Subject: File No. S7 -3-98
Date:    4/28/98 4:58 PM
     
27 April 1998
     
Mr. Jonathan G. Katz, Secretary
Securities and Exchange Commission
Mail Stop 6-9
450 Fifth Street N.W.
Washington DC 20549
     
     
Dear Mr. Katz
     
I am writing this letter upon the invitation of the Securities and 
Exchange Commission for comments on Exchange Act Release No. 34-39670. 
This release proposes certain amendments to rule 15 c2-11, of the 
Securities Exchange Act of 1934.
     
As a professional money individual investor I invest on occasion in 
securities which would be effected by the proposed exchanged act.  My 
primary concern is the reduced liquidity which will result in the 
proposition is officially enacted, the ability for a professional or 
individual to find a fair price for his securities will be adversary 
effected. In addition I don't believe that the desired effect, a 
reduction of fraud will occur.  Valid financial statements, even if 
provide, are the last thing innocent investors look at when they being 
conned by fraudulent operators.
     
Thank you for your attention to my comments.
     
Yours sincerely
     
     
     
ALEXANDER E JACKSON
Managing Director