How does one find out if old oil co. stocks are worh any thing?

Question

I have just recently come across some old oil co. If a larger oil co. bought out these smaller companies years ago and I still have thier stock certificates are the worth anything? Most of these stocks are from the early 1900s. What would be my first step in cashing them in or finding out what they are worth?

Answer 1

Alternately you could eMail me the pertinent information and I'll check it out for you free of charge. I have access to a Bloomberg terminal and would be more than willing.

[e-mail]

And put "Adam V - Yahoo Answers" in the title.

Answer 2

A generous offer from the guy above but I'm affraid Bloomberg won't be of much help. Their records don't go back that far.

Going to a broker like Merrill Lynch as the other person suggested my be a little painful because they may not be able to trace it in a regional office without a lot of legwork. Also, they tend only to do work if it's going to make them money. If the certs are wothless they make no money. And they will charge you regarless I imagine.

My suggestion would be to do a bit of research yourself. If it were me, I would do this:

1) Google the name on the certificates and see what you can find. Maybe you'll get lucky. The name of those companies could be tucked away in a present day companies website under company history or who knows where. The internet has everything these days. If that yeilds you something phone up the existing company and speak to their investor relations dep't. They will point you towards their transfer agent (person who registers their certificates) and the transfer agent will tell you what you need to do.

2) If the above doesn't get you anywhere then I would look on the certificate for the name of the company/bank/lawyer who issued the certificates in the first place and maybe a search for them will get you somewhere.

If you are still no where then I would phone up a few brokers and see if any of them will help you or can recommend someone who specializes in tracing old companies.

Good luck, I hope they're worth millions.

Answer 3

There is a huge book that lists all US companies and trails them through mergers and stuff, it tells you what each certificate is worth. I used to work for Smith Barney and they had one of these books of course. Thats where my help ends sorry but I do have some good advice:

Go to Dean Witter, Smith Barney or Merrill Lynch. Ask for the "broker of the day" this is usually a brand new guy out of training and he gets all the phone calls nobody wants in the hopes he can open an account. Open an account with him/her, bring in your certificates to them and let them do the work. If they are worth a lot of money then sell them and all you will pay is the 2% commission to the guy/gal that did all the work for you, small price.