Date:    01/31/2000  9:31 AM

Subject: File Number SR-NYSE-99-47

Dear Sirs:
     
As I understand it there is something in the works to raise the margin 
requirement to $25,000 and the more I hear of it the more I don't like it. I 
thought the whole goal here is to level the playing field for everybody, small 
and large investors alike.  This smacks of discrimination under the guise of 
protecting people from themselves. People are responsible for themselves plain 
and simple. It's not the government's job to regulate how people choose to 
invest their money and the method by which they do it. By imposing the $25,000 
requirement you are doing just that for the small investor. If the government 
was so concerned why was the margin ratio increase to 4:1. To protect the little
guy....I think not.
     
But, I believe there are stronger under currents here,  the large institutions 
are scared & are trying to protect their own interests. They want to keep things
status quo, with them hoarding the pie for themselves.  But, that is not the way
of progress and certainly not the principles that this Country was founded on.
     
     
Regards
Bruce Matyas