UNITED STATES SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 4
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
(X) Check this box if no longer subject to Section 16.
Form 4 or Form 5 obligations may continue. See Instructions 1(b).
1. Name and Address of Reporting Person
Schmid, Peter
Schlickgasse 1
Vienna, A-1090
AUSTRIA
2. Issuer Name and Ticker or Trading Symbol
Eastbrokers International Incorporated
("EAST")
3. IRS or Social Security Number of Reporting Person (Voluntary)
4. Statement for Month/Year
01/31/1999
5. If Amendment, Date of Original (Month/Year)
6. Relationship of Reporting Person(s) to Issuer (Check all applicable)
( ) Director (X) 10% Owner ( ) Officer (give title below) ( ) Other
(specify below)
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>
<CAPTION>
___________________________________________________________________________________________________________________________________
Table I -- Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned |
___________________________________________________________________________________________________________________________________|
1. Title of Security |2. |3. |4.Securities Acquired (A) |5.Amount of |6.Dir |7.Nature of Indirect |
| Transaction | or Disposed of (D) | Securities |ect | Beneficial Ownership |
| | | | Beneficially |(D)or | |
| | | | | A/| | Owned at |Indir | |
| Date |Code|V| Amount | D | Price | End of Month |ect(I)| |
___________________________________________________________________________________________________________________________________|
<S> <C> <C> <C><C> <C> <C> <C> <C> <C>
Common Stock, $0.05 par val|01/01/|S | |166,959 |D |$15.00 |27,775 |D |(1) |
ue per share |99 | | | | | | | | |
- -----------------------------------------------------------------------------------------------------------------------------------|
Common Stock, $0.05 par val|01/01/|S | |359,925 |D |$15.00 |-0- |I |(1) |
ue per share |99 | | | | | | | | |
- -----------------------------------------------------------------------------------------------------------------------------------|
___________________________________________________________________________________________________________________________________|
<CAPTION>
___________________________________________________________________________________________________________________________________
Table II -- Derivative Securitites Acquired, Disposed of, or Beneficially Owned |
___________________________________________________________________________________________________________________________________|
1.Title of Derivative |2.Con- |3. |4. |5.Number of De |6.Date Exer|7.Title and Amount |8.Price|9.Number |10.|11.Nature of|
Security |version |Transaction | rivative Secu |cisable and| of Underlying |of Deri|of Deriva |Dir|Indirect |
|or Exer | | | rities Acqui |Expiration | Securities |vative |tive |ect|Beneficial |
|cise | | | red(A) or Dis |Date(Month/| |Secu |Securities |(D)|Ownership |
|Price of| | | posed of(D) |Day/Year) | |rity |Benefi |or | |
|Deriva- | | | |Date |Expir| | |ficially |Ind| |
|tive | | | | A/|Exer-|ation| Title and Number | |Owned at |ire| |
|Secu- | | | | | D |cisa-|Date | of Shares | |End of |ct | |
|rity |Date |Code|V| Amount | |ble | | | |Month |(I)| |
___________________________________________________________________________________________________________________________________|
<S> <C> <C> <C> <C><C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Stock Options (Right t|$10.00 |01/01|S | |33,000 |D |02/01|08/01|Common Stock|33,000 |$2.00 |-0- |D |-- |
o Buy) | |/99 | | | | |/97 |/01 |, $0.05 par | | | | | |
| | | | | | | | |value per sh| | | | | |
| | | | | | | | |are | | | | | |
- -----------------------------------------------------------------------------------------------------------------------------------|
| | | | | | | | | | | | | | |
___________________________________________________________________________________________________________________________________|
</TABLE>
Explanation of Responses:
(1) 359,925 shares were owned by Karntner Landes und Hypothekenbank AG ("KLH")
as nominee for Psuyoshi Trust Vaduz and 27,775 shares are
owned by KLH as nominee for Mr. Schmid. Mr. Schmid has sole voting and
investment power with respect to the trust shares and is a beneficiary of
this trust.
SIGNATURE OF REPORTING PERSON
/s/ Peter Schmid
DATE
February 10, 1999
