We present spectroscopic observations of the quasar PG 1512+370, cover
ing the H beta line spectral range and collected at moderate resolutio
n (2-7 Angstrom FWHM) from 1988 to 1996. The observations show that th
e blue wing of the H beta broad profile component has changed signific
antly in flux and shape between 1988 and 1990 and between 1995 and 199
6. A displaced blue peak on the H beta profile, visible in 1988, but n
ot in the 1990-1995 spectra, is revealed again in one of the spectra o
btained in 1996. The blue peak (in both the 1988 and 1996 spectra) is
centered at Delta v(r) approximate to 3000(-500)(+500) km s-1 from the
rest frame defined by the narrow component of H beta, and the [O III]
lambda lambda 4959, 5007 lines. We discuss several conflicting interp
retations of the data. We find that the variability of the H beta blue
wing is consistent with Balmer line emission from regions whose motio
n is predominantly radial, if variations of the blue wing are a respon
se to continuum changes. Alternatively, we note that observed H beta l
ine profile variations are consistent with a variable line component a
s in a ''binary black hole'' scenario. More frequent observations of H
beta are needed to distinguish among these hypotheses.