The call also comes after the share prices of Goldman's main rivals, Merrill Lynch and Morgan Stanley Dean Witter, have plunged by more than a third from their peaks in July, just after Goldman partners voted to sell stock. Unless shares in those companies rise significantly in coming weeks, banking analysts say they doubt that Goldman's offering -- scheduled for November -- will raise as much money or value the firm as highly as bankers there expected just a few weeks ago. Still, few Goldman employees expect that the firm will delay or cancel its public offering, at least at this stage. ''As far as I can tell, it's still full steam ahead and I would be surprised if they tell us otherwise,'' one Goldman banker said yesterday.