Subject: Re: File No. S7-3-9
Date:    4/23/98 5:35 PM
     
     
Jonathan G. Katz, Secretary
United States Securities and Exchange Commission 
450 Fifth Street N.W., Mail Stop 6-9
Washington, D.C. 20549
     
RE:     NO to the proposed changes to 15c2-11 which would require that 
        market makers review and vouch for a security on annual basis (if they 
        publish a price for such security).
     
     
Dear Sir:
     
Please DO NOT approve the proposed changes to 15c2-11.  It appears that 
the intent of these changes have been made to protect the average 
investor from losing money because of outright fraud.  The results of 
the changes will be to discourage or eliminate market making for many 
non-Nasdaq securities.  The changes proposed will require third parties 
(market makers) to basically conduct a yearly audit on all the companies 
that they wish to trade in.  That creates another layer of non-producing 
expense to the process of dealing with OTC stocks, which will hurt the 
value of legitimate stocks, and most certainly will not curb those who 
wish to defraud an investor.  Where will the market makers get the funds 
to pay for all the monthly audits?  Profit is the motive in the stock 
market.
     
If you implement these changes, you eliminate the profit motive for the 
market maker, you eliminate a way for small businesses to raise capital 
and you eliminate investment opportunities for both the small investor 
and the foreign investor.
     
Please don't take the capital out of capitalism.
     
Thank you for your urgent attention to this matter. 
Sincerely,
Active Voice Corporation; SEC file #0-22804; Nasdaq symbol "ACVC",

                Diane Cognetta
                Investor Relations Coordinator
                Active Voice Corporation
                (206) 441-4700 ext 197
                dcognetta@activevoice.com
                www.activevoice.com
     
                cc:  Senator Slade Gorton (via email)
                     Senator Patty Murray (via email)
                     Jim McDermott; U.S. House of Representatives