Expert: Steven Taylor - 8/13/2009

Question
My father recently died and I found a document from E. A. Manning Securities for something with Rusty Lake Industry.  I have the account number and security code but can't locate a site for this company.  The amount is $1500 so I would like to know what I can do to figure this out.

Answer
Barbara, I have no information on Rusty Lake Industry. Are you sure it wasn't Rusty Lake Resources? There are a lot of old Rusty Lake Resources certificates floating around, especially coming from clients of the notorious Ontario Penny Stock houses.

E.A. Manning is out of business. The Ontario Securities Commission waged a long fight to get rid of them, as they were well known for certain less than honest business practices. Many of the shares sold by Manning are worthless today, but when they were shut down the accounts with some value were transferred to other brokers. I have no way of knowing if your father was included. You could try contacting the Ontario Securities Commission (http://www.osc.gov.on.ca and see if they have information regarding the transfer of accounts. However, it has been a long time since Manning was closed down so the records may be difficult to find today. You should also contact Ontario's Lost Property department and see if they are holding any assets in your father's name - there might have been other stock certificates or bank accounts for which you are unaware.