Anybody with information please HELP!
I have spent a LOT of money in research already.
Are these bearer bonds redeemable?
My experience.
Don’t count on the old paper bearer bonds being easy to redeem.
Even if you still have position of the original bonds and coupons.
especially if they are past there due date. Since my last e-mail to the
Auditor of State Arkansas unclaimed property.
I have contacted the SEC CUISP issuer, operated by Standard and Poor’s. The State Treasure twice and ADFA in Little Rock. The County Recorders, City
Recorders, Mayors, one semi-retired City Attorney, and one Sheriff who was filling in for a new recorder who was out sick that day. I have also contacted a local Broker, who would “look” into it to see if these bond are redeemable. These two bonds are Industrial Revenue bonds from the state of Arkansas and were never registered.
Subject: To xxxxxxx xxxxx-BONDS-From xxxx xxxxxx
From:
xxxxxxx@xxx.com
Date: Tue, February 13, 2007
To:
xxxxxxxx@auditorjimwood.org
Date 2/13/07
Dear Ms. xxxxxxx xxxxx
Your request is a simple one. I have been chasing this information you
requested. I have dealt with banks from Knoxville to Germany
these two bonds are the only ones so far with a CATCH-22 problem.
The paying banks are not forth coming with what seems simple information. I have phoned, faxed and mailed out copies of these bonds.
I have mailed out the original bonds if requested by the banks to do so
only to have them returned unpaid.
I have called, mailed and/or e-mailed the FDIC, assorted banks listed as
the paying agent and pryer paying agents before these banks merged, bank managers, bank trust, bank corporate trust, bank bondholders, bank
escheated, bank research departments and assorted bank branches, the
Arkansas State Treasure, Arkansas Revenue Office, which I found out is
what we call here the “DMV” office” and a nice man at Arkadelphia.com,
Charles Bandt who tried to help me get the information on the Piggott Bond with a 3-way call to Debbie Dehon. Regions Bank in Little Rock.
He also
helped me contact a Kent Shorder, Bank of New YorK Trust, ST. Louis.
These bonds do not have a CUSIP number on them, I was told they did not
issue CUSIP numbers until the mid to late nineteen seventies.
On the Piggott Bond, first Regions Bank said the previous paying agent was Union Bank, Union bank said it was Bank of New York.
I have called and sent a information package with copies on the bonds to them on January 2007, no reply yet. Last week I was told the prior paying agent may have been Union Planter Bank.
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On the OZARK Bond, Bank Of America,
sent the bond to for collection, Bank of America in Dallas, TX They returned the bond with a note saying “please contact municipality issuing bond.” Called Bank Of America, I was told to contact the previous paying bank on the Ozark bond is U.S. Bank Corporate Trust Services.
I have called and sent a information package with copies on the bonds to
them on January 2007, no reply yet.
Last week I was told the prior paying agent may have been Nations Bank.
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It was suggested to me that I:
1. Pay 50-60% of the bond face value for someone gather the information
needed.
2. Sell the bonds outright for 50 cents on the dollar.
3. I get a lawyer who will charge 80-90% of the bond face value .
4. Buy
picture frames and hang them on the wall.
5. Start over, find some other way to research these Bonds.
6. Put the bonds away and try again within the next 10 years.
7. Burn them and forget it.
Catch 22. Getting no were fast. Any suggestions? I am going to take a few
days and step back from this because #4, 6 and #7 look good! *: )
R M
:angry-smiley-054: :angry-smiley-054:
Are these Bearer Bonds redeemable?
Re: Are these Bearer Bonds redeemable?
