Expert: Steven Taylor Date: 6/30/2008 Subject: old stocks
Question I recently found some old stocks that my great grandmother had bought in the 1960s and i am curious if they are valuable or if the company has changed names or went out of business. the stock info is this:
Mile 18 Mines Limited
countersigned and registered by guaranty trust company of Canada, Toronto,Ont.
Answer Unfortunately, I have no information on the Company except that I see they made the US SEC's Canadian restricted list, which is for companies that illegally sell their stock into the US to US citizens without proper registration. Good companies register with the SEC before they promote their stock in the US, so it does not bode well for this company having serious value.
Usually in these cases, the place to start is with the Transfer Agent. However, Guaranty Trust is long out of business. You could try the Province of Incorporation and see what information they have available, but considering the age of the certificate, I doubt it would be of much help. Therefore, I suggest you take the certificate to a broker and see what they can find if they perform a more detailed search.
