From: William Cate [beowulfinvestments@yahoo.com]
Sent: Tuesday, May 15, 2001 9:05 PM
To: rule-comments@sec.gov
Subject: No S7-24-99

Dear SEC
  You should consider including American Banks, who
are Depository Trust Participants, and require that
they report the Depository Receipts they have issued.
It's the bank's way of selling short the stock. To
ensure these aren't short sales, you should require
the bank to hold the underlying stock for which the
Depository Receipts have been issued and that their
registration of these shares is reflected by the
firm's Transfer Agent.

  You should consider ending the use of Medallon
Guarantee Stamps. They are used to sell unregistered
and nonexistent shares outside the United States.

 Short sales are the second most profitable activity
of brokerage firms. The practice needs to be
disclosed, so that you can determine its impact on the
public shareholder of these high risk stocks. 

=====
William Cate - Managing Director
Beowulf Investments 
Cyprus Tel: (357) 9 878 302
Belize Tel: (501) 7-22342
USA Tel: (1) 650 879-0654

__________________________________________________
Do You Yahoo!?
Yahoo! Auctions - buy the things you want at great prices
http://auctions.yahoo.com/