Author:  "Honey J. Music" 
Date:    03/23/2000  11:01 PM

Subject: selective disclosure & new issue

As a registered rep in the discount securities business, I have often received 
complaints from  the public on price movements prior to any public release of 
news
when a public co. is merging, splitting, acquiring or making a secondary offer.
     
I get a far greater no. of complaints about the unavailibilty of new issue stock
for the client who can not establish a large enough capital account with a 
retail broker to participate, even when suitable.  Some percentage of stock in 
each new offering should be set aside in round lots for the public, much like 
SOES ensures the small investor gets a fair execution while elbowing in with 
instititions in equity markets.
Is it ethical for underwriters to continuely feed the (same) pool of wealthy 
investors with  speculative opportunity that the general investing public hear 
about and resent? 
     
Thank you this opportunity.
     
Sincerely,
     
HJ Music