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         UNITED STATES SECURITIES AND EXCHANGE COMMISSION


SECURITIES EXCHANGE ACT OF 1934
Release No. 37926 / November 6, 1996

INVESTMENT COMPANY ACT OF 1940
Release No. 22316 / November 6, 1996

Administrative Proceeding
File No. 3-9181

              ADMINISTRATIVE PROCEEDINGS INSTITUTED
              AGAINST EDWARD D. JONES & CO., ET. AL.

     The  Securities  and  Exchange  Commission  (Commission) has
instituted   public   administrative  proceedings,   pursuant  to
Sections 15(b), 19(h) and  21C of the Securities Exchange  Act of
1934 and Sections 9(b) and 9(f) of  the Investment Company Act of
1940  (Investment  Company Act),  against Edward  D. Jones  & Co.
(Jones  & Co.), a registered broker-dealer  located in St. Louis,
Missouri.  The proceedings were also instituted against Donald E.
Walter (Walter),  Steven T.  Roberts (Roberts), Ronald  L. Gorgen
(Gorgen)   and  Charles   R.  Larimore   (Larimore),  individuals
associated with Jones & Co.

     The Order Instituting Proceedings (Order) alleges that Jones
& Co. unlawfully charged commissions in repurchasing interests in
three  Unit Investment Trusts from Jones &  Co. customers.   As a
result,  the Order alleges that  Jones & Co.  violated Rule 22c-1
promulgated  under the Investment Company Act in that Jones & Co.
repurchased the interests  at a price which was  not based on the
current  net asset  value of the  UIT interests.   The Order also
alleges  that  Jones &  Co.  obtained  approximately $120,000  in
commissions by engaging in this unlawful activity.
  
     The Order  further alleges that Walter,  Roberts, Gorgen and
Larimore  caused  Jones &  Co.'s  violations  by authorizing  the
commissions charged  by Jones & Co.'s registered representatives.
A  hearing will be held  to determine whether  the allegations in
the Order are true  and to determine what remedial  sanctions, if
any, are appropriate and in the public interest.