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To: TFF who wrote (3821)	4/22/1998 9:04:00 AM
From: steve goldman	Read Replies (2) \| Respond to of 12617

Short stock, the ongoing debate... here's what i have so far... 1. The person that is long stock, places it in a margin account, type 2. According to the hypothecation agreement, the stock , if in a margin account and a debit exists, 50% of the stock can be lent out for whatever reason, to meet bank deposit reqt or for loaning to others. 3. The person long the stock, in firm a, gets dividends, the person who received the SHORTED BORROWED STOCK gets dividends. which begs the question...double dividends...company only agreed to pay dividends on x number of share...the answer to this one is that the person short the stock is responsible for the dividend paid to the person who bot the shorted stock. I am waiting to find out about voting rights....since the short seller can be "responsible" for the voting rights of the stock they borrowed...Initially, it might seem that loaned out stock loses voting rights. i;ll let you know. -Steve@yamner.com