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old stock

Posted by J pickle  
J pickle May 16, 2012 01:04PM
I have found a old shares cetificate that belonged to my family. It is dated June 1st 1908 and signed by H. I. Welch. It is for 100 shares in Four Metals Mining Company. Certificate # 717. My question is since the company is still in buisness do you still onor the stock? If so what would I need to do?

Thanks J Pickle
Maggie Wilson May 16, 2012 01:11PM
I'd contact the company and ask them.
David Von Bargen May 16, 2012 01:36PM
"since the company is still in business" - Are you sure about that? In 1905 there were at least 3 companies of that name in Colorado, Utah, and Arizona. The vast majority of mining companies of that era went through bankruptcy during the Great Depression.

The mine and smelter were the ones in Inyo Co. California.

Looks like the company became insolvent sometime before 1912
See p 110

The mines, although consolidated after the
settlement of the litigation, were shut down
about 1877, mainly, it would appear, because
the large .bonanza bodies of argentiferous ga-
lena had been worked out. In the early eight-
ies the Carson & Colorado Railroad, a narrow-
gage line which connected with the Central
Pacific Railway at Reno, was completed to
Keeler and was expected to revive the mining
industry at the Cerro Gordo. The mine, how-
ever, was worked spasmodically by lessees until
it was acquired by the Great Western Ore
Purchasing Co. in 1905. A small production
was made by this corporation in 1907. Sub-
sequently the property was taken over by the
Four Metals Mining Co., which erected a 200-
ton smelter just east of Keeler and connected
it with the mine by an aerial tramway. This
company attempted to smelt the old slags from
the Cerro Gordo and to work the mine but
went into insolvency. L. D. Gordon and as-
sociates, who had obtained from the Four
Metals Mining Co. a lease to extract the zinc
ore of the mine, then took over the property
by purchase of the bonds of the insolvent cor-
poration. During 1912 the property was in
litigation, and in April, 1913, it was sold by
marshal's sale under foreclosure of mortgage.
It was bought by L. D. Gordon and associates,
but in 1914 in order to obviate any further
litigation a rebrganization was effected and
the Cerro Gordo Mines Co., which now op-
erates the mine, was incorporated.
To whom belongs the credit of recognizing
the zinc ores at Cerro Gordo is not certainly
known. Its discovery in important quantities
and its profitable exploitation are due to L. D.
Gordon. The first shipment of zinc ore under
the management of L. D. Gordon was made in
May, 1911; previously, however, the Great
Western Co. had made a shipment of two cars
but at a loss of $800.

There is some value in the stock certificate itself, which would depend on how ornate it is.

From an auction 10 years ago
"320. Inyo. Cerro Gordo. Four Metals Smelting and Mining Co. Incorporated in Arizona in 1906. Issued to W. J. Marsh for 702 shares in 1909. Signed by President H. T. Welch and Secretary A. R. Short. Uncancelled. Vignette behind masthead of mill with tramway extending up mountain that is probably a specific depiction of the Cerro Gordo tram. Black border with green underprint and gold seal. 8-1/4 x 11. Printer - Goes. The company's property included the Union mine, developed by an 800 ft shaft. Produced silver lead ore from 600 ft and 800 ft levels in 1910 (Mines & Copper Handbook, 1916, p. 502 & USGS Bull. 540, pp. 97-105) Folds, extremely fine. Est. $200-400"

Edited 6 time(s). Last edit at 05/16/2012 05:46PM by David Von Bargen.
Bob Harman May 16, 2012 04:41PM
Old stock certificates can be worthless or worth a great deal of money and everything in between. If you have the curiosity and/or the means, you should followup with the appropriate individuals. In 1975, while in medical training, I had a second job to make bit of extra money. I was a deputy coroner in Washington State. One day I was called on the natural death of an elderly woman who lived alone. As such, I had to take control of all her valuables until family could found. Among her possessions was 30,000 stock shares of a local Washington State silver and uranium mining company. She had bought them years previously for 10 cents a share. They were still valid at her death and worth more than $15.00 per share!. Quite a bit back then for a mining company. Another senario: if an individual bought stock in a company many years ago and the company was taken over by another company and taken over yet again and, all the while, the stock increased in value and split many times over it might be worth a great deal today. Anyone possessing the original certificates could redeem them so the certificates should be checked. Large, reputable brokerage firms routinely do this research on old certificates that are found as part of family heirlooms etc. CHEERS..............BOB

Edited 1 time(s). Last edit at 05/16/2012 05:29PM by BOB HARMAN.
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