UNITED STATES OF AMERICA
Before the
SECURITIES AND EXCHANGE COMMISSION

SECURITIES ACT OF 1933
Release No. 7743 / September 27, 1999

   SECURITIES EXCHANGE ACT OF 1934
   Release No. 41915 / September 27, 1999

   ADMINISTRATIVE PROCEEDING
   File No. 3-10032
____________________________

     In the Matter of           ORDER INSTITUTING PUBLIC
                                CEASE-AND-DESIST
        GARY A. RUE,            PROCEEDING, MAKING
                                FINDINGS AND ISSUING A
          Respondent.           CEASE-AND-DESIST ORDER
____________________________


   I.

   The Securities and Exchange Commission ("Commission") deems it
   appropriate that a public cease-and-desist proceeding pursuant to
   Section 8A of the Securities Act of 1933 ("Securities Act") and
   Section 21C of the Securities Exchange Act of 1934 ("Exchange Act") be
   instituted against respondent Gary A. Rue ("Rue").

   II.

   In anticipation of the institution of this cease-and-desist
   proceeding, Rue has submitted an Offer of Settlement ("Offer"), which
   the Commission has determined to accept. Solely for the purpose of
   this proceeding and any other proceeding brought by or on behalf of
   the Commission, or in which the Commission is a party, and without
   admitting or denying the findings contained herein, except that Rue
   admits the jurisdiction of the Commission over him and over the
   subject matter of this proceeding, Rue consents to the entry of this
   Order Instituting Public Cease-and-Desist Proceeding, Making Findings
   and Issuing a Cease-and-Desist Order ("Order") set forth below.

   Accordingly, IT IS ORDERED that a proceeding pursuant to Section 8A of
   the Securities Act and Section 21C of the Exchange Act be, and hereby
   is, instituted.

   III.