Mitchell Carucci
                        33 Lighthouse Rd
                      Great Neck, NY 11024
     
                         (516)482-8256
------------------------------------------------------------ 
Jonathan G. Katz
Securities and Exchange Commission
Mail Stop 6-9
450 Fifth Street N.W.
Washington, D.C. 20549
REF S7-3-98
     
                                   April 26,1998
     
Dear Mr. Katz,
     
  It has come to my attention in the past few days that
changes have been proposed to rule 15c-2-11. After reviewing 
these changes, I feel that the result will be less 
competition in the market for small stocks. Since it is the 
goal of the SEC to insure that free and fair markets exist, 
I don't see how these proposed changes will lead to that 
end. In fact, I believe that just the opposite will occur. 
The changes to this rule will cause fewer traders to make 
markets in these small issues, and that will mean a less 
competitive market.
     
  I have been an investor in small stocks for many years.
The only real protection that I have is that provided by a 
competitive marketplace. Competition is the key to fair 
pricing. Please do not make changes that will stifle this 
competitiveness.
     
  Thank you for your attention to this issue.
     
     
                               Sincerely,
     
     
     
     
                               Mitchell Carucci