SECURITIES AND EXCHANGE COMMISSION
                               Washington, D.C.  20549


     Securities Exchange Act of 1934
     Release No. 39163 / September 30, 1997     

     Administrative Proceeding File No. 3-9464

     IN THE MATTER OF PAUL FRANCIS MABRY


          On September   , 1997, the Commission instituted public administrative
     proceedings against Paul Francis Mabry of Downers Grove, Illinois.  In the
     Order, the Division of Enforcement alleges that in 1992 Mabry participated
     in a scheme whereby he sold thousands of shares of the common stock of
     Teletek, Inc. to his unsuspecting customers in return for undisclosed
     compensation from affiliates of Teletek and that he encouraged other
     registered representatives to receive undisclosed payments in return for
     sales to their customers of Teletek stock.  Teletek, which has its
     principal office in Las Vegas, Nevada, markets international telephone
     calling services.  The Division alleges that Mabry willfully violated
     antifraud provisions under the Securities Act of 1933 and the Securities
     Exchange Act of 1934.  

          A hearing will be held to determine whether the allegations are true
     and to afford the respondent an opportunity to present any defenses, and to
     determine what, if any, remedial action is appropriate.

























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