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OMB Number 3235-0287
Expires: September 30, 1998
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U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 3
INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES
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 of 1940
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1. Name and Address of Reporting Person
Murphy Katherine R.
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(Last) (First) (Middle)
3500 Oak Lawn, Suite 590, LB 49
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(Street)
Dallas TX 75219
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(City) (State) (Zip)
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2. Date of Event Requiring Statement (Month/Day/Year)
March 22, 1999
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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
Gladstone Resources, Inc. ( )
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5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
[ X ] Director [ ] 10% Owner
[ X ] Officer (give title below) [ ] Other (specify below)
Treasurer/Assistant Secretary
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6. If Amendment, Date of Original (Month/day/Year)
N/A
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7. Individual or Joint/Group Filing (Check Applicable Line)
[ X ] Form filed by One Reporting Person
[ ] Form filed by More than One Reporting Person
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<TABLE>
<CAPTION>
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Table I -- Non-Derivative Securities Beneficially Owned
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2. 3.
1. Amount of Securities Ownership Form
Title of Security Beneficially Owned Direct (D) or 4.
(Instr. 4) (Instr. 4) Indirect (I) Nature of Indirect Beneficial Ownership
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<S> <C> <C> <C>
Common Stock 86,466 D
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Reminder: Report on a separate line for each class of securities beneficially
owned directly or indirectly.
* If the form is filed by more than one reporting person, See Instruction
5(b)(v).
</TABLE>
<PAGE>
FORM 3 (continued)
<TABLE>
<CAPTION>
Table II -- Derivative Securities Beneficially Owned (e.g., puts, calls,warrants,
options, convertible securities)
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3.
Title and Amount
2. of Securities
Date Exercisable and Underlying 5.
Expiration Date Derivative Security 4. Ownership
(Month/Day/Year) (Instr. 4) Conversion Form of 6.
1. -------------------- ------------------- or Exercise Derivative Nature
Title of Date Expira- Amount or Price of Security: of Indirect
Derivative Security Exer- tion Number of Derivative Direct (D) Beneficial
(Instr. 4) cisable Date Title Shares Security or Indirect (I) Ownership
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<S> <C> <C> <C> <C> <C> <C> <C>
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</TABLE>
Explanation of Responses:
/s/ KATHERINE R. MURPHY April 1, 1999
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**Signature of Reporting Person Date
** Intentional misstatements or omissions of facts constitute Federal
Criminal Violations.
See 18 U.S.C. 1001 and 15 U.S.C. 78f(a).
Note: File three copies of this Form, one of which must be manually
signed. If space provided is insufficient, see Instruction 6
for procedures.
