Looking for Stock Broker

["Bob Young" <polaris3@xxxxxxxxxxxxxxx>]

I intend to implement a hedged portfolio strategy in common stocks.  I will hold in 
my account approximately equal dollar values of long and short positions, 
making me net market neutral.

For this I require a margin account with a stockbroker.  I will be trading quite 
actively, so low commissions are important, but another consideration is the 
treatment of margin interest.  Suppose I were to open an account with 100K in 
cash.  Then I buy a basket of stocks long, using the whole of the 100K, and at 
the same time sell short a basket of stocks to the same value.  I should have no 
debit balance, and so pay no margin interest.  However, one broker I have 
contacted informs me that I will be charged margin interest on the entire short 
portfolio, while another says I will not be charged unless I have a debit balance, 
but, they charge a much higher commission.  Can anyone recommend a broker 
with both low commissions, and the correct treatment of margin interest? 

Another consideration is the interest on the cash received form the short sale of 
stock.  I woul hypothetically own 100K worth of stock, plus have sold short 
another 100K, for which 100K in cash has been received.  None of the brokers I 
have contacted is willing to pay me interest on this cash.  Does anyone know of 
a broker who pays interest on cash recieved from the short sale of stock?

Thanks for any advice
Bob Young