Pines International Resorts Inc – ‘SC 13D’ on 7/22/98 re: Grand Central Silver Mines Inc

As of:  Wednesday, 7/22/98   ·   Accession #:  757563-98-8   ·   File #:  5-41116

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General Statement of Beneficial Ownership   —   Schedule 13D
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: SC 13D      General Statement of Beneficial Ownership              5     16K 

Document Table of Contents

SC 13D
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SECURITIES AND EXCHANGE COMMISSION                
Washington, D.C.  20549               

SCHEDULE 13D                

INFORMATION TO BE INCLUDED IN STATEMENTS FILED                
PURSUANT TO RULE 13d-1(a) AND AMENDMENTS THERETO                
FILED PURSUANT TO RULE 13d-2(a)               
(Amendment No. ___)*                

Grand Central Silver Mines, Inc.                
=================================================================               
(Name of Issuer)                

Common Stock, no par value per share                
=================================================================               
(Title of Class of Securities)                

6795                
=================================================================               
(CUSIP Number)                

Waylon E. McMullen                
P.O. Box 795517               
Dallas, Texas  75379                
(972) 239-2290                
=================================================================               
(Name, Address and Telephone Number of Person               
Authorized to Receive Notices and Communications)               

March 30, 1998                
=================================================================               
(Date of Event Which Requires Filing                
of this Statement)                

If the filing person has previously filed a statement on              
Schedule 13G to report the acquisition which is the subject of                  
this Schedule 13D, and is filing this schedule because of Rule                  
13d-1(e)(f) or (g), check the following box.  [ ]                               

Note:  Schedules filed in paper format shall include a                
signed original and five copies of the schedule, including all                  
exhibits. See Rule 13d-7(b) for other parties to whom copies are                
to be sent.                                                                     

(Continued on following pages)                

SC 13D
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*The remainder of this cover page should be filled out for a          
reporting person's initial filing on this form with respect to                  
the subject class of securities, and for any subsequent amendment               
containing information which would alter disclosures provided in                
a prior cover page.                                                             

The information required on the remainder of this cover page          
shall not be deemed to be "filed" for the purpose of Section 18                 
of the Securities Exchange Act of 1934, as amended (the "Exchange               
Act") or otherwise subject to the liabilities of that section of                
the Exchange Act but shall be subject to all other provisions of                
the Exchange Act (however, see the Notes).                                      

SC 13D
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CUSIP No. 6785              Grand Central Silver Mines, Inc.                    

(1)  Name of Reporting Person    Pines Internatonal Resorts, Inc.               
IRS Identification No. (entities only)                                

(2)  Check the Appropriate Box if a                    (a)  [   ]               
Member of a Group*                                (b)  [ X ]          

(3)  SEC Use Only                                                               

(4)  Source of Funds*                                   WC and OO               

(5)  Check Box if Disclosure of Legal                         [ ]               
Proceedings is Required Pursuant                                      
to Items 2(d) or 2(e)                                                 

(6)  Citizenship or Place of Organization                Delaware               

Number of Shares    (7)  Sole Voting                 900,000          
Power               
Beneficially                                                    
          (8)  Shared Voting                     0
Owned by Each         Power                                     

Reporting Person    (9)  Sole Dispositive            900,000          
Power               
with:                                                           
          (10) Shared Dispositive                0
Power               

(11) Aggregate Amount Beneficially Owned                  900,000               
by Each Reporting Person                                              

(12) Check Box if the Aggregate Amount in                     [ ]               
Row (11) Excludes Certain Shares*                                     

(13) Percent of Class Represented by                       14.85%               
Amount in Row (11)                                                    

(14) Type of Reporting Person*                                 CO               

*SEE INSTRUCTIONS BEFORE FILLING OUT                                            

SC 13D
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CUSIP No. 6785              Graand Central Silver Mines, Inc.                   

SCHEDULE 13D                
------------                
Filed Pursuant to Rule 13d-1                

Item 1.   Security and Issuer                                                   

This Schedule 13D relates to shares of Common Stock, $.01             
par value ("the shares"), of Grand Central Silver Mines, Inc.                   
("the Company"). The principal executive offices of the Company                 
are located at 1010 Ironwood Drive, Suite 105, Coeur d'Alene,                   
Idaho 83814.                                                                    

Item 2.   Identity and Background                                               

(a)  This Schedule 13D is being filed by Pines International          
Resorts, Inc., a Delaware Corporation ("Pines").            
(b)  950 Third Avenue, Suite 2500, New York, New York 10022.          

(c)  The present principal business of Pines is a holding             
company.                                                    

(d)  During the past five years none of the executive                 
officers, directors, or controlling persons of Pines        
has been convicted in a criminal proceeding.                

(e)  During the past five years none of the executive                 
officers, directors, or controlling persons of Pines        
has been a party to a civil proceeding or subject to a      
judgment, decree or final order enjoining future            
violations of, or prohibiting or mandating activities       
subject to Federal or State securities laws or finding      
any violation with respect to such laws.                    

Item 3.   Source and Amount of Funds or Other Consideration                     

The aggregate amount of funds required by Pines to purchase           
the 900,000 shares owned by it was $1,100,000. The funds                        
consisted of cash and notes. The cash came from working capital.                

Item 4.   Purpose of Transaction                                                

Pines purchased the Shares for purposes of investment and             
depending upon its evaluation of the Company's business and                     
prospects , future developments, market conditions and other                    
factors, Pines may from time to time, purchase additional shares                
or sell or cause to be sold, all or a portion of these Shares for               
which Pines exercises voting or dispositive power, either in the                
open market or privately negotiated transactions or otherwise.                  

Subject to the foregoing, Pines has no plans or proposals             
which relate to Item 4 (a) through (j) of Schedule 13D.                         

Item 5.   Interest in Securities of the Issuer                                  

(a)  Pines is the direct beneficial owner of 900,000 Shares,          
representing approximately 14.85% of the Shares             
outstanding.                                                

(b)  Pines has sole power to vote and sole power to dispose           
of the Shares.                                              

(c)  Not Applicable.                                                  

(d)  Not Applicable                                                   

Item 6.   Contracts, Arrangements, Understandings or                            
Relationships with Respect to Securities of the Issuer      

There are none.                                             

SC 13D
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CUSIP No. 6785            Grand Central Silver Mines, Inc.                      

Item 7.   Material to Be Filed as Exhibits                                      

None.                                                       

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.                                        

June 30, 1998                 PINES INTERNATIONAL RESORTS, INC.                 

        By:  /s/  WAYLON E. MCMULLEN
                ------------------------------
         Waylon E. McMullen, President

Dates Referenced Herein   and   Documents Incorporated by Reference

				Referenced-On Page
This ‘SC 13D’ Filing		Date		First		Last			Other Filings
Filed on:		7/22/98
		6/30/98		5					10-Q
		3/30/98		1
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