Disney Information Station Logo

Go Back   The DIS Discussion Forums - DISboards.com > Just for Fun > Community Board
Find Hotel Specials & DIScounts
 
facebooktwitterpinterestgoogle plusyoutubeDIS Updates
Register Chat FAQ Tickers Search Today's Posts Mark Forums Read


Reply
 
Thread Tools Rate Thread Display Modes
Old 01-08-2013, 10:31 PM   #1
ElizK
I'm a whosoever!
My threads are dead before they're even posted!
Gained 10 lbs just reading a thread on the DIS
 
ElizK's Avatar
 
Join Date: Apr 2004
Location: Ft Worth, TX
Posts: 3,287

MIL found old stock certificates... how to proceed?

MIL found 400 shares of stocks that she had in her bank safety deposit box. The company has been sold a number of times, but it is still in business under a different name. How do we find out the value, and how do we sell them for her?

I told DH that someone on the Dis will be able to help us! Thank you!
__________________
ElizK is offline   Reply With Quote
Old 01-08-2013, 11:43 PM   #2
Geoff_M
DIS Veteran, DVC Member, "Cum Hoc Ergo Propter Hoc"
 
Geoff_M's Avatar
 
Join Date: Sep 2000
Location: Michigan
Posts: 11,383

The paper itself might be "worthless" if the company was sold long ago. In the 1980's I bought a few shares of Penske Motorsports as a lark. I requested a hard copy stock certificate. A few years later they were bought out by ISC, which owns Daytona, in a stock swap. I was supposed to mail in my certificate and some paperwork to do the exchange. I didn't bother as the stock was only worth about $100. I assumed over time the stock was worthless.

Well, it sort of was... A couple of years ago my Sister-inlaw said she spotted my name on a list of unclaimed assets on the state treasury web site. It was for my stock. Basically, my stock was "cashed out" at some point and given to the state as unclaimed money. I had to file a notarized form to request the money. However, my guess is that there was probably a statute of limitations on the money and the state would have been able to keep it if some one hadn't noticed it and alerted me in time.
__________________

"Cry 'Havoc', and let slip Tomas Holmstrom!!!"

"In-a da crease... Out-a da crease... In-a da crease... Out-a da crease!!!!"

"Way, way back many centuries ago... Not long after the Bible began..."
Geoff_M is offline   Reply With Quote
|
The DIS
Register to remove

Join Date: 1997
Location: Orlando, FL
Posts: 1,000,000
Old 01-08-2013, 11:49 PM   #3
Janepod
The new dinning plan is out. Need to get those ressies in!
 
Join Date: Sep 2010
Location: Fairfield County
Posts: 3,480

Quote:
Originally Posted by ElizK View Post
MIL found 400 shares of stocks that she had in her bank safety deposit box. The company has been sold a number of times, but it is still in business under a different name. How do we find out the value, and how do we sell them for her?

I told DH that someone on the Dis will be able to help us! Thank you!
Talk to your financial advisor. If you don't have one, walk into an office of Schwab, Fidelity, etc. and explain the situation. You will probably have to open a brokerage account with them, but that's no big deal.

When I did my first banking internship, I worked on a project like this. It ended up netting the client like $70 grand. Lot of trouble to research the various name changes, stock splits, etc., but really interesting!
Janepod is offline   Reply With Quote
Old 01-09-2013, 07:58 AM   #4
The Mystery Machine
DIS Veteran
 
Join Date: Jan 2001
Location: Missouri
Posts: 45,361

Quote:
Originally Posted by ElizK View Post
MIL found 400 shares of stocks that she had in her bank safety deposit box. The company has been sold a number of times, but it is still in business under a different name. How do we find out the value, and how do we sell them for her?

I told DH that someone on the Dis will be able to help us! Thank you!
Make a call to the current company.
The Mystery Machine is offline   Reply With Quote
Old 01-09-2013, 08:29 AM   #5
doxdogy
Owned by doxies!
I remember the day I turned into my parents
 
doxdogy's Avatar
 
Join Date: Jun 2002
Location: jacksonville, fl
Posts: 5,968

First make sure that the value of the stock has no been paid abandoned to the state. If has not been paid abandoned, find out who the transfer agent is for the current company. Then you will need to contact them and find out how to proceed. If there were any dividends attached to the stock, those funds may have been paid abandoned too.
doxdogy is offline   Reply With Quote
Old 01-09-2013, 08:52 AM   #6
BunsenH
Bringing Order to Chaos
 
BunsenH's Avatar
 
Join Date: Feb 2005
Location: Western MA
Posts: 2,625

The stock certificate should have an ID# on it. I think that it's call the QSIP. With that number, company name, and stock owner, a financial adviser should be able to trace the stock. They did for me many years ago.
__________________
....You may find yourself in a beautiful house, with a beautiful wife

You may ask yourself, well, how did I get here?...
BunsenH is offline   Reply With Quote
Old 01-09-2013, 08:54 AM   #7
Janepod
The new dinning plan is out. Need to get those ressies in!
 
Join Date: Sep 2010
Location: Fairfield County
Posts: 3,480

Quote:
Originally Posted by doxdogy View Post
First make sure that the value of the stock has no been paid abandoned to the state. If has not been paid abandoned, find out who the transfer agent is for the current company. Then you will need to contact them and find out how to proceed. If there were any dividends attached to the stock, those funds may have been paid abandoned too.
Your financial advisor will handle this for you.
Janepod is offline   Reply With Quote
Old 01-09-2013, 09:16 AM   #8
GrnMtnMan
DIS Veteran
 
GrnMtnMan's Avatar
 
Join Date: Oct 2008
Location: Wash DC Metro Area
Posts: 1,372

You might have found a windfall, but it could also be worthless...depends on how or why it was sold. For example, K-Mart is still around (as a subsidiary of Sears I think), but old K-Mart stock is not part of Sears because all of the prior K-Mart stock was wiped out during a bankruptcy. Same would go for pretty much any airline, except Southwest.

Any reason you're not telling us what stock it is?
__________________
80s: Poly X 2, LBR X 3;
CBR 3/00
YC 10/02, 9/06
Dolphin 10/04
DL - Grand Californian 3/06
Disneyland Paris 9/07
Swan 9/08, 6/10
BLT 9/09, 12/10 - Father-Daughter Trip, 10/11, 10/12, 10/13, 10/14

Disney-Like: Atlantis - Paradise Island 3/01, 3/02, 9/03, 9/05, 3/07, 4/08, 3/09, 4/10, 3/11, 4/12, 3/13, 4/14, 4/15
GrnMtnMan is offline   Reply With Quote
Old 01-09-2013, 09:18 AM   #9
denisenh
All I can do is lie down
It has a thing hanging off the end
When i get the urge to show off, a tiny voice inside my head says "resist the urge". So i shut my mouth and stand still.
 
denisenh's Avatar
 
Join Date: Jan 2000
Posts: 4,108

Quote:
Originally Posted by Janepod View Post
Your financial advisor will handle this for you.
it is probably not a good thing that this made me laugh.

"my financial advisor. oh yes, right over there with my personal assistant" maybe most people have these things, i don't know.

op, could you update with how this turns out. i am curious.
__________________
denisenh


denisenh is offline   Reply With Quote
Old 01-09-2013, 09:55 AM   #10
SueInBoston
DIS Veteran
 
SueInBoston's Avatar
 
Join Date: Apr 2007
Location: Boston, MA
Posts: 1,068

I just went through this with my aunt. She had 8 different stock certificates that were about 30+ years old, most were att (or whoever they were back then). Luckily she already has a brokerage account at Fidelity, we took them there and they took care of them. Two got returned to us as they were turnovered to the state, but Fidelity had started the claim process for us. The state sent us some forms that we filled out and sent back.

Fidelity really made it easy as when I first saw those stock certificates, I didn't even know where to begin.....
SueInBoston is offline   Reply With Quote
Old 01-09-2013, 09:57 AM   #11
ElizK
I'm a whosoever!
My threads are dead before they're even posted!
Gained 10 lbs just reading a thread on the DIS
 
ElizK's Avatar
 
Join Date: Apr 2004
Location: Ft Worth, TX
Posts: 3,287

Quote:
Originally Posted by GrnMtnMan View Post
You might have found a windfall, but it could also be worthless...depends on how or why it was sold. For example, K-Mart is still around (as a subsidiary of Sears I think), but old K-Mart stock is not part of Sears because all of the prior K-Mart stock was wiped out during a bankruptcy. Same would go for pretty much any airline, except Southwest.

Any reason you're not telling us what stock it is?
No, no reason. The original stock is Southwestern Public Service Co, which is now Xcel Energy.

Apparently, this was transferred to MIL's name when her father died about 25 years ago.

We don't have a financial advisor, but we might know someone who could ask theirs. Thanks for the advice! Will let you know what I find out.
__________________
ElizK is offline   Reply With Quote
Old 01-09-2013, 10:01 AM   #12
Janepod
The new dinning plan is out. Need to get those ressies in!
 
Join Date: Sep 2010
Location: Fairfield County
Posts: 3,480

Quote:
Originally Posted by denisenh View Post
it is probably not a good thing that this made me laugh.

"my financial advisor. oh yes, right over there with my personal assistant" maybe most people have these things, i don't know.

op, could you update with how this turns out. i am curious.
Well, most people (at least most people I know) have a brokerage account somewhere like Fidelity, where there are financial advisors to walk you through things like this.

But I am old and live in Connecticut.
Janepod is offline   Reply With Quote
Old 01-09-2013, 10:23 AM   #13
doxdogy
Owned by doxies!
I remember the day I turned into my parents
 
doxdogy's Avatar
 
Join Date: Jun 2002
Location: jacksonville, fl
Posts: 5,968

Quote:
Originally Posted by Janepod View Post
Your financial advisor will handle this for you.
Worked for a stock transfer agent for ten years, so my first thought in these situations is to go there first. It seems that Wells Fargo, at 1-877-778-6786 is the stock transfer agent for the company. As I stated in my previous post and depending on the amount of time. Chances are that it is paid as abandoned property to the state. Of course, this depends on the amount of time that has passed since they became a subsidiary of Xcel Energy.
doxdogy is offline   Reply With Quote
Old 01-09-2013, 10:24 AM   #14
GrnMtnMan
DIS Veteran
 
GrnMtnMan's Avatar
 
Join Date: Oct 2008
Location: Wash DC Metro Area
Posts: 1,372

Quote:
Originally Posted by ElizK View Post
No, no reason. The original stock is Southwestern Public Service Co, which is now Xcel Energy.

Apparently, this was transferred to MIL's name when her father died about 25 years ago.

We don't have a financial advisor, but we might know someone who could ask theirs. Thanks for the advice! Will let you know what I find out.
Has she been receiving dividend checks? Xcel pays quarterly dividend.

Anyway, these should have some value as I can't recall any public utility companies that have gone bankrupt, other than ones that were part of the Enron debacle. In the quick Google-ing I did, it doesn't look like they were caught up in that.
__________________
80s: Poly X 2, LBR X 3;
CBR 3/00
YC 10/02, 9/06
Dolphin 10/04
DL - Grand Californian 3/06
Disneyland Paris 9/07
Swan 9/08, 6/10
BLT 9/09, 12/10 - Father-Daughter Trip, 10/11, 10/12, 10/13, 10/14

Disney-Like: Atlantis - Paradise Island 3/01, 3/02, 9/03, 9/05, 3/07, 4/08, 3/09, 4/10, 3/11, 4/12, 3/13, 4/14, 4/15
GrnMtnMan is offline   Reply With Quote
Old 01-09-2013, 10:30 AM   #15
denisenh
All I can do is lie down
It has a thing hanging off the end
When i get the urge to show off, a tiny voice inside my head says "resist the urge". So i shut my mouth and stand still.
 
denisenh's Avatar
 
Join Date: Jan 2000
Posts: 4,108

Quote:
Originally Posted by Janepod View Post
Well, most people (at least most people I know) have a brokerage account somewhere like Fidelity, where there are financial advisors to walk you through things like this.

But I am old and live in Connecticut.
oh...i see. the bank i use has those and T.Rowe Price where i have some money. yea, you are right, they are helpful.
i'm old too. i try to keep in mind that i'll be older tomorrow instead of i was younger yesterday.
....and connecticut
__________________
denisenh


denisenh is offline   Reply With Quote
Reply



Thread Tools
Display Modes Rate This Thread
Rate This Thread:

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off

Forum Jump

facebooktwitterpinterestgoogle plusyoutubeDIS Updates
GET OUR DIS UPDATES DELIVERED BY EMAIL



All times are GMT -5. The time now is 12:47 PM.

Powered by vBulletin® Version 3.8.4
Copyright ©2000 - 2014, Jelsoft Enterprises Ltd.

Copyright © 1997-2014, Werner Technologies, LLC. All Rights Reserved.