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          UNITED STATES SECURITIES AND EXCHANGE COMMISSION
                         


Securities Exchange Act of 1934 
Release No. 36929   

Administrative Proceeding File No. 3-8969


                  In the Matter of Sandra Logay 

     The Commission announced the institution of public
administrative proceedings under Sections 15(b) and 19(h) of the
Securities Exchange Act of 1934 ("Exchange Act") against Sandra
Logay, a former branch office manager at the Chesterfield,
Missouri branch office of Prudential Securities, Inc.
("Prudential"), alleging failure to reasonably supervise a
registered representative subject to her supervision, with a view
to preventing violations of Section 17(a) of the Securities Act
and Section 10(b) of the Exchange Act and Rule 10b-5 thereunder. 
Sections 15(b)(4) and 15(b)(6) of the Exchange Act authorize the
Commission to sanction associated persons where the associated
person fails reasonably to supervise, with a view to preventing
violations of the provisions of the federal securities laws,
another person subject to their supervision, who commits such a
violation.

     The Commission alleges that as branch office manager, Logay
was responsible for the direct supervision of the registered
representatives in the Chesterfield, Missouri branch office. 
Between November 30, 1990, and May 30, 1992, the registered
representative engaged in various fraudulent practices with
respect to the securities accounts of at least three elderly
customers.  Among other things, the registered representative
engaged in undisclosed margin trading, churning of customer
accounts, and  unauthorized and unsuitable trading, and
misrepresented to customers that the account statements received
by them were erroneous and that the value of their accounts was
greater than that shown on their account statements.  Among other
things, Logay failed to comply with Prudential's active account
review procedures, and, accordingly, failed reasonably to
supervise  the registered representative's activities.

     The administrative proceedings will determine whether
remedial action under Sections 15(b) and 19(h) of the Exchange
Act is appropriate and in the public interest.  
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               ORDER INSTITUTING PUBLIC PROCEEDINGS
                       AGAINST SANDRA LOGAY

     On March  , 1996, the Commission instituted public

administrative proceedings against Sandra Logay ("Logay"), former

branch office manager of the Chesterfield, Missouri branch office

of Prudential Securities, Inc. ("Prudential").  In the Order, the

Commission alleges that, between November 30, 1990, and May 30,

1992, Logay failed reasonably to supervise a registered

representative, employed at the Prudential Chesterfield, Missouri

branch office, who engaged in various fraudulent practices with

respect to the accounts of several elderly customers.  Among

other things, the registered representative engaged in

undisclosed margin trading, churning of customer accounts, and

unauthorized and unsuitable trading, and misrepresented to

customers that the account statements received by them were

erroneous and that the value of their accounts was greater than

that shown on their account statements.  Among other things,

Logay failed to comply with Prudential's active account review

procedures, and, accordingly, failed reasonably to supervise  the

registered representative's activities.  The administrative

proceedings will determine whether remedial action under Sections

15(b) and 19(h) of the Exchange Act is appropriate and in the

public interest.  



(Rel._____________)
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     Contact Persons:    William P. Hicks (404) 842-7675

                         William A. Rees  (404) 842-7609