Subject: S7-25-97
 
Date:    11/15/97 4:02 PM
     
     
Attn: Mr. Jonathon Katz
This e-mail is in response to proposed changes in SEC regulations 
concerning the filing and voting on stockholder resolutions.  I make 
these comments as an investor with a portfolio of slightly over $275,000 
in stocks and mutual funds.  
     
I strongly oppose the proposed changes, or any similar changes which 
would have the effect of making it more difficult for stockholders to 
file resolutions with the company.  I have never filed such an action, 
but have often believed that it is the best interest of the company, of 
myself, and of the public good to support such actions.
     
Mr. Katz, these stockholder resolutions are the only ways that a small 
investor like myself has of effecting the management of the company of 
which I am part owner.  I am glad to be a stockholder (despite last 
month, 1997 has been a great year), and I feel that the possibility of 
stockholder resolutions allows me to remain an active investor while 
still maintaining a sense of the need for corporate responsibility. 
Without stockholder resolutions, the only responsible alternative for me 
would be to find some other (less profitable) course of investment.
     
I hope that the rules governing the filing and continued voting on 
stockholder resolutions will not be changed.
     
Thank You,
Douglas Orbaker