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                     UNITED STATES OF AMERICA
                            Before the
                SECURITIES AND EXCHANGE COMMISSION


SECURITIES EXCHANGE ACT OF 1934
Release No. 38441 / March 26, 1997

ADMINISTRATIVE PROCEEDING
File No. 3-9282


______________________________
                              :
                              :
In the Matter of              :    ORDER INSTITUTING 
                              :    ADMINISTRATIVE PROCEEDING 
                              :    PURSUANT TO SECTIONS
ROBERT C. WHITE,              :    15(b)(6) AND 19(h) OF THE 
                              :    SECURITIES EXCHANGE ACT        
             Respondent       :    OF 1934, MAKING FINDINGS, 
                              :    AND IMPOSING REMEDIAL          
                              :    SANCTIONS
                              :
______________________________:


                                I.

     The Securities and Exchange Commission ("Commission") deems
it appropriate and in the public interest to institute a public
administrative proceeding pursuant to Sections 15(b)(6) and 19(h)
of the Securities Exchange Act of 1934 ("Exchange Act") against
Robert C. White ("White" or the "Respondent").  Accordingly, IT
IS HEREBY ORDERED that said proceeding be, and hereby is,
instituted.

                               II.

     In anticipation of the institution of this proceeding,
Respondent has submitted an Offer of Settlement ("Offer") which
the Commission has determined to accept.  Solely for the purpose
of this proceeding and any other proceedings brought by or on
behalf of the Commission, or in which the Commission is a party,
without admitting or denying the findings contained herein,
except that Respondent admits the jurisdiction of the Commission
over him and over the subject matter of this proceeding and
admits the entry of the permanent injunction set forth in
paragraph III.D., the Respondent consents to the entry of the
findings and remedial sanctions set forth below.
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                               III.

     On the basis of this Order and Respondent's Offer, the
Commission finds that:

     A.  From approximately March 1988 through January 1989,
White was a registered representative associated with Trademark
Investment Services, Inc., a broker-dealer formerly registered
with the Commission.

     B.  From approximately January 1989 through May 1990, White
was a registered representative associated with Remington
Securities, Inc., a broker-dealer formerly registered with the
Commission.

     C.  From approximately June 1990 through May 1991, White was
a registered representative associated with Titan Value Equities
Group, Inc., a broker-dealer registered with the Commission.

     D.   On March 3, 1997, a Final Judgment of Permanent
Injunction ("Judgment") was entered in the United States District
Court for the Eastern District of California against White.  The
Judgment permanently enjoins the Respondent from violations of
Section 17(a) of the Securities Act of 1933 ("Securities Act"),
Section 10(b) of the Exchange Act and Rule 10b-5 thereunder.  SEC
v. Robert C. White, Civil Action No. CIV-S-97-0145 WBS (PAN)
(E.D. Cal.).

     E.  The Commission's Complaint filed in the action described
above alleges, among other things, that from 1988 through 1996,
White:  1) fraudulently raised approximately $1.9 million from
over 30 investors; 2) misrepresented that he would invest
investor monies in safe stocks, bonds and mutual funds; 3)
misrepresented that he would purchase the securities for
investors through a securities dealer he was associated with, PDR
Group, Inc., which, in fact, has never been registered with the
Commission in any capacity nor has it ever executed a securities
transaction; 4) misused investor monies to pay approximately
$700,000 in returns to the investors pursuant to a Ponzi scheme;
5) misappropriated the remaining investor monies to pay personal
expenses and to fund White's unrelated oil and gas business; and
6) created fictitious account statements and other documents
which lulled investors into believing their funds were invested
as represented and earning substantial profits.  
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                               IV.

     Based upon the foregoing, the Commission deems it
appropriate and in the public interest to impose the sanctions
specified in the Respondent's Offer.

     Accordingly, IT IS HEREBY ORDERED that Respondent White be,
and hereby is, barred from association with any broker, dealer,
municipal securities dealer, investment adviser or investment
company.

     By the Commission.



                                   Jonathan G. Katz
                                   Secretary