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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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<SEC-DOCUMENT>0001089355-99-000013.txt : 19990816
<SEC-HEADER>0001089355-99-000013.hdr.sgml : 19990816
ACCESSION NUMBER:		0001089355-99-000013
CONFORMED SUBMISSION TYPE:	424B3
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		19990813

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			SIEBERT FINANCIAL CORP
		CENTRAL INDEX KEY:			0000065596
		STANDARD INDUSTRIAL CLASSIFICATION:	SECURITY BROKERS, DEALERS & FLOTATION COMPANIES [6211]
		IRS NUMBER:				111796714
		STATE OF INCORPORATION:			NY
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		424B3
		SEC ACT:		
		SEC FILE NUMBER:	333-81037
		FILM NUMBER:		99689128

	BUSINESS ADDRESS:	
		STREET 1:		885 THIRD AVENUE
		STREET 2:		SUITE 1720
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10022
		BUSINESS PHONE:		2126442400

	MAIL ADDRESS:	
		STREET 1:		885 THIRD AVENUE
		STREET 2:		SUITE 1720
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10022

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	MICHAELS J INC
		DATE OF NAME CHANGE:	19950221
</SEC-HEADER>
<DOCUMENT>
<TYPE>424B3
<SEQUENCE>1
<DESCRIPTION>SUPPLEMENT TO PROSPECTUS DATED JULY 9, 1999
<TEXT>


PROSPECTUS SUPPLEMENT                           Filed Pursuant to Rule 424(b)(3)
(To prospectus dated July 9, 1999)





                             Siebert Financial Corp.

                         600,000 Shares of Common Stock

                                -----------------

     This document supplements the prospectus dated July 9, 1999 relating to the
sale of 600,000 shares of our common stock.  We are not selling any shares;  the
stockholders named in the prospectus are offering their shares.  This prospectus
supplement is incorporated by reference into the prospectus.

     Beginning  August 11, 1999,  our common  stock began  trading on the Nasdaq
National  Market.  Our common stock previously was traded on the Nasdaq SmallCap
system.

                Our Nasdaq National Market Trading Symbol - SIEB

                     Closing Price (August 12, 1999): $19.25

     Each of the selling stockholders named in the prospectus,  have transferred
200 shares to Anthony  Coletti.  This supplement  amends the table on page 17 of
the  prospectus  to  amend  the  amount  of  securities  held  by  each  selling
stockholder  and to add Anthony  Coletti as a selling  stockholder  owning,  and
offering  hereby,  a total of 1,200 shares of our common stock,  as described on
the following page.

                                -----------------

     See "Risk Factors," which begins of page 5 of the accompanying  prospectus,
for certain information that should be considered by prospective investors.

                                -----------------

     Neither the  Securities and Exchange  Commission  nor any state  securities
commission has determined  whether this prospectus is truthful or complete.  Nor
have they  made,  nor will they make,  any  determination  as to whether  anyone
should buy these  securities.  Any  representation to the contrary is a criminal
offense.

                              --------------------

           The date of this prospectus supplement is August 13, 1999.


<PAGE>



                        Number of shares                       Number of shares
                         of common stock    Number of shares    of common stock
                       beneficially owned   of common stock   beneficially owned
Selling Shareholder     prior to offering   being registered  after offering (1)
- -------------------     -----------------   ----------------  ------------------

Joseph Costello              106,862           106,862                 0

Angelo Guerriero             106,862           106,862                 0

James Horgan                 106,862           106,862                 0

Gene R. McHam                64,490             64,490                 0

Matthew Shalloo              106,862           106,862                 0

Peter Sosnowski              106,862           106,862                 0

Anthony Coletti               1,200             1,200                  0

- ----------------------------------

(1)  Assumes that all shares offered by each selling shareholder are sold in
     this offering.
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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