Date:    4/6/99  1:27 PM

Subject: File No. S7-5-99

TO:     Securities and Exchange Commission 
FROM: Donald L. Anderson, VP Investor Relations 
Gateway Energy Corporation (GNRG OTC BB)
     
Having been active in the Securities Industry from 1956-1996, I am compelled 
to comment on the proposed rule amendments that are under consideration.
     
This would impose "double jeopardy" on market makers as well as shareholders 
and management of small/micro cap companies.  Why should market makers suffer 
from this increased liability from market making activities?  
     
As an officer and shareholder of a Company whose shares are traded on the 
Bulletin Board (BB) I have seen over the years, a "raising of the bar" for all 
BB and Pink Sheet quoted companies.  WE ARE ALL IN FAVOR OF AUDITED STATEMENTS 
AND RESULTS FILED REGULARLY WITH THE SEC!  That is the essence of the original 
filings required by the 1933/34 act.  The public should be provided with all 
the accurate and truthful data by each company whose securities trade 
publicly, but why impose such punitive rules on those who have a valid 
business, report regularly, whose statements are both sound and audited by 
recognizeable CPA firms.  
     
You are about to kill enterprise and entrepreneuralism in this country.  Just 
delist, or stop trading in those companies who are deliquent in their filing, 
or who fail to meet some regular balance sheet and earnings tests........or by 
the same logic that any firm can file a registration statement resulting in a 
securities offering why do you penalize those firms who are building their 
businesses in a business-like and acceptable manner.  Let the public, who 
should be provided with truthful and complete data, make up their own minds.
A $4.00 price barrier seems to be rather unrealistic and inconsistent for a 
"let-alone" policy by the regulators.
     
Respectfully submitted,
     
Donald L. Anderson