<PAGE>











                  U.S. SECURITIES AND EXCHANGE COMMISSION 

                           Washington, D.C. 20549 







                                   FORM 8-K                                    
                                Current Report                                 
                REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE 

                    SECURITIES AND EXCHANGE ACT OF 1934 







                               March 4, 1999                                   
                              Date of Report                                   
                    (Date of earliest event reported)                           
     

                               WSF CORPORATION

                 (D.B.A. Wall Street Financial Corporation)                    
     (Exact name of Small Business Issuer as specified in its charter) 

         



                            

        Delaware                    0-17117                  99-0240826        
       (State of              (Commission File No.)      (I.R.S. Employer      
      Incorporation)                                     Identification No.)   
                                                                               
                                                                               
     1088 Bishop Street, Suite 202, Honolulu, HI, USA        96813    

     (Address of principal executive offices)              (Zip Code) 

 

   

  Registrant's telephone number, including area code:  (808) 526-3999 

 Listed OTCBB "WSFI"
____________________________________________________________________________ 





<PAGE>

Item 1.    Changes in Control of Registrant



     Not applicable





Item 2.    Acquisition or Disposition of Assets



     Not Applicable





Item 3.    Bankruptcy or Receivership



     Not Applicable





Item 4.    Changes in Registrant's Certifying Accountant



     Not Applicable





Item 5.    Other Events



     On January 27, 1999, the Board of Directors of the Company approved the
appointment of James G. Caldwell to the Board of Directors of the Company.



     On February 1, 1999, the Company engaged James G. Caldwell as President
and Chief Operating Officer of the Company and its subsidiaries.        


     On February 2, 1999, the Company engaged Cornerstone Financial Co. LLC.
of New York, as Financial Advisor to the Company on an exclusive basis. 
Cornerstone Financial Co., LLC. will assist the Company in its efforts to
obtain financing to develop its real estate holdings in Belize, to achieve its
growth goals through synergistic acquisitions and to list the Company's stock
on AMEX or NASDAQ. 



Item 6.    Resignations of Registrant's Directors     


     Roy S. Adaniya, M.D, Chairman of the Board's Compensation Committee 
Chairman and acting Chief Operating Officer until replaced by Mr. Caldwell, 
resigned from the Board of Director's of the Company. His resignation was
accepted on February 16, 1999.  


Item 7.    Financial Statements and Exhibits



     Press Release   RE: WSF hires New President, Exhibit  A .



                         SIGNATURES    


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



                                    WSF Corporation


                                    By /s/ Gerhart W. Walch

                                    Gerhart W. Walch
                                    Chairman of the Board




                                Exhibit "A"


HONOLULU   (BUSINESS WIRE)   Feb. 2, 1999   WSF Corp. (OTC BB: WSFI) will
retain the services of noted real estate developer James G. Caldwell as
President and Chief Operating officer, it was announced today by Chairman
Gerhart W. Walch.

Caldwell, who has been responsible for the development of large-scale real
estate projects in both Hawaii and California, will join WSF immediately.  He
will also be a member of the WSF Board of Directors.

Caldwell will also be responsible for overseeing WSF Trust Corporation of
Belize and its three subsidiaries, the Salt Creek Club, a private member 14-
acre club; Mayan Plantation, Ltd., timber processing operation; and Mayan
Resorts, Ltd., a land use and management company.

"We are pleased to welcome someone aboard with the experience and reputation of
James Caldwell,"  said Walch.  He has been involved in a number of very
successful development projects in different climates and is exactly the
person we need to us move forward with our Belize operations. 

In Belize, Caldwell will initially complete the Salt Creek Club and then work
on a golf course, a business park and a conference resort facility, subject to
obtaining development financing and government approvals.  WSF is also
controlling owner of Compradore Limited, which is the titleholder for the
31,000-acre oceanfront Salt Creek Estate in the northern half of the country.

Among Caldwell s real estate achievements in California are the oceanfront
5,000-acre Sea Ranch in Northern California, the 1,000-acre national award
winning Camarillo Springs project near Los Angeles, and an 800-acre luxury
golf course in Bel Air.

In Hawaii, Caldwell, was the project manager and, later, senior vice president
for Castle & Cooke (NYSE) in the development of the company's affordable
housing sections of the 3,500-acre Mililani Town, and a 240-acre Business
Technology Park.  He also served for four years as managing director for
Honfed Bank in Honolulu, and was a member of the bank's executive committee. 
Earlier, Caldwell was a Foreign Service Officer for the U.S. Government.

Caldwell, who was born in the Philippines, is a graduate of the University of
Southern California and will allocate time between WSF's corporate offices in
Honolulu and its Belize operations.



CONTACT:

ProComm Public Relations
Jim Boersema, 808/528-3159

KEYWORD:  HAWAII CALIFORNIA





BW 0387 FEB 02, 1999



14:41 PACIFIC

17:41 EASTERN
[{"type": "8-K", "sequence": "1", "secsgml_size_bytes": 6053}]
{"company-data": {"conformed-name": "WALL STREET FINANCIAL CORP /DE/", "cik": "0000837491", "assigned-sic": "8742", "irs-number": "990240826", "state-of-incorporation": "DE", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-17117", "film-number": "99558012"}, "business-address": {"street1": "1088 BISHOP ST SUITE 202", "city": "HONOLULU", "state": "HI", "zip": "96813", "phone": "8085263999"}, "mail-address": {"street1": "1088 BISHOP STREET", "street2": "SUITE 202", "city": "HONOLULU", "state": "HI", "zip": "96813"}}
U.S. SECURITIES AND EXCHANGE COMMISSION 

                           Washington, D.C. 20549 

                                   FORM 8-K                                    
                                Current Report                                 
                REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE 

                    SECURITIES AND EXCHANGE ACT OF 1934 

                               March 4, 1999                                   
                              Date of Report                                   
                    (Date of earliest event reported)                           
     

                               WSF CORPORATION

                 (D.B.A. Wall Street Financial Corporation)                    
     (Exact name of Small Business Issuer as specified in its charter) 

         

                            

        Delaware                    0-17117                  99-0240826        
       (State of              (Commission File No.)      (I.R.S. Employer      
      Incorporation)                                     Identification No.)   
                                                                               
                                                                               
     1088 Bishop Street, Suite 202, Honolulu, HI, USA        96813    

     (Address of principal executive offices)              (Zip Code) 

 

   

  Registrant's telephone number, including area code:  (808) 526-3999 

 Listed OTCBB "WSFI"
____________________________________________________________________________
Item 1.    Changes in Control of Registrant

     Not applicable

Item 2.    Acquisition or Disposition of Assets

     Not Applicable

Item 3.    Bankruptcy or Receivership

     Not Applicable

Item 4.    Changes in Registrant's Certifying Accountant

     Not Applicable

Item 5.    Other Events

     On January 27, 1999, the Board of Directors of the Company approved the
appointment of James G. Caldwell to the Board of Directors of the Company.

     On February 1, 1999, the Company engaged James G. Caldwell as President
and Chief Operating Officer of the Company and its subsidiaries.        

     On February 2, 1999, the Company engaged Cornerstone Financial Co. LLC.
of New York, as Financial Advisor to the Company on an exclusive basis. 
Cornerstone Financial Co., LLC. will assist the Company in its efforts to
obtain financing to develop its real estate holdings in Belize, to achieve its
growth goals through synergistic acquisitions and to list the Company's stock
on AMEX or NASDAQ. 

Item 6.    Resignations of Registrant's Directors     

     Roy S. Adaniya, M.D, Chairman of the Board's Compensation Committee 
Chairman and acting Chief Operating Officer until replaced by Mr. Caldwell, 
resigned from the Board of Director's of the Company. His resignation was
accepted on February 16, 1999.  

Item 7.    Financial Statements and Exhibits

     Press Release   RE: WSF hires New President, Exhibit  A .

                         SIGNATURES    

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

                                    WSF Corporation

                                    By /s/ Gerhart W. Walch

                                    Gerhart W. Walch
                                    Chairman of the Board

                                Exhibit "A"

HONOLULU   (BUSINESS WIRE)   Feb. 2, 1999   WSF Corp. (OTC BB: WSFI) will
retain the services of noted real estate developer James G. Caldwell as
President and Chief Operating officer, it was announced today by Chairman
Gerhart W. Walch.

Caldwell, who has been responsible for the development of large-scale real
estate projects in both Hawaii and California, will join WSF immediately.  He
will also be a member of the WSF Board of Directors.

Caldwell will also be responsible for overseeing WSF Trust Corporation of
Belize and its three subsidiaries, the Salt Creek Club, a private member 14-
acre club; Mayan Plantation, Ltd., timber processing operation; and Mayan
Resorts, Ltd., a land use and management company.

"We are pleased to welcome someone aboard with the experience and reputation of
James Caldwell,"  said Walch.  He has been involved in a number of very
successful development projects in different climates and is exactly the
person we need to us move forward with our Belize operations. 

In Belize, Caldwell will initially complete the Salt Creek Club and then work
on a golf course, a business park and a conference resort facility, subject to
obtaining development financing and government approvals.  WSF is also
controlling owner of Compradore Limited, which is the titleholder for the
31,000-acre oceanfront Salt Creek Estate in the northern half of the country.

Among Caldwell s real estate achievements in California are the oceanfront
5,000-acre Sea Ranch in Northern California, the 1,000-acre national award
winning Camarillo Springs project near Los Angeles, and an 800-acre luxury
golf course in Bel Air.

In Hawaii, Caldwell, was the project manager and, later, senior vice president
for Castle & Cooke (NYSE) in the development of the company's affordable
housing sections of the 3,500-acre Mililani Town, and a 240-acre Business
Technology Park.  He also served for four years as managing director for
Honfed Bank in Honolulu, and was a member of the bank's executive committee. 
Earlier, Caldwell was a Foreign Service Officer for the U.S. Government.

Caldwell, who was born in the Philippines, is a graduate of the University of
Southern California and will allocate time between WSF's corporate offices in
Honolulu and its Belize operations.

CONTACT:

ProComm Public Relations
Jim Boersema, 808/528-3159

KEYWORD:  HAWAII CALIFORNIA

BW 0387 FEB 02, 1999

14:41 PACIFIC

17:41 EASTERN