UNITED SERVICES ADVISORS INC /TX/
10-C, 1996-04-22
INVESTMENT ADVICE
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                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                    Form 10-C

                 REPORT BY ISSUER OF SECURITIES QUOTED ON NASDAQ
                          INTERDEALER QUOTATION SYSTEM

                  Filed pursuant to Section 13 or 15(d) of the
                 Securities Exchange Act of 1934 and Rule 13a-17
                              or 15d-17 thereunder

                         UNITED SERVICES ADVISORS, INC.
                               7900 CALLAGHAN ROAD
                            SAN ANTONIO, TEXAS 78229
                        Telephone Number: (210) 308-1234



                    I. CHANGE IN NUMBER OF SHARES OUTSTANDING

1.    Title of security: Preferred Stock

2.    Number of shares outstanding before the change: 5,077,922 shares
      of Preferred Stock.

3.    Number of shares outstanding after the change: 6,077,922 shares
      of Preferred Stock.

4.    March 4, 1996

5.    Method of change: A shareholder of Registrant converted one
      million shares of Class B Common Stock for one million shares
      of Preferred Stock and caused Registrant to file a registration
      statement on Form S-3 to cover the offering of said shares (File
      No. 333-747).  The offering commenced February 14, 1996, and a
      closing sales report was filed with the Commission on March 14,
      1996, with respect to the sale of 1,000,000 shares of Preferred
      Stock (333-747).


                          II. CHANGE IN NAME OF ISSUER

1.    Name prior to change:

2.    Name after change:

3.    Effective date of charter amendment changing name:

4.    Date of shareholder approval of change if required:



Date: April 22, 1996                /s/ Susan B. McGee
                                    -------------------------------------
                                    SUSAN B. MC GEE
                                    VICE PRESIDENT, SECRETARY


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