Cashing in Old Private Stock

Discussion in 'Trading' started by TGregg, Jan 11, 2006.

  1. TGregg


    A relative just called, has some stock from Chris Craft Industries, including one certificate for a few hundred shares dated 2/10/83 (the rest are older, I presume). Not on account, he has these things on hand. Chris Craft apparently is privately held, and has switched owners several times.

    How does he sell? His small-town bank has said they can sell it, but I imagine they'll charge him a bunch in commisions. And what about dividends?
  2. TGregg


    61 reads and no replies, darn. Well, talked to the CFO of Chris-Craft down in Sarasota, he says they just bought the rights to the name. Told me the boat manufacturing part went bankrupt a while ago, but before that happened, CC expanded into the media biz, and Murdock bought CC Industries.

    So I'll call NY in the AM.

    Any help at all about selling stock in privately held companies would be appreciated. You can get a lot of love from a Mod*. :D
  3. mrmoose


    call the reorg department of the firm you trade with