Form: 3/A

Initial statement of beneficial ownership of securities

February 10, 1998

3/A: Initial statement of beneficial ownership of securities

Published on February 10, 1998



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

FORM 3

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

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


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1. Name and Address of Reporting Person*

Winmill Bassett Starr
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(Last) (First) (Middle)

11 Hanover Square
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(Street)

New York NY 10005
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(City) (State) (Zip)


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2. Date of Event Requiring Statement (Month/Day/Year)


2/7/97
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3. IRS or Social Security Number of Reporting Person (Voluntary)


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4. Issuer Name and Ticker or Trading Symbol

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

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


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

2/97
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7. Individual or Joint/Group Filing (Check applicable line)

[ x ] Form Filed by One Reporting Person

[ ] Form Filed by More than One Reporting Person

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Table I -- Non-Derivative Securities Beneficially Owned
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3. Ownership Form:
2. Amount of Securities Direct (D) or
1. Title of Security Beneficially Owned Indirect (I) 4. Nature of Indirect Beneficial Ownership
(Instr. 4) (Instr. 4) (Instr. 5) (Instr.5)
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Bull & Bear Global Income Fund, Inc. 101 *(explained below) D N/A
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* If the Form is filed by more than one Reporting Person, see Instruction
5(b)(v)

Reminder: Report on a separate line for each class of securities beneficially
owned directly or indirectly.


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FORM 3 (continued)

Table II -- Derivative Securities Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)

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5. Owner-
3. Title and Amount of Securities ship
Underlying Derivative Security Form of
2. Date Exercisable (Instr. 4) Derivative
and Expiration Date --------------------------------- 4. Conver- Security:
(Month/Day/Year) Amount sion or Direct 6. Nature of
---------------------- or Exercise (D) or Indirect
Date Expira- Number Price of Indirect Beneficial
1. Title of Derivative Exer- tion of Derivative (I) Ownership
Security (Instr. 4) cisable Date Title Shares Security (Instr.5) (Instr. 5)
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N/A N/A N/A N/A N/A N/A N/A N/A
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Explanation of Responses:

* Group and its subsidiaries, of which Bassett S. Winmill may be deemed a
controlling person, also own in the aggregate 101.00 Fund shares. Mr.
Winmill disclaims beneficial ownership of such shares.


/s/ Thomas B. Winmill on behalf of Bassett S.
Winmill by Power of Attorney dated 12/11/97 2/10/98
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**Signature of Reporting Person Date

** Intentional misstatements or omissions of facts constitute Federal Criminal
Violations.

See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).

Note: File three copies of this Form, one of which must be manually signed.
If space provided is insufficient. See Instruction 6 for procedure.

Alternatively, this form is permitted to be submitted to the
Commission in electronic format at the option of the reporting person
pursuant to Rule 101(b)(4) of Regulation S-T.


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