Canadian Stocks/Pre Depression stocks
I was recently given a Stock Certificate that my Grandfather had purchased in 1928. I have found that Paymaster Consolidated Mines Company is still listed but now it is a Canadian company. I realize that there have been many mergers and buyouts since this time but I wonder if there is any value in this Certificate considering it was purchased before the Depression?
Jeanne, from the information I have available:
The Company had several name changes and at least 2 reverse splits (1 for 3 and 1 for 3.57196) and became Associated Porcupine Mines, which was acquired by American Reserve Mining in 1989. Shareholders received $5.00 per share cash PLUS 0.75 of an American Reserve common share. American Reserve later had a 1 for 10 reverse split and became AMI Resources, which is still around. It trades on the TSX Venture for about 2 cents per share. You will need to contact the current transfer agent, Computershare (www.computershare.com) about the old certificate.