Date:    06/20/2000  11:26 AM

Subject: S7-24-99

The ability to naked shorting on OTCBB stocks ammounts to a license to 
couterfeit stocks. This artificially deflates true value of a company. As 
many new companies use equity to assure loans/capital investment. The 
ability of Market Makers to naked short a companies stock, severly 
cripples a companies ability to secure investment and capital, often the 
results are the destruction odf a start up company. Please stop this the 
ability of market makers to naked short shares. All shorted stock should 
be accounted for on a monthly basis, similar to options and puts.
     
Thank you for your attention to this matter.
     
--
James McCaffery
Naval Surface Warfare Center
Dahlgren Division SD12
Dahlgren, VA  22448-5000