LEAD: Pace Securities Inc., a small brokerage, has temporarily ceased doing business because of financial difficulties, but the firm said that it expected to be back in operation soon.

But they can always seek out smaller brokerages.

Rosenkrantz, a smaller brokerage founded in 1947, was in an excellent position to pounce, thanks largely to its profitable proprietary business, Mr. Purjes said.

And when these smaller brokerages call us, it is true that we may already have an accepted offer.

The document shows that Evident's private stock offering was administered by Tejas Inc., a small publicly traded brokerage firm in Austin, Tex.

The small brokerage was a 50-50 joint venture between the Woo Hon Fai family and Alexander Laing & Cruickshank.

Gallagher's size gave it an advantage and helped it gain larger, more profitable clients and outpace the thousands of small brokerages vying for a piece of the market.

Wedbush is best known for serving as the securities clearing house for 150 smaller brokerages.

Several brokers added, however, that it might be hard for some small, independent brokerages to come up with their share of the increase in the reserve fund.

She headed for the small brokerage where she acts as a go-between for buyers and sellers of bonds that governments issue to pay for schools, bridges and buildings.