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The April 22nd Drip Report suggests giving graduates a gift of a Drip. I like the idea - "Uncle Bill" has some gift giving occasions coming up. Perhaps a dozen where this makes sense over the next few years. I figure a gift package should include the initial account, a book, and letter from me. I'm imagining gifts in the $50-$150 range.

I don't know much about Drips, but I read through the information on the Portfolio Page.

1. What Stock?

Lack of fees is probably more important than usual, because the best the kids will do is tiny sporadic reinvestments in the beginning. I think direct investing with the company is probably best - a $20 fee at MoneyPaper would be a substantial part of the total gift.

2. What Book?

I haven't read "You Have More Than You Think." Is it a good first book? Would "The Millionaire Next Door" be more inspiring? Any other suggestions?

3. The Letter.

I'll share a draft of the letter if there is interest.

Uncle Bill
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Uncle Bill,

As far as what stock, it may depend on the age of the kids, i.e. Disney for the little ones, maybe Coke or McDonalds for the older ones, etc. Choosing something that will interest them is the key.

As for what book, I'll leave that to the other knowledgeable folks on this board, but I for one would love to see your draft letter. I can't think of a better gift.

By the way, I always wanted to have an Uncle Bill. <g>

Marcusfan
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As far as what stock, it may depend on the age of the kids, i.e. Disney for the little ones, maybe Coke or McDonalds for the older ones, etc. Choosing something that will interest them is the key.

Good point. I'm hoping to pick one company for all of them to keep the overhead of getting that first share in my name minimal. The Gap is probably a reasonable option in addition to your list. From my reading, it sounds like some companies are starting to bugger the tiny investor with nuisance fees, so I hope people with experience will jump in with warnings if appropriate.

As for what book, I'll leave that to the other knowledgeable folks

I'm thinking mostly of graduation gifts, so we don't need anything like "The Velveteen Rabbit and the IPO."

Uncle Bill
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The Gap is probably a reasonable option in addition to your list.

I agree that it would be a nice, however, Da Gap does not offer a Drip.

Fool on!

Vince
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Hi Bill,
I think this is a great idea. I also suggest HAS, Hasbro, my son 18 is interested in it because of the large Star Wars connection.

Also, for girls, The Limited.

As for a book, how about one of Chuck Carlson's books on Drip Investing to get them started. I believe these are probably listed on the Drip Investor page which is www.dripinvestor.com.

Have fun, let me know what the letter is like I would like to do this for my daughter next year.
Pam
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marcusfan Date: 4/23/99 1:51 PM Number: 7759
Disney for the little ones, maybe Coke or McDonalds for the older ones, etc

I've been looking. Disney requires $100 for cash additions. I want to tell they kids they can buy more with small amounts of money, so this is out.

Coke allows $10 additions. This looks promising.

McDonald's doesn't tell you on the web site. You can sign up for a third class mailing.

Coke looks real good right now.

Uncle Bill
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<<McDonald's doesn't tell you on the web site>>

Netstockdirect.com

Shows this information

McDonalds Inital Inv $1,000 Min OCP $100 ($5 ocp fee)

Here are some that might fit you plan

Hasbro (HAS) Initial 1 share Min OCP $25.00 (no Fee)
Huffy (HUF) Inital 25 Shares Min OCP $10.00
Harley Davidson (HDI) 1 share Min OCP $30.00 (No Fee)
Wendy's 1 share & Netstock says data unavalible
Wendy's WEB SITE says: 1 share Min OCP $20.00
Tricon Global** (Yum) 1 share Min $20 (No fee)
**(KFC,Pizza Hut & Taco Bell)

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Here is a link to a ""Special" Gift offer
from Moneypaper

http://www.moneypaper.com/drpgifts/gifts.htm

What makes this different from the normal service that Temper of the Times provides is that the selections in this program are at a fixed price
(They do reserve the right to cancel if the stock moves up sharply)

The Normal cost is Actual share price plus 20.50 or 15.50

Orders must be received by May 25th

For those who do not know
Temper of the Times offers an enrollment service, You decide what plan you want to enroll in and send in the proper amount of $$ and they take it from there, once your enrolled all transactions are with the Transfer Agent and you never need to talk to Temper again.
This service is the alternative to having a broker buy your first share,then having the Stock registered in your Name, then contacting the transfer agent, then you send in the enrollment form.

This is to the Moneypaper Home page.
http://www.moneypaper.com
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Disney for the little ones, maybe Coke or McDonalds for the older ones, etc

Remember that Disnet and McDonalds are both high-fee DRiPs. Coke is fee-free.

Cheers -

george
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<<3. The Letter.

I'll share a draft of the letter if there is interest.>>

"Uncle Bill", How are you coming with the letter?
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SlateBelt Date: 5/19/99 2:46 PM Number: 8119
"Uncle Bill", How are you coming with the letter?

Readers of this thread will recall that intend to followip on the Fribble from a while back and make DRiP graduation presents to kids. I asked people here to help with selecting a company, selecting a book, and editing the cover letter.

I was originally enthused about putting Mickey Mouse to work for these kids, but the Disney DRiP is too expensive. I've settled on Coke as a popular product with an affordable program.

I received about a dozen suggestions for a book. I've been too busy to check into this further, but I like the things I've heard about The Wealthy Barber. I'll let you know what I finally decide on.

What follows is a draft of the cover letter. Recipients might be as young as 12 or as old as mid twenties. If I decide to risk a family feud, it might even be siblings in their 40's.

Comments, suggestions, and revisions are welcome.
============================================
Wishing you a long life of being Healthy, Wealthy, and Wise.

Your parents have taught you Healthy. Your teachers have taught you Wise. Uncle Bill is going to teach you the secret to Wealthy. This gift is a Wealth Creation Toolkit. I don't know why they keep this a secret, but it's easy to become wealthy. You only need to know two things:

1. "Rich" is not the same thing as "wealthy." "Rich" means spending a lot, "wealthy" means owning a lot. Fast cars and fancy clothes can make you rich, but they lose value quickly, so they can't make you wealthy.
2. The easiest way to become wealthy is to own part of a good company. America has gazillions of good companies that are growing and making money for their owners every year. Become a part owner, and they are making money for you.

If you get into the habit of saving some money regularly and buying good companies, the companies will make you wealthy.

You're thinking "But Uncle Bill, that won't do me any good because I can only save small amounts, and it takes lots of money to buy stocks." Wrong. You are now part owner of Coca Cola, the best known brand name on the planet. Everytime somebody on this planet drinks a Coke, you get a tiny bit wealthier.

If you get into the habit of investing some money regularly, you will become wealthy. It doesn't need to be a lot of money, but it needs to be regularly. This gift, this "Wealth Creation Toolkit," this Dividend Reinvestment Account, is the secret to investing small amounts. You can send them money any time - anything over ten dollars - and they will buy you a bit more of the Coca Cola company.

After a while you will want to own other companies, too. The book will help. And I will help. Call me when you're ready for the next lesson on getting wealthy.

Love,

Uncle Bill
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"Uncle Bill', Your letter is great! (Post # 8120). I'm assuming that we can beg, borrow, and steal parts of it for our own use?

<< Wishing you a long life of being Healthy, Wealthy, and Wise >>

I liked the way you tied these three things in, but my first thought, being a Fool, was - "not Wise". We want them to be Foolish, not Wise! I know you meant it in a different sense than the way we think about the Wise on this site. And when they call you for "the next lesson" I'm sure you'll have something to say about Foolishness!

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"Uncle Bill', Your letter is great! (Post # 8120). I'm assuming that we can beg, borrow, and steal parts of it for our own use?

<< Wishing you a long life of being Healthy, Wealthy, and Wise >>

I liked the way you tied these three things in, but my first thought, being a Fool, was - "not Wise". We want them to be Foolish, not Wise! I know you meant it in a different sense than the way we think about the Wise on this site. And when they call you for "the next lesson" I'm sure you'll have something to say about Foolishness!
I'm going to check out The Wealthy Barber.

Thanks for sharing. Slatebelt
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Sorry about the double post. It just automatically posted before I was finished! (??)

Another question for "Uncle Bill": I was set to buy Tricon Global Restaurants for a graduation gift. But I found out that the information on their plan that I got from Netstockdirect was incorrect. They listed a no fee plan and when I called I found out it's a $5 fee for OCP's. Can you tell me what the fee is for Coke? (I know I could go look it up but if you tell me I won't have to!) I'm considering Xerox now. They have no fees for OCP's. Eastman Kodak also has no fees and you don't have to purchase the one share from a broker either. If I don't decide soon my graduate will be graduating from college instead of high school!! As it is now he's going to get his gift late - hopefully before he leaves for college, though!
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I found the book "Buying Stock Without a Broker" by
Charles B. Carlson to be very helpful.It covers DRiP's
and particularly Initial ivestment directly from the company in question.

I am thinking about doing the same thing for a nephew.

Good luck

Draxx
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SlateBelt Date: 5/20/99 3:21 PM Number: 8139

"Uncle Bill', Your letter is great! (Post # 8120). I'm assuming that we can beg, borrow, and steal parts of it for our own use?

This letter is made available under the general principles of the Open Source Software community. That means you are completely free to use it and adapt it as you wish, but you are under a moral obligation to share with the community any improvements you make.

<< Wishing you a long life of being Healthy, Wealthy, and Wise >>

I liked the way you tied these three things in, but my first thought, being a Fool, was - "not Wise".


Good point. One of my best mentors taught me the principle of progressive revelation. The idea is that comprehension and accuracy are often at odds with each other. So you initially give a simple, easy to understand explanation that may not be completely accurate in all particulars. Progressive steps from there reveal, as necessary, the "exceptions" and "special cases" etc. I judge this to be an acceptable tradeoff under the principle of progressive revelation, especially since "Wise" is never used in the context of investments.

But that just means it was the best I could think of. If you figure out something that will work better for the target audience - kids and young adults nearly ignorant of investments - please don't hesitate to share it.

Uncle Bill
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SlateBelt Date: 5/20/99 3:35 PM Number: 8142
Another question for "Uncle Bill": I was set to buy Tricon Global Restaurants for a graduation gift. ... it's a $5 fee for OCP's. Can you tell me what the fee is for Coke?

Ouch. I'm hoping the nephews and neices and 'adopted' family members will send in $10 and $20 amounts to Coke. A $5 fee makes is completely useless for this purpose.

My understanding is that Coke is completely fee free, at least at this time.

Aunt Fay and I celebrated our wedding anniversary last night. Over dinner I revealed this plan to her for the first time. I wasn't sure she would approve. She was very supportive, and I now have several more missed graduation presents to catch up on.

Uncle Bill
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Draxx Date: 5/20/99 4:32 PM Number: 8146
I found the book "Buying Stock Without a Broker" by
Charles B. Carlson to be very helpful.


Other have recommended the Carlson books, too. I browsed his web site, and thought it was a trove of information for the motivated student. But I'm intending to bestow drip accounts and Dutch Uncle advice on unsuspecting kids. My guess is the Carlson books would almost always be ignored, whereas up to half might read The Wealthy Barber.

If any of the kids call for "the second lesson" before they have accumulated $800, I'll probably introduce them to Carlson. After $3200 I would introduce them to the Motley Fool (1% buying commission on the Foolish Four at $8).
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As readers of the thread know, I'm designing gift Drips for kids 13-25 that will have a drip account, a book, and a letter. All three parts are being refined with input from other Fools here on this thread.


About the Book for Siblings

Some gifts will go to siblings that could easily share a book. In those cases, I'm thinking of giving one kid The Wealthy Barber and the other kid The Millionaire Next Door, and telling them to read then swap. Comments?

Uncle Bill
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They listed a no fee plan and when I called I found out it's a $5 fee for OCP's.

Plans do change from no-fee to fee-based, so it's important not to reply totally on the information in any particular Internet database. Read the actual prospectus from the company carefully. And of course, if you find an error in Netstock's database, they really appreciate it if you take the time to let them know so they can correct it.

Trevar
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The Book

I spend some time in the library today looking at The Wealthy Barber and The Richest Man in Babylon. I liked Babylon better, although it might be because I'm not a Tigers fan. I'm about to buy books for the first gifts. I'm leaning towards a list that looks like this:

1. The Richest Man in Babylon
2. The Wealthy Barber
3. The Millionaire Next Door
4. The Motley Fool Investment Guide

Most people will get the the first book. In cases where it seems inappropriate or duplicate, I'll give books further down the list.

I'd love to hear about any experiences with books for people not already tuned into the idea of investing.
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WilliamLipp - Your list looks pretty good! Some other books I have great easy reading for beginning investors are: Buying Stocks without brokers,Stocks for the long run, The best 100 stocks in America and The intellegent investor. These would also be appreciated! Fool On!
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William, we gave both of our grown children the Motley Fool book, You Have More Than You Think. I liked that as a gift because it deals with the whole picture, getting started, handling money as well as credit cards, buying houses and cars, and learning to invest. It was well received! (They are 29 and 32; I read one myself before I gave it away!)

Mary
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<<And of course, if you find an error in Netstock's database, they really appreciate it if you take the
time to let them know so they can correct it.>>

Could I e-mail them with the corrected information? And just how does one send an e-mail to NetstockDirect?
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Could I e-mail them with the corrected information? And just how does one send an e-mail to NetstockDirect?

Go here to e-mail Netstock Direct:
http://www.netstockdirect.com/about/contact.asp

Trevar
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<<Go here to e-mail Netstock Direct:
http://www.netstockdirect.com/about/contact.asp>>

Thanks, Trevar. I sent them an e-mail. It amazes me how much you people know about navigating the net. How did you know that link? I'm thrilled that I finally learned how to "copy & paste" when I post a message!!
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Thanks, Trevar. I sent them an e-mail. It amazes me how much you people know about navigating the net. How did you know that link? I'm thrilled that I finally learned how to "copy & paste" when I post a message!!

I'm sure Netstock will appreciate your taking the time to help them keep their database accurate. They will probably write back to you and thank you within a few days. How did I know about that link? I just scoured the Netstock site and read it all -- every available link! The more time you spend on the web the more "tricks" you will learn for finding things. As it develops, some basic conventions/standards are arising. So it gets easier to find things. Have fun! Ain't the Internet grand!

Trevar
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Bill et al:

After reading all of the good posts in this thread, I posted the following message to Tom and David Gardner on the Improve the Fool board and received the following reply from TMFDryad.

My post

Tom and David,

There's been a discussion on the DRiP boards recently that was started by a man who is putting together a gift for some grads. He's going to include a letter from himself to the giftee explaining the purpose of the gift, notification of a newly opened DRiP account for the giftee, and a book on investing. He asked for suggestions for a book choice, and several people suggested various books, including The Motley Fool Investment Guide, You Have More Than You Think, and several others.

I thought it would be really great if there was a Motley Fool book geared specifically for young investors, that parents/grandparents could use in situations like this, or that would simply be available to help younger investors who are just getting started. The info in Fool U would be a great start for a book.

Trevar

Reply from TMFDryad:

Trevar and Frank47, thanks so much for suggesting and seconding the idea of a book targeted at younger investors! I think you'll be pleased with what we have planned for next year. I'm not at liberty to say more about it now, but as soon as I can, I'll post more details!

Foolishly,

Gabrielle Loperfido
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<<The more time you spend on the web the more
"tricks" you will learn for finding things.>>

You're absolutely right. I guess "experience is the best teacher".

Also, I just want to let you know I really appreciate your posts. I just came back from the DIS board where things are getting rather uncomfortable. (I only "lurk" there!) I (and I'm sure many others) appreciated your sensible post over there. And I guess I'm off topic over here - sorry.

I'm still looking for the "perfect" DRiP stock for a graduation gift. Will check into TYC & ENE. Thanks.
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Here's another reply I received on the "Improve the Fool" board regarding a TMF book geared for young investors:

Trevar --

I too like the idea of a Fool book geared toward the young. But I'd also point out that "You Have More Than You Think" has a lot to offer young would-be investors. Perhaps it might be a good choice until something more targeted is available.

One other good book for young people and adults is Peter Lynch's "Learn to Earn". It offers far fewer chuckles than the typical Fool book, but does teach many important concepts.

Selena
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Update on the gifts.

I bought 15 shares of Coca Cola on May 25th in my SureTrade taxable account. I'm going to wait until the settlement date to request transfer to my name.

Uncle Bill
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I bought 15 shares of Coca Cola on May 25th in my SureTrade taxable account. I'm going to wait until the settlement date to request transfer to my name.

Bill,

I'm a Suretrade customer as well. If I might offer a suggestion.... you may want to go ahead now and send the e-mail to support@suretrade.com to request the transfer and shipping of the certificates. In the e-mail, use the subject Transfer/Ship and include your name and account number in the body of the e-mail. As you may know, Suretrade will only transfer and ship the certificates to the name and address on the Suretrade account. You will then have to ask the Transfer Agent to transfer the shares to each giftee's name, if that's your final intent (I can't reall from your previous messages).

It takes Suretrade a while to process such requests and the sooner you get it to them the better. You will want to watch your Positions screen on the Suretrade website to see when the shares drop off your list of Positions. If you don't see this happen after about 7 days, I suggest you call Suretrade's 800 number to make a "second request."

Once the shares are off your "Positions" screen, they will have been transferred from "street" name to your name. It may then take 3-5 weeks before the actual certificates reach you. Suretrade is a bit slow about doing this, but they don't charge a penny for the service, compared to $15-$20 at most other brokerages, so the bit of extra prodding I've had to do doesn't bother me.

Good luck!

Trevar
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Trevar Date: 5/26/99 4:55 PM Number: 8211
you may want to go ahead now and send the e-mail to support@suretrade.com to request the transfer and shipping of the certificates.

I like to keep it very simple for the folks at SureTrade - I don't trust their ability to handle complexity. I was worried that mixing this up with settlement might be more complex than their procedures could handle.

You will then have to ask the Transfer Agent to transfer the shares to each giftee's name

I've been planning and depositing them all in a Drip account in my own name first, and then transferring from there. Only five shares are going out as gifts immediately. Do you believe it will be less hassle to change the names and then open the drips?
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Do you believe it will be less hassle to change the names and then open the drips?

Bill,

I appreciate your wish to keep it simple. It's usually a good idea. I just wasn't sure what your time frame was for the gifts and didn't want you to be disappointed if the transfer/ship process took longer than you expected.

I have not yet had to deal personally with asking a transfer agent to transfer a share to another name, though I may be doing this to help a friend acquire a first share of Intel. I imagine that each transfer agent has its own process. Maybe someone else who DRiPs KO could step in here and explain how KO's transfer agent handles this.

Trevar

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I've been planning and depositing them all in a Drip account in my own name first, and then
transferring from there. Only five shares are going out as gifts immediately. Do you believe it will be
less hassle to change the names and then open the drips?


Bill: I have done exactly what you are working through. I deposited all of the shares into my DRiP account then instructed the transfer agent to transfer the single shares to the family member's DRiP account, whcih meant that I was opening the account for them. The transfer agent sent me some forms to get signed and such but it went smoothly. I found that this way the better way to go since SureTrade would get confused if I asked them for 8 certificates of a single share of the same company.

Good luck and keep us posted for the results of presentation. You might ask the transfer agent if they have a "gift" certificate that can be presented to the person.

Jenn
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'm about to buy books for the first gifts. I'm leaning towards a list that looks like this:
1. The Richest Man in Babylon
2. The Wealthy Barber
3. The Millionaire Next Door
4. The Motley Fool Investment Guide


I liked TMF Investment Workbook better than the guide. It stops and asks you questions and lets you work out the problems, and still has that Foolish sense of humor running through it. I never finished reading TMF Investment Guide.....got bored and ....well, I found the site here and started like "conversing" with all of the REAL Fools (that's all YOU guys... and gals) while using the Internet to do my research into companies.

ok, so I ran over 2 cents.........

Diane
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Update on the gifts.

I'm going to test the abilities of the SureTrade folks. On Thursday I emailed a question about whether SureTrade supported direct registration of securities. I included these links to explain what direct registration was:

http://www.thecoca-colacompany.com/investors/index.html
http://www.equiserve.com/content/invstr_services/faq/index_faq.htm

In less than an hour I received a response that merely said "yes, SureTrade supports direct registration." This was good news.

I quickly sent another question, asking how to request a transfer with direct registration. This was answered with a canned response about how to get certificates mailed to me. This was bad news. But I never expect the very best customer service from a company I have selected on the basis of low cost.

I've slso priced the books. Amazon.com and BarnesandNoble.com have the exact same price, to the penny, for my books. The local Barnes and Noble store didn't have them on the shelf.

Heres the status update:

May 30: Asked SureTrade to change name via DRS
May 28: Settlement date
May 25: Purchased 15 ahsres of Coca Cola (KO) in my SureTrade taxable account.

Uncle Bill
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I've slso priced the books. Amazon.com and BarnesandNoble.com have the exact same price, to
the penny, for my books. The local Barnes and Noble store didn't have them on the shelf.


Bill:
another site to check book prices is www.buy.com I have used them as well as Amazon. Good luck on the direct stock transfer.

Jenn

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jkrou Date: 5/30/99 11:46 PM Number: 8281
another site to check book prices is ">www.buy.com

I've never used them for books, although I have bought things and comparison shopped them for other things. Their book prices are lower. My previous experience has been that higher shipping at buy.com often outweighs the advantage of lower prices. I'll need to check this out for my case.

Uncle Bill
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Update on the gifts:

It sounds like SureTrade failed their test - they were asked to use Direct Registration to change the shares. Direct Registration System would have avoided the step of physical share transfer - see earlier posts on this thread for links with more information. But the Coke infomation line at 888-CokeShr says that I have 15 certificate shares registered in my name. I assume the certificates will show up in the mail "real soon now," probably making this whole process 2-3 weeks longer than necessary.

June 13: Voice mail request for registration materials at the 888-CokeShr number
June 10: Shares disappear from SureTrade online
May 30: Asked SureTrade to change name via DRS
May 28: Settlement date
May 25: Purchased 15 shares of Coca Cola (KO) in my SureTrade taxable account.
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It sounds like SureTrade failed their test - they were asked to use Direct Registration to change the shares. Direct Registration System would have avoided the step of physical share transfer

William,

Do you know for sure that Suretrade uses Direct Registration to transfer shares? There's nothing on their website to indicate that they do. My experience is that they transfer the shares out of "street" name to the shareholder's name, but then the matter is turned over to the company's transfer agent to produce and actually mail the physical certificate(s) and that's where the longer waiting period occurs. For example, my Intel certificate came to me from Mercantile Bank, not U.S. Clearing. And it took about 3-4 weeks after Suretrade transferred the share off their records. I admit -- this is a piece of the pie that I don't totally understand.

Trevar
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Trevar Date: 6/13/99 2:26 PM Number: 8426
Do you know for sure that Suretrade uses Direct Registration to transfer shares? There's nothing on their website to indicate that they do.

It's a bit of a mystery. If you scroll back on the thread a few messages, you'll see my report of email discussion with them. One person from the "support@suretrade.com" group responded clearly that they did do this. But the followup question of "how" hit somebody else in the group, who just send the on-line information about physical certificates. My guess, based on my Keogh problems with SureTrade, is that they have the ability to do this, but haven't trained anybody how to use it. As I've said elsewhere, though, I don't really expect stellar performance from a vendor I have selected based on price. It was a known risk on my part, and an opportunity to rise above expectations on their part - they lived down to expectations.
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Thanks, William, I will definitely be pursuing this with Suretrade the next time I need to transfer shares.

Trevar
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Update on the gifts:

The books were cheaper from Buy.com than from Amazon.com. 5 copies of The Richest Man in Babylon plus 3 copies of The Wealthy Barber were $72.15 from Amazon and $64.45 from Buy, including shipping. Turns out Aunt Fay had already ordered the books from Amazon earlier in the week, though, when she was buying for herself.

The enrollment form is one of the simplest forms I have ever filled out. One box to check, sign the form, put it into the postage paid envelope.

The first gift goes out on Saturday; it will be an explanation of the gift-to-come.

Uncle Bill

=====================
June 17: Enrollment forms received and returned
June 14: Aunt Fay orders books from Amazon.com
June 13: Voice mail request for registration materials at the 888-CokeShr number
June 10: Shares disappear from SureTrade online
May 30: Asked SureTrade to change name via DRS
May 28: Settlement date
May 25: Purchased 15 shares of Coca Cola (KO) in my SureTrade taxable account.
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Looking good Bill, enjoy your timely updates. I will be watching for the oooooohs and ahhhhhhhhs when they receive them!

jenn
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Update on the gifts:

As expected, the Share Certificates showed up today, confirming that SureTrade's minions were unable to use their Direct Registration System. The Coke web site says to use "brown pre-addressed return envelopes" when mailing in certificates in order to use their insurance. There doesn't seem to be any way to order these through the web, so I called 888-CokeShr, and they are sending one.

Today we learned that Aunt Fay had not ordered the books afterall, so today I ordered 5 Richest Man in Babylon and 3 The Wealthy Barber from buy.com, cheaper than Amazon.

Uncle Bill

=====================
June 18: Stock certificate arrives, insured envelope reqested.
June 18: Books ordered from Buy.com
June 17: Enrollment forms received and returned
June 13: Voice mail request for registration materials at the 888-CokeShr number
June 10: Shares disappear from SureTrade online
May 30: Asked SureTrade to change name via DRS
May 28: Settlement date
May 25: Purchased 15 shares of Coca Cola (KO) in my SureTrade taxable account.
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As expected, the Share Certificates showed up today, confirming that SureTrade's minions were unable to use their Direct Registration System.

Oh-Kay....I just called Suretrade to try to get a grip on this. Suretrade said the system is called "DTC" but the customer service person I spoke with didn't know what the acronym actually stood for. He said Suretrade has a "DTC number" which is 0158. He instructed me to give this number to the transfer agent and the transfer agent should then be able to electronically transfer the shares from "street" name to the shareholder of record. I then called Intel's transfer agent, Harris Trust & Savings, because Intel is the company I personally have some shares I would like to transfer from Suretrade to my name. The customer service person there said services like the Moneypaper and NAIC use the DTC system. He said the system might be used by other transfer agents for some companies, but Harris Trust is not using the DTC system to transfer shares of Intel at this time. They still only accept transfers of shares done by the broker with the hardcopy certificates mailed to the shareholder of record. Then, of course, as we all know, the shareholder of record is welcome to send the certificates in to the transfer agent for safekeeping, if s/he wishes to do so.

It sounds like this might possibly be used more broadly in the future. A call to KO's transfer agent would probably answer the question of whether or not they are currently transferring shares in this way.

Trevar
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Trevar Date: 6/18/99 2:34 PM Number: 8520
It sounds like this might possibly be used more broadly in the future. A call to KO's transfer agent would probably answer the question of whether or not they are currently transferring shares in this way.

I hadn't thought about working it from that end. At this time, of course, it does me no good because I already have my paper certificate. Next time!
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In a previous post, I wrote: The customer service person there [at Harris Trust] said services like the Moneypaper and NAIC use the DTC system.

In thinking more about this, it made me wonder why, if the Moneypaper is using the DTC system, it takes so long for the share transfer and account setup to be finalized. dfish, are you listening? ;-)

Trevar
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<<In a previous post, I wrote: The customer service person there [at Harris Trust] said services like the Moneypaper and NAIC use the DTC system.

In thinking more about this, it made me wonder why, if the Moneypaper is using the DTC system, it takes so long for the share transfer and account setup to be finalized. dfish, are you listening? ;-)>>

Trevar: When mine took so very long earlier in the year, I found out that MP sends a diskette of information to Harris Trust and if the disk is corrupted then time stops....as was my case. It did eventually get straightened out but it took an additional two months to get going.

jenn
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When mine took so very long earlier in the year, I found out that MP sends a diskette of information to Harris Trust and if the disk is corrupted then time stops....as was my case. It did eventually get straightened out but it took an additional two months to get going.

So, it sounds like it's not a truly "electronic" shre exchange system, just a mechanism by which Moneypaper can transfer data.... I wish we could get more information about this, like whether any of the transfer agents are using it, and if it's any faster than the current system of handling the paper certificates.

Trevar
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" In thinking more about this, it made me wonder why, if the Moneypaper is using the DTC system, it takes so long for the share transfer and account setup to be finalized. dfish, are you listening? ;-)"

Trevar ,
I've gotten the impression from Dave Fish and others on this list the delays lie with the transfer agents not MP . I sent in a check this week to MP . Be interesting to see how long it takes . Hey Lisa--want to race ?

Randy


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Trevar ,
I've gotten the impression from Dave Fish and others on this list the delays lie with the transfer agents not MP . I sent in a check this week to MP . Be interesting to see how long it takes . Hey Lisa--want to race ?
Randy


Randy,
I'll join that race. I mailed a check to MP for an INTC share on Thursday, 6/17. We'll see what the timetable is on this.

John
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Trevar,

. dfish, are you listening?

Temper provides all the data to transfer agents on disk, as well as on hard copy immediately after the shares are purchased.

Unfortunately...as I've mentioned in the past...it's then up to the tranfer agents to eith er be quick...or not, as is too often the case. It sounds like they are basically ducking the question. The gist of it is: we can't make them do anything quickly. Here's another clue: as has been mentioned, Harris often sends no notice to the new account holder once the account is set. But many folks have been able to get their account number and send in a first OCP fiarly early. If, on the other hand, you simply wait until Harris send you a first statement for, say, Intel, you won't get one until the first reinvestment. That's their (Harris') practice at work. It could, therefor, appear to take close to three months when (unbeknownst to you or us) a new account may already be open...and waiting to be used.

dave fish/moneypaper
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Randy,
I'll join that race. I mailed a check to MP for an INTC share on
Thursday, 6/17. We'll see what the timetable is on this.
John

Hey John!!! Be prepared for a snail race to the finish!!! I mailed my check for INTC to MP the first week of April, and am still waiting!!!
-zany
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Dave;
Thanks for the clarification on this. This must be what happened in my case, and I am sure the stock split hasn't helped speed up the process any..I am off to call Harris...Oh darn...gotta wait till Monday : )
Thanks again,
a zany investor gal : )
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Hey Lisa--want to race ?

Randy start your engine! I have rounded the 'order confirmation' turn and I think I'm probably headed down a long straightaway for now :)
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Update on the gifts:

The books came this week. I got some of the Social Security numbers. But the brown insured prepaid mailing envelope for depositing the stock certificate hasn't arrived. I requested it using a different method, email to fctc_cocacola@em.fcnbd.com (given as contact information on the Coke web site).

Uncle Bill

=====================
June 26: email request for insured envelopes to First Chicago
June 26: Three of five Social Security Numbers collected
June 24: Books arrive from Buy.com
June 18: Stock certificate arrives, insured envelope reqested 800-CokeShr
June 18: Books ordered from Buy.com
June 17: Enrollment forms received and returned
June 13: Voice mail request for registration materials at the 888-CokeShr number
June 10: Shares disappear from SureTrade online
May 30: Asked SureTrade to change name via DRS
May 28: Settlement date
May 25: Purchased 15 shares of Coca Cola (KO) in my SureTrade taxable account.
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Update on the gifts:

Still waiting for the insured mailing envelope to send in the Coke shares. Sent request 3 and 4, one by phone and one by email. If it doesn't come soon, I'll just send it uninsured.

Uncle Bill

=====================
July 2: email and phone re-request for envelope
June 26: email request for insured envelopes to First Chicago
June 26: Three of five Social Security Numbers collected
June 24: Books arrive from Buy.com
June 18: Stock certificate arrives, insured envelope reqested 800-CokeShr
June 18: Books ordered from Buy.com
June 17: Enrollment forms received and returned
June 13: Voice mail request for registration materials at the 888-CokeShr number
June 10: Shares disappear from SureTrade online
May 30: Asked SureTrade to change name via DRS
May 28: Settlement date
May 25: Purchased 15 shares of Coca Cola (KO) in my SureTrade taxable account.
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Regarding our Race:

6/17/99 - Mailed the check to MP for INTC
6/28/99 - MPC tells me they entered the order in their system on 6/22/99. (6/25 was their monthly cutoff)

Nothing else since.

How's anyone else going on this process.

John
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I mailed a check to Temper of the Times on 6/15 for INTC, they tell me it was entered into their system 6/17. Don't remember exactly when I got the statement, but it was over a week ago.

Waiting to hear more...

Never go on an adventure without a hat!
Indy

http://users.interconnect.net/indy/
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Update on Gifts:

Today I finally filled out the first five transfer forms (downloaded from the web), got a medallion signature guarantee at my bank, and mailed them. I decided to list their address as my own address so they don't get mailings before they receive the gift. I'll send in change of address forms as part of giving the gift.

When I last reported, I was waiting to receive the special insured envelope to mail in the certificate. I was surprised when it turned out to be just a brown preaddressed envelope.

For those new to the thread - I will be gifting Drips to assorted nephews, neices, etc. In this thread I have received advice about the stocks (I chose Coke because of $10 OCP minimum), books (I chose The Richest Man in Babylon, with siblings getting The Wealthy Barber), and cover letter (draft on this thread someplace).

Uncle Bill

=====================
August 20: Medallion Signature Guarantees on 5 transfer forms mailed
July 28: internet shows "certificate" shares gone
July 14: mail certificated to First Chicago
July 2: email and phone re-request for envelope
June 26: email request for insured envelopes to First Chicago
June 26: Three of five Social Security Numbers collected
June 24: Books arrive from Buy.com
June 18: Stock certificate arrives, insured envelope reqested 800-CokeShr
June 18: Books ordered from Buy.com
June 17: Enrollment forms received and returned
June 13: Voice mail request for registration materials at the 888-CokeShr number
June 10: Shares disappear from SureTrade online
May 30: Asked SureTrade to change name via DRS
May 28: Settlement date
May 25: Purchased 15 shares of Coca Cola (KO) in my SureTrade taxable account.
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I agree 100% that DRIP investing is a neat way to start someone out on investing. However, how does one feel (ME) in this case? Dec. 97, we transfered 8 different DRIPs to each of our 5 adult children making about a $200 Xmas gift. No books involved, just simple explanation of how they worked and advantages. We agreed to put an amount in on each of their birthdays and more at Xmas, rather than buying frivolous things, just for the sake of buying "something"
Since then , NOT ONE SINGLE ONE OF THE 5, has even put a single $1.00 into the ones that allow that little or anything in fact! This year decided, why should we guarantee their future, and went to sending a cheque for the same amount. However, am seriously thinking of changing back again, as that money was to inspire their interest, but do not want the gift money used to buy a case of beer or pay the hydro bill. (nothing against beer, but that wasn't the intention) Or go back to straight gifts? These are not kids, but ages 32-43 ! Decided would do this for their children with one share, one company only, but the parents have been told they are "in trust for" not in the young ones own names. Maybe THEY will gradually get some interest, who knows.
Any suggestions?
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Lewes,
I guess I have to ask you...what do YOU feel like knowing your children are not contributing to these drips? I know someone who's father did that for him and it took until there had been enough compounding for him to see the benefit, this took about 5 years, then he started to put some money in on his own.
Maybe they are not interested in the companies you have given them?
Perhaps you should buy them something they picked and then you might have different results or not.
You have to decide what you want to give them for their gifts....whether they contribute or not doesn't mean they don't like it.
Ginny
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Lewes,

My parents did much the same except they made the intial 250 purchase in Exxon for me and my two siblings. At first they kept the forms etc so all we knew was it existed but not how to get at it or to contribute to it. Mind you I was/am the youngest and I was 30 when they started this 3 1/2 years ago.

But it sparked my interest and when I started to ask about it, dad gave me Chuck Carlson's book to read and that is how I started to invest. I have a few more drips now and contribute every month but it was my parents gift that got me started and for that I thank them. I am fairly confident my two siblings have other DRiPs now as well, so in my families case it was well received and put to good use.

Not sure if this helps answer your question about how to get them more interested but at least it should show that there is hope. We didnt leap into this right away but the seeds fell on furtile ground, just took a while to take root.

Andy
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Dec. 97, we transfered 8 different DRIPs to each of our 5 adult children making about a $200 Xmas gift. ... Since then , NOT ONE SINGLE ONE OF THE 5, has even put a single $1.00 into

You can't teach someone who isn't ready to learn. That's frustrating when you know the thing you want to teach will improve their lives, and even more frustrating when the unteachable person is a loved one. The only thing you can do is wait for the teachable moment, and be ready to pounce when it arrives. I'd make contributions to the accounts once every other year or so to keep it from being forgotten entirely. At about that same frequency I'd give an investment beginner's book of some kind. Beyond that, you gotta love em and wait for them to get ready. Wishing you good luck and adequate patience.
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