Expert: Steven Taylor - 6/3/2011

Question
I came across two share certificates in Silver Elk Gold Syndicate amongs old family documents.  They are dated 1935 and list a head office at 34 King Street East, Toronto.  The certificates state that each unit is exchangable for 200 shares in a company to be formed.  Can you tell me any information about the Syndicate, whether it spawned a company, and whether the certificates have any commercial value?  Thanks.

Answer
Unfortunately, I have no information on Mining Syndicates at all, and almost no one does, either. Anytime you see the term "Syndicate" you can be almost 100% sure it was not a publicly traded company. Mining Syndicates were allowed under a separate segment of the law from corporate law which allowed shares #to be sold privately as an exemption to corporate securities laws. They were usually sold to a very small number of people #anywhere from a few to a few hundred# privately by word of mouth. The syndicate was established to prospect or explore a specific area or property. When the money raised by the syndicate ran out, the syndicate usually just informally dissolved and faded away, often without properly notifying the Province under which it was established. That is why Syndicates are extremely difficult to track down.

I don't show any company named "Silver Elk", either, which means either they did just wind up the syndicate, or if they did incorporate a company, it would have a different name. In this case, you might try contacting Ontario #the probable Province of formation# and see what information they have.