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Lane, JD, CFP, MBA
Lane, JD, CFP, MBA, JD, CFP, MBA, CRPS
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Over 25 yrs. ago, I bought shares(I think 200 shares-half in

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Over 25 yrs. ago, I bought shares(I think 200 shares-half in my name Carol D Adcock and half in my daughters name Andrea E. Burch) of EchoBay Mines stock from a stock broker (I think A.G.Edwards Co.?=brokers name "Judy"). I received dividend checks for approx. .32 for some time, which I did not cash most of the time. The brokerage house retained the stock certificates. As time passed, I no longer heard from the broker, the brokerage house or Echo Bay Mines.About 6 or 7 yrs ago, I tried tracing down the company and found it to be a Canadian traded stock. I emailed a trace request to the Canadian equivalent of the U.S. SEC, but never received an answer. Can you get me an answer?


P.S. I realize this will take some time, so, no hurry. I'll be leaving now to run some errands. Take your time.


Thanks


Carol

Submitted: 1 year ago.
Category: Finance
Expert:  Lane, JD, CFP, MBA replied 1 year ago.

NPVAdvisor :

Hi,

NPVAdvisor :

Your best bet is to check with the last company you had it with and see who the "transfer agent" is

NPVAdvisor :

A trust company, bank or similar financial institution assigned by a corporation to maintain records of investors and account balances and transactions, to cancel and issue certificates, to process investor mailings and to deal with any associated problems (i.e. lost or stolen certificates).

NPVAdvisor :

If you can get hold of AG Edwards - they keep what are called shells of the accounts (empty records) open for years for compliance reasons - and give them you information, they may be able to tell you who the transfer agent is

NPVAdvisor :

In many cases, you can find out which transfer agent a company uses by visiting the investor relations section of the company’s website. You also can use the website of the Securities Transfer Association, a private trade organization of transfer agents. The STA provides general information about the functions of transfer agents. Please note that the STA is not equipped to respond to individual inquiries via the telephone, mail, or e-mail. Shareholders with any transfer related inquiries would be best served by speaking to the transfer agent or issuer for the security in question, or their broker-dealer.

NPVAdvisor :

I'm going to swith us to the Q&A mode to give me some time to do a little digging myself, but going back to AG Edwards may be your most efficient bet.

NPVAdvisor :

Check back here, though

NPVAdvisor :

Lane

Lane, JD, CFP, MBA, JD, CFP, MBA, CRPS
Category: Finance
Satisfied Customers: 4487
Experience: Providing Financial, Tax & Business advice since 1986
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Expert:  Lane, JD, CFP, MBA replied 1 year ago.

See this while I'm looking: (wouldn't use Wickipedia as any sort of authority, but its a good place to start digging)

The Echo Bay Mines Limited company was organized in 1964 to develop a silver deposit at Great Bear Lake, Northwest Territories, which became known as the Echo Bay Mine. The company leased the old Port Radium settlement from Eldorado Mining and Refining Limited and used the old camp and mill to recover silver and copper values. Production in the Echo Bay workings ceased in 1975. The company then reopened the old Eldorado Mine workings and produced more silver and copper until 1981 when low silver prices closed the mine for good. Echo Bay Mines Limited was busy opening a new gold mine by that point - Lupin Mine, in what was then the Northwest Territories and is today in Nunavut. It entered production in 1982. Echo Bay Mines Limited developed numerous other properties mostly in the United States, including the McCoy/Cove and Round Mountain mines in Nevada, and the Kettle River mine in Washington. Corporate headquarters were in Englewood Colorado.

The company became a subsidiary of Kinross Gold Corporation in 2003 and has been delisted from the stock exchange.

The see this, from 2010

http://www.nytimes.com/2010/08/03/business/global/03gold.html?_r=0

Still looking,

Lane

Lane, JD, CFP, MBA, JD, CFP, MBA, CRPS
Category: Finance
Satisfied Customers: 4487
Experience: Providing Financial, Tax & Business advice since 1986
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Customer: replied 1 year ago.

Hi Lane,


Thanks for all your hard work. Your expertise is valuable and my ignorance is palpable.


I am not even sure it was A.G. Edwards. After 25+ yrs. my memory is really foggy. I'm sure that you have addressed that possibility somewhere within your answer, but I can't determine where that is.


Unfortunately, you are dealing with a 1st graders mentality concerning stocks, stock market, transfers and transfer agents.


I don't have a clue as to a starting point.


If you could, please take me step by step in this process.


BotXXXXX XXXXXne, I don't know if
A.G. Edwards has closed it's doors or is still a viable brokerage (I know I could look that up) or even if it was them. But if the brokerage suddenly disappears and the broker
disappears and the stock certificates are with them, can Echo bay


also disappear with no notification whatever to the stockholder. And is that stock, where ever it went, still viable.

Expert:  Lane, JD, CFP, MBA replied 1 year ago.

On your last question? No, from what I've seen so far it looks like they've been absorbed by several of the mergers that went on on the last 10 years ... and your finding something on the Canadian market supports that they were probably rolled up into that Kinross gold corp ... and then maybe again from there.

Let me keep digging a bit. Maybe check back tomorrow?




On your end:

... yes A.G. Edwards IS still around (BUT as Wells Fargo Advisers) ... And there's another firm that people many times confuse with them; XXXXX XXXXX ... ( and what adds to the confusion is that they're both out of St Louis)

AG Edwards was bought by Wachovia, (who was bought during the banking fallout by Wells Fargo), so now the old AG Edwards firm is part of Wells Fargo Advisors ... see this:

https://www.wellsfargo.com/about/corporate/agedwards

Maybe you could call and tell them your story? See if one of them couldn't pull up a record for you?




But I will keep digging on my end. I know a couple of folks in the industry that might be able to point me in the right direction.

Check back tomorrow if you don't mind.

I'll post more as I find it.

And here's the contact info for XXXXX XXXXX and Wells Fargo Advisors:

https://www.edwardjones.com/en_US/index.html

https://www.wellsfargoadvisors.com/wfa/contact-us.htm


Lane

Lane, JD, CFP, MBA, JD, CFP, MBA, CRPS
Category: Finance
Satisfied Customers: 4487
Experience: Providing Financial, Tax & Business advice since 1986
Lane, JD, CFP, MBA and 2 other Finance Specialists are ready to help you
Customer: replied 1 year ago.

HI LANE.


Late getting back to you. So sorry. I had submitted another question Re: Echo Bay mines, but the answer indicates it's "locked"? Which is a first and I don't understand it.


Were you able to obtain further information, and can I recover , at least my initial investment.


Posing a hypothetical scenario.> a person buys 200 shares of a stock, puts the certificates in a safety deposit box for future anticipated grandchildren then walks away and forgets about them.


The , then future grandchildren ,open the box, expecting an inheritance after Grandmothers demise, only to find the stock is worthless? Is it legal for companies to absorb the issuing company's stock without any notification to the stockholder? Basically stealing. Is there any redress opportunity for this type of situation? Take your time and I'll catch up to you.


Thanks


Carol

Expert:  Lane, JD, CFP, MBA replied 1 year ago.

Hi Carol,

I have not been able to find anything ... yet.

However, my guess is that you do have some value there. We just need to do the considerable digging to see which company bought which company.

The only way the stock would be worthless is if there were a bankruptcy or business failure somewhere along the way.

If your original company was purchased or merged into another company, and that company is till a going concern, then you have ownership in the purchasing company (OR were offered cash along the way somewhere, and never accepted, in which case there could actually be money in escrow somewhere for you.

The buyout for the original company would have to either be a purchase for shares, or cash, or some of both.

I have meetings all day today, but if you'll hang with me, I'll get on this this evening.

And again, on your end ANY information you can provide here, will help - who the original broker actually was, contents of the last statement you received (NO PERSONALLY IDENTIFYING INFORMATION PLEASE), exact information on your stock certificates (such as CUSIP Number).

The only way you would have worthless stock is if the company that you have ownership in, via the stock, OR one of the subsequently purchasing or merged companies failed, liquidated in bankruptcy, or is currently insolvent.

If you give a little more time, (and keep providing ANYTHING at all that you can, in terms of information, I think we can get to the bottom of this.

Lane


Lane, JD, CFP, MBA, JD, CFP, MBA, CRPS
Category: Finance
Satisfied Customers: 4487
Experience: Providing Financial, Tax & Business advice since 1986
Lane, JD, CFP, MBA and 2 other Finance Specialists are ready to help you
Expert:  Lane, JD, CFP, MBA replied 1 year ago.

Hi Carol,

Echo Bay ...

Company Profile
Echo Bay Mines Ltd. mines, processes, and explores for gold. The Company also produces silver at its McCoy/Cove mine in Nevada. Echo conducts mining operations in Nevada and Washington in the United States and in the Northwest Territories of Canada.





Was acquired by ...

Kinross Gold Corp

Currently trading at 4.87 per share (up 1.25% today in trading)



You should contact their investor relations department and they can help you convert your shares.

Here's the contact information:


Investor Relations
Tom Elliott, Vice-President, 
Investor Relations
Telephone:(NNN) NNN-NNNN
Email:XXX@XXXXXX.XXX


Give them a call and let me know how it goes.

Lane

Lane, JD, CFP, MBA, JD, CFP, MBA, CRPS
Category: Finance
Satisfied Customers: 4487
Experience: Providing Financial, Tax & Business advice since 1986
Lane, JD, CFP, MBA and 2 other Finance Specialists are ready to help you
Customer: replied 1 year ago.

Thank you Lane! this is excellent information and I will follow it to the letter.I'll bring you up to speed as soon as I know something.


I still don't understand that "locked " business and don't know if it contained any useful information or violated a top secret national security FYI highly redacted document.


Seems a little silly for someone to get their thightey- whitey's in such a knot for ???? I dunno

Expert:  Lane, JD, CFP, MBA replied 1 year ago.


Yes, the folks that run things here can be ... well... interesting :)

DO let me know.

And if you'd like to work with me again, just say "For Lane only'" at the beginning of you question.

They "TELL" me that it will get to me that way...

We'll seee
Lane, JD, CFP, MBA, JD, CFP, MBA, CRPS
Category: Finance
Satisfied Customers: 4487
Experience: Providing Financial, Tax & Business advice since 1986
Lane, JD, CFP, MBA and 2 other Finance Specialists are ready to help you

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