SEC Info - Basic Capital Management Inc, et al. - ‘SC 13D/A’ on 7/19/00 re: American Realty Trust Inc

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Basic Capital Management Inc, et al. – ‘SC 13D/A’ on 7/19/00 re: American Realty Trust Inc

On: Wednesday, 7/19/00, at 11:55am ET · Accession #: 950134-0-5783 · File #: 5-18436

  As Of                Filer                Filing    For·On·As Docs:Size              Issuer               Agent

 7/19/00  Basic Capital Management Inc      SC 13D/A               1:34K  American Realty Trust Inc         RR Donnelley
          Basic Capital Management Inc
          National Operating LP
          The Gene E Phillips Childrens Trust
          Transcontinental Realty Investors Inc

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

Document/Exhibit                   Description                      Pages   Size 

 1: SC 13D/A    Amendment No. 41 to Schedule 13D                      15     70K

Document Table of Contents

Page	(sequential)	\|	(alphabetic)	Top
			Alternative Formats (Word, et al.) Contracts, Arrangements, Understandings or Relationships With Respect to Securities of the Issuer Identity and Background Interest in Securities of the Issuer Security and Issuer Source and Amount of Funds or Other Consideration
1	1st Page - Filing Submission
6	Item 1. Security and Issuer
"	Item 2. Identity and Background
8	Item 3. Source and Amount of Funds or Other Consideration
"	Item 5. Interest in Securities of the Issuer
10	Item 6. Contracts, Arrangements, Understandings or Relationships With Respect to Securities of the Issuer

SC 13D/A 1st Page of 15 TOC ↑Top Previous Next ↓Bottom Just 1st
 
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

SCHEDULE 13D

Under the Securities Exchange Act of 1934 

(Amendment No. 41)

AMERICAN REALTY TRUST, INC. 
------------------------------------------------------------------------------- 
(Name of Issuer)

Common Stock, $0.01 par value 
------------------------------------------------------------------------------- 
(Title of Class of Securities)

029177-40-9 
------------------------------------------------------------------------------- 
(CUSIP Number)

Robert A. Waldman 
10670 N. Central Expressway, Suite 600
Dallas, Texas 75231 
(214) 692-4758
------------------------------------------------------------------------------- 
 (Name, Address and Telephone Number of Person Authorized to Receive Notices and
Communications) 

June 15, 2000 
------------------------------------------------------------------------------- 
(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 Rules 13d-1(b)(3) or (4), check the following box [ ].      

NOTE: Six copies of this statement, including all exhibits, should be filed     
with the Commission. See Rule 13d-1(a) for other parties to whom copies are to  
be sent.                                                                        

*The remainder of this cover page shall be filled out for a reporting persons'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 ("Act") or otherwise subject to the liabilities of that section of  
the Act but shall be subject to all other provisions of the Act (however, see   
the Notes).                                                                     

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CUSIP No. 029177-40-9                                                           

                                                        [Enlarge/Download Table]
------------------------------------------------------------------------------------------------------------------- 
                                                                                                                    
     1)  Names of Reporting Persons I.R.S. Identification Nos. of Above Persons (entities only)                     

               Basic Capital Management, Inc., FEI No. 75-2261065                                                   
------------------------------------------------------------------------------------------------------------------- 
     2)  Check the Appropriate Box if a Member of a Group (See Instructions)                                        
         (a)                                                                                                        
         (b)                                                                                                        
------------------------------------------------------------------------------------------------------------------- 

     3)  SEC Use Only                                                                                               
------------------------------------------------------------------------------------------------------------------- 
                                                 WC                                                                 
     4)  Source of Funds (See Instructions)                                                                         
------------------------------------------------------------------------------------------------------------------- 

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

------------------------------------------------------------------------------------------------------------------- 
                                                 Nevada                                                             
     6)  Citizenship or Place of Organization                                                                       
------------------------------------------------------------------------------------------------------------------- 
                                                           5,897,567                                                
                  7)       Sole Voting Power                                                                        
 Number of        ------------------------------------------------------------------------------------------------- 
Shares Bene-                                                  -0-                                                   
 ficially         8)       Shared Voting Power                                                                      
 Owned by         ------------------------------------------------------------------------------------------------- 
Each Report-                                               5,897,567                                                
ing Person        9)       Sole Dispositive Power                                                                   
With              ------------------------------------------------------------------------------------------------- 
                                                              -0-                                                   
                  10)      Shared Dispositive Power                                                                 
------------------------------------------------------------------------------------------------------------------- 
                                                                              5,897,567                             
     11) Aggregate Amount Beneficially Owned by Each Reporting Person                                               
------------------------------------------------------------------------------------------------------------------- 

     12) Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions)                       

------------------------------------------------------------------------------------------------------------------- 
                                                                   55.8%                                            
     13) Percent of Class Represented by Amount in Row (11)                                                         
------------------------------------------------------------------------------------------------------------------- 
                                                          CO                                                        
     14) Type of Reporting Person (See Instructions)                                                                

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CUSIP No. 029177-40-9                                                           

                                                        [Enlarge/Download Table]
--------------------------------------------------------------------------------------------------------------------
                                                                                                                    
     1)  Names of Reporting Persons I.R.S. Identification Nos. of Above Persons (entities only)                     

                                  National Operating, L.P., FEI No. 75-2163170                                      
--------------------------------------------------------------------------------------------------------------------
     2)  Check the Appropriate Box if a Member of a Group (See Instructions)                                        
         (a)                                                                                                        
         (b)                                                                                                        
--------------------------------------------------------------------------------------------------------------------
     3)  SEC Use Only                                                                                               
--------------------------------------------------------------------------------------------------------------------
                                                    WC                                                              
     4)  Source of Funds (See Instructions)                                                                         
--------------------------------------------------------------------------------------------------------------------
     5)  Check if Disclosure of Legal Proceedings is Required Pursuant to Items 2(d) or 2(e)                        
--------------------------------------------------------------------------------------------------------------------
                                                 Delaware                                                           
     6)  Citizenship or Place of Organization                                                                       
--------------------------------------------------------------------------------------------------------------------
                                                              195,732                                               
                  7)       Sole Voting Power                                                                        
 Number of        --------------------------------------------------------------------------------------------------
Shares Bene-                                                  -0-                                                   
 ficially         8)       Shared Voting Power                                                                      
 Owned by         --------------------------------------------------------------------------------------------------
Each Report-                                                  195,732                                               
ing Person        9)       Sole Dispositive Power                                                                   
With              --------------------------------------------------------------------------------------------------
                                                              -0-                                                   
                  10)      Shared Dispositive Power                                                                 
--------------------------------------------------------------------------------------------------------------------
                                                                                        195,732                     
     11) Aggregate Amount Beneficially Owned by Each Reporting Person                                               
--------------------------------------------------------------------------------------------------------------------
     12) Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions)                       
--------------------------------------------------------------------------------------------------------------------
                                                                      11.9%                                         
     13) Percent of Class Represented by Amount in Row (11)                                                         
--------------------------------------------------------------------------------------------------------------------
                                                              PN                                                    
     14) Type of Reporting Person (See Instructions)                                                                

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CUSIP No. 029177-40-9                                                           

                                                        [Enlarge/Download Table]
                                                                                                                    
--------------------------------------------------------------------------------------------------------------------
     1)  Names of Reporting Persons I.R.S. Identification Nos. of Above Persons (entities only)                     

                            The Gene E. Phillips Children's Trust, I.D. No. 13-6599759                              
--------------------------------------------------------------------------------------------------------------------
     2)  Check the Appropriate Box if a Member of a Group (See Instructions)                                        
         (a)                                                                                                        
         (b)                                                                                                        
------------------------------------------------------------------------------------------------------------------- 

     3)  SEC Use Only                                                                                               
------------------------------------------------------------------------------------------------------------------- 

     4)  Source of Funds (See Instructions)                                                                         
------------------------------------------------------------------------------------------------------------------- 

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

------------------------------------------------------------------------------------------------------------------- 
                                                        Texas                                                       
     6)  Citizenship or Place of Organization                                                                       
------------------------------------------------------------------------------------------------------------------- 
                                                              30,332                                                
                  7)       Sole Voting Power                                                                        
 Number of        ------------------------------------------------------------------------------------------------- 
Shares Bene-                                                  -0-                                                   
 ficially         8)       Shared Voting Power                                                                      
 Owned by         ------------------------------------------------------------------------------------------------- 
Each Report-                                                  30,332                                                
ing Person        9)       Sole Dispositive Power                                                                   
With              ------------------------------------------------------------------------------------------------- 
                                                              -0-                                                   
                  10)      Shared Dispositive Power                                                                 
------------------------------------------------------------------------------------------------------------------- 
                                                                                        30,332                      
     11) Aggregate Amount Beneficially Owned by Each Reporting Person                                               
------------------------------------------------------------------------------------------------------------------- 

     12) Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions)                       

------------------------------------------------------------------------------------------------------------------- 
                                                                       0.3%                                         
     13) Percent of Class Represented by Amount in Row (11)                                                         
------------------------------------------------------------------------------------------------------------------- 
                                                              OO                                                    
     14) Type of Reporting Person (See Instructions)                                                                

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CUSIP No. 029177-40-9                                                           

                                                        [Enlarge/Download Table]
                                                                                                                    
------------------------------------------------------------------------------------------------------------------- 
     1)  Names of Reporting Persons I.R.S. Identification Nos. of Above Persons (entities only)                     

                            Transcontinental Realty Investors, Inc., FEI No. 94-656582                              

------------------------------------------------------------------------------------------------------------------- 
     2)  Check the Appropriate Box if a Member of a Group (See Instructions)                                        
         (a)                                                                                                        
         (b)                                                                                                        
------------------------------------------------------------------------------------------------------------------- 
     3)  SEC Use Only                                                                                               
------------------------------------------------------------------------------------------------------------------- 
     4)  Source of Funds (See Instructions)                                                                         
------------------------------------------------------------------------------------------------------------------- 
     5)  Check if Disclosure of Legal Proceedings is Required Pursuant to Items 2(d) or 2(e)                        

------------------------------------------------------------------------------------------------------------------- 
     6)  Citizenship or Place of Organization                 Nevada                                                
------------------------------------------------------------------------------------------------------------------- 
                                                              820,849                                               
                  7)       Sole Voting Power                                                                        
 Number of        ------------------------------------------------------------------------------------------------- 
Shares Bene-                                                  -0-                                                   
 ficially         8)       Shared Voting Power                                                                      
 Owned by         ------------------------------------------------------------------------------------------------- 
Each Report-                                                  820,849                                               
ing Person        9)       Sole Dispositive Power                                                                   
With              ------------------------------------------------------------------------------------------------- 
                                                              -0-                                                   
                  10)      Shared Dispositive Power                                                                 
                  ------------------------------------------------------------------------------------------------- 
                                                                                        820,849                     
     11) Aggregate Amount Beneficially Owned by Each Reporting Person                                               
------------------------------------------------------------------------------------------------------------------- 
     12) Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions)                       

------------------------------------------------------------------------------------------------------------------- 
                                                                       7.8%                                         
     13) Percent of Class Represented by Amount in Row (11)                                                         

------------------------------------------------------------------------------------------------------------------- 
                                                              CO                                                    
     14) Type of Reporting Person (See Instructions)                                                                


SC 13D/A 6th Page of 15 TOC 1st Previous Next ↓Bottom Just 6th

ITEM 1. SECURITY AND ISSUER                                                     

      This Amendment to Statement on Schedule 13D relates to the shares of
Common Stock, par value $0.01 per share (the "Shares") of AMERICAN REALTY       
TRUST, INC., a Georgia corporation (the "Company" or the "Issuer") and further  
amends the original Statement on Schedule 13D as amended by Amendment Nos. 1    
through 40 thereof (the "Amended Statement") filed by and on behalf of the      
"Reporting Persons" described below. The principal executive offices of the     
Company are located at 10670 N. Central Expressway, Suite 600, Dallas, Texas    
75231. The CUSIP number of the Shares is 029177-40-9.                           

        This Amendment No. 41 to Schedule 13D is being filed due to a decrease
by more than 1% in the percentage ownership by BCM of Shares during the period  
from June 15, 2000 to June 30, 2000. The decrease was due to margin sales by    
brokers of Shares pledged in margin accounts by BCM.                            

ITEM 2. IDENTITY AND BACKGROUND                                                 

       Item 2 of the Amended Statement is hereby further amended as follows:

      This Amendment is being filed on behalf of Basic Capital Management,
Inc., a Nevada corporation ("BCM"), National Operating, L.P., a Delaware        
limited partnership ("NOLP"), The Gene E. Phillips Children's Trust, a trust    
formed under the laws of the state of Texas (the "GEP Trust"), and              
Transcontinental Realty Investors, Inc., a Nevada corporation ("TCI"), each of  
which has their principal executive offices located at 10670 N. Central         
Expressway, Suite 600, Dallas, Texas 75231. All of BCM, NOLP, GEP Trust and TCI 
are collectively referred to as the "Reporting Persons." The Reporting Persons  
may be deemed to constitute a "person" within the meaning of Section 13(d) of   
the Securities Exchange Act of 1934, as amended, because BCM is beneficially    
owned by a trust established for the benefit of Gene E. Phillips' children and  
the executive officers of TCI are also executive officers of BCM. Mr. Phillips' 
son, Ryan T. Phillips, serves as a director of BCM and is a beneficiary of the  
GEP Trust. NRLP Management Corp. ("NMC"), a wholly-owned subsidiary of the      
Company, is the general partner of NOLP. The executive officers of NMC are also 
executive officers of BCM and TCI.                                              

      I. BCM is a corporation organized and existing under the laws of the
State of Nevada. BCM's principal business activity is the provision of advisory 
services for real estate and investment trusts and other real estate entities.  
The name, business address and capacity with BCM of each of the executive       
officers or directors of BCM are set forth on Schedule 1 attached hereto. Each  
of the individuals listed on Schedule 1 is a citizen of the United              

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SC 13D/A 7th Page of 15 TOC 1st Previous Next ↓Bottom Just 7th

States of America. BCM is owned by Realty Advisors, Inc., a Nevada corporation. 
Realty Advisors, Inc. is owned by a trust established for the benefit of the    
children of Gene E. Phillips.                                                   

        II. NOLP is a Delaware limited partnership, engaged in the business of
investing in real estate and real estate related assets. NOLP has no officers   
or directors. The general of NOLP is NMC. The name, business address and        
capacity with NMC of each of the executive officers or directors of NMC are set 
forth on Schedule 2 attached hereto. Each of the individuals listed on Schedule 
2 is a citizen of the United States of America.                                 

     III. The GEP Trust is a trust formed under the laws of the state of
Texas for the benefit of the children of Mr. Gene E. Phillips. The trustee of   
the GEP Trust is Donald W. Phillips, brother of Gene E. Phillips.               

        Mr. Gene E. Phillips' business address is 10670 N. Central Expressway,
Suite 600, Dallas, Texas 75231. Mr. Gene E. Phillips' present principal         
occupation is Chief Executive Officer and President of Syntek West, Inc. Mr.    
Gene E. Phillips is a citizen of the United States of America.                  

Mr. Donald W. Phillips' business address is 10670 N. Central  
Expressway, Suite 515, Dallas, Texas 75231. Mr. Donald W. Phillips' present     
principal occupation is President and owner of Big D Oil Field Equipment Sales. 
Mr. Donald W. Phillips is a citizen of the United States of America.            

    IV. TCI is a real estate investment company organized and existing
under the laws of the state of Nevada. TCI's principal business activity is     
investment in real estate. The name, business address and capacity with TCI of  
each of the executive officers or directors of TCI are set forth on Schedule 3  
attached hereto. Each of the individuals listed on Schedule 3 is a citizen of   
the United States of America.                                                   

       Individuals whose names are not listed on Schedules 1, 2 or 3 who may
have previously been referred to as executive officers or directors of BCM, NMC 
or TCI, respectively in Amendment No. 40 to Schedule 13D no longer occupy those 
positions, each having resigned or been removed prior to the date of this       
Amendment.                                                                      

      (d) During the last five years, none of BCM, NOLP, GEP Trust or TCI,
nor any of their respective executive officers or directors has been convicted  
in a criminal proceeding (excluding traffic violations and/or similar           
misdemeanors).                                                                  

      (e) During the last five years, none of BCM, NOLP, GEP Trust or TCI,
nor any of their respective executive officers or directors has been a party to 
any civil proceeding of a judicial or                                           

-2- 

SC 13D/A 8th Page of 15 TOC 1st Previous Next ↓Bottom Just 8th

administrative body of competent jurisdiction which resulted in 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 consideration paid to purchase the Shares described in Item 5
below is from working capital of each of the Reporting Persons and no part of   
the purchase price is represented by funds or other consideration borrowed or   
otherwise obtained for the purpose of acquiring, holding, trading or voting the 
Shares. Each of the Reporting Persons have in the past and may in the future,   
utilized margin accounts with various brokerage firms which accounts may, from  
time to time, have debit balances and include certain of the Shares. Since      
other securities are held in such accounts, it may be impracticable at any time 
to determine the amounts, if any, borrowed with respect to the Shares and       
interest costs vary with applicable costs and account balances. Certain of the  
matters reported under Item 5 below are dispositions caused by sales from       
margin accounts by brokerage firms pursuant to the terms of those account       
agreements according to such brokerage firms.                                   

ITEM 5. INTEREST IN SECURITIES OF THE ISSUER                                    

       Item 5 of the Amended Statement is hereby further amended as follows:

       (a) According to the latest information available from the Issuer, as
of April 28, 2000, the total number of issued and outstanding Shares was        
10,563,720 Shares. As of June 30, 2000, the following Shares were owned         
directly and beneficially by the Reporting Persons set forth below:             

                                                                [Download Table]

  Name           No. of Shares Owned Directly           Approximate % Class
  ----           ----------------------------           -------------------
                                                                           
  BCM                     5,897,567                             55.8%      
  NOLP                      195,732                              1.9%      
GEP Trust                    30,332                              0.3%      
   TCI                      820,849                              7.8%      
                          ---------                             -----      
 Totals:                  6,944,480                             65.7%      
                          =========                             =====      

       Pursuant to Rule 13d-3 under the Securities Exchange Act of 1934 (the
"Exchange Act"), each of the directors of BCM may be deemed to beneficially own 
the number of Shares owned by BCM described above; each of the directors of NMC 
as the general partner of NOLP may be deemed to beneficially own the Shares held
directly by NOLP; each of the directors of TCI may be deemed to beneficially own
the Shares held directly by TCI; Ryan T. Phillips as a beneficiary of the GEP   
Trust may be deemed to beneficially own the Shares held directly by the GEP     
Trust. Those individuals and                                                    

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SC 13D/A 9th Page of 15 TOC 1st Previous Next ↓Bottom Just 9th

the number of Shares deemed beneficially owned pursuant to Rule 13d-3, and the  
approximate percent of the class, as well as the relationship, are set forth in 
the following table:                                                            

                                                                [Download Table]

                                              No. of Shares             % of  
Name of Director            Entity          Beneficially Owned          Class 
----------------            ------          ------------------          ----- 
                                                                              
Ryan T. Phillips              BCM                5,927,899               56.1%
Mickey Ned Phillips           BCM                5,897,567               55.8%
Ted P. Stokely                TCI                  820,849                7.8%
R. Douglas Leonhard           TCI                  820,849                7.8%
Murray Shaw                   TCI                  820,849                7.8%
Martin L. White               TCI                  820,849                7.8%
Edward G. Zampa               TCI                  820,849                7.8%
Karl L. Blaha                 NMC                  195,732                1.9%
Collene C. Currie             NMC                  195,732                1.9%
Richard D. Morgan             NMC                  195,732                1.9%
                                                   -------               ---- 
         Total Units beneficially                6,944,480               65.7%
         owned by Reporting Persons              =========               =====
         and individuals listed                                               
         above:                                                               

     (b) Each of the directors of BCM share voting and dispositive power
over the 5,897,567 Shares held by BCM. Each of the directors of BCM have shared 
voting and dispotive power over the 820,849 Shares held by TCI. NMC as the      
general partner of NOLP has the sole voting and dispository power over the      
195,732 Shares held by NOLP; each of the directors of NMC have shared voting and
dispository power over the 195,732 Shares held by NOLP. The Trustee of the GEP  
Trust has complete voting and dispository power over the 30,332 Shares held by  
the GEP Trust.                                                                  

     (c) During the 60 calendar days ended June 30, 2000, except for the
transactions that are described below, the Reporting Persons and their          
respective executive officers and directors did not engage in any transaction   
in the Shares or any other equity interests derivative thereof. The following   
table sets forth the acquisition and disposition transactions in the Shares     
that have been effectuated during the 60 days ended June 30, 2000:              

                                                                [Download Table]

                       No. of                                   
                       Shares                                   
Reporting             Acquired   Price per                      
 Person      Date    (Disposed)    Share    Type of Transaction 
 ------      ----    ----------    -----    ------------------- 
                                                                
BCM        05/08/00       1,000  $16.225    Open Market Purchase
BCM        05/12/00         700  $16.00     Open Market Purchase
BCM        05/16/00         100  $16.125    Open Market Purchase
BCM        05/17/00      30,000  $16.4375   Open Market Purchase
BCM        05/22/00         900  $16.00     Open Market Purchase
BCM        05/31/00       8,000  $15.50     Open Market Purchase

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                                                                [Download Table]

                       No. of                                  
                       Shares                                  
Reporting             Acquired   Price per                     
  Person     Date    (Disposed)    Share    Type of Transaction
---------    ----    ----------  ---------  -------------------
                                                               
   BCM     06/15/00       (500)    $ 8.50            *         
   BCM     06/15/00     (7,000)    $ 7.06            *         
   BCM     06/15/00    (21,900)    $ 7.00            *         
   BCM     06/15/00    (37,000)    $ 8.40            *         
   BCM     06/15/00    (35,000)    $ 7.56            *         
   BCM     06/27/00    (78,500)    $ 5.75            *         
   BCM     06/27/00     (5,000)    $ 5.38            *         
   BCM     06/27/00     (5,000)    $ 4.94            *         
   BCM     06/27/00     (5,000)    $ 5.69            *         
   BCM     06/27/00     (7,500)    $ 5.50            *         
   BCM     06/27/00     (2,000)    $ 5.81            *         
   BCM     06/27/00       (500)    $ 5.56            *         
   BCM     06/27/00     (2,000)    $ 5.38            *         
   BCM     06/30/00       (200)    $ 6.06            *         
   BCM     06/30/00     (1,800)    $ 6.00            *         

----------                                                                      
    * Under varying arrangements during the period from June 15, 2000,
through June 30, 2000, certain brokerage firms where Shares were pledged by the 
BCM allegedly foreclosed upon such arrangements and sold for the account of BCM 
certain Shares pledged as indicated by the dispositions set forth above.        

       (d) No person other than the Reporting Person or its respective Board
of Directors or Trustees is known to have the right to receive or the power to  
direct receipt of dividends from, or the proceeds of sale of, the Shares held   
by each of BCM, NOLP, GEP Trust and TCI, subject to the matters set forth in    
Item 6 below.                                                                   

(e)      Not applicable.                                      

ITEM 6.  CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS               
WITH RESPECT TO SECURITIES OF THE ISSUER                                        

      Item 6 of the Amended Statement is hereby further amended to read as
follows:                                                                        

     BCM has pledged 177,000 Shares to Foothill Capital, pledged 810,000
Shares to Preferred Bank, and pledged 260,000 Shares to United Pacific Bank     
pursuant to loan agreements with such lenders.                                  

      All 820,849 Shares owned by TCI may be deemed to be "collateral" for
borrowings pursuant to margin or other account arrangements with Morgan Stanley 
Dean Witter relating to a brokerage account of TCI, which is a stock margin     
account maintained by TCI with such broker pursuant to customary brokerage      
account arrangements. Such standard arrangements involve margin securities of up
to a specified percentage of the market value of                                

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the Shares, as well as other securities in such account, and bear interest at   
varying rates and contain only standard default and similar provisions, the     
operation of which should not give any other person immediate voting power or   
investment power over the Shares.                                               

All 30,332 Shares owned by the GEP Trust may be deemed to be  
"collateral" for borrowings pursuant to margin or other account arrangements    
with Morgan Stanley Dean Witter relating to a brokerage account of the GEP      
Trust, which is a stock margin account maintained by the GEP Trust with such    
broker pursuant to customary brokerage account arrangements. Such standard      
arrangements involve margin securities of up to a specified percentage of the   
market value of the Shares, as well as other securities in such account, and    
bear interest at varying rates and contain only standard default and similar    
provisions, the operation of which should not give any other person immediate   
voting power or investment power over the Shares.                               

       All 195,732 Shares owned by NOLP may be deemed to be "collateral" for
borrowings pursuant to margin or other account arrangements with Morgan Stanley 
Dean Witter relating to a brokerage account of NOLP which is a stock margin     
account maintained by NOLP with such broker pursuant to customary brokerage     
account arrangements. Such standard arrangements involve margin securities of   
up to a specified percentage of the market value of the Shares, as well as      
other securities in such account, and bear interest at varying rates and        
contain only standard default and similar provisions, the operation of which    
should not give any other person immediate voting power or investment power     
over the Shares.                                                                

        Except as set forth in the preceding paragraphs, the Reporting Persons
do not have any contracts, arrangements, understandings or relationships (legal 
or otherwise) with any person with respect to any securities of the Issuer,     
including, but not limited to, transfer or voting of any of the securities,     
finder's fees, joint ventures, loan or option arrangements, puts or calls,      
guaranties of profits, division of profits or losses, or the giving or          
withholding of proxies.                                                         

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SIGNATURES

        After reasonable inquiry and to the best of their respective knowledge
and belief, the undersigned certify that the information set forth in this      
Amendment No. 41 to Statement on Schedule 13D is true, complete and correct.    

Dated: July 18, 2000.                                                           

                                BASIC CAPITAL MANAGEMENT, INC.

                        By:  /s/ Karl L. Blaha
                                            ----------------------------------
                                  Karl L. Blaha, President

                                      NATIONAL OPERATING, L.P., acting by,
                                    through and under its sole general
                                partner, NRLP MANAGEMENT CORP.

                        By:  /s/ Karl L. Blaha
                                            ----------------------------------
                                  Karl L. Blaha, President

                                   GENE E. PHILLIPS CHILDREN'S TRUST

                             By:  /s/ Donald W. Phillips
                                            ----------------------------------
                                     Donald W. Phillips, Trustee

                                    TRANSCONTINENTAL REALTY INVESTORS,
      INC.

                        By:  /s/ Karl L. Blaha
                                            ----------------------------------
                                  Karl L. Blaha, President

-7- 

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SCHEDULE 1  

EXECUTIVE OFFICERS AND DIRECTORS OF 

BASIC CAPITAL MANAGEMENT, INC.

                                                                [Download Table]

NAME AND CAPACITY WITH                               PRESENT BUSINESS IN    
    BASIC CAPITAL            BUSINESS ADDRESS        WHICH EMPLOYMENT IS    
   MANAGEMENT, INC.                                       CONDUCTED         

                                                                            
Ryan T. Phillips,         10670 N. Central Expwy.   President, Signature    
Director                  Sixth Floor               Asset Management, Inc.  
                          Dallas, Texas 75231                               

Mickey Ned Phillips,      264 Rolling Hills Circle  President, Ned Phillips 
Director                  Gaffney, SC 29340         Construction Company    

Karl L. Blaha, President  10670 N. Central Expwy.   President, Basic Capital
                          Suite 300                 Management, Inc.        
                          Dallas, Texas 75231                               

Thomas A. Holland,        10670 N. Central Expwy.   Executive Vice          
Executive Vice President  Suite 600                 President, Basic Capital
and Chief Financial       Dallas, Texas 75231       Management, Inc.        
Officer                                                                     

Clifford C. Towns, Jr.,   10670 N. Central Expwy.   Executive Vice          
Executive Vice President  Suite 600                 President, Basic Capital
- Finance                 Dallas, Texas 75231       Management, Inc.        

Bruce A. Endendyk,        10670 N. Central Expwy.   Executive Vice          
Executive Vice President  Suite 600                 President, Basic Capital
                          Dallas, Texas 75231       Management, Inc.        

David W. Starowicz,       10670 N. Central Expwy.   Executive Vice          
Executive Vice President  Suite 600                 President, Basic Capital
- Commercial Asset        Dallas, Texas 75231       Management, Inc.        
Management                                                                  

Steven K. Johnson,        10670 N. Central Expwy.   Executive Vice          
Executive Vice President  Suite 600                 President, Basic Capital
- Residential Asset       Dallas, Texas 75231       Management, Inc.        
Management                                                                  

Cooper B. Stuart,         10670 N. Central Expwy.   Executive Vice          
Executive Vice President  Suite 600                 President, Basic Capital
                          Dallas, Texas 75231       Management, Inc.        

Robert A. Waldman,        10670 N. Central Expwy.   Senior Vice President,  
Senior Vice President,    Suite 600                 General Counsel and     
Secretary and General     Dallas, Texas 75231       Secretary, Basic Capital
Counsel                                             Management, Inc.        

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SCHEDULE 2

EXECUTIVE OFFICERS AND DIRECTORS OF 

NRLP MANAGEMENT CORP., SOLE GENERAL PARTNER OF

NATIONAL OPERATING, L.P.

                                                                [Download Table]

NAME AND CAPACITY WITH                              PRESENT BUSINESS IN WHICH
 NRLP MANAGEMENT Corp.        BUSINESS ADDRESS       EMPLOYMENT IS CONDUCTED 
                                                                             
Karl L. Blaha, Director     10670 N. Central Expwy. President, Basic Capital 
and President               Suite 300               Management, Inc.         
                            Dallas, Texas 75231                              

Collene C. Currie,          6617 Ridgeview Circle   Assistant Director,      
Director                    Dallas, Texas 75240     Cambridge Technology     
                                                    Partners (CATP:NASDAQ)   

Richard D. Morgan,          5910 N. Central Expwy.  President, Tara Group,   
Director                    Dallas, Texas 75206     Inc.                     

Thomas A. Holland,          10670 N. Central Expwy. Executive Vice President,
Executive Vice President    Suite 600               Basic Capital Management,
and Chief Financial         Dallas, Texas 75231     Inc.                     
Officer                                                                      

Bruce A. Endendyk,          10670 N. Central Expwy. Executive Vice President,
Executive Vice President    Suite 600               Basic Capital Management,
                            Dallas, Texas 75231     Inc.                     

David W. Starowicz,         10670 N. Central Expwy. Executive Vice President,
Executive Vice President -  Suite 600               Basic Capital Management,
Commercial Asset            Dallas, Texas 75231     Inc.                     
Management                                                                   

Steven K. Johnson,          10670 N. Central Expwy. Executive Vice President,
Executive Vice President -  Suite 600               Basic Capital Management,
Residential Asset           Dallas, Texas 75231     Inc.                     
Management                                                                   

Robert A. Waldman, Senior   10670 N. Central        Senior Vice President,   
Vice President, Secretary   Expressway              General Counsel and      
and General Counsel         Suite 600               Secretary, Basic Capital 
                            Dallas, Texas 75231     Management, Inc.         

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SCHEDULE 3

EXECUTIVE OFFICERS AND DIRECTORS OF 

TRANSCONTINENTAL REALTY INVESTORS, INC. 

                                                        [Enlarge/Download Table]

 NAME AND CAPACITY WITH                                                                
TRANSCONTINENTAL REALTY                                  PRESENT BUSINESS IN WHICH     
    INVESTORS, INC.           BUSINESS ADDRESS            EMPLOYMENT IS CONDUCTED      
                                                                                       
Ted P. Stokely, Chairman    10670 N. Central Expressway  General Manager, Minority     
of the Board of Directors   Suite 515                    and Elderly Housing           
                            Dallas, Texas 75231          Assistance Foundation, Inc.   

R. Douglas Leonhard,        13230 Hunters Lark           Retired.                      
Director                    San Antonio, Texas 78230                                   

Murray Shaw, Director       3713 Ebony Hollow Pass       Chairman of the Board of      
                            Austin, Texas 78745          Stephen F. Austin             
                                                         University                    

Matin L. White, Director    8051 Coach Drive             Chairman of the Board and     
                            Oakland, California 94605    Chief Executive Officer of    
                                                         Community Based               
                                                         Developers, Inc.              

Edward G. Zampa, Director   No. Fifty Osgood Place       General Partner, Edward G.    
                            Suite 110                    Zampa & Company               
                            San Francisco, California                                  
                            94133                                                      

Karl L. Blaha, President    10670 N. Central Expressway  President, Basic Capital      
                            Suite 600                    Management, Inc.              
                            Dallas, Texas 75231                                        

Thomas A. Holland,          10670 N. Central Expressway  Executive Vice President,     
Executive Vice President    Suite 600                    Basic Capital Management, Inc.
and Chief Financial         Dallas, Texas 75231                                        
Officer                                                                                

Bruce A. Endendyk,          10670 N. Central Expressway  Executive Vice President,     
Executive Vice President    Suite 600                    Basic Capital Management, Inc.
                            Dallas, Texas 75231                                        

David W. Starowicz,         10670 N. Central Expressway  Executive Vice President,     
Executive Vice President -  Suite 600                    Basic Capital Management, Inc.
Commercial Asset            Dallas, Texas 75231                                        
Management                                                                             

Steven K. Johnson,          10670 N. Central Expressway  Executive Vice President,     
Executive Vice President -  Suite 600                    Basic Capital Management, Inc.
Residential Asset           Dallas, Texas 75231                                        
Management                                                                             

Robert A. Waldman, Senior   10670 N. Central Expressway  Senior Vice President,        
Vice President, Secretary   Suite 600                    General Counsel and           
and General Counsel         Dallas, Texas 75231          Secretary, Basic Capital      
                                                         Management, Inc.

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Dates Referenced Herein and Documents Incorporated by Reference

		Referenced-On Page
This ‘SC 13D/A’ Filing	Date	First	Last	Other Filings

Filed on:	7/19/00
	7/18/00	12		SC 13D/A
	6/30/00	6	10	10-Q, 4
	6/15/00	1	10
	4/28/00	8
				List all Filings

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Filing Submission 0000950134-00-005783 – Alternative Formats (Word / Rich Text, HTML, Plain Text, et al.)

Basic Capital Management Inc, et al. – ‘SC 13D/A’ on 7/19/00 re: American Realty Trust Inc

On: Wednesday, 7/19/00, at 11:55am ET · Accession #: 950134-0-5783 · File #: 5-18436

Previous ‘SC 13D’: ‘SC 13D/A’ on 6/28/00 · Next: ‘SC 13D/A’ on 8/22/00 · Latest: ‘SC 13D/A’ on 11/19/08

Amendment to General Statement of Beneficial Ownership — Schedule 13DFiling Table of Contents

Document Table of Contents

Dates Referenced Herein and Documents Incorporated by Reference

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