UNITED STATES SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 3
INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES
1. Name and Address of Reporting Person
Klein Henry
c/o
THCG, Inc.
650 Madison Avenue
21st Floor
New York, NY 10022
2. Date of Event Requiring Statement (Month/Day/Year)
11/1/99
3. IRS or Social Security Number of Reporting Person (Voluntary)
4. Issuer Name and Ticker or Trading Symbol
THCG, Inc. ("THCG")
(f/k/a Walnut Financial Services, Inc. ("WNUT"))
5. Relationship of Reporting Person(s) to Issuer (Check all applicable)
(X) Director ( ) 10% Owner ( ) Officer (give title below) ( ) Other
(specify below)
6. If Amendment, Date of Original (Month/Day/Year)
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 Beneficially Owned |
___________________________________________________________________________________________________________________________________|
1. Title of Security |2. Amount of |3. Ownership |4. Nature of Indirect |
| Securities | Form: | Beneficial Ownership |
| Beneficially | Direct(D) or | |
| Owned | Indirect(I) | |
___________________________________________________________________________________________________________________________________|
<S> <C> <C> <C>
Common Stock | 12,500 | D | |
- -----------------------------------------------------------------------------------------------------------------------------------|
| | | |
- -----------------------------------------------------------------------------------------------------------------------------------|
| | | |
- -----------------------------------------------------------------------------------------------------------------------------------|
| | | |
- -----------------------------------------------------------------------------------------------------------------------------------|
* If form is filed by more than one reporting person, see Instruction 5(b)(v). (Over)
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. SEC 1473 (7-96)
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
Form 3 (continued) Table II - Derivative Securitites Beneficially Owned (e.g., puts, calls, warrants, options, convertible
securities)
___________________________________________________________________________________________________________________________________
Table II -- Derivative Securitites Beneficially Owned |
___________________________________________________________________________________________________________________________________|
1.Title of Derivative |2.Date Exer- |3.Title and Amount | |4. Conver-|5. Owner- |6. Nature of Indirect |
Security | cisable and | of Underlying | |sion or |ship | Beneficial Ownership |
| Expiration | Securities | |exercise |Form of | |
| Date(Month/ |-----------------------|---------|price of |Deriv- | |
| Day/Year) | |Amount |deri- |ative | |
| Date | Expira- | |or |vative |Security: | |
| Exer- | tion | Title |Number of|Security |Direct(D) or | |
| cisable | Date | |Shares | |Indirect(I) | |
___________________________________________________________________________________________________________________________________|
<S> <C> <C> <C> <C> <C> <C> <C>
___________________________________________________________________________________________________________________________________|
| | | | | | |
- -----------------------------------------------------------------------------------------------------------------------------------|
| | | | | | |
- -----------------------------------------------------------------------------------------------------------------------------------|
| | | | | | |
- -----------------------------------------------------------------------------------------------------------------------------------|
| | | | | | |
- -----------------------------------------------------------------------------------------------------------------------------------|
| | | | | | |
- -----------------------------------------------------------------------------------------------------------------------------------|
Explanation of Responses:
** Intentional misstatements or omissions of facts constitute Federal /s/ Henry Klein 11/5/99
Criminal Violations. ------------------------------- ----------
See 18 U.S.C. 1001 and 15 U.S. C. 78ff(a). ** Signature of Reporting Person Date
</TABLE>
Note: File three copies of this Form, one of which must be manually signed. If
space provided 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.
Page 2
