U. S. Securities and Exchange Commission



     Securities Exchange Act Release No. 40602  /  October 26, 1998


                         Report on Administrative Proceedings
               For the Period April 1, 1998 through September 30, 1998

          Rule 900 of the Commission's Rules of Practice (17 CFR 201.900)
     requires the Commission's Office of the Secretary to publish in the SEC
     Docket each October and April a status report on the Commission's
     administrative proceedings caseload.

          The report identifies the number of matters pending before the
     administrative law judges and the Commission at the beginning of the six-
     month period; the number of matters instituted, filed, and disposed of
     during the period; and the number pending at the end of the period.  For
     each category of decision, the report shows the median age of the matters
     at the time of the decision and the number of matters decided within the
     guidelines in Rule 900 for the timely completion of adjudicatory
     proceedings.  Finally, the report includes comparison figures from the
     previous two six-month periods.