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                     UNITED STATES OF AMERICA
                            before the
                SECURITIES AND EXCHANGE COMMISSION

INVESTMENT ADVISERS ACT OF 1940
Rel. No. 1586 / September 27, 1996   

Admin. Proc. File No. 3-8766
----------------------------------------                          
                                        :
            In the Matter of            :
                                        :
             MILTON PURYEAR             :
           51 President Street          :
           Brooklyn, New York           :
                                        :
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NOTICE THAT INITIAL DECISION HAS BECOME FINAL

     The time for filing a petition for review of the initial
decision in this proceeding has expired.  No such petition has
been filed with respect to Milton Puryear, and the Commission has
not chosen to review the decision on its own initiative.

     Accordingly, notice is hereby given, pursuant to Rule 360(e)
of the Commission's Rules of Practice, that the initial decision
of the administrative law judge -[1]- has become the final
decision of the Commission.  The order contained in that decision
barring Milton Puryear from association with any investment
adviser is hereby declared effective.

     By the Commission.




                                   Jonathan G. Katz
                                      Secretary              











---------FOOTNOTES----------
     -[1]-     Milton  Puryear, Initial  Decision Release  No. 95
               (August 12, 1996), 62 SEC Docket 1755.