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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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<SEC-DOCUMENT>0000897485-99-000064.txt : 19990809
<SEC-HEADER>0000897485-99-000064.hdr.sgml : 19990809
ACCESSION NUMBER:		0000897485-99-000064
CONFORMED SUBMISSION TYPE:	SC 13G/A
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		19990806

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			MFC BANCORP LTD
		CENTRAL INDEX KEY:			0000016859
		STANDARD INDUSTRIAL CLASSIFICATION:	SECURITY BROKERS, DEALERS & FLOTATION COMPANIES [6211]
		IRS NUMBER:				131818111
		STATE OF INCORPORATION:			A1
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SC 13G/A
		SEC ACT:		
		SEC FILE NUMBER:	005-54859
		FILM NUMBER:		99679270

	BUSINESS ADDRESS:	
		STREET 1:		6 RUE CHARLES BONNET
		STREET 2:		GENEVA SWITZERLAND
		CITY:			1206
		BUSINESS PHONE:		41228182999

	MAIL ADDRESS:	
		STREET 1:		6 RUE CHARLES BONNET
		STREET 2:		GENEVA
		CITY:			SWITZERLAND 1206

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ARBATAX INTERNATIONAL INC
		DATE OF NAME CHANGE:	19960603

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	NALCAP HOLDINGS INC
		DATE OF NAME CHANGE:	19950725

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			KELLOGG PETER R
		CENTRAL INDEX KEY:			0000897485
		STANDARD INDUSTRIAL CLASSIFICATION:	 []

	FILING VALUES:
		FORM TYPE:		SC 13G/A

	BUSINESS ADDRESS:	
		STREET 1:		C/O SPEAR LEEDS & KELLOGG
		STREET 2:		120 BROADWAY
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10271
		BUSINESS PHONE:		2124337070

	MAIL ADDRESS:	
		STREET 1:		120 BROADWAY
		STREET 2:		C/O SPEAR LEEDS & KELLOGG
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10271
</SEC-HEADER>
<DOCUMENT>
<TYPE>SC 13G/A
<SEQUENCE>1
<TEXT>



CUSIP No. 693286 10 6                             13G
Page 3 of 3 Pages


               SECURITIES AND EXCHANGE COMMISSION
                     Washington, D.C.  20549
                            _________

                          SCHEDULE 13G
                        (Amendment No. 1)
                         (Rule 13d-102)
         INFORMATION TO BE INCLUDED IN STATEMENTS FILED
        PURSUANT TO RULES 13d-1(b)(c), AND (d) AND 13d-2
            UNDER THE SECURITIES EXCHANGE ACT OF 1934

                     MFC Bancorp Ltd. (MXBIF)
                        (Name of Issuer)

                    Common Stock, $0.01 Par Value
                 (Title of Class of Securities)

                           693286 10 6
                         (CUSIP Number)

                         July 29, 1999
     (Date of Event Which Requires Filing of this statement)

     Check the appropriate box to designate the rule pursuant to
     which this Schedule is filed:

      Rule 13d-1(b)
     X Rule 13d-1(c)
      Rule 13d-1(d)
_________________________________________________________________
1.   NAME OF REPORTING PERSON  Peter R. Kellogg
     S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
_________________________________________________________________
2.   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
                                                  (a)
                                                  (b)  X
_________________________________________________________________
3.   SEC USE ONLY
_________________________________________________________________
4.   CITIZENSHIP OR PLACE OF ORGANIZATION              USA
_________________________________________________________________
NUMBER OF      5.   SOLE VOTING POWER NUMBER OF SHARES
SHARES         ______719,300    _________________________________
BENEFICIALLY   6.   SHARED VOTING POWER
OWNED BY       ______600,000_____________________________________
EACH           7.   SOLE DISPOSITIVE POWER
REPORTING      ______719,300_____________________________________
PERSON WITH    8.   SHARED DISPOSITIVE POWER
_____________________600,000_____________________________________
9.   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

_____________________1,319,300___________________________________

10.  CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
     CERTAIN SHARES
_________________________________________________________________
11.  PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9   10.94%
_________________________________________________________________
12.  TYPE OF REPORTING PERSON                               IN
_________________________________________________________________
Item 1.
     Item 1(a): Name of Issuer: MFC Bancorp Ltd. (MXBIF)
     Item 1(b): Address of Issuer's Principal Executive Offices:
                 6 Rue Charles Bonnett
                 Geneva. Switzerland
                 1206
Item 2.
     Item 2(a): Name of Person Filing:  Peter R. Kellogg

     Item 2(b): Address of Principal Business Office or, if None,
          Residence:   120 Broadway, New York, NY 10271


     Item 2(c): Citizenship:  USA
     Item 2(d): Title of Class of Securities:
Common Shares, $0.01 Par Value
     Item 2(e): CUSIP Number:693286 10 6

Item 3.   If this statement is filed pursuant to Rules 13d-1(b),
          or 13d-2(b) or (c), check whether the person filing is
          a:
     (a)  Broker or dealer registered under Section 15 of the
           Exchange Act,
     (b)  Bank as defined in Section 3(a)(6) of the Exchange Act,
     (c)  Insurance company as defined in Section 3(a)(19) of the
           Exchange Act,
     (d)  Investment Company registered under Section 8 of the
           Investment Company Act,
     (e)  An investment adviser in accordance with Rule 13d-
           1(b)(1)(ii)(E),
     (f)  An employee benefit plan or endowment fund in
           accordance with Rule 13d-1(b)(1)(ii)(F),
     (g)  A parent holding Company, or control person in
          accordance with Rule 13d-1(b)(ii)(G),
     (h)  A savings association as defined in Section 3(b) of the
           Federal Deposit Insurance Act.
     (i)   A church plan that is excluded from the definition of an
        investment company under Section 3(c)(14) of the Investment
        Company Act.
     (j)  Group, in accordance with Rule 13d-1(b)(ii)(J)
If this statement is filed pursuant to Rule 13d-1(c), check this
box.
Item 4.   Ownership:
     (a)  Amount Beneficially Owned: 1,319,300
     (b)  Percent of Class: 10.94%
     (c)  Number of shares as to which such person has:
          (i)   Sole power to vote or to direct the vote:719,300
          (ii)  Shared power to vote or direct the vote:  600,000
          (iii) Sole power to dispose or direct the disposition
                Of: 719,300
          (iv)  Shared power to dispose or to direct the
                Disposition of: 600,000
Item 5.Ownership of Five Percent or Less of a Class.N/A
Item 6.Ownership of More Than Five Percent on Behalf of Another
       Person.   N/A
Item 7.Identification and Classification of the Subsidiary Which
       Acquired the Security Being Reported on By the Parent
       Holding Company.    N/A
Item 8.Identification and Classification of Members of the
       Group.    N/A
Item 9.Notice of Dissolution of Group:N/A
Item 10.    Certification.

                            SIGNATURE

     After reasonable inquiry and to the best of my knowledge and
belief, I certify that the information set forth in this
statement is true, complete, and correct.

                                   August 5, 1999
                                   Date

                                   Peter R. Kellogg
                                   Signature

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