joepar2567
Junior Member
Need some help on dealing with the transfer agent for my 83 year old mother-in-law that lives in Maryland.
We tried to liquidate a 20 share certificate of Stratton Monthly dividend Fund(Originally Drexel Utility Shares and then Energy and Utility Shares). The Broker she took it to could find no record of the certificate, and returned it to her. I called the transfer agent, and they could not find an account for her. They suggested I send a copy of the certificate to them with a letter of explanation so they could research it in their archives.
I just got a letter from them with her transcript's back to 1973. They showed a monthly dividend being paid until 12/29/87. On that date the certificate number that matches her original certificate was deposited in her account and then liqudated. The letter explained the certificate must have been reported lost, and a replacement certificate was issued before it was deposited and liquidated at my mother-in-laws request.
My mother-in-law has not recieved dividends nor has she even seen the Stratton certificate since she bought it in 1972. We found it when we sold her other old Drexel stock(Bond-Debenture fund now).She recieved dividends from that stock, so she was aware of it and the yearly 1099's, and has nothing from the Stratton Fund.
What should I do now?
We tried to liquidate a 20 share certificate of Stratton Monthly dividend Fund(Originally Drexel Utility Shares and then Energy and Utility Shares). The Broker she took it to could find no record of the certificate, and returned it to her. I called the transfer agent, and they could not find an account for her. They suggested I send a copy of the certificate to them with a letter of explanation so they could research it in their archives.
I just got a letter from them with her transcript's back to 1973. They showed a monthly dividend being paid until 12/29/87. On that date the certificate number that matches her original certificate was deposited in her account and then liqudated. The letter explained the certificate must have been reported lost, and a replacement certificate was issued before it was deposited and liquidated at my mother-in-laws request.
My mother-in-law has not recieved dividends nor has she even seen the Stratton certificate since she bought it in 1972. We found it when we sold her other old Drexel stock(Bond-Debenture fund now).She recieved dividends from that stock, so she was aware of it and the yearly 1099's, and has nothing from the Stratton Fund.
What should I do now?