Welcome to Wray A. Kunkle 1 Inc. Introducing Broker, registered with
the Commodity Futures Trading Commission and the National Futures  
Association.

Wray A. Kunkle 1 Inc. clears its business through R. J. O'Brien, a
leading futures commission merchant.  Accounts will have access to
news and quotes through R. J. O'Brien.
. Wray A. Kunkle has been a
commodity associated person since 1973.

Following are quotes from leading publications about Dr. Kunkle
during the last big gold rush...
WRAY A. KUNKLE 1 INC., Introducing Broker
Read more about Precious Metals »
                               NEW YORK MAGAZINE - February 4, 1980
                                                 Crazy as a Gold Bug

"The time to buy gold is when the Treasury holds a sale, Dr. Wray A. Kunkle, a Vice President of
Wheat First Securities told me.  He believes that Arab investors have been "leaning on the Treasury"
to hold more sales so that they can buy into the market again at a reduced price.."

                       THE WASHINGTONIAN MAGAZINE - January, 1980

"Kunkle likes gold.  "You have to get out of paper," he says.  Paper, of course, is the American dollar.
 Something worthwhile... is a contract to purchase 100 ounces of bullion."  Kunkle probably knows
more about gold than anyone in Washington.  He helped Steve Beckner write the precious metals
chaper of The
Hard Money Book".

                                 THE HARD MONEY BOOK   by  Steve Beckner
                               The Capitalist Reporter Press, New York, 1979

from "Tactics for Successful Futures Trading:  "I sought out the advice of an acknowledged expert.  
And so Dr. Kunkle brings a unique perspective to the business of trading currencies and precious
metals.  He has, I have discovered, a well-traveled, well educated outlook on the markets that very
few "account executives" have.  And he seems blessed with a capacity to see the big picture."

                           
                           U.S. NEWS AND WORLD REPORT - Nov. 27, 1978
                          "Man in the Street Starts to Dabble in Currency"

Sophisticated investors interested in speculating on foreign crrencies buy futures contracts.  Buying
on margin - using only a small cash down payment - makes leverage possible, gives the investor more
bang for his buck, says Wray A. Kunkle, a futures broker.
There is a risk of loss in futures trading.  You may lose more than your initial investment.  Past performance does not
guarantee future results.