.


                  TEXTAINER FINANCIAL SERVICES CORPORATION
                      650 California Street, 16th Floor
                           San Francisco, CA 94108


August 13, 1997


Securities and Exchange Commission
Washington, DC  20549

Gentlemen:

Pursuant to the  requirements  of the  Securities  Exchange Act of 1934,  we are
submitting  herewith for filing on behalf of Textainer Equipment Income Fund IV,
L.P.  (the  "Company")  the  Company's  Quarterly  Report  on Form  10-Q for the
quarterly period ended June 30, 1997.

This filing is being effected by direct  transmission to the Commission's  EDGAR
System.

Sincerely,


Nadine Forsman
Controller




<PAGE>

                               UNITED STATES
                     SECURITIES AND EXCHANGE COMMISSION
                            Washington DC 20549


                                 FORM 10Q


                 QUARTERLY REPORT UNDER SECTION 13 OR 15 (D) OF
                       THE SECURITIES EXCHANGE ACT OF 1934


                 For the quarterly period ended June 30, 1997


                         Commission file number 0-19145


                    TEXTAINER EQUIPMENT INCOME FUND IV, L.P.
            (Exact name of Registrant as specified in its charter)


          California                                             94-3147432
  (State or other jurisdiction                                 (IRS Employer
of incorporation or organization)                            Identification No.)

   650 California Street, 16th Floor
         San Francisco, CA                                          94108
(Address of Principal Executive Offices)                          (ZIP Code)

                                (415) 434-0551
            (Registrant's telephone number, including area code)


Indicate by check mark whether the registrant (1) has filed all reports required
to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during
the  preceding 12 months (or for such  shorter  period that the  registrant  was
required  to file  such  reports),  and  (2) has  been  subject  to such  filing
requirements for the past 90 days.

                                  Yes [X] No [ ]





<PAGE>

                   TEXTAINER EQUIPMENT INCOME FUND IV, L.P.
                      (a California Limited Partnership)

                    Quarterly Report on Form 10Q for the
                        Quarter Ended June 30, 1997

                             TABLE OF CONTENTS


<TABLE>
<CAPTION>

                                                                                                               Page


Item 1.   Financial Statements

<S>                                                                                                           <C>
          Balance Sheets - June 30, 1997 (unaudited) and December 31, 1996.....................................3

          Statements of Earnings for the six and three months
          ended June 30, 1997 and 1996 (unaudited).............................................................4


          Statements of Partners' Capital for the six months
          ended June 30, 1997 and 1996 (unaudited).............................................................5


          Statements of Cash Flows for the six months
          ended June 30, 1997 and 1996 (unaudited).............................................................6


          Notes to Financial Statements (unaudited)............................................................8


Item 2.   Management's Discussion and Analysis of Financial Condition and
          and Results of Operations............................................................................12




</TABLE>
<PAGE>


                       TEXTAINER EQUIPMENT INCOME FUND IV, L.P.
                         (a California Limited Partnership)

                                   Balance Sheets

                         June 30, 1997 and December 31, 1996
                                (Amounts in thousands)
<TABLE>
<CAPTION>

                                                                                1997                    1996
                                                                          -----------------       -----------------
                                                                            (unaudited)
<S>                                                                    <C>                         <C>
Assets
Container rental equipment, net of accumulated
   depreciation of $32,547 (1996:  $29,128)                             $           93,388                  95,626
Cash                                                                                   362                   2,694
Accounts receivable, net of allowance
   for doubtful accounts of $1,454 (1996:  $1,391)                                   5,418                   5,647
Due from affiliates (note 5)                                                           117                       -
Organization costs, net of accumulated
   amortization of $236 (1996:  $220)                                                    -                      16
Prepaid expenses                                                                        21                      46
                                                                          -----------------       -----------------

                                                                        $           99,306                 104,029
                                                                          =================       =================

Liabilities and Partners' Capital
Liabilities:
   Accounts payable                                                     $              768                     629
   Accrued liabilities                                                                 168                       -
   Accrued damage protection plan costs (note 2)                                       392                     520
   Warranty claims (note 3)                                                            568                     599
   Due to affiliates (note 5)                                                           95                     815
   Deferred quarterly distribution                                                     198                     199
   Equipment purchases payable                                                         274                     361
                                                                          -----------------       -----------------
      Total liabilities                                                              2,463                   3,123
                                                                          -----------------       -----------------

Partners' capital:
   General partners                                                                      -                       -
   Limited partners                                                                 96,843                 100,906
                                                                          -----------------       -----------------
      Total partners' capital                                                       96,843                 100,906
                                                                          -----------------       -----------------
Commitments (note 8)
                                                                        $           99,306                 104,029
                                                                          =================       =================

See accompanying notes to financial statements
</TABLE>
<PAGE>


                     TEXTAINER EQUIPMENT INCOME FUND IV, L.P.
                       (a California Limited Partnership)

                             Statements of Earnings

             For the six and three months ended June 30, 1997 and 1996  
        (Dollar amounts in thousands except for unit and per unit amounts)
                                   (unaudited)
<TABLE>
<CAPTION>

                                                  Six months         Three months          Six months         Three months
                                                       Ended                Ended               Ended                Ended
                                               June 30, 1997        June 30, 1997       June 30, 1996        June 30, 1996
                                            -----------------   ------------------   -----------------  -------------------

<S>                                     <C>                     <C>                  <C>                <C>  
Rental income                           $             10,339                 5,166             12,216                5,861
                                            -----------------   ------------------   -----------------  -------------------
Costs and expenses:
   Direct container expenses                           2,211                 1,219              2,000                1,019
   Bad debt expense                                      167                   162                115                  109
   Depreciation and amortization                       3,738                 1,864              3,806                1,913
   Professional fees                                      17                     9                 17                    8
   Management fees to affiliates (note 5)                989                   494              1,151                  560
   General and administrative costs
      to affiliates (note 5)                             707                   348                744                  340
   Other general and administrative costs                110                    54                164                  101
                                            -----------------   ------------------   -----------------  -------------------
                                                       7,939                 4,150              7,997                4,050
                                            -----------------   ------------------   -----------------  -------------------
   Income from operations                              2,400                 1,016              4,219                1,811
                                            -----------------   ------------------   -----------------  -------------------

Other income:
   Interest income                                        39                    15                 47                   18
   Gain on sale of equipment                             156                    95                161                   49
                                            -----------------   ------------------   -----------------  -------------------
                                                         195                   110                208                   67
                                            -----------------   ------------------   -----------------  -------------------
   Net earnings                         $              2,595                 1,126              4,427                1,878
                                            =================   ==================   =================  ===================

Allocation of net earnings (note 5):
   General partners                     $                 68                    34                 76                   38
   Limited partners                                    2,527                 1,092              4,351                1,840
                                            -----------------   ------------------   -----------------  -------------------
                                        $              2,595                 1,126              4,427                1,878
                                            =================   ==================   =================  ===================
Limited partners' per unit share
   of net earnings                      $               0.37                  0.16               0.64                 0.27
                                            =================   ==================   =================  ===================

Limited partners' per unit share
   of distributions                     $               0.95                  0.47               1.05                 0.53
                                            =================   ==================   =================  ===================

Weighted average number of limited
   partnership units outstanding                   6,827,168             6,827,168          6,834,810            6,837,810
                                            =================   ==================   =================  ===================

See accompanying notes to financial statements
</TABLE>
<PAGE>


                    TEXTAINER EQUIPMENT INCOME FUND IV, L.P.
                       (a California Limited Partnership)

                        Statements of Partners' Capital

                 For the six months ended June 30, 1997 and 1996
                            (Amounts in thousands)
                                 (unaudited)
<TABLE>
<CAPTION>

                                                                            Partners' Capital
                                                          ------------------------------------------------------
                                                            General            Limited              Total
                                                          ------------     ----------------    -----------------

<S>                 <C>                                 <C>                     <C>                   <C>    
Balances at January 1, 1996                             $           -           106,926               106,926

Distributions                                                      (76)          (7,180)               (7,256)

Redemptions (note 7)                                                 -              (32)                  (32)

Net earnings                                                        76            4,351                 4,427
                                                          ------------     ----------------    -----------------
Balances at June 30, 1996                               $            -          104,065               104,065
                                                          ============     ================    =================

Balances at January 1, 1997                             $            -          100,906               100,906

Distributions                                                      (68)          (6,486)               (6,554)

Redemptions (note 7)                                                 -             (104)                 (104)

Net earnings                                                        68            2,527                 2,595
                                                          ------------     ----------------    -----------------
Balances at June 30, 1997                               $            -           96,843                96,843
                                                          ============     ================    =================


See accompanying notes to financial statements
</TABLE>
<PAGE>


                   TEXTAINER EQUIPMENT INCOME FUND IV, L.P.
                     (a California Limited Partnership)

                          Statements of Cash Flows

                For the six months ended June 30, 1997 and 1996
                            (Amounts in thousands)
                                   (unaudited)

<TABLE>
<CAPTION>
                                                                                         1997              1996
                                                                                    ----------------  ----------------

<S>                                                                              <C>                   <C>
Cash flows from operating activities:
   Net earnings                                                                   $          2,595             4,427
   Adjustments to reconcile net earnings to
      net cash provided by operating activities:
        Depreciation                                                                         3,722             3,782
        Increase in allowance for doubtful accounts                                             63                19
         Amortization of organization costs                                                     16                24
         Gain on sale of equipment                                                            (156)             (161)
         Changes in assets and liabilities:
            Decrease in accounts receivable                                                    169               673
            Decrease in due to affiliates, net                                                (878)           (1,338)
            Increase in accounts payable and accrued liabilities                               307                92
            (Decrease) increase in accrued damage protection plan costs                       (128)               11
            Decrease in warranty claims                                                        (31)               (5)
            Decrease in prepaid expenses                                                        25                30
                                                                                    ----------------  ----------------
               Net cash provided by operating activities                                     5,704             7,554
                                                                                    ----------------  ----------------

Cash flows from investing activities:
   Proceeds from sale of equipment                                                             764               824
   Equipment purchases                                                                      (2,134)           (1,935)
                                                                                    ----------------  ----------------
              Net cash used in investing activities                                         (1,370)           (1,111)
                                                                                    ----------------  ----------------

Cash flows from financing activities:
    Redemptions of limited partnership units                                                  (104)              (32)
    Distributions to partners                                                               (6,562)           (7,186)
                                                                                    ----------------  ----------------
               Net cash used in financing activities                                        (6,666)           (7,218)
                                                                                    ----------------  ----------------

Net decrease in cash                                                                        (2,332)             (775)
Cash at beginning of period                                                                   2,694             1,293
                                                                                    ----------------  ----------------
Cash at end of period                                                             $            362               518
                                                                                    ================  ================


See accompanying notes to financial statements
</TABLE>
<PAGE>

                   TEXTAINER EQUIPMENT INCOME FUND IV, L.P.
                      (a California Limited Partnership)

                     Statements Of Cash Flows--Continued

                For the six months ended June 30, 1997 and 1996
                           (Amounts in thousands)
                                 (unaudited)


Supplemental Disclosures:

Supplemental schedule of non-cash investing and financing activities:

The following table summarizes the amounts of Equipment purchases, distributions
to  partners  and  proceeds  from sale of  Equipment  which had not been paid or
received as of June 30, 1997 and 1996, and December 31, 1996 and 1995, resulting
in differences in amounts  recorded and amounts of cash disbursed or received by
the  Partnership,  as shown in the  Statements  of Cash Flows for the  six-month
periods ended June 30, 1997 and 1996.
<TABLE>
<CAPTION>

                                                                 June 30       Dec. 31        June 30         Dec. 31
                                                                   1997           1996           1996            1995
                                                            ------------    -----------    -----------    ------------

<S>                                                      <C>                 <C>           <C>             <C>
Equipment purchases included in:
     Due to affiliates..............................      $          17              5            139              53
     Equipment purchases payable....................                274            361              -             349

Distributions to partners included in:
     Due to affiliates..............................                 11             18            187             115
     Deferred quarterly distribution................                198            199            232             234

Proceeds from sale of Equipment included in:
     Accounts receivable............................                  -              -              -               2
     Due from affiliates............................                325            361            249             360
</TABLE>

The following table summarizes the amounts of Equipment purchases, distributions
to partners and proceeds from sale of Equipment  recorded by the Partnership and
the amounts  paid or received as shown in the  Statements  of Cash Flows for the
six-month periods ended June 30, 1997 and 1996.
<TABLE>
<CAPTION>

                                                                                              1997               1996
                                                                                              ----               ----

<S>                                                                                     <C>                     <C>  
Equipment purchases recorded......................................................      $    2,059              1,672
Equipment purchases paid..........................................................           2,134              1,935

Distributions to partners declared................................................           6,554              7,256
Distributions to partners paid....................................................           6,562              7,186

Proceeds from sale of Equipment recorded..........................................             728                711
Proceeds from sale of Equipment received..........................................             764                824


See accompanying notes to financial statements
</TABLE>
<PAGE>

                  TEXTAINER EQUIPMENT INCOME FUND IV, L.P.
                     (a California Limited Partnership)

                       Notes To Financial Statements

                              June 30, 1997
     (Dollar amounts in thousands except for unit and per unit amounts)
                                (Unaudited)

Note 1.   General

      Textainer Equipment Income Fund IV, L.P. (the Partnership) is a California
      Limited  Partnership  formed in 1991.  The  Partnership  owns and leases a
      fleet of intermodal  marine cargo  container  equipment (the Equipment) to
      international shipping lines.

      The accompanying  interim comparative  financial  statements have not been
      audited by an independent  public  accountant.  However,  all  adjustments
      (which  were only  normal and  recurring  adjustments)  which are,  in the
      opinion of management,  necessary to fairly present the financial position
      of the  Partnership  as of June 30, 1997 and December  31,  1996,  and the
      results of its operations, changes in partners' capital and cash flows for
      the six- and  three-month  periods ended June 30, 1997 and 1996, have been
      made.

      The financial  information  presented herein should be read in conjunction
      with  the  audited  financial  statements  and  other  accompanying  Notes
      included in the Partnership's  annual audited  financial  statements as of
      December 31, 1996.

      Certain   estimates  and  assumptions  were  made  by  the   Partnership's
      management that affect the reported  amounts of assets and liabilities and
      disclosures  of  contingent  assets  and  liabilities  at the  date of the
      financial  statements  and the  reported  amounts of revenue and  expenses
      during the  reporting  period.  Actual  results  could  differ  from those
      estimates.

      Certain reclassifications of prior year amounts have been made in order to
      conform with the 1997 financial statement presentation.

Note 2.   Damage Protection Plan

      The Partnership  offers a Damage  Protection Plan (the Plan) to lessees of
      its  Equipment.  Under  the  terms  of the  Plan,  the  Partnership  earns
      additional  revenues on a daily basis and, as a result, has agreed to bear
      certain repair costs. It is the Partnership's  policy to recognize revenue
      when earned and to provide a reserve sufficient to cover the Partnership's
      obligation for estimated  repair costs.  At June 30, 1997 and December 31,
      1996, this reserve was equal to $392 and $520, respectively.

Note 3. Warranty Claims

      During 1996 and 1995, the Partnership  settled warranty claims against two
      equipment  manufacturers.  The  Partnership  is amortizing  the settlement
      amount over the  remaining  estimated  useful life of the  Equipment  (ten
      years),  reducing maintenance and repair costs over that time. At June 30,
      1997 and December  31, 1996,  the  unamortized  portion of the  settlement
      amount was $568 and $599, respectively.

Note 4. Acquisition of Equipment

      During the six-month periods ended June 30, 1997 and 1996, the Partnership
      purchased Equipment with a cost of $2,059 and $1,672, respectively.

Note 5.   Transactions with Affiliates

      Textainer  Financial  Services  Corporation  (TFS) is the managing general
      partner of the Partnership.  TFS is a wholly-owned subsidiary of Textainer
      Capital Corporation (TCC).  Textainer  Equipment  Management Limited (TEM)
      and  Textainer   Limited  (TL)  are  associate  general  partners  of  the
      Partnership.  The  managing  general  partner  and the  associate  general
      partners are collectively referred to as the General Partners. The General
      Partners  also  act in  this  capacity  for  other  limited  partnerships.
      Textainer  Acquisition  Services  Limited  (TAS)  is an  affiliate  of the
      General  Partners which performs  services  relative to the acquisition of
      Equipment  outside the United  States on behalf of the  Partnership.  TCC,
      TEM, TL and TAS are  subsidiaries  of  Textainer  Group  Holdings  Limited
      (TGH). TCC Securities  Corporation  (TSC), a licensed broker and dealer in
      securities  and an  affiliate  of the General  Partners,  was the managing
      sales agent for the offering of Units for sale.

      In accordance with the Partnership  Agreement,  and subject to the special
      allocations  described  therein,  net earnings or  losses  and partnership
      distributions  are generally  allocated 1% to the General Partners and 99%
      to the limited partners with the exception of gross income,  as defined in
      the  Partnership  Agreement.  Gross  income is  allocated  to the  General
      Partners  to the extent that their  partners'  capital  accounts  deficits
      exceed the portion of syndication and offering costs allocated to them. On
      termination of the  Partnership,  the General  Partners shall be allocated
      gross income equal to their allocations of syndication and offering costs.

      As part of the operation of the Partnership,  the Partnership is to pay to
      the General  Partners or TAS an incentive  management  fee, an acquisition
      fee, an equipment  management fee and an equipment  liquidation fee. These
      fees  are  for  various   services   provided  in   connection   with  the
      administration   and  management  of  the  Partnership.   The  Partnership
      capitalized  equipment  acquisition  fees  totaling  $102  and  $98  as  a
      component of Equipment  costs during the six-month  periods ended June 30,
      1997 and 1996,  respectively.  The  Partnership  incurred $273 and $136 of
      incentive  management fees during the six- and  three-month  periods ended
      June 30,  1997 and $302  and  $151 of  incentive  management  fees for the
      comparable  periods in 1996. No equipment  liquidation  fees were incurred
      during either period.

      The  Equipment  of the  Partnership  is  managed  by TEM.  In its  role as
      manager,  TEM has  authority to acquire,  hold,  manage,  lease,  sell and
      dispose of the  Partnership's  Equipment.  Additionally,  TEM  holds,  for
      payment  of direct  operating  expenses,  a reserve  of cash that has been
      collected from Equipment leasing operations;  such cash is included in the
      amount due from affiliates at June 30, 1997 and December 31, 1996.

      Subject to certain reductions, TEM receives a monthly Equipment management
      fee equal to 7% of gross revenues  attributable to operating leases and 2%
      of gross  revenues  attributable  to full  payout net  leases.  These fees
      totaled $716 and $358 for the six- and three-month  periods ended June 30,
      1997  and  $849  and  $409  for  the  comparable   periods  in  1996.  The
      Partnership's  Equipment  is  leased  by TEM to  third  party  lessees  on
      operating master leases,  spot leases and term leases. The majority of the
      Equipment is leased under  operating  master leases with limited terms and
      no purchase option.

      Certain  indirect  general  and  administrative  costs  such as  salaries,
      employee  benefits,  taxes  and  insurance,  are  incurred  in  performing
      administrative  services  necessary to the  operation of the  Partnership.
      These costs are borne by TFS and TEM. Costs  allocated to the  Partnership
      for salaries were $376 and $191 for the six- and three-month periods ended
      June 30, 1997 and $364 and $170 for the comparable  periods in 1996. Other
      general  and  administrative  costs  were  $331  and $157 for the six- and
      three-month  periods  ended  June  30,  1997  and  $380  and  $170 for the
      comparable  periods in 1996. TEM allocates  these costs based on the ratio
      of the Partnership's  interest in managed Equipment to the total Equipment
      managed by TEM during the  period.  Indirect  general  and  administrative
      costs  allocated to the Partnership by TEM were $614 and $298 for the six-
      and  three-month  periods  ended  June 30,  1997 and $655 and $325 for the
      comparable periods in 1996.

      TFS allocates indirect general and administrative costs to the Partnership
      based on the ratio of the  Partnership's  Equipment to the total Equipment
      of all limited  partnerships  managed by TFS. TFS allocated indirect costs
      of $93 and $50 to the  Partnership  for the six- and  three-month  periods
      ended June 30, 1997 and $89 and $15 for the comparable periods in 1996.

      The General  Partners or TAS may acquire  Equipment  in their own name and
      hold  title on a  temporary  basis for the  purpose  of  facilitating  the
      acquisition of such Equipment for the Partnership.  The Equipment may then
      be resold to the  Partnership on an all-cash basis at a price equal to the
      actual cost, as defined in the  Partnership  Agreement.  In addition,  the
      General  Partners  or TAS  are  entitled  to an  acquisition  fee  for any
      Equipment resold to the Partnership.

      At June 30, 1997 and  December 31, 1996,  due from and to  affiliates  are
      comprised of:

                                                                1997      1996
                                                                ----      ----
      Due from affiliates:
        Due from TEM...................................     $    117         -
                                                                 ===       ====

      Due to affiliates:
        Due to TFS.....................................     $     64        50
        Due to TAS.....................................           16         5
        Due to TCC.....................................           14        36
        Due to TEM.....................................            -       723
        Due to TL......................................            1         1
                                                                 ----     -----
                                                            $     95       815
                                                                  ===      ===

      These amounts  receivable  from and payable to affiliates were incurred in
      the ordinary course of business between the Partnership and its affiliates
      and represent  timing  differences  in the accrual and payment of expenses
      and fees  described  above or in the accrual and  remittance of net rental
      revenues from TEM.

      It is the policy of the  Partnership  and the  General  Partners to charge
      interest on intercompany  balances which are outstanding for more than one
      month,  to  the  extent  such  balances  relate  to  loans  for  Equipment
      purchases.  Interest  is charged at a rate not  greater  than the  General
      Partners' or affiliates' own cost of funds.  There was no interest charged
      on intercompany  balances for the six- and three-month  periods ended June
      30, 1997 or 1996.

Note 6.   Rentals Under Operating Leases

      The following is a schedule by year of minimum future  rentals  receivable
      on noncancelable operating leases as of June 30, 1997:

      Year ending June 30:

      1998.............................................       $    1,458
      1999.............................................               53
      2000.............................................                7
                                                              -----------
      Total minimum future rentals receivable..........        $   1,518
                                                                =========

Note 7.   Redemptions

      The following  redemption  offerings were  consummated by the  Partnership
      during the six-month period ended June 30, 1997:
<TABLE>
<CAPTION>

                                                           Units                 Average
                                                          Redeemed           Redemption Price            Amount Paid

<S>                                                       <C>                   <C>                        <C>   
      Balance at December 31, 1996                          10,715                $15.49                     $  166

      Quarter ended:
        March 31, 1997....................                   8,020                $13.03                        104   
        June 30, 1997.....................                       -                     -                          -
                                                         -----------                                          ------
        Partnership to date...............                  18,735                $14.43                     $  270
                                                            ======                                             ====
</TABLE>
                                                                          

      The  redemption  price is fixed by  formula  and varies  depending  on the
      length of time the units have been outstanding.


Note 8. Commitments

      At June 30,  1997,  the  Partnership  has  committed  to purchase  100 new
      containers at an  approximate  total purchase price of $192 which includes
      acquisition  fees of $9. These  commitments were made to TAS which, as the
      contracting  party,  has in turn  committed to purchase this  Equipment on
      behalf of the Partnership.


<PAGE>


ITEM 2 - MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS
         OF OPERATIONS

         (Dollar amounts in thousands except for unit and per unit amounts)

The Financial Statements contain information which will assist in evaluating the
financial  condition of the  Partnership  for the six- and  three-month  periods
ended June 30, 1997 and 1996. Please refer to the Financial Statements and Notes
thereto in connection with the following discussion.

Liquidity and Capital Resources

From April 30,  1992 until April 30, 1994 the  Partnership  was  involved in the
offering of limited partnership  interests to the public. On April 30, 1994, the
Partnership had received a total subscription amount of $136,918.

The Partnership  has set up a program whereby limited  partners may redeem units
for a specified  redemption  value.  The redemption  price is set by formula and
varies  depending on length of time the units are  outstanding.  Up to 2% of the
Partnership's outstanding units may be redeemed each year, although the 2% limit
may be exceeded at the Managing General  Partner's  discretion.  All redemptions
are subject to the Managing  General  Partner's  good faith  determination  that
payment for the redeemed units will not (i) cause the Partnership to be taxed as
a  corporation,  (ii) impair the capital or  operations of the  Partnership,  or
(iii) impair the ability of the Partnership to pay  distributions  in accordance
with its distribution  policy. The Partnership  redeemed 8,020 units for a total
dollar  amount of $104 during the  six-month  period  ended June 30,  1997.  The
partnership has used cash flow from operations to pay for the redeemed units.

The  Partnership  invests  working  capital  and cash flows from  operations  in
short-term,  highly liquid  investments prior to distribution or reinvestment in
additional Equipment.  It is the policy of the Partnership to maintain a minimum
working  capital  reserve in an amount  which is the lesser of (i) 1% of capital
contributions,  or (ii) $100. At June 30, 1997, the  Partnership's  cash of $362
was invested in a market-rate account.

During the six-month  period ended June 30, 1997, the Partnership  declared cash
distributions  to limited  partners  pertaining to the period from December 1996
through  May 1997,  in the amount of $6,486.  These  distributions  represent  a
return of 9.5% of original  capital  (measured on an  annualized  basis) on each
unit. On a GAAP basis $3,959 of these  distributions was a return of capital and
the balance was from net earnings. On a cash basis $5,600 of these distributions
was from operations and the balance was from reserves.

At June 30, 1997, the  Partnership  had committed to purchase 100 new containers
at an approximate  total purchase price of $192 which includes  acquisition fees
of $9. At June 30,  1997 the  Partnership  had  sufficient  cash on hand to meet
these commitments. In the event that the Partnership decides not to purchase the
Equipment,  one of the General  Partners of an affiliate of the General Partners
will acquire the Equipment for its own account.

For the  six-month  period ended June 30,  1997,  the  Partnership  had net cash
provided by operating  activities  of $5,704,  compared with $7,554 for the same
period in 1996.  This  decrease was primarily  attributable  to decreases in net
earnings of $1,832 and accounts  receivable of $169 offset by an decrease in due
to  affiliates  of $878.  The 41% decrease in net  earnings  from the six- month
period ended June 30, 1996 to the same period in 1997,  was  primarily  due to a
decrease in rental  revenues of $1,877,  or 15%. The decrease in rental revenues
between  periods  was due to a decline in  utilization,  rental  rates and fleet
size.  These  decreases  are  discussed  more  fully  below  under  "Results  of
Operations".  Accounts receivable from operations decreased primarily due to the
decrease in rental  income.  Due to  affiliates,  net,  decreased  due to timing
differences  in the accrual  and payment of expenses  and fees or in the accrual
and  remittance of net rental  revenues.  As explained  below under  "Results of
Operations",  demand for leased  containers  has declined  compared to the prior
period, and this decline has affected the Partnership's financial condition.

Net  cash  used in  investing  activities  (the  purchase  and  sale  of  rental
equipment)  for the  six-month  period ended June 30, 1997 was $1,370 and $1,111
for the same period in 1996.  This difference is primarily due to the fact that,
on a cash basis,  the  Partnership  purchased more Equipment in 1997 than in the
same period in 1996. The General Partners believe that these differences reflect
normal fluctuations in equipment sales and purchases.  Moreover, the Partnership
has  used  Equipment  in its  portfolio  and  expects  to  sell  this  Equipment
periodically when it reaches the end of its useful marine life.  Consistent with
its investment objectives and the General Partners' determination that Equipment
can be  profitably  sold or bought  at any  time,  the  Partnership  intends  to
reinvest all or a significant  amount of proceeds from future Equipment sales in
additional  Equipment.  Such additional  Equipment  purchases may not,  however,
equal the number of units sold.

Results of Operations

The  Partnership's  operations,   which  consist  of  rental  income,  Equipment
depreciation,  direct operating expenses,  management fees, and reimbursement of
administrative  expenses,  were  directly  related to the size of the  Equipment
fleet (inventory)  during the six-month periods ended June 30, 1997 and 1996, as
well as certain other factors as discussed  below. The following is a summary of
the Equipment (in units) available for lease during those periods:

                                                               1997        1996

                   Opening inventory.......................   35,931      36,297
                   Closing inventory.......................   36,345      36,188
                   Average.................................   36,138      36,243

The decline in the average  container  fleet from the six-months  ended June 30,
1996 to the  equivalent  period in 1997 was primarily due to the sale of certain
Equipment.  Although, sales proceeds were used to purchase new Equipment,  fewer
units were bought than sold.

Rental  income  and  direct  container  expenses  are  also  affected  by  lease
utilization  percentages  for the  Equipment,  which were 77% and 85% on average
during the  six-month  period  ended June 30,  1997 and 1996,  respectively.  In
addition, rental income is affected by daily rental rates, which have declined.

The  following is a comparative  analysis of the results of  operations  for the
six-month periods ended June 30, 1997 and 1996.

The Partnership's income from operations for the six-month period ended June 30,
1997 was $2,400 on gross rental  income of $10,339,  compared to $4,219 on gross
rental income for $12,216 for the same period in 1996. The largest  component of
total rental income is income from container rentals,  which decreased $1,758 or
16%, from 1996 to 1997. As noted above, income from container rentals is largely
dependent upon three factors: equipment available for lease (average inventory),
average on-hire (utilization) percentage and average daily rental rates. Average
utilization  decreased  9%, and average  daily rental rates  decreased 6%, while
average inventory decreased less than 1%.

Container  utilization  began to decline in late 1995 and that decline persisted
throughout 1996 and into the first quarter of 1997. The General Partners believe
that this  decrease  in demand  for leased  containers  is the result of adverse
changes in the business of its shipping line  customers.  These changes  consist
principally  of: (i) a general  slowdown  in the  growth of world  containerized
cargo  trade,  particularly  in the  Asia-North  America and  Asia-Europe  trade
routes;  (ii)  over-capacity  resulting from the 1996 and 1997 additions of new,
larger  ships to the  existing  container  ship fleet at a rate in excess of the
growth rate in containerized  cargo trade; and (iii) shipping line alliances and
other  operational  consolidations  that have allowed  shipping lines to operate
with fewer containers,  thereby decreasing the demand for leased containers. The
container  ship  over-capacity  in  particular  led  to  lower  shipping  rates,
resulting in shipping lines' need to reduce operating costs. The drive to reduce
costs,  coupled  with  the  availability  of  inexpensive  financing  and  lower
container prices,  encouraged  shipping lines to purchase,  rather than lease, a
greater  number of new containers in 1996 than in previous  years.  All of these
factors  have led to downward  pressure on container  lease rates,  a decline in
utilization  of leased  containers,  and an increase in leasing  incentives  and
other  discounts being granted to shipping lines by container  lessors,  further
eroding Partnership  profitability.  The decline in demand for leased containers
has been accompanied by a drop in the purchase price of new containers.

During the  second  quarter of 1997,  there was a slight  improvement  in market
conditions  as  utilization  improved  and  continues  to improve into the third
quarter of 1997.  Despite  the  improving  utilization,  for the near term,  the
General Partners do not foresee  material  changes in current market  conditions
and caution  that both  utilization  and lease rates  could  decline,  adversely
affecting the Partnership's operating results.

Substantially  all of the  Partnership's  rental income was  generated  from the
leasing of the Equipment under short-term operating leases.

The balance of rental income consists of other  lease-related  items,  primarily
income  from  charges  to the  lessees  for  pick-up  of  containers  from prime
locations less credits  granted to lessees for leasing  containers  from surplus
locations  (location income),  income for handling and returning  containers and
income from  charges to lessees  for a damage  protection  plan  (DPP).  For the
six-month period ended June 30, 1997, the total of these other revenue items was
$893, a decrease of $119 compared to the equivalent  period in 1996. The primary
components  of this net decrease  were  decreases in location  income and DPP of
$136 and $69,  respectively.  The decrease was offset by an increase in handling
income of $80. The decline in location  income is primarily due to lower demand,
which  increased  credits  given to  lessees  for  picking  up units  from  less
desirable  locations.  DPP revenue  decreased due to a decreased number of units
participating in the plan.  Increased  container  movement resulted in increased
handling revenue for the six-months ending June 30, 1997 as compared to the same
period in 1996.

Direct  container  expenses,  excluding bad debt expense,  increased by $211, or
11%, from the six-month  period ended June 30, 1996, to the same period in 1997.
The primary  components of this increase  were  increases in storage  expense of
$379, and repositioning  expense of $170, offset by a decrease in DPP expense of
$281 between  periods.  The increase in storage expense was primarily due to the
decline in utilization.  Repositioning expense increased due a greater number of
units being  transported to higher demand  locations during the six-month period
ending June 30, 1997 than in the comparable  period in 1996. The decrease in DPP
expense was  primarily  due to a decrease in the average per unit  repairs  cost
from June 30, 1996 to the same period in 1997.

Bad debt expense increased from $115 in the six-month period ended June 30, 1996
to $167 in the same  period of 1997.  This  increase  is due to an  increase  in
reserve requirements for specific lessees.

Depreciation  and  amortization  expense  decreased  by  $68,  or 2%,  from  the
six-month period ended June 30, 1996 to the same period in 1997,  reflecting the
decrease in the Partnership's average fleet size between periods.

Management  fees  decreased by $162 or 14%, for the six-month  period ended June
30,  1997  compared  to the  equivalent  period  in 1996  due to a  decrease  in
equipment and incentive  management fees.  Equipment  management fees, which are
based  primarily of gross revenue,  decreased $132 or 16% due to the decrease in
rental  income  and  were  7% of  gross  revenue  for  both  periods.  Incentive
management  fees,  which  are based on the  Partnership's  limited  and  general
partner  distribution  percentage  and partners'  capital,  decreased $29 or 10%
primarily due to a decrease in the limited partners distribution percentage from
10.5% in the  six-month  period  ended June 30, 1996 to 9.5% for the  equivalent
period in 1997.

General and administrative costs to affiliates decreased by 5%, or $37, from the
six-month  period  ended  June 30,  1996 to the same  period  in 1997,  due to a
decline in overhead costs allocated from TEM and TFS during these periods.

Other income provided $195 of additional  income for the six-month  period ended
June 30, 1997,  representing a decrease of $13, or 6% from the equivalent period
in 1996.

Net earnings per limited  partnership  unit decreased to $0.37 for the six-month
period  ended June 30, 1997 from $0.64 for the  six-month  period ended June 30,
1996,  reflecting  the  decrease in net earnings  from $4,351 for the  six-month
period ended June 30, 1996 to $2,527 for the same period in 1997.

The  following is a comparative  analysis of the results of  operations  for the
three-month periods ended June 30, 1997 and 1996.

The Partnership's  income from operations for the three-month  period ended June
30,  1997 was $1,016 on gross  rental  income of $5,166,  compared  to $1,811 on
gross  rental  income  for  $5,861  for the same  period  in 1996.  The  largest
component  of total  rental  income  is income  from  container  rentals,  which
decreased by $759 or 14%, from 1996 to 1997.  This decline was due to a decrease
in average utilization of 8% and a decrease in average daily rental rates of 6%.

The balance of rental income for the three-month  period ended June 30, 1997 was
$475, an increase of $64 compared to the equivalent  period in 1996. The primary
component of this increase was an increase in handling income of $68.  Increased
container  movement resulted in increased  handling revenue for the three-months
ending June 30, 1997 as compared to the same period in 1996.

Direct  container  expenses,  excluding bad debt expense,  increased by $200, or
20%,  from the  three-month  period ended June 30,  1996,  to the same period in
1997.  The primary  components of this  increase  were  increases in storage and
repositioning expenses, which increased due to lower utilization and an increase
in the number of units transported to higher demand locations.

Bad debt expense  increased from $109 in the  three-month  period ended June 30,
1996 to $162 in the same period of 1997.  This increase is due to an increase in
reserve requirements for specific lessees.

Depreciation  and  amortization  expense  decreased  by  $49,  or 3%,  from  the
three-month period ended June 30, 1996 to the same period in 1997.

Management fees decreased by $66 or 12%, for the three-month  periods ended June
30, 1997 from the  equivalent  period in 1996 due to a decrease in equipment and
incentive  management  fees.  Equipment  management  fees  decreased  due to the
decrease in rental income and incentive  management fees decreased primarily due
to a decrease in the limited partners distribution percentage.

General and administrative  costs to affiliates increased by 2%, or $8, from the
three-month  period  ended June 30, 1996 to the same  period in 1997,  due to an
increase in overhead costs allocated from TFS during these periods.

Other income provided $110 of additional income for the three-month period ended
June 30,  1997 over the equivalent period in 1996.  This  represents an increase
of $43, or 64%,that was primarily  due to a $46  increase  in gain from sales of
Equipment.

Net  earnings  per  limited  partnership  unit  decreased  from  $0.27  for  the
three-month period ended June 30, 1996 to $0.16 for the three-month period ended
June 30,  1997.  This decrease reflects the delcline in net earnings from $1,840
for the three-month  period ended June 30, 1996 to $1,092 for the same period in
1997.

Although  substantially  all of the  Partnership's  income  from  operations  is
derived from assets employed in foreign operations, virtually all of this income
is  denominated  in United  States  dollars.  The  Partnership's  customers  are
international  shipping  lines  which  transport  goods on  international  trade
routes.  The  domicile  of the lessee is not  indicative  of where the lessee is
transporting  the  Equipment.  The  Partnership's  business  risk in its foreign
operations lies with the  creditworthiness of the lessees, and the Partnership's
ability to keep the Equipment under lease at profitable  rates,  rather than the
geographic  location  of the  Equipment  or the  domicile  of the  lessees.  The
Equipment is generally  operated on the  international  high seas rather than on
the  domestic  waterways.  The  Equipment is subject to the risk of war or other
political,  economic or social occurrence where the Equipment is used, which may
result in the loss of Equipment,  which,  in turn, may have a material impact on
the  Partnership's  results of operations and financial  condition.  The General
Partners are not aware of any  conditions as of June 30, 1997 which would result
in such risk materializing.

Other risks of the Partnership's  leasing  operations include  competition,  the
cost of  repositioning  Equipment  after  it  comes  off-lease,  the  risk of an
uninsured  loss,  increases in maintenance  expenses or other costs of operating
the  Equipment,  and the effect of world trade,  industry  trends and/or general
business and economic cycles on the Partnership's operations. See "Risk Factors"
in the Partnership's Prospectus, as supplemented,  for additional information on
risks of the Partnership's business.



<PAGE>


                                SIGNATURES


Pursuant  to the  requirements  of the  Securities  Exchange  Act of  1934,  the
Registrant  has duly  caused  this  report  to be  signed  on its  behalf by the
undersigned, thereunto duly authorized.


                                     TEXTAINER EQUIPMENT INCOME FUND IV, L.P.
                                     (A California Limited Partnership)

                                     By Textainer Financial Services Corporation
                                     The Managing General Partner



                                     By _______________________________
                                          John R. Rhodes
                                          Executive Vice President


Date:  August 14, 1997

Pursuant to the requirements of the Securities Exchange Act of 1934, this report
has been signed below by the following persons on behalf of Textainer  Financial
Services  Corporation,  the Managing  General Partner of the Registrant,  in the
capacities and on the dates indicated:

<TABLE>
<CAPTION>

Signature                                Title                                          Date




<S>                                      <C>                                           <C> 
________________________                 Executive Vice President,                      August 14, 1997
John R. Rhodes                           (Principal Financial and
                                         Accounting Officer) and
                                         Secretary


________________________                 President (Principal Executive                 August 14, 1997
James E. Hoelter                         Officer) and Director

</TABLE>
<PAGE>


                                  SIGNATURES


Pursuant  to the  requirements  of the  Securities  Exchange  Act of  1934,  the
Registrant  has duly  caused  this  report  to be  signed  on its  behalf by the
undersigned, thereunto duly authorized.


                                     TEXTAINER EQUIPMENT INCOME FUND IV, L.P.
                                     (A California Limited Partnership)

                                     By Textainer Financial Services Corporation
                                     The Managing General Partner



                                     By /s/John R. Rhodes
                                        John R. Rhodes
                                        Executive Vice President


Date:  August 14, 1997


Pursuant to the requirements of the Securities Exchange Act of 1934, this report
has been signed below by the following persons on behalf of Textainer  Financial
Services  Corporation,  the Managing  General Partner of the Registrant,  in the
capacities and on the dates indicated:


<TABLE>
<CAPTION>
Signature                                   Title                                             Date



<S>                                      <C>                                            <C> 
/s/John R. Rhodes                        Executive Vice President,                      August 14, 1997
-------------------------
John R. Rhodes                           (Principal Financial and
                                         Accounting Officer) and
                                         Secretary

/s/James E. Hoelter                      President (Principal Executive                 August 14, 1997
-----------------------
James E. Hoelter                         Officer) and Director

</TABLE>