneficial
Ownership and Form 4 - Statement of Changes in Beneficial Ownership
required to be filed on my behalf with respect to Anthracite Capital, Inc.
This authorization acknowledges authorization to file reports commencing
the date hereof. This authorization shall continue until revoked by the
undersigned.
Dated: April 1, 1998
/s/ Kendrick R. Wilson, III
-----------------------------
Name: Kendrick R. Wilson, III
