Expert: Steven Taylor - 9/3/2010

Question
I found some shares of stock that belonged to my dad - 71 shares in Consolidated Fenimore Iron Mines and 125 shares in Ungava Copper. Both were issued in the late 1950's. Can you tell me if they are worth anything?

Answer
From the information I have available:

Consolidated Fenimore did a massive 1 for 200 reverse stock split and became New Fenimore, which later became Forage Westburne. However, the 1 for 200 should have wiped out your father's original holdings - he likely would have received a cash payment for the shares, which is usually a few cents.

Ungava did a 1 for 4 reverse, then a 4 for 11 reverse, then a 1 for 12. At that time it was PanAtlas Energy, which was acquired by Velvet Explorations on the basis of 0.708 of a Velvet share for 1 PanAtlas share. Velvet was acquired in 2001 by El Paso for $8.10 cash per share. Taking into account the reverse splits, your father's share were probably eliminated and paid off with a small check before the El Paso acquisition, but even if it was not, you are talking about probably 1 share of Velvet. Probably not enough to chase after too hard, but it doesn't hurt to look in the right places.

What I suggest is that you check the online unclaimed property registries, many of which can be search for free at www.missingmoney.com and www.naupa.org. Check every State or Province in which your father lived from the time he acquired the shares in the 1950's until the takeovers.