Are these stocks and bonds worth anything?
My grandparents inherited a few stocks from an uncle that passed. I have no knowledge of stocks or bonds and I was wondering if anyone could help me figure this out.
Bethlehem Steel Corporation: 50 stocks (June 14, 1963)
The Columbia Gas Systems Inc: 70 stocks (Jan 27, 1960)
USWest, Inc: 10 Stocks (April 16, 1984)
USWest, Inc: 10 Stocks (May 28, 1986)
These two are mortgage bonds. Both bonds were taken out in June of 1963.
Pacific Gas and Electric (Mortgage Bond): $5,000 - due at 4 and 1/2% (Series DD) June 1, 1990
American Telephone and Telegraph Company (Mortgage Bond): $5,000 - due at 4 and 3/8% - April 1, 1985
Please do not tell me to go to a stock broker, my grandparent have already been to one and he was not helpful.
- MLv 61 decade agoFavorite Answer
Talk to a different stockbroker or investment advisor. Some are helpful, some are not. It really depends on how good they are at what they do. From what I found:
Bethlehem Steel Corporation - Went bankrupt in 2001 due to falling steel prices and bad management decisions. The stock is likely worthless at this point
Columbia Gas Systems: Also filed for bankruptcy in 1991. Probably worthless as well.
US West - US West is a telecommunications company. It was bought out by Qwest communications in 2000. Qwest is still a publicly traded company. These shares likely have considerable value still today.
Judging by how you described those bonds, they have likely matured at this point and are probably worth their par value plus interest. Likely more than $10,000. This money is probably sitting in a brokerage account somewhere and should be distributed to you. Look for some account statements from your grandparents in order to find out which stockbroker they were using previously. Start there. If not go to many places until you get some real help.
- astrospyLv 61 decade ago
Quest bought US West in 2000 for $69 per share. Since then Quest has gone from about 40 to 5 per share. So figure it might be worth about a tenth of it's value in 2000. I can't find records about US West stock value in the 80's but just as a sort of evaluation, suppose each share was worth $10 in 1986. By 2000, it was worth $69 as Quest bought the company in hostile takeover. So Figure today 20 shares might be worth 1/10x 20x$69, or about $138. That probably would take more money than it is worth to sell today. So I would forget the stocks and focus on bonds. You might contact the companies that issued the bonds, PG&E and AT&T, which are both viable companies today, to see if they can help you redeem them.
- nanetteLv 44 years ago
They perhaps may be well worth something some day, yet i would not assume it. by way of something, perhaps some pennies on the dollar perhaps. Are they bonds or favorite inventory? Bonds are in basic terms before favorite inventory interior the liquidation technique. Senior bonds are in basic terms before junior bonds, etc. certainly, as area of the reorganization technique, the government placed the screws to the bond holders massive time. certainly, i presumed that the senior bond holders did get a pertinence interior the hot employer.
- 1 decade ago
I do not have really sufficient knowledge about stocks but i just know u can go on google ( drip investing centre) and check and chat with other iinvestors like u and me and ask them about. I'm shure u will be happy.
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