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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
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<SEC-DOCUMENT>0000938077-98-000063.txt : 19980911
<SEC-HEADER>0000938077-98-000063.hdr.sgml : 19980911
ACCESSION NUMBER:		0000938077-98-000063
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	19980831
FILED AS OF DATE:		19980910
SROS:			NYSE

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			CLEMENTE GLOBAL GROWTH FUND INC
		CENTRAL INDEX KEY:			0000814083
		STANDARD INDUSTRIAL CLASSIFICATION:	UNKNOWN SIC - 0000 [0000]
		IRS NUMBER:				133407699
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		
		SEC FILE NUMBER:	811-05150
		FILM NUMBER:		98707660

	BUSINESS ADDRESS:	
		STREET 1:		237 PARK AVE
		STREET 2:		C/O FURMAN SELZ
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10017
		BUSINESS PHONE:		2128083942

	MAIL ADDRESS:	
		STREET 1:		152 W 57TH ST 25TH FLOOR
		STREET 2:		CARNEGIE HALL TOWER
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019
<REPORTING-OWNER>

COMPANY DATA:	
	COMPANY CONFORMED NAME:			DEEP DISCOUNT ADVISORS INC /NC/
	CENTRAL INDEX KEY:			0000938077
	STANDARD INDUSTRIAL CLASSIFICATION:	 []
<RELATIONSHIP>OWNER
	IRS NUMBER:				561827546

FILING VALUES:
	FORM TYPE:		4

BUSINESS ADDRESS:	
	STREET 1:		ONE WEST PACK SQU
	STREET 2:		SUITE 777
	CITY:			ASHEVILLE
	STATE:			NC
	ZIP:			28801
	BUSINESS PHONE:		7042741863

MAIL ADDRESS:	
	STREET 1:		ONE WEST PACK SQUARE
	STREET 2:		SUITE 777
	CITY:			ASHEVILLE
	STATE:			NC
	ZIP:			28801
</REPORTING-OWNER>
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<TEXT>


<PAGE>

FORM 4                                                        OMB APPROVAL
                                                    OMB Number:       3235-0287
[ ] Check this box if no longer subject             Expires: September 30, 1998
    to Section 16. Form 4 or Form 5                 Estimated average burden
    obligations may continue. See                   hours per response..... 0.5
    Instruction 1(b).


                   U.S. SECURITIES AND EXCHANGE COMMISSION
                            Washington, D.C. 20549


                 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

   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

_______________________________________________________________________________

1. Name and Address of Reporting Person

   Deep Discount Advisors, Inc.
- - -----------------------------------------------------
   (Last)            (First)            (Middle)

   One West Pack Square, Suite 777
- - -----------------------------------------------------
                     (Street)

   Asheville               NC          28801
- - -----------------------------------------------------
   (City)               (State)         (Zip)

_______________________________________________________________________________

2. Issuer Name and Ticker or Trading Symbol


        Clemente Global Growth Fund, Inc. (CLM)
_______________________________________________________________________________

3. IRS or Social Security Number of Reporting Person (Voluntary)

   

_______________________________________________________________________________

4. Statement for Month/Year

   August 1998

_______________________________________________________________________________

5. If Amendment, Date of Original (Month/Year)

   

_______________________________________________________________________________

6. Relationship of Reporting Person to Issuer
   (Check all applicable)

   [ ] Director
   [X] 10% Owner
   [ ] Officer (give title below)
   [ ] Other (specify below)


_______________________________________________________________________________

7. Individual or Joint/Group Filing

   [ ] Form Filed by One Reporting Person
   [X] Form Filed by More than One Reporting Person

_______________________________________________________________________________


<PAGE>
<TABLE>
<CAPTION>
                    TABLE I--Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
- - ------------------------------------------------------------------------------------------------------------------------
          1.                2.           3.                     4.                       5.           6.          7.    
- - ---------------------    --------    ----------   ------------------------------    -----------   ----------  ----------
                                                                                    Amount of     Owner-                
                                                                                    Securities    ship                  
                         Trans-      Trans-          Securities Acquired (A)        Beneficially  Form:                 
                         action      action          or Disposed of (D)             Owned at      Direct      Nature of 
                         Date        Code            (Instr. 3, 4 and 5)            End of        (D) or      Indirect  
Title of                 (Month/     (Instr. 8)   ----------------------------      Month         Indirect    Beneficial
Security                  Day/       ----------     Amount    (A) or    Price       (Instr.       (I)         Ownership 
(Instr. 3)                Year)      Code   V                   (D)                 3 and 4)      (Instr. 4)  (Instr. 4)
- - ---------------------    --------    ----  ----   -----------  ------  ---------    -----------   ----------  ----------
<S>                      <C>         <C>   <C>    <C>           <C>    <C>          <C>           <C>         <C> 
Common Stock              8/5/98      P            1100          A      $12.125                    I           By Clients
Common Stock              8/10/98     P            7000          A      $11.875                    I           By Clients    
Common Stock              8/12/98     P            1800          A      $11.4861                   I           By Clients
Common Stock              8/12/98     P            1200          A      $11.3125                   I           By Clients
Common Stock              8/19/98     P            4000          A      $11.7188     1,174,653     I           By Clients

</TABLE>

                                                                         (Over)

<PAGE>


FORM 4 (continued)

<TABLE>
<CAPTION>
                     TABLE II--Derivative Securities Acquired, Disposed of, or Beneficially Owned
                             (e.g. puts, calls, warrants, options, convertible securities)
- - ------------------------------------------------------------------------------------------------------------------------------

     1.        2.       3.         4.         5.             6.                 7.           8.         9.         10.       11.   
- - ----------  --------  --------  --------  ----------    ------------      --------------   ------  ----------  --------- ------
                                                                           Title and                           Ownership           
                                          Number of     Date Exer-         Amount of                           Form of             
                                          Derivative    cisable and        Underlying              Number of   Deriv-              
                                          Securities    Expiration         Securities      Price   Derivative  ative               
            Conver-             Trans-    Acquired (A)  Date (Month/       (Instr. 3       of      Securities  Security:           
            sion or   Trans-    action    or Disposed    Day/Year)          and 4)         Deriv-  Benefi-     Direct              
            Exercise  action    Code      of (D)        --------------    --------------   ative   cially      (D) or    Nature of 
Title of    Price of  Date      (Instr.   (Instr. 3,    Date                      Amount   Secur-  Owned at    Indirect  Indirect  
Derivative  Deriv-    (Month/    8)        4 and 5)     Exer-    Expir-           or Num-  ity     End of      (I)       Beneficial
Security    ative      Day/     --------  ----------    cis-     ation            ber of   (Instr. Month       (Instr.   Ownership 
(Instr. 3)  Security   Year)    Code  V   (A)   (D)     able     Date     Title   Shares    5)     (Instr. 4)   4)       (Instr. 4)
- - ----------  --------  --------  ---- ---  ----  ----    -------  -----    -----   ------   ------  ----------  --------  -----
<S>         <C>       <C>       <C>  <C>  <C>   <C>     <C>      <C>      <C>     <C>      <C>     <C>         <C>       <C> 

None





</TABLE>



Explanation of Responses:


- - -----------------------------------------------------


- - -----------------------------------------------------


              Deep Discount Advisors, Inc.

          By:   /s/ Ralph W. Bradshaw                        September 10, 1998
              ----------------------------------------     --------------------
               Name:  Ralph W. Bradshaw                              Date
               Title: Secretary

              Ron Olin Investment Management Company

          By:   /s/ Ronald G. Olin                            September 10, 1998
              ----------------------------------------     --------------------
               Name:  Ronald G. Olin                                  Date
               Title: Partner

** Intentional misstatements or omissions of facts constitute Federal Criminal
   Violations.  See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).



                                                                       Page 2




</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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