November 21, 2003

Mr. Jonathan G. Katz, Secretary
Securities and Exchange Commission
450 Fifth Street, NW
Washington, D. C. 20549

RE: File No. S7-19-03

Martin Glotzer, is delighted to respond to the commission's request for comments on its release captioned "Security Holder's Directors Nominations."

In theory, I am in favor of this breakthrough milestone for shareholder democracy...provided that small shareholders and large shareholders are treated equally, and not surrender to the so-called "entrenched interests"...the institutions and mutual fund managers.

I am concerned of the numerous variables that could affect individual's benefits.

The program of "Security Holders Director Nomination" could be whittled away by its opponents under the guise, not of being against it, but merely of making its provisions fitted to their interests.

Thank you for the opportunity to respond.

Sincerely Yours,

Martin Glotzer