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Non-Tech : Web Street Securities (WEBS)

WEBS 19.37

-1.0%

Dec 9 4:00 PM EST

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To: Gorak Shep who wrote (151)	12/17/1997 12:53:00 PM
From: Fred Puppet	Read Replies (1) of 1339

Gorak, WebStreet does not always pay interest on uninvested cash. For example, if you make a short sale, they take $5/share out of your MMF and place it in the non interest bearing short side. If you don't have that much in the MMF, they force you to borrow the cash at 8%+ so that it can sit idle in the short account. The commission is $0 but you can lose several $100s with this policy. I closed my WebStreet account after my first trade illuminated this otherwise undisclosed policy: exchange2000.com

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