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UNITED STATES SECURITIES AND EXCHANGE COMMISSION
FORM 3
WASHINGTON, D.C. 20549
OMB APPROVAL
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INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES
OMB Number: 3235-0104
Expires: September 30, 1998
Filed pursuant to Section 16(a) of the
Securities Exchange Act of 1934,
Estimated average burden
Section 17(a) of the Public Utility Holding
Company Act of 1935 or hours per response 0.5
(Print or Type Responses)
Section 30(f) of the Investment Company Act of 1940
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1. Name and Address of Reporting Person*
Endowment Prime, L.L.C.
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(Last) (First) (Middle)
10 East 50th Street
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(Street)
New York NY 10022
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(City) (State) (Zip)
2. Date of Event Requiring Statement (Month/Day/Year)
9/29/98
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3. IRS or Social Security Number of Reporting Person (Voluntary)
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4. Issuer Name AND Ticker or Trading Symbol
Elsinore Corporation (ELS)
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5. Relationship of Reporting Person(s) to Issuer (Check all applicable)
Director X 10% Owner
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Officer (give title below) Other (specify below)
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6. If Amendment, Date of Original (Month/Day/Year)
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7. Individual or Joint/Group Filing
(Check Applicable Line)
X Form filed by One Reporting Person
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Form filed by More than One Reporting Person
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TABLE I -- NON-DERIVATIVE SECURITIES BENEFICIALLY OWNED
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1. Title of Security (Instr. 4)
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2. Amount of Securities Beneficially Owned (Instr. 4)
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3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)
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4. Nature of Indirect Beneficial Ownership (Instr. 5)
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Reminder: Report on a separate line for each class of securities
beneficially owned directly or indirectly. (Over)
* If the form is filed by more than one reporting person, SEE
Instruction 5(b)(v). SEC 1473 (7-97)
POTENTIAL PERSONS WHO ARE TO RESPOND TO THE COLLECTION OF
INFORMATION CONTAINED IN THIS FORM ARE NOT REQUIRED TO RESPOND UNLESS
THE FORM DISPLAYS A CURRENTLY VALID OMB CONTROL NUMBER.
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FORM 3 (CONTINUED) TABLE II - DERIVATIVE SECURITIES BENEFICIALLY OWNED
(E.G., PUTS, CALLS, WARRANTS, OPTIONS, CONVERTIBLE SECURITIES)
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1. Title of Derivative Security (Instr. 4)
Series A Convertible Preferred
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2. Date Exercisable and Expiration Date (Month/Day/Year)
Date Exercisable
Immed.
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Expiration Date
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3. Title and Amount of Securities Underlying Derivative Security
(Instr. 4)
Title
Common Stock
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Amount of Number of Shares
14,130,222.84
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4. Conversion or Exercise Price of Derivative Security
1-for-1.86
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5. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 5)
I
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6. Nature of Indirect Beneficial Ownership (Instr. 5)
(1)
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Explanation of Responses:
(1) The securities to which this filing relates are
beneficially owned by Endowment Restart, L.L.C. ("Endowment"). The
Reporting Person is the Managing Member of Endowment and, in accordance
with Instruction 5(b)(iv), the entire amount of the Issuer's securities
held by Endowment is reported herein. The Reporting Person disclaims
beneficial ownership of any of the Issuer's securities to which this
filing relates for purposes of Section 16 of the Securities Exchange Act
of 1934, except as to securities representing the Reporting Person's pro-
rata interest in, and interest in the profits of, Endowment.
/s/ Bruce Waterfall December 10, 1998
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**Intentional misstatements or omissions of facts constitute Federal
**Signature of Reporting Person Date
Criminal Violations. SEE 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
BY: John C. "Bruce" Waterfall as the Managing Member of the Reporting
Person
Note: File three copies of this Form, one of which must be manually
signed. If space is insufficient, SEE Instruction 6 for
procedure.
Potential persons who are to respond to the collection of information
contained in this form are not required to respond unless the form
displays a currently valid OMB Number.
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SEC 1473 (7-97)
