SCHEDULE 13G

                   Under the Securities Exchange Act of 1934

                               (Amendment No. 3)

                          REGENT ASSISTED LIVING, INC.                     
                               (Name of Issuer)

                              Common Stock                                 
                        (Title of Class of Securities)

                                   758949101                            
                                (CUSIP Number)




   *The  remainder  of this cover page shall be filled out for a  reporting
   person's  initial  filing on this form with respect to the subject class
   of securities,  and for any subsequent amendment containing  information
   which would alter the disclosures provided in a prior cover page.

   The  information  required in the remainder of this cover page shall not
   be deemed to be "filed" for the purpose of Section 18 of the  Securities
   Exchange Act of 1934 ("Act") or otherwise  subject to the liabilities of
   that section of the Act but shall be subject to all other  provisions of
   the Act (however, see the Notes).


                                  Page 1 of 4


- ------------------------                              ------------------------
CUSIP NO.  758949101                  13G                  Page 2 of 4 Pages
- ------------------------                              ------------------------

- -------------------------------------------------------------------------------
1.   NAME OF REPORTING PERSON
     S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON

           BLACK & COMPANY, INC.    93 - 0479581

- -------------------------------------------------------------------------------
2.   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
                                                              (a) |_|
                                                              (b) |_|

- -------------------------------------------------------------------------------
3.   SEC USE ONLY



- -------------------------------------------------------------------------------
4.   CITIZENSHIP OR PLACE OF ORGANIZATION

           OREGON

- -------------------------------------------------------------------------------
                5.  SOLE VOTING POWER
   NUMBER OF
    SHARES                N/A   (see Item 5)
                ---------------------------------------------------------------
                6.  SHARED VOTING POWER
 BENEFICIALLY
   OWNED BY               N/A   (see Item 5)
                ---------------------------------------------------------------
     EACH       7.  SOLE DISPOSITIVE POWER
   REPORTING
                          N/A   (see Item 5)
                ---------------------------------------------------------------
    PERSON      8.  SHARED DISPOSITIVE POWER
     WITH
                          N/A   (see Item 5)
- -------------------------------------------------------------------------------
9.   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON


           N/A
- -------------------------------------------------------------------------------
10.  CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*



- -------------------------------------------------------------------------------
11.  PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9



- -------------------------------------------------------------------------------
12.  TYPE OF REPORTING PERSON*

           BD

- -------------------------------------------------------------------------------
                              *SEE INSTRUCTIONS

                                  Page 2 of 4


Item 1.

      (a)  Name of Issuer:     Regent Assisted Living, Inc.

      (b)  Address of Issuer's Principal Executive Offices:

                     121 S.W. Morrison St., Suite 1000             
                     Portland, Oregon  97204                       

Item 2.

      (a)  Name of Person Filing:   Black & Company, Inc.

      (b)  Address of Principal Business Office or, if none, Residence:

                    One S.W. Columbia St., Suite 1200              
                    Portland, Oregon  97258                        

      (c)  Citizenship:   State of Oregon

      (d)  Title of Class of Securities:  Common Stock

      (e)  CUSIP Number:  758949101

Item 3.    If this statement is filed pursuant to  Rule 13d-1(b)  or 13d-2(b),
           check whether the person filing is a:

      (a)[ X ]  Broker or Dealer registered under Section 15 of the Act

      (b)[   ]  Bank as defined in section 3(a)(6) of the Act

      (c)[   ]  Insurance Company as defined in section 3(a)(19) of the Act

      (d)[   ]  Investment   Company   registered   under  section  8  of  the
                Investment Company Act

      (e)[   ]  Investment   Adviser  registered  under  section  203  of  the
                Investment Advisers Act of 1940

      (f)[   ]  Employee  Benefit  Plan,  Pension Fund which is subject to the
                provisions  of the Employee  Retirement  Income  Security Act of
                1974 or Endowment Fund; see s. 240.13d-1(b)(1)(ii)(F)

      (g)[   ]  Parent     Holding     Company,     in     accordance     with
                s. 240.13d-1(b)(1)(ii)(G)

      (h)[   ]  Group, in accordance with s. 240.13d-1(b)(1)(ii)(H)

Item 4.    Ownership

      (a)  Amount Beneficially Owned:     N/A (see Item 5)
      (b)  Percent of Class:   N/A


                                  Page 3 of 4


      (c)  Number of shares as to which such person has:

           (i)  sole power to vote or to direct the vote:
           (ii) shared power to vote or to direct the vote:
           (iii)sole power to dispose or to direct the disposition of:
           (iv) shared power to dispose or to direct the disposition of:

Item 5.    Ownership of Five Percent or Less of a Class

           If this  statement  is being  filed to  report  the fact that as of
the date hereof,  the reporting  person has ceased to be the beneficial  owner
of more than five  percent of the class of  securities,  check the  following:
|X|

Item 6.    Ownership of More Than Five Percent on Behalf of Another Person

           N/A

Item 7.    Identification   and   Classification   of  the  Subsidiary   Which
           Acquired  the  Security  Being  Reported  on by the Parent  Holding
           Company

           N/A

Item 8.    Identification and Classification of Members of the Group

           N/A

Item 9.    Notice of Dissolution of Group

           N/A

Item 10.   Certification

           N/A

                                  SIGNATURE

After  reasonable  inquiry  and to the  best of my  knowledge  and  belief,  I
certify that the  information  set forth in this  statement is true,  complete
and correct.

DATE: February 5, 1999
                               BLACK & COMPANY, INC.


                               By:  /s/ Frank J. Niezgoda
                                   -------------------------------------------
                                    Frank J. Niezgoda, Executive Vice President