Canadian Stocks/Stocks

Advertisement


Question
I came across some old stocks that belonged to my Dad. I'd like to find out what happened to these companies and to the Brokers that sold them to him. 1000 shares of Western Ontario Resources Ltd sold to him by Herbert & Co. Securities Ltd October 1973. And 2000 shares of Pamike Mines Ltd and 500 shares of Toronado Mines Ltd both sold to him by Standard securities Limited May 1973

Answer
Will, I have no information on Western Ontario Resources at all. If there is a transfer agent listed on the certificate, I would try to contact them first and see what information they have available. You can also try contacting the Province of Incorporation (listed on the certificate) or a broker and ask them to perform a detailed search for you.

For Pamike Mines, the company was cease-traded back in 1978, and that order remains in effect. I see that DTC ordered the certificates destroyed several years ago as worthless, which means the stock has no current value.

For the brokers, I have no information what happened to them. From the 1940's-1970's, there were many small brokerage houses in Ontario selling penny stocks. The turn in the market, combined with new regulations and the OSC's efforts to stop their often abusive sales practices, led to the demise of just about all of them by the 1980's to 1990's.

Canadian Stocks

All Answers


Answers by Expert:


Ask Experts

Volunteer


Steven Taylor

Expertise

Canadian stocks, including growth and resource companies.

©2016 About.com. All rights reserved.