Canadian Stocks/Old stock found
Hello Mr. Taylor. Was rummaging through my fathers effects and found an old stock. It is Franklin Gold Mining Company Limited dated June 5, 1936. It is of 2,000 shares and was registered by The Trusts and Guarantee Company Limited, Toronto. I have been researching this and have found I believe that the Register need to be in business to be reimbursed for the value, or the trail of takeovers needs to be known to find out if there is worth. There is still a company today with that name operating, in addition to another company that is up and running on the web that I have stocks of. Why do the registers need to be operating to receive any money? Are my stocks worth more then the certificate they are printed on? Thanks for your time. G'Luck with your search, I need an island.
Brett, from the information I have available, the shares have no value. The Company is defunct.
Any public company in business will have a transfer agent and registrar. Stock certificates are not official proof of ownership - they are really just a receipt. Instead, the registrar maintains the official shareholder record book. A shareholder needs to be on that list to be considered an owner of the Company. The transfer agent also transfers the stock from the seller to the buyer when a transaction is made. Without a transfer agent/registrar, stock transactions cannot be made.