Canadian Stocks/deceased fathers old share certicate
I have a fractional certificate for northern and central gas corporation ltd. dated jul 3rd 1969. i believe it changed to union gas in ontario. union gas could not help me. The transfer agent and registrar on the fractional certificate is national trust company ltd. (toronto montreal calary vancouver). I haven't been able to find a ph # for national trust to see if this certicficate is worth anything. if u know the number i would appreciate it. I do not know how a fractional share works, can u give me an idea or send me in the right direction. Thank you in advance.
Glenn, from the information I have available, Northern and Central Gas was purchased by Inter-City Gas Corp. in 1985. Fractional shares should have been paid off in cash at that time, which means your father should have received a check for his holdings. If not, they almost certainly would have been cancelled shortly thereafter when Inter-City reorganized and small holders were paid off then. Even if that didn't happen, the new issuer after the reorganization, International Comfort Products, was acquired by United Technologies in 1999 for US$11.75 cash per share and all remaining shares were redeemed then. Therefore, the fractional share should have no current value.