Subject: FileNo. S7-5-99
Author:  <BVRS@aol.com> 
Date:    5/3/99 8:49 PM
     
     
Your proposed amendment to Rule 15C2-11 will impose hardship on small 
companies.  Biltmore Vacation Resorts, Inc. is opposed to such an amendment.
     
George Wuagneux
President/CEO