FORM 10-Q

                            SECURITIES AND EXCHANGE COMMISSION

                                  Washington, D.C. 20549

                 [X] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF
                            THE SECURITIES EXCHANGE ACT OF 1934

                        For the quarterly period ended June 30, 1999
                                               OR

                 [ ] 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 0-11533


                                   GREEN GOLD CONSOLIDATED
                    __________________________________________________________
                       (Exact name of registrant as specified in its charter)


        CALIFORNIA                                                 33-0023916

      (State or other jurisdiction                           (I.R.S. Employer
  of incorporation or organization)                      Identification Number)

                       711 Daily Drive, Suite 120, Camarillo, CA 93010

                    (Address of principal executive office) (Zip Code)


                                    (805) 987-6921
                    (Registrant's telephone number, including area code)

                                         N/A
(Former name, former address and former fiscal year, if changed since last
report)

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 [ ]

<TABLE>
PART I - FINANCIAL INFORMATION

Item 1.   FINANCIAL STATEMENTS

                           GREEN GOLD CONSOLIDATED
                     (A CALIFORNIA LIMITED PARTNERSHIP)

                                BALANCE SHEET


                                               June 30,        September 30,
                                                  1999               1998
                                             (Unaudited)
                                              ---------        ------------
<S>                                          <C>               <C>
ASSETS

Assets:
     Cash and cash equivalents               $1,051,000           $1,204,000
     Notes receivable                           412,000              666,000
     Inventories of growing crops                 8,000                8,000
     Accrued interest receivable                 15,000               17,000
     Property held for sale                     437,000              655,000
     Other assets                                 5,000               17,000
                                             ----------           ----------
          TOTAL ASSETS                       $1,928,000           $2,567,000
                                              =========            =========


LIABILITIES AND PARTNERS' EQUITY

Liabilities:
     Accounts payable and accrued
            liabilities                      $   53,000           $   49,000
                                             ----------           ----------

          TOTAL LIABILITIES                      53,000               49,000

     Partners' equity                         1,875,000            2,518,000
                                             ----------            ---------

          TOTAL LIABILITIES AND
          PARTNERS' EQUITY                   $1,928,000           $2,567,000
                                              =========            =========

See accompanying notes to financial statements
</TABLE>

<TABLE>
                                  GREEN GOLD CONSOLIDATED
                            (A CALIFORNIA LIMITED PARTNERSHIP)

                                STATEMENTS OF OPERATIONS
                                      (Unaudited)



                                                    For the Nine Months Ending
                                                            June 30,
                                                        1999          1998
                                                   -----------     ---------
<S>                                                <C>             <C>
CROP SALES                                         $   106,000     $  224,000

OPERATING COSTS AND EXPENSES:
     Cultural Care Costs                                65,000        125,000
     Professional services                             117,000        103,000
     Depreciation, property tax and other               32,000         74,000
                                                   -----------     ----------

          Total Operating Costs and Expenses           214,000        302,000

LOSS FROM OPERATIONS                                  (108,000)       (78,000)

OTHER INCOME:
     Realized gross profit                             211,000         45,000
     Interest income                                   134,000        135,000
     Gain on sale of property                           16,000            -0-
     Other income                                       12,000          7,000
                                                    ----------      ----------

NET INCOME                                         $   265,000     $  109,000
                                                   ===========     ==========

NET INCOME PER LIMITED
PARTNERSHIP INTEREST                               $    .0265      $   .0109
                                                   ===========     ===========

Weighted average number of limited partnership
interests outstanding during the period used
to compute earnings per limited partnership
interest                                           9,986,000        9,986,000
                                                   =========        =========

See accompanying notes to financial statements
</TABLE>

<TABLE>

                                   GREEN GOLD CONSOLIDATED
                              (A CALIFORNIA LIMITED PARTNERSHIP

                                  STATEMENTS OF OPERATIONS
                                         (Unaudited)


                                                 For Three Months Ending
                                                        June 30,
                                                    1999            1998
                                              ----------         ---------
<S>                                           <C>                < c>
CROP SALES                                    $   83,000         $ 114,000

     Cultural Care Costs                          29,000            45,000
     Professional Services                        27,000            25,000
     Depreciation, property tax and other         14,000            32,000
                                              ----------         ---------

         Total Operating Costs and Expenses       70,000           102,000

     INCOME FROM OPERATIONS                       13,000            12,000

     OTHER INCOME:
         Realized gross profit                    59,000            18,000
         Interest Income                          39,000            44,000
         Gain on sale of property                 16,000               -0-
         Other Income                              7,000               -0-
                                               ----------         ---------

     NET INCOME                               $  134,000         $  74,000
                                              ==========         =========

NET INCOME PER LIMITED
PARTNERSHIP INTEREST                          $    .0134         $   .0074
                                              ==========         =========

Weighted average number of limited partnership
interests outstanding during the period used
to compute earnings per limited partnership
interest                                      9,986,000          9,986,000
                                              =========          =========

See accompanying notes to financial statements
</TABLE>

<TABLE>
                            GREEN GOLD CONSOLIDATED
                       (A CALIFORNIA LIMITED PARTNERSHIP)

                             STATEMENT OF CASH FLOWS

               For the Nine Months Ended June 30, 1999 and 1998
                                  (Unaudited)


                                                       1999            1998
                                                   -----------     ----------
<S>                                                <C>             <C>
Cash flows from operating activities:

     Net income                                    $   265,000     $  109,000
     Adjustments to reconcile net income
     to net cash provided by operating activities:
          Deferred profit recognized                  (211,000)       (45,000)
          Changes in assets and liabilities:
             Decrease in interest receivables            2,000         11,000
             Decrease (increase) in other assets        13,000         (3,000)
             Increase (decrease) in accounts payable
              and accrued liabilities                    4,000         (2,000)
                                                    ------------     ----------

     Net cash provided by operating activities          73,000          70,000
                                                   ------------     ----------
Cash flows from investing activities:
     Collection on notes receivable                    546,000         243,000
     New notes receivable                             (191,000)            -0-
     Property sold                                     218,000             -0-
     Additions to deferred income from
       property sales                                  109,000             -0-
                                                   ------------      ----------
          Net cash provided by investing
            activities                                 682,000         243,000
                                                   ------------      ----------
Cash flows from financing activities:
     Distributions to limited partners                (900,000)      (320,000)
     Distributions to general partner                   (8,000)       (11,000)
                                                    -----------      ----------
          Net cash used by financing
            activities                                (908,000)      (331,000)
                                                    -----------      ----------

Net (decrease) in cash                                (153,000)       (18,000)

Cash at September 30                                 1,204,000        656,000
                                                     ---------       ---------

Cash at June 30                                     $1,051,000      $ 638,000
                                                     ==========      =========

See accompanying notes to financial statements
</TABLE>

                                 GREEN GOLD CONSOLIDATED
                           (A CALIFORNIA LIMITED PARTNERSHIP)

                             NOTES TO FINANCIAL STATEMENTS
                                       (Unaudited)


A.   SIGNIFICANT ACCOUNTING POLICIES

     Property and Depreciation - Property is stated at the lower of cost or net
     realizable value.  Depreciation is provided on a straight-line method over
     the estimated useful lives of the respective assets.

     Inventories - Inventories, consisting of growing crops, is valued at the
     lower of cost or net realizable value under the first-in, first-out (FIFO)
     method. Cost is defined as cultural care costs related to the growing
     crops.

     Income Taxes - The Partnership reports its tax returns on the cash basis of
     accounting.  No provision for income taxes is included in the accompanying
     financial statements as the Partnership's results of operations are
     distributed to the partners for inclusion in their respective income tax
     returns.

     Profit Recognition on Real Estate Sales - It is the Partnership's policy to
     defer profit on real estate sales until such time as the purchaser's
     cumulative investment and continued involvement in the property meet the
     minimum criteria for full profit recognition as set forth in the Financial
     Accounting Standards Board Statement No. 66, Accounting for Sales of Real
     Estate. Until such time as profit can be recognized under the full accrual
     method, the cost recovery and installment methods are used.

     Net Income Per Limited Partnership Interest - Net income per limited
     partnership interest was calculated using the weighted average of limited
     partnership interests outstanding during the year and the Limited Partners'
     share of the net income.

B.   GENERAL

     Green Gold Consolidated was organized in accordance with the Provisions
     of the California Uniform Limited Partnership Act for the purpose of
     receiving the assets and liabilities of twelve limited partnerships under
     common management and thereby consolidating the operations of those
     partnerships under an exchange transaction effective June 30, 1983.  Under
     the exchange transaction, the Partnership issued 10,000,000 limited
     partnership interests (pro rata) to the holders of interests in the twelve
     individual limited partnerships in exchange for the assets and liabilities
     of those partnerships.

     Under the provisions of the partnership agreement, profits and losses are
     allocated in the ratio of 93.5% to the Limited Partners and 6.5% to the
     General Partner, provided that prior to the first fiscal quarter during
     which a distribution is made to the General Partner from the proceeds of
     the property sales or refinancing, all gains and losses resulting from
     property sales are allocated in the ratio of 99% to the Limited Partners
     and 1% to the General Partner.

     The combination of the twelve partnerships into one partnership was treated
     as a reorganization of entities under common control, accounted for similar
     to a "pooling of interest".

C.   NOTES RECEIVABLE

     Notes receivable consist of the following as of:

                                                      June 30,    September 30,
                                                         1999           1998
                                                     ---------     -----------

          First trust deed notes                    $ 1,011,000     $ 1,317,000
          Accounts receivable                               -0-          75,000

          Less:
          Deferred profit on real estate sales         (500,000)       (627,000)
          Allowance for doubtful accounts               (99,000)        (99,000)
                                                     ----------      ---------
                                                    $   412,000     $   666,000
                                                     ==========      ==========

D.   PROPERTY

     Property is comprised of the following:
                                                      June 30,   September 30,
                                                         1999          1998

          Land                                      $  437,000      $  651,000
          Farm equipment                                52,000          81,000
          Trees                                        128,000         158,000
                                                     ---------       ---------
               Total                                   617,000         890,000

          Accumulated depreciation                    (180,000)       (235,000)
                                                     ----------      ----------
                                                    $  437,000      $  655,000
                                                     =========       =========

E.   EARNINGS (LOSS) PER LIMITED PARTNERSHIP INTEREST

     Earnings (loss) per limited partnership interest have been computed by
     dividing the aggregate limited partners' share of net income (loss) by the
     weighted average number of limited partnership interests outstanding during
     the period, 9,986,000 in 1999 and 1998, respectively.

F.   MANAGEMENT AGREEMENT

     The Partnership has an agreement with Las Posas Investment Company and
     Mr. Neno Spondello, Jr. to manage and market the Partnership properties.

G.   STATEMENT BY MANAGEMENT

     In the opinion of the Management, the financial information presented
     herein reflects all adjustments which are necessary to a fair statement of
     the results for the interim periods presented.

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


Results of Operations

Crop sales for the quarter ended June 30, 1999, were $83,000, compared to
$114,000 for the same quarter in 1998.  The quarterly decrease in crop revenue
is attributed to picking 64,000 pounds of avocados at an average price of $1.28
per pound this quarter compared to 140,000 at $.81 per pound the prior year's
quarter ended June 30.  The 1999 crop decreased as a result of fewer avocado
trees due to property sales in 1998 and 1999 totaling 109 acres, leaving only 56
acres as of June 30, 1999.

Operating costs and expenses for the quarter ended June 30, 1999, decreased by
$32,000, from $102,000 to $70,000.  Cultural care costs decreased by $16,000
from $45,000 to $29,000.  The reason for the decrease results from significantly
reduced planted acreage and related pounds picked in 1999 compared to 1998.

Professional Services increased $2,000 from $25,000 to $27,000.  The main
reason for the increase was the cost of a revised property analysis by an
appraiser.  Other expenses decreased $18,000 from $32,000 to $14,000.  The
decline mainly results from a reduction in property taxes due to prior year
property sales.

Other income increased $60,000 from $74,000 to $134,000.  The increase is
mainly attributed to recognizing deferred profit of $59,000 for the quarter
ended June 30, 1999, compared to $18,000 the prior year.  The early payoff of
two notes totaling $194,000 during the quarter ended June 30, 1999 accounted
for $57,000 of the quarter's $59,000 deferred profit recognized.  Interest
income decreased $5,000 during the quarter as a result of a reduction of the
average outstanding notes receivable compared to the prior year.  Other income
increased $7,000 as a result of selling shares of Fruit Growers Lab (FGL) held
by Green Gold back to FGL.

There was one ten acre parcel sold in the quarter ended June 30, 1999 for
$111,000 cash.  Cash offers totaling $214,000 have also been accepted and are
expected to close next quarter on two other parcels (16 acres).  The marketing
and sales program is actively underway for the remaining 4 parcels (39 acres).

Green Gold Consolidated implemented a note discount program in an effort to
convert outstanding notes into Partnership cash.  All 13 existing note holders
with balances totaling $1.2 million were contacted and offered discounts of 5%
to 15% of the loan balance if they would retire their debt within 60-90 days.
The discount percent varied based on the date of maturity of the loan and
property appraised loan-to-value analysis.  A total of $349,000 less $26,000 in
discounts has been converted to cash through June as a result of the program.
All remaining note holders have shown interest in participating in the program.


Liquidity and Capital Resources

As of June 30, 1999, the Partnership has cash reserves of approximately
$1,004,000 to cover operating expenses and any other small amount of remaining
real estate development costs.  This is expected to be sufficient to comply with
the business plan.

PART II

OTHER INFORMATION


Item 6.   EXHIBITS AND REPORTS ON FORM 8-K

          (b)  No reports on Form 8-K were filed by the Registrant during the
               quarter ended June 30, 1999.


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:     August 6, 1999            GREEN GOLD CONSOLIDATED,
                                    a California limited partnership
                                    (Registrant)

                                    By:  Economic Consultants,
                                         a California Partnership,
                                         General Partner

                                    By:  /s/Daniel Lee Stephenson
                                         Daniel Lee Stephenson,
                                         General Partner