Subject: File No. S7-25-99
From: ALVIN W Gebhart, JR

August 24, 2004

I AGREE WITH THE FPA. I AM REGISTERED BOTH AS A REGISTERED INVESTMENT ADVISOR AND SECUIRITES REPRESENTATIVE. THE REQUIREMENTS ARE TOUGHER FOR THE REGISTER INVESTMENT ADVISOR AND I BELIEVE IT IS IN THE BEST INTEREST OF THE CUSTOMER. WE HAVE TO CARRY HIGHER STANDARDS AND DISCLOSE ANY CONFLICTS THAT WE MAY HAVE. I THING GIVING SOMEONE BLANKET AUTHORIZATION TO CALL THEMSELVES THE SAME AS THOSE WHO STRIVE TO DO BETTER IS WRONG.CUSTOMERS COME TO THE NAME, REGISTRED INVESTMENT ADVISOR IS AN IMPORTANT DISTINCTION. THE CLIENTS THAT HAVE COME TO US FEEL THAT THEY ARE REPRESENTED BY US AND NOT SOME COMPANY. AFTERALL THE BROKER WHO WORKS FOR THE BROKERAGE HOUSES REPRESENTS THE HOUSE NOT THE CLIENT. THIS IS BY CONTRACT THAT EACH BROKER SIGNS ON WHEN HE OR SHE GOES TO WORK FOR THE BROKERAGE HOUSE. WITH ALL THE PROBLEMS WE HAVE SEEN IN THE INDUSTRY WHY NOT RAISED THE BAR RATHER THEN LOWER IT.