Canadian Stocks/Stocks from the early 1960's
My mother had some very old Canadian stock: 1000 shares of Consolidated Fenimore Iron Mines Limited dated 9/27/62; 1500 shares of Ansil Mines Limited dated 4//24/64 and 1000 shares of Norque Copper Mines Limited dated 9/17/62.
My questions is do they have any value. I noticed you answered a question about Consolidated Fenimore Iron Mines Limited and directed the inquirer to check: missingmoney.com and w.naupa.org. I did this and found nothing. If my mother received no money as a result of buyouts, etc. is there any recourse?
Thanks for you help.
Marie, from the information I have available:
For the Consolidated Fenimore, it is very likely your mother's original 1000 share position was completely wiped out by the reverse splits. If not, and there was once some money, it is also very possible the time limit on the government holding it in custody ran out. Some states hold indefinitely, but most have time limits - usually 7-20 years. If that is the case, there is no recourse. But, I wouldn't lose sleep over it. Even if there was once some money involved, it was likely a very, very small amount due to all the negative capital adjustments.
Ansil Mines had a 1 for 5 reverse split and became Ansil Resources. Ansil ceased to trade publicly in 2000, but the Company is still around and still filing its required information with the regulators. Normally in these cases, you would contact the Company's transfer agent and have the old shares reorganized. However, Ansil has been in a dispute with a former transfer agent since 1992 and may not have any ownership records before 1992. Also, Ansil is now acting as its own transfer agent. Therefore, you will need to contact them directly. The address I have for them is:
605 - 80 RICHMOND STREET WEST
Norque Copper has no current value. The Company had a 1 for 4 reverse split but had its charter cancelled and was dissolved in the mid-1970's.