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Microcap & Penny Stocks : FRANKLIN TELECOM (FTEL)
FTEL 2.190+0.9%10:55 AM EST
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To: Dorothy Simpson who wrote (4605)2/7/1997 6:56:00 PM
From: CHARLES W. FISHER   of 41046
 
Dorothy, I spoke with my broker about 5 min ago, west coast. This is what he had to say:
1. No shares in a cash account, Type I ACCOUNT, can be sold short against by the broker or loan out to others firms for shorting
without the shareholder knowledge and concent.

2 In a margin account agreement ,the broker can short sale your stock. He can also transfer stock from a cash, type I account, to a margin account type II at his will according to the margin agreement you have with his firm.This means he can then short your cash stock . I take that to mean that he can do this do without my knowledge.This is my understanding after pressing him about why is my account showing margin buying power.

3 .All shares in a cash account can be restricted to the cash account only and are not to be transfered or sold short against IF the shareholder requests this in writing. This will not effect day to day trading in any manner.

I hope this helps.
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