Expert: Steven Taylor - 9/21/2011

Question
I have recently come across 500 shares of the above subject company dated September 1970 at $1.00 per share ( purchased in Ontario)while cleaning out old files from filing cabinet. Before I throw these out are there any way to find out if these are presently worth anything? Looks like a receipt from M Rash & Co., Bay Street, Toronto, was with the certificate. I attached copy ofThank you in advance for ant help.

Answer
Ken, from the information I have available, it appears your certificate has no current value.

North D'Arcy went through 5 name changes and 4 reverse splits (a 1 for 10, then another 1 for 10, then a 1 for 15, followed by a 1 for 2) and became Leader Capital. Due to all those reverses, Leader had too many small shareholders so they did a 1 for 50 reverse, followed immediately by a 50 for 1 forward split. Anyone holding over 50 shares was unchanged, but under 50 shareholders received about 25 cents cash per share. Your original 500 shares would have been reversed down to nothing after the 3rd reverse split. The registered holder should have received a small amount (probably no more than $1 total) for the remaining shares at that time.