SECURITIES AND EXCHANGE COMMISSION
                               Washington, D.C.  20549


     Securities Exchange Act of 1934
     Release No. 38751 / June 20, 1997

     Administrative Proceeding File No. 3-9334

     IN THE MATTER OF STEVEN IRA WERTMAN, ROBERT BRUCE ORKIN, EDWARD CHARLES
     WILLIAM DONNER, III AND EARL SETH DAVID


          On June 20, 1997, the Commission instituted public administrative
     proceedings against Steven Ira Wertman, Robert Bruce Orkin, Edward Charles 
     William Donner, III, and Earl Seth David.  In the Order, the Division of
     Enforcement alleges that the respondents participated in a scheme in which
     Orkin, then principal officer of a brokerage firm, R. B. Webster
     Investments, Inc., caused the firm to sell common stock of Teletek, Inc. in
     return for secret payments which were not disclosed to its customers. 
     Teletek, which has its principal office in Las Vegas, Nevada, markets
     international telephone calling services.  

          The Order specifically alleges that in 1992, Wertman, a Staten Island
     stock promoter, arranged for secret payments to be made to Orkin, the
     beneficial owner and principal officer of Webster, a now defunct Florida
     brokerage firm.  The Order also alleges that at Wertman's direction, David,
     an immigration attorney, received and sold the Teletek stock from a foreign
     account and made the secret payments to Orkin.  The Order further alleges
     that Donner, a vice president and the compliance director of Webster,
     assisted Orkin in purchasing stock for resale to Webster's customers and
     arranged for the transfer of the payments to foreign corporations and
     accounts controlled by Orkin.  In addition, the Division alleges that in
     1993 Teletek issued stock to one or more foreign entities owned and
     controlled by Orkin.  The Division also alleges that Wertman and Orkin
     manipulated the market in Teletek stock during the Spring of 1992.  The
     Division alleges that as a result of this conduct, the respondents
     willfully violated the antifraud provisions under the Securities Act of
     1933 and the Securities Exchange Act of 1934.  

          The Order also alleges that Wertman was indicted in U.S. v. Swan, et
     al., CR-S-96-288 (D. NV filed Nov. 6, 1996), and Orkin and Donner were
     indicted in U.S. v. Cozzolino, et al., CR-S-96-287 (D. NV filed Nov. 6,
     1996), which are related criminal proceedings in the U.S. District Court
     for the District of Nevada.  Wertman and Donner have pled guilty to charges
     which encompass securities fraud, and are awaiting sentencing.

          The proceedings were instituted to determine whether the allegations
     are true and to afford the respondents an opportunity to present any
     defenses, and to determine what, if any, remedial action is appropriate.



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