Expert: Steven Taylor - 3/24/2009

Question
I going through my deceased aunt's papers, I came across a stock certificate issued by the Tornonto Stock Exchange, Mining SEction, for 1000 shares of Fontana Gold Mines Limited dated 1937.  I have been unable to find anyting on the internet regarding this, as to if this company is still in existence.  Attached to the certificate was correspondence from Fontana Mines (1945) limited from Toronto dated 3/2/1966 re transferring the stock to principals' names.  Unfortunately, it was never transferred.

Any info you may have would be appreciated.

Sincerely,

Lydia Kapetanakis
2705 Holly Road
Va. Beach, VA  23451


Answer
Lydia, I don't have much information. It appears Fontana Gold Mines transferred their assets to Fontana Mines (1945) in 1945 and then dissolved. Fontana Gold shareholders received 1 share of Fontana Mines stock for every 2 shares of Fontana Gold held. That is where I hit a dead end. I have no idea what happened to Fontana Mines, but from the correspondence you have it may be interpreted that Fontana went private in 1966 - thus, the request to transfer the stock.

If that was the case, it is very possible that the non-tendered shares were taken up anyway. Your aunt may have received a check for her shares later, or the money may have been turned over to the government for safekeeping. You might start by searching lost property records online. You can do that for free for many states and some Provinces for free at http://www.unclaimed.org/ Search each state in which your aunt lived from the time she bought the stock until her death. Use the name exactly as it appears on the stock certificate, even it is misspelled.