Expert: Steven Taylor - 8/5/2011

Question
I have a United Bata Resources Limited certificate that was bought by my family in 1969. Just wandering if it is of value?

Answer
Charlene, from the information I have available:

United Bata was acquired in 1971 by Ocean Oil Corp on the basis of 1 Ocean share for every 3 United shares. Ocean was later acquired by Marathon in 1976 for $18 a share cash.

It is very possible that your family did receive the shares of Ocean, and it is possible they received the cash for the Marathon acquisition. It is not always required for an owner to submit the old certificate to receive the new certificates of the acquiring company, or the cash. However, if they did not, the money would have been turned over to the government for safekeeping. The problem is that most governments only keep that money for a limited period, usually under 20 years. However, some will keep it for longer, including indefinitely. Therefore, it doesn't hurt to look, especially as you can search many States and Provinces for free at www.missingmoney.com and www.naupa.org (check both). Search every State and Province in which the registered owner lived from the time they acquired the stock until the takeover by Marathon. Search using the name exactly as it appears on the certificate, even if it is misspelled or abbreviated.