Subject: File No. S7-3-98
Date:    4/23/98 10:48 AM
     
     
     
If anyone but bureaucrats had come up with such a stupid set of proposals I 
would be amazed.  Please be assured that these proposals will have the exact 
OPPOSITE effect intended.  We need MORE legitimate market-makers in OTC 
stocks, not FEWER.  These proposals would drive them away in droves.  The 
more quickly S7-3-98 is deep-sixed, the more quickly securities firms can 
get back to their most valuable functions--providing liquidity to holders of 
publicly tradeable securities and raising capital for the smaller firms 
which are providing up to 80% of all new jobs.
     
Kill it!
     
Larry Howell
President
The Howell Group