When the Boston Celtics decided to sell their stock publicly, Idecided on a little self-indulgence.
As a Christmas gift, I bought myself two shares - that's right,two whole shares - of the basketball team. But here it is April andmy E. F. Hutton broker has yet to send me the certificates.
INVESTOR, Flossmoor
A. When your broker spoke, we listened . . . and heard him saythe shares would be in your hands by the time you read this.
The hoopla surrounding the Celtics going public caused a"deluge" of frustrated sports team owners to buy up shares. As aresult, the middlemen - the Boston bank handling the transaction andtranfer agents - couldn't keep up with the paper work and get thecertificates out.
Q. My stockbroker, Dean Witter Reynolds, insists I owe it morethan $500. Not so, for I have been contending the firm actually owesme $4.
This story began when some municipal bonds I held were calledin. The broker arranged payment, about $10,000, and I thought thatwas it. But the firm began dunning me, saying it had overpaid meapproximately $500. It was something about coupon charges on thebonds. What? There were no coupons involved.
For months now, I've been assured by brokerage house employeesthey will check the records and settle the matter. In the meantime,Dean Witter Reynolds charged my account $516, which now includes a $4service fee. MIKE
A. What good are municipal bonds on Ulcer City? In light ofeverything, your stomach evidently deserves a good turn, and DeanWitter Reynolds provided it. A company official said your accounthas been credited for $512 and a $4 check has been mailed.
Q. I know, I know. This sounds strange. But I've got to have a"Psycho" shower curtain. A friend said she saw them, complete withpicture of Anthony Perkins holding a knife, advertised in a magazine. SAM
A. Psycho shower curtain? You've got to be kidding. Somehow wecan't see this as a big seller. Besides, tracking down an offer inan unknown magazine is difficult indeed. We did take a stab at this(excuse the expression) by contacting a few bathroom accessory firms.But no one ever heard of it. Maybe one of our readers knows. Action/advice Old mine stock worth digging for
In my late grandparents' home, I found an old stock certificatewith the unlikely name The Unuk River Mining and Dredging Co. Maybethe old document, goofy moniker and all, might be worth something.
TOM, Danville, Ill.
A. You bet your bippy the document's worth something, though inname only.
Yesterday's Paper Inc., a collectors' service for paperantiques, offered $10 for it.
The firm, now in Naperville but soon to be of Laguna Hills,Calif., is also interested in old Valentines, postcards, Colonialnewspapers, Confederate money, and once even had a ticket to an 1885public execution in Tucson, Ariz.
To check the value of old stock, write the Secretary of State'sCorporate Division in the state where the company was located, orcheck reference books at the Chicago Public Library. A fewcompanies, such as R. M. Smythe & Co., 24 Broadway, New York 10004,for about $25, will research an old stock.
The Sun-Times would like to help you, too. All you have to dois ask. If you have a problem or question, write Action Time, 401 N.Wabash, Chicago 60611. Give complete information and your name,address and phone number. Send copies of important papers but keepthe originals. Include three stamped, long envelopes, two addressedto yourself and one to the source of your problem. We'll do ourbest.
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