Telephone inquiries in July and August are up more than 50 percent over last summer, according to a Vanguard spokesman.

A Vanguard spokesman declined to comment on the matter yesterday.

A Vanguard spokesman said that he was not aware of the Wellington inquiry.

He was reported in good but guarded condition, which is typical following heart transplant surgery, a Vanguard spokesman, Brian Mattes, said.

Brian Mattes, a Vanguard spokesman, said net inflows for the quarter were more than $17.5 billion, $10 billion of which went into equity funds.

"If we did allow it, we would have been seeing enormous cash flows today," said Brian Mattes, a Vanguard spokesman.

"We're ready to go in an unfortunate situation," said John Demming, a Vanguard spokesman.

"This situation is absurd," Brian Mattes, a Vanguard spokesman, said.

A Vanguard spokesman, Brian Mattes, said the company received a civil subpoena for information from the Justice Department about a month ago.

"We studied these offerings, but we don't have plans to introduce any," said John Demming, a Vanguard spokesman.