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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
 MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen
 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 IV3zQei/LvWp3x45F+2SYj39P15voKvYNVybhiK94vuYIfJ3no77C+xoAPfeR9M7
 4GuWzUepbIjV/ltnhrOfoQ==

<SEC-DOCUMENT>/in/edgar/work/20000710/0000950134-00-005581/0000950134-00-005581.txt : 20000712
<SEC-HEADER>0000950134-00-005581.hdr.sgml : 20000712
ACCESSION NUMBER:		0000950134-00-005581
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20000630
FILED AS OF DATE:		20000710

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			TRANSCONTINENTAL REALTY INVESTORS INC
		CENTRAL INDEX KEY:			0000733590
		STANDARD INDUSTRIAL CLASSIFICATION:	 [6798
]		IRS NUMBER:				946565852
		STATE OF INCORPORATION:			NV
		FISCAL YEAR END:			1231
</COMPANY-DATA>

		FILING VALUES:
			FORM TYPE:		4
			SEC ACT:		
			SEC FILE NUMBER:	001-09240
			FILM NUMBER:		670455
</FILING-VALUES>

			BUSINESS ADDRESS:	
				STREET 1:		10670 N CENTRAL EXPRWY STE 300
				CITY:			DALLAS
				STATE:			TX
				ZIP:			75231
				BUSINESS PHONE:		2146924700
</BUSINESS-ADDRESS>

				MAIL ADDRESS:	
					STREET 1:		10670 N CENTRAL EXPRWY
					STREET 2:		SUITE 300
					CITY:			DALLAS
					STATE:			TX
					ZIP:			75231
</MAIL-ADDRESS>

					FORMER COMPANY:	
						FORMER CONFORMED NAME:	JOHNSTOWN CONSOLIDATED REALTY TRUST /CA/
						DATE OF NAME CHANGE:	19890815
</FORMER-COMPANY>

						FORMER COMPANY:	
							FORMER CONFORMED NAME:	JOHNSTOWN CONSOLIDATED REALTY TRUST
							DATE OF NAME CHANGE:	19861005
</FORMER-COMPANY>
</SUBJECT-COMPANY>
<REPORTING-OWNER>

							COMPANY DATA:	
								COMPANY CONFORMED NAME:			DOUGLAS RICHARD W
								CENTRAL INDEX KEY:			0001118479
								STANDARD INDUSTRIAL CLASSIFICATION:	 [
]<RELATIONSHIP>OTHER
</COMPANY-DATA>

								FILING VALUES:
									FORM TYPE:		4
</FILING-VALUES>

									BUSINESS ADDRESS:	
										STREET 1:		10670 N CENTRAL EXPRESSWAY
										CITY:			DALLAS
										STATE:			TX
										ZIP:			75231
										BUSINESS PHONE:		2146924700
</BUSINESS-ADDRESS>

										MAIL ADDRESS:	
											STREET 1:		10670 N CENTRAL EXPRESSWAY
											CITY:			DALLAS
											STATE:			TX
											ZIP:			75231
</MAIL-ADDRESS>
</REPORTING-OWNER>
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>e4.txt
<DESCRIPTION>FORM 4 - RICHARD W. DOUGLAS
<TEXT>

<PAGE>   1
- ------                                              --------------------------
FORM 4                                                     OMB APPROVAL
- ------                                              --------------------------
[X] CHECK THIS BOX IF NO                            OMB Number:      3235-0287
    LONGER SUBJECT TO                               Expires: December 31, 2001
    SECTION 16. FORM 4                              Estimated average burden
    OR FORM 5 OBLIGATIONS                           hours per response.... 0.5
    MAY CONTINUE. SEE                               --------------------------
    INSTRUCTION 1(b).

                UNITED STATES 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

<TABLE>
<S>                             <C>            <C>                        <C>                <C>          <C>            <C>
(Print or Type Responses)
- ------------------------------------------------------------------------------------------------------------------------------------
 1. Name and Address of Reporting Person*      2. Issuer Name and Ticker or Trading Symbol   6. Relationship of Reporting Person(s)
Richard W. Douglas                                Transcontinetal Realty Investors, Inc.        to Issuer (Check all applicable)
- ---------------------------------------------  ----------------------------------------------       Director         10% Owner
  (Last)          (First)          (Middle)    3. IRS Identification      4. Statement for      ----              ---
                                                  Number of Reporting        Month/Year             Officer (give    Other (Specify
10670 N. Central Expressway                       Person, if an entity     June 2000            ----        title ---       below)
- ---------------------------------------------     (voluntary)             -------------------               below)
                 (Street)                                                 5. If Amendment,        Resigned as a Director effective
Dallas,            Texas             75231                                   Date of Original          6/15/00
- ---------------------------------------------     --------------------       (Month/Year)         --------------------------------
  (City)           (State)           (Zip)                                                   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 I -- NON-DERIVATIVE SECURITIES ACQUIRED, DISPOSED OF, OR BENEFICIALLY OWNED
- ------------------------------------------------------------------------------------------------------------------------------------
 1. Title of Security         2. Trans-   3. Transac-  4. Securities Acquired (A)  5.  Amount of Se-    6. Owner-      7. Nature
  (Instr. 3)                     action      tion         or Disposed of (D)           curities Benefi-    ship           of In-
                                 Date        Code         (Instr. 3, 4 and 5)          cially Owned at     Form:          direct
                                             (Instr. 8)                                End of Month        Direct         Benefi-
                                (Month/                                                (Instr. 3 and 4)    (D) or         cial
                                 Day/        ------------------------------------                          Indirect       Owner-
                                 Year)       Code    V     Amount  (A) or   Price                          (I)            ship
                                                                   (D)                                     (Instr. 4)     (Instr. 4)
- ------------------------------------------------------------------------------------------------------------------------------------

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Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.                   (Over)
* If the form is filed by more than one reporting person, see Instruction 4(b)(v).                                   SEC 1474 (3-99)

                                                        POTENTIAL PERSONS WHO ARE TO RESPOND TO THE COLLECTIONS OF INFORMATION
                                                        CONTAINED IN THIS FORM ARE NOT REQUIRED TO RESPOND UNLESS THE FORM DISPLAYS
                                                        A CURRENTLY VALID OMB CONTROL NUMBER.
</TABLE>
<PAGE>   2
<TABLE>
<CAPTION>
FORM 4 (CONTINUED)        TABLE II -- DERIVATIVE SECURITIES ACQUIRED, DISPOSED OF, OR BENEFICIALLY OWNED
                                  (e.g., PUTS, CALLS, WARRANTS, OPTIONS, CONVERTIBLE SECURITIES)

<S>                       <C>          <C>        <C>         <C>              <C>             <C>                   <C>
- ------------------------------------------------------------------------------------------------------------------------------------
1. Title of Derivative    2. Conver-   3. Trans-  4. Trans-   5. Number of     6. Date Exer-   7. Title and Amount   8. Price
   Security                  sion or      action     action      Derivative       cisable and     of Underlying         of
   (Instr. 3)                Exercise     Date       Code        Securities Ac-   Expiration      Securities            Deriv-
                             Price of     (Month/    (Instr. 8)  quired (A) or    Date            (Instr. 3 and 4)      ative
                             Deriv-       Day/                   Disposed of (D)  (Month/Day/                           Secur-
                             ative        Year)                  (Instr. 3, 4,    Year)                                 ity
                             Security                            and 5)                                                 (Instr. 5)
                                                                               -----------------------------------
                                                                               Date    Expira-            Amount or
                                                    -------------------------- Exer-   tion       Title   Number of
                                                    Code  V     (A)     (D)    cisable Date               Shares
- ------------------------------------------------------------------------------------------------------------------------------------

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<CAPTION>
<C>                    <C>                         <C>
9. Number of           10. Ownership               11. Nature of
   Derivative              Form of                     Indirect
   Securities              Derivative                  Beneficial
   Beneficially            Security:                   Ownership
   Owned at End            Direct (D)                  (Instr. 4)
   of Month                or Indirect (I)
   (Instr. 4)              (Instr. 4)

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

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

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

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

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

- -------------------------------------------------------------------------------------------------------
Explanation of Responses:


                                                                                             /s/ KAREN M. PEDERSON           7/5/00
**Intentional misstatements or omissions of facts constitute Federal Criminal Violations.    ------------------------------- ------
  See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).                                                  **Signature of Reporting Person   Date
                                                                                            Karen M. Pederson, Assistant Secretary
                                                                                              on behalf of Transcontinental Realty
                                                                                              Investors, Inc.

Note: File three copies of this Form, one of which must be manually signed.                                                  Page 2
      If space is insufficient, see Instruction 6 for procedure.                                                     SEC 1474 (3-99)

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.

</TABLE>

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