SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                    FORM 8-K

                                 CURRENT REPORT

     Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

        Date of Report (Date of Earliest event reported) March 20, 1996


                          SOUTHWEST CAPITAL CORPORATION
              Exact name of registrant as specified in its charter)



     New Mexico                     0-8149                      85-0169650
(State of other jurisdiction     (Commission                  (IRS Employer
  of incorporation)              File Number)               Identification No.) 


1650 University Blvd, N.E., Suite 100, Albuquerque, New Mexico       87102
     (Address of principal executive offices)                      (Zip Code)


Registrant's telephone number, including area code 505-884-7161


Item 4. Changes in Registrant's Certifying Accountant.

     By letter dated March 15, 1996, the Registrant's former principal auditors,
KPMG  PeatMarwick  resigned and will not continue to act in that  capacity or to
audit the  Registrant's  books and records for the year ended December 31, 1995.
Notice of the KPMG  PeatMarwick  resignation  was received by the  Registrant on
March 20, 1996.

a) KPMG  PeatMarwick  served as the  Registrant's  principal  accountant for the
fiscal years ended December 31, 1993 and 1994.

     The Registrant has contacted other auditing firms seeking a replacement for
KPMG  PeatMarwick,  but at the date of this  report has not secured a new firm's
services.  The Registrant has never had any consultation with any contacted firm
of the type described in Paragraph (a)(2) of Item 304 of Regulation S-K.

     i) By letter dated March 15, 1996, KPMG PeatMarwick informed the Registrant
of its immediate resignation.

     ii) KPMG PeatMarwick's reports on the financial statements for the past two
fiscal  years  contained  no adverse  opinion or  disclaimer  of opinion or were
qualified or modified as to disclosure,  uncertainty, audit scope, or accounting
principles.

b) There has been no disagreement between the Registrant and KPMG PeatMarwick of
the type  described in paragraph  (a)(1)(iv) of Item 304 of Regulation  S-K, nor
was there any reportable  event as described in paragraph  (a)(1)(v) of Item 304
of Regulation S-K during the Registrant's current or prior two fiscal years.

c) On the date of this Report the Registrant provided KPMG PeatMarwick a copy of
this  Report  together  with its  request  that KPMG Peat  Marwick  furnish  the
Registrant a letter  addressed to the Commission  stating whether it agrees with
the statements  made herein in response to Item 304(a) of Regulation S-K and, if
not, stating the respects in which it does not agree.

                                   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 hereunto duly authorized.

                              SOUTHWEST CAPITAL CORPORATION

                              Laurence S. Zipkin
                              -----------------------------
                              Laurence S. Zipken, President
[{"type": "8-K", "sequence": "1", "secsgml_size_bytes": 3304}]
{"company-data": {"conformed-name": "SOUTHWEST CAPITAL CORP", "cik": "0000217222", "assigned-sic": "6035", "irs-number": "850169650", "state-of-incorporation": "NM", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-08149", "film-number": "96537727"}, "business-address": {"street1": "1650 UNIVERSITY NE STE 100", "city": "ALBUQUERQUE", "state": "NM", "zip": "87102", "phone": "5052424561"}, "mail-address": {"street1": "1650 UNIVERSITY BLVD NE", "street2": "STE 100", "city": "ALBUQUERQUE", "state": "NM", "zip": "87102"}, "former-company": {"former-conformed-name": "NEW MEXICO EDUCATORS INVESTMENT CORP", "date-changed": "19761111"}}
SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                    FORM 8-K

                                 CURRENT REPORT

     Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

        Date of Report (Date of Earliest event reported) March 20, 1996

                          SOUTHWEST CAPITAL CORPORATION
              Exact name of registrant as specified in its charter)

     New Mexico                     0-8149                      85-0169650
(State of other jurisdiction     (Commission                  (IRS Employer
  of incorporation)              File Number)               Identification No.) 

1650 University Blvd, N.E., Suite 100, Albuquerque, New Mexico       87102
     (Address of principal executive offices)                      (Zip Code)

Registrant's telephone number, including area code 505-884-7161

Item 4. Changes in Registrant's Certifying Accountant.

     By letter dated March 15, 1996, the Registrant's former principal auditors,
KPMG  PeatMarwick  resigned and will not continue to act in that  capacity or to
audit the  Registrant's  books and records for the year ended December 31, 1995.
Notice of the KPMG  PeatMarwick  resignation  was received by the  Registrant on
March 20, 1996.

a) KPMG  PeatMarwick  served as the  Registrant's  principal  accountant for the
fiscal years ended December 31, 1993 and 1994.

     The Registrant has contacted other auditing firms seeking a replacement for
KPMG  PeatMarwick,  but at the date of this  report has not secured a new firm's
services.  The Registrant has never had any consultation with any contacted firm
of the type described in Paragraph (a)(2) of Item 304 of Regulation S-K.

     i) By letter dated March 15, 1996, KPMG PeatMarwick informed the Registrant
of its immediate resignation.

     ii) KPMG PeatMarwick's reports on the financial statements for the past two
fiscal  years  contained  no adverse  opinion or  disclaimer  of opinion or were
qualified or modified as to disclosure,  uncertainty, audit scope, or accounting
principles.

b) There has been no disagreement between the Registrant and KPMG PeatMarwick of
the type  described in paragraph  (a)(1)(iv) of Item 304 of Regulation  S-K, nor
was there any reportable  event as described in paragraph  (a)(1)(v) of Item 304
of Regulation S-K during the Registrant's current or prior two fiscal years.

c) On the date of this Report the Registrant provided KPMG PeatMarwick a copy of
this  Report  together  with its  request  that KPMG Peat  Marwick  furnish  the
Registrant a letter  addressed to the Commission  stating whether it agrees with
the statements  made herein in response to Item 304(a) of Regulation S-K and, if
not, stating the respects in which it does not agree.

                                   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 hereunto duly authorized.

                              SOUTHWEST CAPITAL CORPORATION

                              Laurence S. Zipkin
                              -----------------------------
                              Laurence S. Zipken, President