Notice To Members 89-29

SOES Tier Levels to Change for 575 Issues on March 17, 1989

Published Date:

March 01, 1989

SUGGESTED ROUTING*

Senior Management
Internal Audit
Operations
Trading

*These are suggested departments only. Others may be appropriate for your firm.

On June 30, 1988, the maximum SOES order size for all NASDAQ National Market System (NASDAQ/NMS) securities was established as follows:

A 1,000-share maximum order size was applied to those NASDAQ/NMS securities that had an average daily nonblock volume of 3,000 shares or more a day, a bid price that was less than or equal to $100, and three or more market makers.
A 500-share maximum order size was applied to those NASDAQ/NMS securities that had an average daily nonblock volume of 1,000 shares or more a day, a bid price that was less than or equal to $150, and two or more market makers.
A 200-share maximum order size was applied to those NASDAQ/NMS securities that had an average daily nonblock volume of less than 1,000 shares or more a day, a bid price that was less than or equal to $250, and less than two market makers.

These order-size tiers were set by the NASD after extensive research and polling of all NASDAQ/NMS market makers. The purpose of establishing these tiers was to provide public investors with the most efficient means of handling their small orders while ensuring that market makers were not required to assume unrealistic risks under the new mandatory SOES participation rules.

At the time of their establishment, the NASD Trading Committee and Board of Governors decided that the tier levels applicable to each security would be reviewed periodically to determine if the trading characteristics of the issue had changed so as to warrant a SOES tier-level move. Such a review was conducted as of December 30, 1988, using the aforementioned formula and fourth-quarter trading data. The results of this review were analyzed by the Mandatory SOES Subcommittee and the NASD Trading Committee, which recommended that changes in SOES tier levels should be implemented per the formula calculation with the exception that an issue would not be permitted to move more than one level.

To further explain, if an issue previously was categorized in the 200-share tier, it would not be permitted to move to the 1,000-share tier even if the formula calculated that such a move was warranted. The issue could move only one level to the 500-share tier as a result of any single review. Likewise, a security previously assigned to the 1,000-share tier could move only to 500 shares, regardless of the formula calculation. Only 29 issues were affected by this change. In adopting this policy, the Committee was attempting to minimize market-maker exposure on issues for which the tier level increased and to maintain adequate public investor access on issues for which the tier level decreased.

The Committee also recognized that the formula used to assign the tier levels cannot always accurately reflect the trading characteristics for each issue. As such, market makers are reminded that the Mandatory SOES Subcommittee will review on a case-by-case basis suggested tier-level changes if a significant number of market makers in that issue believe such a change is warranted. For more information regarding this process, please contact NASDAQ Operations - Companies at (202) 728-8039.

Following is a listing of the NASDAQ/NMS issues that will require a SOES tier-level change on March 17, 1989.

NASDAQ/NMS SOES CHANGES

All Issues in Alphabetical Order by Name

Symbol	Company Name	Old Tier Level	New Tier Level
SRCE	1ST SOURCE CORP	200	500
ABQC	ABQCORP	200	500
ABSI	ABS INDUSTRIES	200	500
ACMT	ACMAT CORP	500	200
ALTI	ALTAIINC	200	500
ACPT	ACCEPTANCE INS HLDGS	500	1000
AXXN	ACTION AUTO RENTAL	500	1000
AAST	ACTION AUTO STORES	1000	500
ACTP	ADVANCE COMP TECH	500	1000
AROS	ADVANCE ROSS CORP	1000	500
ASMIF	ADVANCED SEMICONDUCT	500	1000
ADCOW	ADVANTAGE COS INC WTS	500	200
AEGNY	AEGON N.V. AIM	500	1000
AIMT	TELEPHONES INC AIRCOA	500	1000
AIRC	HOSPITALTY S V ALFA	1000	500
ALFA	CORP	500	1000
ALCI	ALLCITY INSURANCE CO	200	500
ALFL	ALLIANCE FINANCIAL	200	500
ALRN	ALTRON INC	200	500
AFGI	AMBASSADOR FINANCIAL	500	1000
AMFI	AMCORE FINANCIAL INC	1000	500
ACGI	AMER CAPACITY GP AMER	1000	500
AMJX	FED SV BK DUVAL AMER	200	500
AMMG	MAGNETICS CORP AMER	500	1000
ANSY	NURSERY PRODUCT AMER	500	1000
AMPH	PHYSICIANS SVC AMER	500	1000
ARIG	RELIANCE GP INC AMER	500	1000
RICE	RICE INC	500	1000
AMFLP	AMERSLFLPFDA AMER	200	500
AMGD	VANGUARD CP AMERICA	500	200
ATAXZ	FRST TX 2 LP AMERICA	500	1000
AFTXZ	FRST TX LP AMERICA FST P	500	1000
AFPFZ	P E AMOSKEAG CO	500	1000
AMOS	ANALYSIS TECHNOLOGY	500	200
AATI	ANCHOR SAVS LN ASSOC	1000	500
ANSL	ANDOVER TOGS INC	1000	500
ATOG	APPLIED SOLAR ARABIAN	500	1000
SOLR	SHIELD DEV ARIZONA	200	500
ARSD	INSTRUMENT ARROW	500	1000
AZIC	BANK CP ASIAMERICA SBI	500	1000
AROW	ASSOC BANC CP ASTEC	200	500
AEZNS	INDS INC ASTRONICS CP	200	500
ASBC	ATEK METALS CENTER	1000	500
ASTE	ATLANFED BNCP INC	500	1000
ATRO	ASTRONICS CP	200	500
ATKM	ATEK METALS CENTER	500	1000
AFED	ATLANFED BNCP INC	200	500
ATBC	ATLANTIC BANCORP	200	500
APER	ATLANTIC PERM SV FSB	500	1000
ATWD	ATWOOD OCEANICS INC	200	500
ATTC	AUTO TROL TECH	1000	500
ASII	AUTOMATED SYSTEMS	500	1000
BHAGA	AB HA GROUP INC A	500	1000
BNHB	B N H BANCSHARES INC	500	1000
BTFC	BT FINANCIAL CORP	200	500
BBGS	BABBAGES INC	500	1000
BPMI	BADGER PAPER MILLS	200	500
BPOP	BANCO POPULAR DE P R	500	1000
BMCC	BANDO MCGLOCKLIN CAP	500	1000
BDEL	BANK OF DELAWARE CORP	500	1000
GRAN	BANK OF GRANITE	500	200
ASAL	BANK ATLANTIC FED	1000	500
BIOW	BANKS OF IOWA INC	1000	500
BLAU	BARRY BLAU PARTNERS	500	200
BASEA	BASE TEN SYSTEMS A	500	1000
BAYL	BAYLY CP	1000	500
BLLW	BELL WAND CO INC	1000	500
BMEEF	BELMORAL MINES LTD	500	1000
BGAS	BERKSHIRE GAS CO	200	500
BFSI	BFS BANKORP INC	1000	500
BIRT	BIRTCHER CORP THE	200	500
BMRG	BMR FINANCIAL GP INC	1000	500
BOON	BOONTON ELECTRONICS	1000	500
BOSA	BOSTON ACOUSTICS INC	1000	500
BOST	BOSTON DIGITAL CORP	1000	500
BLVD	BOULEVARD BANCORP	1000	500
BRAE	BRAE CP	500	1000
BRJS	BRAJDAS CORP	200	500
BSBC	BRANFORD SAVINGS BK	500	200
BRID	BRIDGFORD FOODS CORP	500	200
BRLN	BROOKLYN SAV BK THE	500	1000
BTCI	BROWN TRANSPORT CO	1000	500
BMTC	BRYN MAWR BK CORP	500	200
BANQ	BURRITTINTRFIN BNCP	500	1000
BUTL	BUTLER NATL CORP	1000	500
CBTB	CB ANDTBKSHS	500	1000
CCBF	C C B FIN CORP	500	1000
CCNC	C C N B CORP	500	1000
CKSB	C K FED SAV BK	500	200
CNMD	CONMEDCORP	500	1000
CPSL	CSC INDS INC	500	1000
CWTR	CALWATERSVCCO	500	1000
CFHC	CALIFORNIA FIN HLDG	500	1000
CCBT	CAPECODBKTRCO	200	500
CAFS	CARDINAL FED SAV BK	200	500
CPLSZ	CARE PLUS WTS 90 A	200	500
CCTVY	CARLTON COMMUN ADR	500	1000
CASC	CASCADE CORP	500	1000
KOSM	CASCADE INTL INC	500	1000
CMLE	CASUAL MALE CORP THE	500	1000
CAYB	CAYUGA SAVINGS BANK	500	200
CHOL	CENTRAL HOLDING CO	1000	500
CJER	CENTRAL JERSEY BNCP	500	1000
CJSB	CENTRAL JERSEY SAV	1000	500
CPSA	CENTRAL PENN FIN CORP	500	1000
CNBKA	CENTURY BANCORP A NV	500	1000
CERB	CERBCO INC	1000	500
CSTIF	CHALLENGER INTL LTD	200	500
CHCR	CHANCELLOR CORP	500	200
CAKE	CHARLOTTE CHARLES	200	500
CRTR	CHARTER CRELLIN INC	200	500
CHTT	CHATTEM INC	200	500
CTCQ	CHECK TECH CORP	500	1000
CHMXZ	CHEMEX PHARM 1 WTS	200	500
CFIXW	CHEMFIX TECH WTS 89	1000	500
CMFB	CHEMICAL FABRICS CORP	1000	500
CLEA	CHEMICAL LEAMAN INC	200	500
CHER	CHERRY CORP	500	1000
CHPK	CHESAPEAKE UTILCORP	500	200
DOCKS	CHICAGO DOCK SBI	500	1000
CPCI	CIPRICO INC	500	1000
CIBC	CITIZENS BANCORP	500	1000
CIBA	CITIZENS BANK	200	500
CINAV	CITIZENS INC A WI	500	1000
CISA	CITIZENS SAV BK NY	500	1000
CTRIS	CLEVETRUST RLTY SBI	1000	500
CLDR	CLIFFS DRILLING CO	500	1000
CLDRP	CLIFFS DRILLING PFD	200	500
CLSC	CLINICAL SCIENCES	1000	500
CGAS	CLINTON GAS SYS	200	500
CODL	CODE ALARM INC	500	1000
CABK	COLONIAL AMER BKSHS	200	500
CLRXL	COLOROCS CORP D WTS	200	500
CLRXW	COLOROCS CORP WTS C	1000	500
CMDT	COMDATA HOLDINGS CORP	1000	500
CMCAP	COMERICAINCPFDB	500	200
COBA	COMMERCE BNCP INC NJ	200	500
CNCL	COMMERCIAL NATL LA	200	500
CCAB	COMMUN + CABLE INC	500	1000
CTIA	COMMUN TRANSMITN	200	500
CBNH	COMMUNITY B ANKSHARES	500	1000
CNET	COMNET CORP	1000	500
CMUC	COMP U CHECK INC	200	500
CLRI	COMPUTER LANGUAGE	1000	500
CSTK	COMSTOCK GROUP INC	500	1000
CMRE	COMSTOCK RESOURCE	1000	500
LENS	CONCORD CAMERA CORP	500	1000
CEFT	CONCORD COMPUTING CORF	500	1000
CSTP	CONGRESS STREET PROP	200	500
CBNE	CONSTITUTION BNCP NE	200	500
CFINP	CONSUMERS FIN CORP PFD	200	500
CFIN	CONSUMERS FINANCIAL	200	500
CONH	CONTL HOMES HOLDING	500	1000
CSTN	CORNERSTONE FIN CORP	500	1000
CSMO	COSMO COMMUN CORP	500	1000
CDGI	COURIER DISPATCH GP	200	500
CRCC	CRAFTMATIC CONTOUR	500	1000
CRAN	CROWN ANDERSEN INC	500	1000
DOCO	DOC OPTICS CORP	200	500
DARTA	DART GROUP CORP CL A	1000	500
DKEY	DATAKEY INC	500	1000
DMAR	D ATAM ARINE INTL INC	500	200
DSCC	DATASOUTH COMPUTER	200	500
DTSI	DATRON SYSTEMS INC	500	1000
DEER	DEERFIELD FED SAV LN	500	200
DELE	DEL ELECTRONICS CORP	500	200
DETC	DETECTION SYSTEMS	500	1000
DTOMC	DETOMASOINDS INC	1000	500
DTRX	DETREX CORP	200	500
DEVC	DEVCON INTL CORP	500	200
DEVN	DEVON GROUP INC	1000	500
DCPI	DICK CLARK PROD INC	1000	500
DION	DIONICS INC	200	500
DFED	DOMINION FED SAV LN	500	1000
DGIC	DONEGAL GROUP INC	200	500
DOUG	DOUGLAS AND LOMASON	1000	500
DRTK	DURATEK CORP	500	1000
DUCO	DURHAM CORP	500	1000
EIPM	E I P MICROWAVE INC	1000	500
EMSIF	EMS SYSTEMS LTD	500	200
EWAT	E TOWN CORP	200	500
EWSCA	E W SCRIPPS CO A	500	1000
EZEM	E Z EM INC	1000	500
EBCI	EAGLE BANCP INC	500	200
EASTS	EASTOVER CP SBI	200	500
EATO	EATON FINANCIAL CORP	500	1000
EAVN	EATON VANCE CORP	1000	500
ELBTF	ELBIT COMPUTERS LTD	500	1000
ELCN	ELCO INDS INC	500	1000
ELSE	ELECTRO SENSORS INC	500	200
EDAT	ELECTRONIC DATA TECH	500	1000
EFSB	ELMWOOD FED SAV BANK	500	1000
EMPI	EMPI INC	500	1000
ECRC	EMPLOY CASUALTY CO	500	1000
ENNI	ENERGYNORTH INC	500	1000
ENEX	ENEX RESOURCE CORP	1000	500
EMCO	ENGINEERING MEASURE	500	1000
ENZNW	ENZONINCWTSA89	500	200
EPSI	EPSILON DATA MGMT	500	1000
EQUI	EQUION CORP THE	500	1000
ERLY	ERLY INDUSTRIES	500	1000
EVAN	EVANS INC	1000	500
FHPC	F H P INTL CORP	500	1000
FNBR	F N B ROCHESTER CORP	200	500
FCBK	FAIRFIELD COUNTY BNC	200	500
FARA	FARADYNE ELECT CORP	200	500
FHFC	FARM HOUSE FOODS CORP	1000	500
FARM	FARMER BROTHERS CO	200	500
FARR	FARRAGUT MTG CO INC	1000	500
BAYA	FEDERAL SAV BK OF PR	1000	500
FSCR	FEDERAL SCREW WORKS	200	500
FEDF	FEDERATED FIN SAV LN	500	1000
FFMA	FIDELITY FED SAV BK	200	500
FAMF	FIRST AMFED CORP	200	500
FCAP	FIRST CAPITAL CORP	1000	500
FCTR	FIRST CHARTER CORP	200	500
FFCS	FIRST COLORADO FIN	200	500
FCRES	FIRST CONTL R E SBI	500	1000
FEXCW	FIRST EXEC WTS 90	500	1000
FFAL	FIRST FED ALABAMA	200	500
FCHT	FIRST FED CHATTANOOG	500	1000
FFHP	FIRST FED HARRISBURG	500	200
FFES	FIRST FED SLHRTFD	1000	500
FFSD	FIRST FED SAV BK AL	500	1000
LFSA	FIRST FED SAV LENAWE	500	1000
FFCH	FIRST FINANCIAL HLDG	500	1000
FSEB	FIRST HOME FED SV LN	200	500
FSPG	FIRST HOME SAV BK	200	500
FLFC	FIRST LIBERTY FIN	500	1000
MTCL	FIRST NATL BANK CORP	200	500
FOBBA	FIRST OAK BROOK CL A	1000	500
FSKY	FIRST SECURITY CORP KY	1000	500
FWNY	FIRST WOMENS BANK	200	500
FAME	FLAMEMASTER CP THE	200	500
FLAEF	FLORIDA EMP INS CO	200	500
FRKT	FLORIDA ROCK TANK	1000	500
FSNR	FORSCHNER GROUP THE	500	200
FWNC	FORT WAYNE NATL CORP	1000	500
FRMBF	FORUM RE GP BERMUDA	1000	500
DNNY	FRANCES DENNEY COS	500	1000
FKFD	FRANKFORD CORP THE	500	200
FSAK	FRANKLIN SV GUAR STK	500	200
FRTR	FRONTIER INS GROUP	500	1000
FULT	FULTON FINANCIAL CORP	500	1000
GBCB	G B C BANCORP	200	500
XRAY	G E N D E X CORP	500	200
GMED	G M I GP INC THE	500	1000
GNUC	G N I GROUP INC THE	1000	500
GBAN	GATEWAY BANCORP INC	500	200
GCER	GEN CERAMICS INC	500	1000
GMCC	GEN MAGNAPLATE CORP	200	500
GDYN	GEODYNAMICS CORP	1000	500
GEOX	GEONEX CORP	500	1000
GWSH	GEORGE WASHINGTON CORP	500	200
GMFD	GERMANIA BANK FSB	500	1000
GBYLF	GIANT BAY RES LTD	1000	500
GIGA	GIGA TRONICS INC	1000	500
GISH	GISH BIOMEDICAL INC	500	1000
GOOD	GOODY PRODUCTS INC	1000	500
GSBI	GRANITE STATE BKSHS	1000	500
GFGC	GREAT FALLS GAS CO	500	200
GSFB	GREAT SO FED SAV BK	500	1000
GSSC	GRENADA SUNBURST SYS	500	1000
GRIF	GRIFFIN TECHNOLOGY	200	500
GROV	GROVEBANK FOR SAV	1000	500
GATS	GULF APPLIED TECH	200	500
GULL	GULL LABS INC	500	1000
HHOT	HH OIL TOOL CO INC	500	200
HWCD	H W C DISTRIB CORP	500	1000
HAKO	HAKO MINUTEMAN INC	200	500
HRLN	HARLYN PRODUCTS INC	200	500
HRMN	HARMON INDS INC	1000	500
HRLD	HAROLDS STORES INC	1000	500
HVDK	HARVARD KNITWEAR INC	500	1000
HASR	HAUSERMAN INC	200	500
HAVT	HAVERTY FURNITURE CO	1000	500
HIMGP	HEALTH IMAGES PFD A	200	500
HELX	HELIX TECHNOLOGY INC	1000	500
HERS	HERITAGE FINL SVC IL	1000	500
HIWDF	HIGHWOOD RESOURCES	500	1000
HFGA	HOME FED SAV BK GA	500	200
HFNO	HOME FED SAV BK OH	500	200
HFSF	HOME FED SAV LN SF	1000	500
HROK	HOME FED SAV ROCKIES	200	500
HOMF	HOME FED SV SEYMOUR	1000	500
HFSLP	HOME OWNERS PFD A	500	1000
HSLD	HOME SAVINGS LOAN	500	1000
HUSB	HOME UNITY SAV LOAN	500	1000
HMSD	HOMESTEAD SAV ASSOC	500	200
HOSP	HOSPOSABLE PROD INC	500	1000
HOBC	HOWARD BANCORP	200	500
HUHOW	HUGHES HOMES INC WTS	200	500
HTEK	HYTEK MICROSYSTEMS	500	1000
ICOC	ICO INC	200	500
IISLFI	ISINTELL INFO	500	1000
ILCT	I L C TECH INC	500	1000
IPLSA	I P L SYSTEMS me A	500	1000
INCRF	INCA RESOURCES	500	1000
IACI	IND ACOUSTICS CO	200	500
INDHK	INDEPmSGPINCNV	500	1000
INDB	INDEPENDENT BANK CORP	200	500
IBCP	INDEPENDENT BK CORP MI	500	1000
INSI	INFO SCIENCES INC	1000	500
INRD	INRAD me	200	500
IGLWF	INSITUFORM GP LTD WT	500	200
IFED	INTER FED SAV BANK	500	200
ITXIW	INTERACTIVE TECH WTS	200	500
IMET	INTERMETRICS	500	1000
ICEYF	INTL CAP EQUIP LTD	200	500
ICSI	INTL CONTAINER SYS	1000	500
ISLH	INTL HOLDING CAP CORP	500	200
IMMCW	INTL MOBILE MACH WTS	500	1000
IUTL	IOWA SOUTHERN INC	1000	500
JTELM	ITELCPCLBPFDC	500	200
JGIN	J G INDUSTRIES INC	500	1000
JMBRS	JMB REALTYTRSBI	200	500
JEFG	JEFFERIES GROUP me	1000	500
JFFN	JEFFERSON BANK	500	200
JGRP	jesup gp me the	1000	500
JHSN	JOHNSON ELECTRONICS	500	1000
JMED	JONES MEDICAL INDS	1000	500
JOSL	JOSLYN CORP	1000	500
KTCO	KENAN TRANSPORT CO	200	500
KVLM	KEVLIN MICROWAVE	1000	500
KNAP	KNAPE AND VOGT MFG	500	1000
KUST	KUSTOM ELECTRONICS	1000	500
KWIKF	KWIK PROD INTL CORP	500	200
LDBC	L D B CORP	1000	500
LDIC	L D I CORP	500	1000
LPLI	L P LINVESTMNT GP A	500	1000
LVMHY	LVMHMOETADR	500	200
LDMFA	LAIDLAW TRANS LTD A	500	200
LSNB	LAKE SHORE BANCORP	200	500
LLSL	LAKELAND SAV BK SLA	500	1000
LMAC	LANDMARK AMERICAN CORP	1000	500
LDMK	LANDMARK BK FOR SAV	500	200
LCOR	LANGLY CORP DELAWARE	500	200
LSER	LASER CORP	200	500
LAUR	LAUREL ENTERTAINMENT	500	1000
LEXP	LEXINGTON PRECISION	500	1000
LNBC	LIBERTY NATL BNCP	1000	500
LFIN	LINCOLN FINANCIAL CORP	500	1000
LLOG	LINCOLN LOGS LTD	500	200
LIQB	LIQUI BOX CORP	500	1000
LOCL	LOCAL FED S VGS LOAN	500	1000
LUND	LUND ENTERPRISES INC	200	500
MBSX	MBS TEXTBOOK EXCH	500	1000
MKCO	M KAMENSTEIN INC	500	200
MPSG	M P S I SYSTEMS INC	1000	500
MANA	MANATRON INC	1000	500
MRTA	MARIETTA CORP	1000	500
MCOR	MARINE CORP ILL	1000	500
MTLI	MARINE TRANS LINES	200	500
MRTN	MARTEN TRANSPORT LTD	1000	500
MAYF	MAYFAIR INDS INC	1000	500
MFFC	MAYFLOWER FIN CORP	200	500
MOIL	MAYNARD OIL CO	200	500
MCCL	MCCLAIN INDUSTRIES	200	500
MGLL	MCGILL MANUFACTURING	500	200
MGRC	MCGRATH RENT CORP	1000	500
MTDf	MECHANICAL TECH INC	1000	500
MGCO	MEDICARE GLASER CORP	500	1000
MDTA	MEGADATA CORP	500	1000
MCBKB	MERCHANTS CAP CP B	200	500
MRDNP	MERIDIAN BNCP PFD	500	200
KITS	MERIDIAN DIAGNOSTICS	500	1000
MTRO	METRO TEL CORP	500	1000
MS LA	METROPOLITAN FIN S L	500	1000
MWAV	MICROWAVE LABS INC	500	1000
MIAM	MID AM INC	200	500
MMSB	MID MAINE SAV BK FSB	200	500
MIDS	MID SOUTH INS CO	500	1000
MSRR	MIDSOUTH CORP	500	1000
MILT	MILTOPE GROUP INC	200	500
MLAB	MONITOR TECH INC	500	1000
MORP	MOORE PRODUCTS CO	500	200
MFGR	MORSEMERE FINANCIAL	1000	500
MOTOZ	MOTO PHOTO WTS 89	200	500
MUEL	MUELLER PAUL CO	500	200
LABL	MULTI COLOR CORP	1000	500
MUNI	MUNICIPAL DEV CORP	500	200
MFBZ	MUTUAL FED SAVS BK	1000	500
MYCO	MYCOGEN CORP	1000	500
NWGI	NW GROUP INC SI	200	500
NCBM	NATL CITY BNCP	200	500
NCBC	NATL COMMERCE BNCP	1000	500
NHMO	NATL HMO CORP	200	500
MB LA	NATL MERCANTILE BNCP	200	500
NPBC	NATL PENN BSCHS INC	200	500
NSSX	NATL SANITARY	200	500
NSBA	NATL SAV BK ALB NY	500	1000
NWLIA	NATL WESTERN LIFE A	1000	500
NBTY	NATURES BOUNTY INC	1000	500
NAVG	NAVIGATORS GP INC	1000	500
NEWE	NEWPORT ELECTRONICS	500	1000
NVCO	NODAWAY VALLEY CO	500	200
NOLD	NOLAND CO	200	500
NMDY	NORMANDY OIL GAS	500	1000
NAMC	NORTH AMER NATL CORP	200	500
NCNG	NORTH CARO NAT GAS	1000	500
NAFI	NORTHERN AIR FREIGHT	500	1000
NOWT	NORTHWEST TELECOM	200	500
NWTL	NORTHWEST TELEPROD	500	200
NSTS	NORTHWESTN ST PORT	1000	500
NSSI	NUCLEAR SUPPORT SVCS	500	1000
NUCO	NUCORP INC DELAWARE	1000	500
NUMR	NUMEREX CORP	500	1000
OGLE	OGLEBAY NORTON CO	500	1000
OHBC	OHIO BNCP YOUNGSTOWN	200	500
OILC	OIL DRI CORP OF AMER	1000	500
ODSI	OLD DOMINION SYSTEMS	500	1000
OPTO	OPTO MECHANIK INC	500	1000
OFSB	ORIENTAL FED SAV BK	1000	500
OSBN	OSBORN COMMUN CORP	1000	500
OCOAC	OUTLET COMMUN INC A	1000	500
PDAS	PDA ENGINEERING	500	1000
PHPH	PHP HEALTHCARE CORP	500	200
PABC	PACIFIC BANCP	200	500
PALM	PALFED INC	500	1000
PNRE	PAN ATLANTIC RE INC	500	200
PVSA	PARKVALESAVASSN	500	1000
PKWY	PARKWAY CO	200	500
PRLX	PARLEX CORP	500	1000
PATK	PATRICK INDS INC	500	1000
PAXTA	PAXTON FRANK CO A	200	500
PENT	PENN ENTRPR INC	1000	500
PTAC	PENN TREATY AMER CORP	1000	500
PNTAP	PENTAIR INC PFD 87	200	500
PBNB	PEOPLES SAV BK OF NB	1000	500
PTRL	PETROL INDS INC	200	500
PHMT	PHONEMATE INC	500	1000
PGEN	PLANT GENETICS INC	200	500
PNBT	PLANTERS CORP	1000	500
SIGN	PLASTI LINE INC	500	1000
PLZA	PLAZA COMMERCE BNCP	500	1000
PLXS	PLEXUS CORP	1000	500
POLK	POLK AUDIO INC	1000	500
PRME	PRIME CAPITAL CORP	200	500
PMBK	PRIMEBANK FED SAV BK	200	500
PROP	PRODUCTION OPER	500	1000
PRFT	PROFFITT S INC	1000	500
PSYS	PROGRAMMING AND SYS	500	1000
PFNC	PROGRESS FINANCIAL	200	500
PVNA	PROVENA FOODS INC	200	500
PFSL	PRUDENTIAL FIN SVCS	200	500
QFCI	QUALITY FOOD CENTERS	1000	500
QTEC	QUESTECH INC	200	500
RRMN	RAILROADMENS FED IND	200	500
RMPO	RAMAPO FINANCIAL CORP	200	500
RATNY	RATNERSGPADR	1000	500
RDGC	READING CO	500	1000
REAL	RELIABILITY INC	500	1000
RSFC	REPUBLIC SAV FIN CORP	500	1000
RESR	RESEARCH INC	200	500
RESP	RESPIRONICS INC	1000	500
RCOA	RETAILING CORP AMER	200	500
REXW	REXWORKS INC	500	1000
RHPOY	RHONE POULENC SA ADR	1000	500
RSGI	RIVERSIDE GP INC	500	200
RDWI	ROADWAY MOTOR PLAZA	500	1000
RESC	ROANOKE ELEC STEEL	500	1000
RCBI	ROBERT C BROWN CO	500	1000
RNIC	ROBINSON NUGENT INC	500	1000
RCDC	ROSS COSMETICS DIST	500	1000
ROTO	ROTO ROOTER INC	1000	500
ROTO	ROTO ROOTER INC	1000	500
ROYLW	ROYALPARINDS WTS A	1000	500
RULE	RULE INDS INC	500	1000
RBCO	RYAN BECK CO INC	500	1000
SKFB	S K FAMOUS BRANDS	500	200
SNLFA	S N L FINANCIAL CORP A	1000	500
SGHB	SAG HARBOR SAV BK	1000	500
SNDS	SANDS REGENT THE	500	1000
SHEF	SANDWICH CHEF INC	200	500
SWCB	SANDWICH CO OP BANK	1000	500
SAXO	SAXON OIL CO	1000	500
SWARA	SCHWARTZ BROS INC A	1000	500
SCIE	SCICOM DATA SERVICES	200	500
SIDY	SCIENCE DYNAMICS CORP	1000	500
SSFT	SCIENTIFIC SOFTWARE	500	1000
STIZ	SCIENTIFIC TECH INC	1000	500
SCOT	SCOTT AND STRINGFELL	200	500
SEAB	SEABOARD SAVINGS LN	200	500
SGOPP	SEAGULL ENERGY PFD A	200	500
SFGI	SECURITY FINL GP INC	500	200
SLRV	SELLERSVILLE SAV LN	200	500
SNCO	SENSOR CONTROL CORP	500	1000
SERF	SERVICE FRACTURING	1000	500
SSAL	SHELTON SAV BANK	500	200
SHOP	SHOPSMITH INC	200	500
SHOW	SHOWSCAN FILM CORP	500	1000
SETBS	SIERRA RL EST 83 SBI	200	500
SIVB	SILICON VALLEY BNCSH	200	500
TWRX	SOFTWARE TOOLWKS INC	500	1000
SOMR	SOMERSET GP INC THE	500	200
SMGS	SOUTHEASTERN MI GAS	500	1000
SESL	SOUTHEASTERN SAV LN	500	1000
SWTR	SOUTHERN CA WATER CO	1000	500
SSBB	SOUTHINGTON SAV BK	500	200
SPEK	SPEC S MUSIC INC	500	1000
STRS	SPROUSE REITZ STR NV	200	500
STPT	STARPOINTE SAVS BK	500	1000
SOME	STATE O MAINE INC	200	500
STOT	STOTLER GP INC	1000	500
SMMT	SUMMIT SAV ASSOC	500	200
SCSL	SUNCOAST SAV LOAN	1000	500
SURV	SURVIVAL TECH INC	1000	500
SUSQ	SUSQUEHANNA BCSHS	500	1000
SCAPY	SVENSKA CEL ADR SPON	500	200
SIBR	SYBRAINC	500	200
TSRI	TSRINC	500	1000
TVXGC	T V X BROADCAST GP	500	1000
TVLA	TACO VILLA INC	200	500
TCII	TCI INTERNATIONAL	500	1000
TCCO	TECHNICAL COMMUN CORP	500	1000
TDCX	TECHNOLOGY DEV CORP	200	500
TCOMB	TELE COMMUN INC B	200	500
TOPT	TELE OPTICS INC	500	1000
TLMD	TELEMUNDO GROUP INC	500	1000
TELQ	TELEQUEST INC	1000	500
TMTX	TEMTEX INDS INC	200	500
TFLX	TERMIFLEX CORP	200	500
TMSTA	THOMASTON MILLS A	200	500
TIER	TIERCO GROUP INC	500	200
TODDA	TODDAOCORPCLA	1000	500
TOBK	TOLLAND BANK	200	500
TLAM	TONY LAMA CO INC	500	200
TRGL	TOREADOR ROYALTY CORP	500	1000
TGDGF	TOTAL ENERGOLD CORP	500	1000
TLII	TRANS LEASING INTL	200	500
TRSL	TRANSNATIONAL IND	200	500
TRTI	TRANSTECH IND INC	500	1000
TCBC	TRUST CO BNCP THE	200	500
TDRLF	TUDOR CORP LTD	1000	500
ULTB	ULTRA BNCP	1000	500
UGNEW	UNIGENE LABS WTS A	200	500
UBNK	UNION BK	200	500
UBKR	UNITED BANKERS TX	500	1000
UBSI	UNITED BKSHS INC	200	500
UFCS	UNITED FIRE CASUALTY	1000	500
BNKS	UNITED N M FIN CORP	1000	500
USBK	UNITED SAV BK VA	500	200
UVTB	UNITED VERMONT BNCP	200	500
UTRX	UNITRONIX CORP	500	1000
VCCN	VALLEY CAPITAL CORP	500	1000
VNBP	VALLEY NATIONAL BNCP	500	1000
VALU	VALUE LINE INC	1000	500
VANZ	VANZETTI SYSTEMS INC	500	1000
VRLN	VARLEN CORP	500	1000
VTEX	VERTEX COMMUN CORP	1000	500
VICT	VICTORIA BKSHS	500	1000
VIDE	VIDEO DISPLAY CORP	1000	500
VKSI	VIKONICS INC	1000	500
VLGEA	VILLAGE SUPER MKT A	1000	500
VFSB	VIRGINIA FIRST SV BK	200	500
VOLT	VOLT INFO SCIENCES	500	1000
WCRSY	W C R S PLC ADR	500	200
WNSI	WNSINC	1000	500
WTWS	WALL WALL SOUND VID	500	1000
WALS	WALSHIRE ASSURANCE	1000	500
WFSB	WASHINGTON FED SAV	500	1000
WATFZ	WATERFORD GL ADR UTS	500	200
WTRS	WATERS INSTRUMENTS	200	500
WEBS	WEBSTER CLOTHES INC	500	1000
WGHT	WEIGH TRONIX INC	1000	500
WNDT	WENDT BRISTOL CO	500	200
WSBK	WESTERN BANK OREGON	500	200
WMIC	WESTERN MICROWAVE	1000	500
WBAT	WESTPORT BNCP INC	500	200
WTPR	WETTERAU PROPERTIES	200	500
WTOY	WISCONSIN TOY CO INC	1000	500
WRTC	WRITER CORP THE	1000	500
WYNB	WYOMING NATL BNCP	200	500
ZSEV	Z SEVEN FUND INC THE	200	500
ZIGO	ZYGO CORP	200	500