Expert: Steven Taylor - 10/27/2010

Question
I found my fathers shares of some stock he bought years ago and wonder if they are of any value. I have the original certificates. 8 shares of colonial oil and gas limited (incorporated in the provice of BC) dated sept. 1980. And 20 shares of great northern finacial corporation (incorporated in ontario) issued august 1975. How can I fined out if they are on any value and who do I contact to redeem them? Thanks for the help!  

Answer
Brian, from the information I have available:

Colonial did a 1 for 2 reverse split and became Cogas Energy. Cogas was acquired by Canadian Pioneer on the basis of $5.95 cash AND 1.088 of a Canadian Pioneer share for every Cogas share. Canadian Pioneer was later acquired in 1995 by Cimarron Petroleum on the basis of 1 share of Cimarron for every 32.34 shares of Canadian Pioneer. Since at that point your father would have had just 2 shares of Canadian Pioneer, he would have received a nominal cash payment - probably under $1.

Great Northern changed names numerous times, and right now it should be Wilmington Capital, which trades on the TSX for about $2.60 per share. However, due to capital changes through the years, the original 20 shares of Great Northern would now be 4 shares of Wilmington. However, Wilmington did pay a $25 dividend for every 4 shares owed some years back, so that money may still be around.

If your father never received any of the cash from the arrangements, that money should have been turned over to the government for safekeeping. You need to search the missing property offices of every State or Province in which your father lived from the time he acquired the shares until now. You can search many for free online at www.missingmoney.com and www.naupa.org (search both - they have different info on each). Search using the name exactly as it appears on the certificates, even if they are misspelled or abbreviated.

Also, for Wilmington, the current transfer agent is CIBC Mellon (www.cibcmellon.com). Contact them to confirm my information and see if they have your father on the books as a current shareholder.