Canadian Stocks/cordwell international developments ltd
QUESTION: Wondering about the value of 100 shares of cordwell international development stock dated Nov 27 1967 and 2000 shares of consolidated beta gamma mines limited dated Nov 25 1958,Aug 6 1959 and Aug 10 1959 and 100 shares of Air Canada dated Oct 13, 1988. Thank you.
ANSWER: Sheree, from the information I have available:
Cordwell has no current value. The Company was dissolved in the early 1970's.
Consolidated Beta Gamma went through a name change and a huge reverse split (1 new share for every 200 old shares# before being acquired by General Petroleums in the late 1960's for 11 cents cash per share. The registered holder should have received a check for $1.10 at that time.
Air Canada went bankrupt in 2003. Since your certificate is dated prior to April 1, 2003, it likely has little to no value. When the Company emerged from court protection, old common shareholders received very little equity in the new company - only 0.01% of the new company's fully diluted shares. I suggest you contact the current transfer agent, Canadian Stock Transfer (www.canstockta.com) to see if the old certificate has any current value.
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QUESTION: Hello Steven,
I have in my possession that my great grandfather is the owner of one share of the capital stock of Renfrew Golf Club Limited. The share was $100.00 and dated April 12 1933. The Club was incorporated in 1929.
Is there any value other than framing it? Thank you.
Sheree, that is a very interesting find. The stock would have been sold privately and would have never been publicly traded. It is very possible that all members during that period were required to buy 1 share as a condition of membership in the private club, with the share certificate representing their membership.
I would suggest you contact the club directly and see if they can shed some light on it. I believe the only Renfrew Golf Club is the one in Renfrew, Ontario, and it is still around. Most clubs are very proud of their history and may still have the membership rolls from that era as well as a list of shareholders. http://www.renfrewgolf.com/
If nothing else, I think it would be a great family piece and definitely worthy of a frame.