SECURITIES AND EXCHANGE COMMISSION

                            WASHINGTON, D.C. 20549
                                  FORM 10-QSB


  [X] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
      SECURITIES EXCHANGE ACT OF 1934 For the quarterly period
      ended June 30, 1998

  [ ] TRANSITION  REPORT  PURSUANT TO SECTION 13 OR 15(d) OF
      THE SECURITIES EXCHANGE ACT OF 1934 for the transition
      period from  __________________to __________________

           Commission File Number 33-15596-D


                    Knickerbocker Capital Corporation
        (Exact Name of Registrant as specified in its Charter)



  Colorado                               54-1059107
  (State or other Jurisdiction of     I.R.S. Employer Identi-
  Incorporation or Organization       fication No.)

  45110 Club Drive, Suite B, Indian Wells, California
             92210
  (Address of Principal Executive Offices)
          (Zip Code)

  (760) 360-1042
  (Registrant's Telephone Number, including Area Code)




Indicate by check mark whether the Registrant (i) 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
(of for such  shorter  period  that the Registrant  was required to file such
reports) and (ii) has
been subject to such filing requirements for the past 90 days.

                               Yes              No   X

Indicate  the  number of  shares  outstanding  of each of the  issuer's
classes of Common Stock, as
of the latest  practicable date.

  Common Stock, $.001 par value                  261,200,000
  ----------------------------------------------------------
  Title of Class Number of Shares outstanding
  at June 30, 1998

  No Exhibits included.


  General

The condensed consolidated financial statements of Knickerbocker Capital
Corporation included
herein, have been prepared without audit pursuant to the rules and regulations
of the Securities
and Exchange Commission. Although certain information normally included in
financial
statements prepared in accordance with generally accepted accounting
principles has been
condensed or omitted, Knickerbocker Capital Corporation's management believes
that the
disclosures are adequate to make the information presented not misleading.
 The condensed
financial statements for the three months and the six months ended June 30,
1998 should be read
in conjunction with the financial statements and notes thereto included in
this report and
Knickerbocker Capital Corporation's annual report on Form 10-KSB for the
fiscal year ended
December 31, 1997, and Form 10-QSB for the period ending  March 31, 1998..

The condensed financial statements included herein reflect all normal
recurring adjustments that,
in the opinion of management, are necessary for a fair presentation. The
result for the interim
period are not necessarily indicative of trends or of results to be expected
for a full year.


  Item 2.  MANAGEMENT'S DISCUSSION AND ANALYSIS OF RESULTS
  OF OPERATIONS AND FINANCIAL CONDITION

  The Company has not commenced operations and has no
  working capital.















                                           KNICKERBOCKER CAPITAL CORPORATION
                                                             BALANCE SHEET
                                                                        June
30    December 31,
                                                                        1998
       1997
ASSETS:

Total Assets                                                  $           -
$             -



LIABILITIES AND STOCKHOLDERS' DEFICIT:

Current Liabilities:                                                     -
             -

      Total Liabilities:                                     $            -
$             -

Stockholders' Equity:

Common Stock, 500,000,000 shares
 authorized, $ .001 par value,
 261,200,000 shares issued and
 outstanding                                           261,200     261,200
Preferred stock, 50,000,000 shares
 authorized, $ .01 par value, no shares
 issued and outstanding                                             -
      -
Additional Paid-In Capital                               90,845       90,845
Accumulated Deficit                                     (352,045)  (352,045)

Toal Stockholders' Deficit                                        -
   -

      Total Liabilities and
       Stockholders' Deficit                          $              -   $
     -







The accompanying notes are an integral part of these fincial statements.

                                            KNICKERBOCKER CAPITAL CORPORATION
                                                     STATEMENTS OF OPERATIONS
                                                               For the 3
Months ended       And for 6 Months ended

June 30,                            June 30,

1998          1997                   1998           1997
Operating Expenses:

Total Operating Expense                                 $           -
$          -         $           -    $           -

Net (Loss) Income from Operations                $           -          $
   -         $           -    $           -



Weighted average number of
 shares outstanding                                   261,200,000
261,200,000   261,200,000 261,200,00

Net Loss per Share                                         $          -
    $         -         $           -     $          -























The accompanying notes are an integral part of these financial statements.



                                          KNICKERBOCKER CAPITAL CORPORATION
                                                  STATEMENTS OF CASH FLOWS
                                                           For the 3 Months
Ended     For the 6 Months Ended

                                                                      March
31,                               June 30,
                                                                 1998
1997                   1998            1997
Cash Flows From
 Operating Activities:                            $         -     $
-             $           -       $           -
Net Profit (Loss)                                              -
    -                          -                    -
Adjustments to Reconcile
 Net Loss to Net Cash Used
 for Operations:
Net Cash Provide (Used) by
 Operating Activities                                       -
 -                          -                    -

Increase (Decrease) in Cash
Cash and Cash Equivalents,
 Beginning of Period                                       -
-                           -                   -
Cash and Cash Equivalents,
 End of Period                                     $          -     $
  -             $            -      $           -
























The accompanying notes are an integral part of these financial statements.

                     KNICKERBOCKER CAPITAL CORPORATION
                     STATEMENT OF STOCKHOLDERS' EQUITY
                  For the Years End December 31, 1995-1997
                                  and
                 For the Period Ending June 30, 1998


                                  Additional
                                  Paid-In       Accumulated
         Shares    Common Stock   Capital       Deficit      Totals

Balance
 12/31/95    261,200,000  $    261,200 $ 90,845      $(352,045)  $      -

Balance
 12/31/96    261,200,000  $    261,200 $ 90,845      $(352,045)  $      -

Balance
 12/31/97    261,200,000  $    261,200 $ 90,845      $(352,045)  $      -

Balance
  3/31/98    261,200,000    $    261,200 $ 90.845     $(352,045)  $      -

Balance
 6/30/98     261,200,000    $    261,200 $ 90,845    $ (352,045) $       -
























KNICKERBOCKER CAPITAL CORPORATION
(A Development Stage Company)
NOTES TO FINANCIAL STATEMENTS
June30, 1998


NOTE 1 - ORGANIZATION:

Knickerbocker Capital Corporation, (the "Company") commenced operations
with certain nominal operations on November 6, 1986 upon establishing a
bank account and subsequently incorporating in the State of Colorado on
February 24, 1987 for the purpose of acquiring an interest in unspecified
business opportunities through merger or acquisitions.

NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES:

Public Stock Offering:

On April 7, 1988 the Company completed a public stock offering and raised
$300,000.  Stock offering costs were $38,430 and were offset against the
proceeds.

Reverse acquisition and Subsequent Business Discontinuance:

On June 10, 1988, Knickerbocker Capital Corporation entered into and
agreement to acquire a concrete formula and rights to produce and sell the
product from Promotional Video Productions, Inc. (PVP), a Nevada
corporation.  PVP had been incorporated April 27, 1987 to acquire the
aforementioned product and rights.  As a result of the agreement, the
Company issued common stock for 100% of the common stock of PVP.  The
transaction has been treated as a reverse acquisition in that PVP acquired
the net assets of the Company.  The Company issued 29,775,000 shares in
connection with the reverse acquisition by PVP, the cost of acquisition and
issuance of shares were offset against the pre-capitalization equity and
resulted in a discount to the common stock.  The concrete business was not
a profitable business and was discontinued in 1990.  There have been no
significant operations since that date.

Fixed Assets:

Fixed assets were depreciated on a straight line basis commencing in the
month the asset was purchased and placed in service.  The fixed assets were
sold at a loss in 1989, and the resulting charge was to operations and is
included in accumulated deficit.

NOTE 3 - GOING CONCERN AND INCIDENTAL COSTS:

The Company has had no significant business activity.  The Company incurred
significant losses from operations until 1990 and certain other incidental
costs and expenses in 1995 and 1994.  The Company has a significant
accumulated deficit and no assets.  These factors indicate that the Company
may be unable to continue in existence.  The financial statements do not
include any adjustments relating to the amounts and classification of
liabilities that might be necessary in the event the Company cannot
continue in existence.

Incidental costs to maintain the legal registration of the Company in the
State of Colorado and with the Securities Exchange Commission have been
paid or assumed by the current officers and directors.


                     PART II.  OTHER INFORMATION

Item 1.  LEGAL PROCEEDINGS
                 None

Item 2.  CHANGES IN SECURITIES
                 None

Item 3.  DEFAULTS UPON SENIOR SECURITIES
                 None

Item 4.  SUBMISSION OF MATTER TO A VOTE OF SECURITY HOLDERS
                 None

Item 5.  OTHER INFORMATION
                 None

Item 6.  EXHIBITS AND REPORTS ON FORM 8-K
                 None














                                                    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.


Date:     September 10, 1998       By:   /s/ Dempsey K. Mork             ---
-------------------------------------------
                                       Dempsey K. Mork
                                       President and Chief
                                       Financial Officer































                                                    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.


Date:     September 10, 1998            By:
                                       Dempsey K. Mork
                                       President and Chief
                                       Financial Officer