MESA ROYALTY TRUST/TX — Director's Dealing 2004

Aug 16, 2004

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: MESA ROYALTY TRUST/TX (MTR)
CIK: 0000313364
Period of Report: 2004-08-12

Reporting Person: ALPINE CAPITAL LP (10% Owner)
Reporting Person: ALGENPAR INC (10% Owner)
Reporting Person: CRANDALL J TAYLOR (10% Owner)
Reporting Person: BRUCE ROBERT W III (10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2004-08-12	Units of Beneficial Interest	S	3500	$60.50	Disposed	595916.00	Direct
2004-08-13	Units of Beneficial Interest	S	800	$60.60	Disposed	595116.00	Direct

Footnotes

F1: J. Taylor Crandall ("Crandall") is the President and sole stockholder of Algenpar, Inc., a Texas corporation ("Algenpar"),
which is one of two general partners of Alpine Capital, L.P., a Texas limited partnership ("Alpine"), which is the direct
beneficial owner of certain of the securities reported herein. Robert W. Bruce III ("Bruce") is the other general partner of
Alpine.

F2: Pursuant to Rule 16a-1(a)(2)(ii)(B) under the Securities Exchange Act of 1934, as amended (the "Act"), Crandall, Algenpar and
Bruce are deemed to be beneficial owners of the shares beneficially owned by Alpine only to the extent of the greater of his
or its respective direct or indirect interest in the profits or capital account of Alpine. Pursuant to Rule 16a-1(a)(4)
under the Act, this filing shall not be deemed an admission that Bruce, Crandall or Algenpar is, for purposes of Section 16
or the Act or otherwise, the beneficial owner of any securities owned by Alpine in excess of such amount.