UnThreaded | Threaded | Whole Thread (2) | Ignore Thread Prev | Next
Author: hattieb Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 381  
Subject: Establishing Richfield Oil stock ownership Date: 6/6/2000 12:32 PM
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Recommendations: 0
My mom recently passed away and when we searched her safe deposit box to find she left me two 100-share stock certificates to Richfield Oil, a forerunner of ARCO, which recently got gobbled by BP/Amoco. The certs date to 1934.

The certificates are made out in the street name Winthrop Mitchell & Co., and endorsed by Mr. Mitchell on the back. I have checked NASD and there never has been a broker with this name. There is little chance, short of a geneaology search, to find this guy.

The merrygoround of contacting transfer agents started with ARCO, prior to its purchase by BP. ARCO said to contact First Chicago, its current transfer agent, so ownership of the stock could be completed. Obviously, the stock has had some movement over the years. 200 shares might actually be more, in today's market, what with splits, etc.

However, First Chicago said it wasn't the transfer agent when the certificates were issued. That was Bank of America. Lucky me. They are still around. However, Bank of America now uses Chase Mellon for its shareholder services. The representative at Chase said it did not have records dating back that far for BofA. Of course, I am doubting this totally. Somewhere, in the bowels of some building, probably in L.A., are the records identifying these certificates.

Now, to complicate matters, ARCO recently was purchased by Amococ, which shortly thereafter was purchased by BP. Now, ARCO shares are being redeemed for BP shares.

I would like some direction as to how to go about redeeming these shares. I believe, since the certificates are already endorsed, that I simply need to put my name on them and they are -- badda bing -- transferred to me! Is this correct?

Any help, advice, war stories, whatever, would be greatly appreciated.

jefbenedetti@hotmail.com
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Print the post  
UnThreaded | Threaded | Whole Thread (2) | Ignore Thread Prev | Next

Announcements

Post of the Day:
Value Hounds

Medallion Financial: TAXI!
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and "#1 Media Company to Work For" (BusinessInsider 2011)! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.
Advertisement