Subject: File No. 4-500
From: Murray D. Bradley, Jr., CFO
Affiliation: Ruby Mining Company
June 6, 2005
Reference: SEC File No. 4-500 Request for rulemaking regarding member records of "short" positions and reporting and public dissemination of aggregate positions by security.
I am Murray D. Bradley, Jr., CFO of Ruby Mining Company (RUBM). I am of the opinion that our stock is routinely shorted to the detriment of our company. I believe that capital formation in the United States of America is being specifically hindered and in some cases unnecessarily harmed by actions of market makers and international transactions for Pink Sheet and OTCBB traded stocks. I believe the SEC could and should enforce existing rules to impact these abuses. I believe the SEC could have a positive effect on limited these abuses and helping with capital formation for the advancement of technology and other economically good ideas. Remember, some of the countries biggest manufacturing concerns, whose stocks trade in the Pink Sheets, are being negatively affected as well. Where we be today without emerging technologies and concepts the likes of Intel, Oracle, Google, Amgen, and many others. They started as small as well! Having transparency in short positions would be a great first step. They should be public records.
It is important to have a level playing field. If trading mutual fund shares after hours is unfair, then why is not concealing short positions. It is these very fragile companies that need this kind of help from the SEC and not just the current giants of industry. For we all know to well that today's emerging companies may well be tomorrow's giants.
Murray D. Bradley, Jr., CFO
Ruby Mining Company