F O R M 4 U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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Filed pursuant to Section 16(a) of the Securities
Exchange Act of 1934, Section 17(a) of the Public
Utility Holding Company Act of 1935 or
Section 30(f) of the Investment Company Act 1940
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1.Name and Address of 2.Issuer Name and Ticker 6.Relationship of Reporting
Reporting Person* or Trading Symbol Person to Issuer (check
all Applicable)
Hallwood Realty
Partners, L.P. (HRY)
<TABLE>
<CAPTION>
<S> <C> <C> <C> <C>
The Hallwood Group Incorporated December, 1999 Director X 10% Owner
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(Last) (First) (MI) 3.IRS or Soc.Sec.No. 4.Statement for Officer Other
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of Reporting Person Month/Year (Give title (specify below)
(Voluntary) below)
Senior Vice President, Chief
3710 Rawlins, Suite 1500 Financial Officer & Treasurer
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(Street) ----------------
5.If Amendment, 7.Individual or Joint/Group
Date of Original Filing (Check Applicable
Dallas TX 75219 (Month/Year)
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Line)
(City) (State) (Zip)
X Form filed by One
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Reporting Person
Form filed by More
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than One Reporting Person
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Table I - Non-Derivative Securities Acquired, Disposed of or Beneficially Owned
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<CAPTION>
<S> <C> <C> <C>
1. Title of Security 2. Transaction 3. Transaction 4. Security Acquired (A)
(Inst.3) Date Code or Disposed of (D)
(Month/ (Instr.8) (Inst.3, 4 & 5)
Day/Yr) _________________________________________
(A)
Code V Amount (D) Price
Units of Limited Partnership 12/21/99 J 82,608 D (1)
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5. Amount of Securities 6. Ownership Form 7. Nature of Indirect
Beneficially Owned at Direct (D) or Beneficial Ownership
at End of Month Indirect (I) (Inst. 4)
(Inst. 3 & 4)
-0- N/A N/A
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</TABLE>
Reminder: Report on a separate line for each class securities owned directly or
indirectly. *If the form is filed by more than one reporting person, see
Instruction 4(b)(v). Page 1
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FORM 4 (continued)
Page 2
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Table II - Derivative Securities Acquired, Disposed of,
or Beneficially Owned (e.g., puts, calls,
warrants, options, convertible security)
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1. Title of 2. Conversion 3. Transaction 4. Transaction
Derivative or Exercise Date (Month Code
Security Price of (Day/Year) (Instr. 8)
(Instr.3) Derivative
Security Code V
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</TABLE>
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<CAPTION>
<S> <C> <C> <C> <C> <C>
5. Number of Derivative 6. Date Exercisable 7. Title & Amount of
Securities Acquired & Expiration Date Underlying Securities
(A) or Disposed of (D) (Mon./Day/Year) (Inst. 3 & 4)
(Instr. 3, 4 & 5)
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(A) (D) Date Expiration Title Amount or number
Exercisable Date of Shares
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</TABLE>
<TABLE>
<CAPTION>
<S> <C> <C> <C>
8. Price of Derivative 9. Number of Derivative Securities 10. Ownership Form of 11. Nature of Indirect
Security (Inst.5) Beneficially Owned at end of Derivative Security Beneficial
Month (Instr. 4) Direct (D) or Ownership (Instr.4)
Indirect (I) (Instr.4)
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<FN>
Explanation of Responses
(1) The Units (the "Units") were transferred pursuant to an Agreement dated May
5, 1999 (the "Agreement") between The Hallwood Group Incorporated ("HWG")
and Mr. Brian M. Troup. Pursuant to the Agreement, HWG transferred 82,608
Units and certain other consideration to Epsilon Trust (the "Trust"), of
which Mr. Troup is a beneficiary, in exchange for the cancellation of
305,196 shares of HWG owned by the Trust and the cancellation of options to
purchase 37,200 shares of HWG. Pursuant to the Agreement, for six months
following execution of the Agreement, HWG has the right to repurchase the
Units from the Trust at their market value (based on the average trading
price for the twenty days preceding the purchase). After June 21, 2000, HWG
has a right of first refusal on the Units.
</FN>
</TABLE>
<TABLE>
<CAPTION>
<S> <C>
/s/ Melvin J. Melle 02/25/00
**Intentional misstatements or omissions of facts constitute Federal ------------------------------------------
Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). Melvin J. Melle, Vice President Date
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Potential persons who are to respond to the collections of information contained
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