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OHIO BROKERAGE FIRM TO ASSIST LOCAL GOVERNMENTS TROUBLED BY HIGH-RISK, INTEREST-ONLY INVESTMENTS

 CLEVELAND, Nov. 16 /PRNewswire/ -- The investment banking and brokerage firm of McDonald & Co. Securities, Inc. (NYSE: MDD), today announced its plan to assist local governments who may have suffered losses in their investment portfolios through the purchase of "interest only" securities from out-of-state dealers.
 Under the plan, McDonald & Co. will provide a confidential, no- charge analysis of the investment portfolio and seek to provide the best bid for any interest-only securities which local governments may wish to sell. McDonald & Co., Ohio's largest investment banking and brokerage firm, is a regional leader in trading mortgaged-backed and CMO securities.
 McDonald & Co. Senior Managing Director Fritz Tobias indicated that the firm hopes to provide an orderly market for the sale of the high- risk securities. "It is regrettable that some broker dealers would recommend high-risk securities to the local governments in which we work and live, and we are committed to do everything that we can to help resolve this unfortunate situation."
 McDonald & Co. also announced the formation of "Government Plus," a strategic alliance which includes public funds specialists from McDonald & Co., and two other Ohio-based firms: United American Capital Corporation and Chase Global Securities, Inc. Government Plus will provide a turn-key approach to all aspects of public funds financial management, seek to insure compliance with state investment laws and promote prudent investment decisions.
 Investment officials of municipalities who wish to discuss the confidential, no-charge portfolio analysis or the sale of interest-only securities should contact McDonald & Co. Vice President Mark Fisher at 800-553-2240 x2692 or 216-443-2692.
 McDonald & Co. is Ohio's largest investment advisory, investment banking and brokerage firm, with headquarters in Cleveland and offices in Akron, Canfield, Canton, Chillicothe, Columbus, Dayton, Dublin, Elyria, Findlay, Lancaster, Lima, Mansfield, Pepper Pike, Rocky River, Toledo, Willoughby and Youngstown. The firm also operates in the Cincinnati area as Gradison Division.
 United American Capital Corporation specializes in the management of state and local government portfolios. Chase Global Securities, Inc., is a minority-owned full service broker-dealer.
 -0- 11/16/93
 /CONTACT: Richard Clark of McDonald & Co., 800-553-2240/
 (MDD)


CO: McDonald & Co. Securities, Inc. ST: Ohio IN: FIN SU:

BM -- CL003 -- 4874 11/16/93 08:11 EST
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Publication:PR Newswire
Date:Nov 16, 1993
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