Subject: Jonathan Katz, File No. S7-25-97
 
Date:    11/20/97 9:34 AM
     
     
Hello --
     
I am writing to express my strong opposition to the proposed rule change 
regarding procedures for shareholders to place proposals on corporate ballots.  
As long as we believe that equity ownership entails rights both to be
residual claimant and to exert control rights, such a rule change is a 
dangerous violation of our system of property rights.
     
Loren Rodgers
Ownership Associates
16 Washburn St
Watertown, MA  02172
Tel:  617-923-1367