SECURITIES AND EXCHANGE COMMISSION
                               Washington, D.C.  20549


             Securities Exchange Act of 1934
             Release No. 39795 / March 25, 1998


             Administrative Proceeding File No. 3-9566


             IN THE MATTER OF THOMAS ANTHONY CALISE


             On   March   25,   1998,  the  Commission  issued  an  Order
             instituting public administrative proceedings against Thomas
             Anthony Calise, of Vallejo,  California.   In the Order, the
             Division  of  Enforcement  alleges  that  in  1992  while  a
             registered representative in the Chicago office  of Mathews,
             Holmquist  &  Associates,  Inc.,  Calise  sold thousands  of
             shares  of  the  common  stock  of  Teletek,  Inc.   to  his
             unsuspecting    customers    in   return   for   undisclosed
             compensation from affiliates of  Teletek.  The Division also
             alleges    that    Calise   encouraged   other    registered
             representatives to receive  undisclosed  payments  in return
             for sales to their customers of Teletek stock.  The Division
             alleges  that Calise willfully violated antifraud provisions
             of the Securities  Act  of  1933 and the Securities Exchange
             Act of 1934.

             The Order also alleges that Calise was indicted by a federal
             grand  jury  in  the  District of  Nevada.   U.S.  v.  Damon
             Cozzolino, et al., CR-S-96-287  (D.  Nev.  filed November 6,
             1996).   A  factually related criminal action  currently  is
             also pending  in the U.S. District Court for the District of
             Nevada.  U.S. v.  Michael  G.  Swan, et al., CR-S-96-288 (D.
             Nev. Filed November 6, 1996).

             A  hearing  will  be  held to determine  whether  the  staff
             allegations are true and  to afford Calise an opportunity to
             establish  any  defenses and  to  determine  what,  if  any,
             remedial action is appropriate.