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83-29 Gibralco, Inc. 1321 Seventh Street Santa Monica, California

TO: All NASD Members

ATTN: Operations Officer, Cashier, Fail-Control Department

On Wednesday, June 22, 1983, the United States District Court for the Central District of California appointed a SIPC Trustee for the above-captioned firm. Previously, a temporary receiver had been appointed for the firm on June 21, 1983.

Members may use the "immediate close-out" procedures as provided in Section 59(i) of the NASD's Uniform Practice Code to close out open OTC contracts. Also, MSRB Rule G-12 (h)(iv) provides that members may use the above procedures to close out transactions in municipal securities.

Questions regarding the firm should be directed to:

SIPC Trustee

Alexander C. McGilvray, Jr., Esquire
Clark & Trevithick
A Professional Corporation
800 Wilshire Boulevard, Suite 700
Los Angeles, California 90017
Telephone (213) 629-5700

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