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To: Bill Harmond who wrote (25199)11/9/1998 4:11:00 PM
From: H James Morris  Read Replies (2) | Respond to of 164684
 
William, I didn't also. I called DLJ and here's their response.
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<Subj: Important Notice fro
Date: 98-11-09 15:11:58 EST
From: dljdirect@dljdirect.ips.aol.com

Dear Mr. Morris,

Good Afternoon|
Below is the information regarding the information we spoke of regarding UPC 11830.

In 1993, the U.S Securities and Exchange commission approved a new section of the uniform Practice Code (UPC) requiring NASD members to close out short sales in Nasdaq securities that meet a certain clearing short position threshold. Under the rules, the short seller's broker/dealer must close out a short sale of specific securities 10 days after the normal settlement date if delivery of the security has not occurred and the transaction is not exempt. Securities subject to the close-out requirement are those with an aggregate "clearing" short position of 10,000 shares or more that equals or exceeds one half of one percent of the total shares outstanding. The NASD will identify these securities daily.

Sincerely,

Patrick A. O'Malley
DLJdirect Inc.
Member SIPC, Member NASD.
The only question I had to DLJ is, why is this UPC warning exclusive to the 'Thing'?
DLJ's response was "Because it's so volatile"!
Does this mean that the other Internet stocks aren't?



To: Bill Harmond who wrote (25199)11/9/1998 8:54:00 PM
From: Glenn D. Rudolph  Respond to of 164684
 
I have no idea what UPC 11830 means.

William,

This is from memery and may be inaccurate. I do believe those are shares that the brokerage house may need back within a 10 day period. They may only be lent for a short period of time.

Glenn