Canadian Stocks/old stocks found
my husband has recently found 2 stock certificates and several invoices and bank money orders for other stocks bought between 1971 and 1972 . The Broker was Cumco Corporation and Durham Securities in Toronto and the stocks were from New United Salt, Monpre Iron, Summit Explorations, Summit Diversified and Magusi River Explorations. I have checked on line for these names and there is no result. What and How can I do to find out if these are worth anything ?
Nancy, from the information I have available:
New United has no current value. The company had its charter cancelled and was dissolved in the mid-1970's.
I have been asked about Monpre frequently, which suggests there are many certificates floating around out there. Monpre was reactivated, did a 1 for 3 reverse split, and became Techoldmin Ltd. Techoldmin seems to have left Canada and was last trade in the US on the Pink Sheets for less than a penny. I have no information on its ultimate status, but some supporting information strongly suggests Techoldmin is defunct.
Summit Exploration and Summit Diversified are the same Company. Summit Explorations had a name change in the early 1970's. There was a later merger (2 new shares for 3 old) and it became Sumtra Diversified, which trades for about 1 cent per share on the TSX Venture. You will need to contact the current transfer agent, Equity (equityfinancialtrust.com/) about reorganizing the old shares.
Magusi River had several name and capital changes (1 for 19, then 5 for 11) and became Lumsden Building. Lumsden was cease-traded by Ontario in 1980, and that order remains in effect, which suggests the company never fixed their problems, and there is no current value.