UNITED STATES OF AMERICA
                            Before the
                SECURITIES AND EXCHANGE COMMISSION

Securities Exchange Act of 1934 
Release No. 38475 / April 3, 1997

Administrative Proceedings 
File No. 3-9285
       

-------------------------------                              
                              :
                              :    ORDER INSTITUTING PUBLIC
In the Matter of              :    ADMINISTRATIVE PROCEEDINGS
                              :    PURSUANT TO SECTION 15(b)
Jaron Equities Corp.,         :    OF THE SECURITIES
Sheridan Manhattan Group, Inc.:    EXCHANGE ACT OF 1934, MAKING
and Dermot Sheridan,          :    FINDINGS AND IMPOSING 
                              :    REMEDIAL SANCTIONS
                              :
          Respondents.        :
                              :
-------------------------------

                                I.

     The Securities and Exchange Commission ("Commission") deems
it appropriate and in the public interest that public
administrative proceedings be instituted pursuant to Section
15(b) of the Securities Exchange Act of 1934 ("Exchange Act")
against Jaron Equities Corp. ("Jaron"), a broker-dealer
registered with the Commission, Sheridan Manhattan Group, Inc.
("SMG") and Dermot Sheridan ("Sheridan").

                               II.

     In anticipation of the institution of this administrative
proceeding, Jaron, SMG and Sheridan have submitted Offers of
Settlement ("Offers"), which the Commission has determined to
accept.  Solely for the purpose of this proceeding, and any other
proceeding brought by or on behalf of the Commission, or in which
the Commission is a party, Jaron, SMG and Sheridan, without
admitting or denying the allegations contained in this Order
Instituting Public Administrative Proceedings Pursuant to Section
15(b) of the Securities Exchange Act of 1934, Making Findings and
Imposing Remedial Sanctions ("Order"), each consent to the
issuance of this Order and to the entry of the findings and the
imposition of the remedial sanctions set forth below.
==========================================START OF PAGE 2======

                               III.

     Accordingly, IT IS ORDERED that a public administrative
proceeding pursuant to Section 15(b) of the Exchange Act be, and
hereby is, instituted.

                               IV.

     On the basis of this Order and the Offers, the Commission
finds-[1]- that:

     A.   Since in or about July 1979, Jaron has been a broker-
     dealer registered with the Commission.

     B.   SMG is a Florida corporation, with offices at 2332 NE
     30th Court, Lighthouse Point, Florida 33064.  Sheridan is
     the sole shareholder of SMG.

     C.   In or about mid-September 1996, Sheridan executed a
     Purchase and Sale Agreement whereby SMG purported to
     purchase Jaron.

     D.   From in or about mid-September 1996, Jaron, SMG and
     Sheridan were aware that the funds used to purchase Jaron
     and funds used to finance Jaron's business were provided by
     an undisclosed person.  This person had been barred by the
     National Association of Securities Dealers.

     E.   Following SMG's mid-September 1996 purchase of Jaron,
     successor Jaron failed to file with the Commission an
     application on Form BD, and predecessor Jaron failed to file
     with the Commission a Form BDW. 

     F.   From September 1996 through January 1997, Jaron, SMG
     and Sheridan filed, or caused to be filed, two amendments to
     Jaron's Form BD.  Each amendment falsely reported that Jaron
     was owned by SMG, that SMG was owned by Sheridan, that there
     were no undisclosed management or control agreements and
     that there were no undisclosed sources of finance for
     Jaron's business.  Jaron, SMG and Sheridan failed to
     disclose that, in fact, SMG and Sheridan were nominees,
     enabling an unidentified person to purchase and control
     Jaron on an undisclosed basis.

     G.   From approximately September 1996 to date, Jaron, SMG
     and Sheridan willfully violated Section 15(b) of the

---------FOOTNOTES----------
     -[1]-     The findings herein are made pursuant to  Jaron's,
               SMG's and Sheridan's Offers  of Settlement and are
               not binding on any other person or entity named as
               a respondent in this or any other proceeding.
==========================================START OF PAGE 3======

     Exchange Act and Rules 15b1-3(a) and 15b3-1(a) thereunder,
     by failing to file an application for registration with the
     Commission on Form BD on behalf of successor Jaron, failing
     to file with the Commission a Form BDW on behalf of
     predecessor Jaron, and by making untrue statements of, and
     omitting to state, material facts required to be stated in
     amendments to a broker-dealer registration.

                                V.

     In view of the foregoing, the Commission finds it is in the
public interest to accept Jaron's, SMG's and Sheridan's Offers
and impose the remedial sanctions set forth below.

     Accordingly, IT IS HEREBY ORDERED that, effective
immediately, Jaron's registration with the Commission as a
broker-dealer be, and hereby is, revoked;

     It is further ORDERED that, effective immediately, SMG is
barred from association with any broker, dealer, investment
adviser, investment company or municipal securities dealer; and

     It is further ORDERED that, effective immediately, Sheridan
is barred from association with any broker, dealer, investment
adviser, investment company or municipal securities dealer.


     By the Commission.


                                   Jonathan G. Katz
                                   Secretary