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Q: "Worth of 250 shares from Old Dominion Oil and Gasoline Company of Tulsa, OK?" ( Answered 3 out of 5 stars,   0 Comments )
Question  
Subject: "Worth of 250 shares from Old Dominion Oil and Gasoline Company of Tulsa, OK?"
Category: Business and Money > Accounting
Asked by: oldstocksearch-ga
List Price: $80.00
Posted: 26 Jul 2003 10:35 PDT
Expires: 25 Aug 2003 10:35 PDT
Question ID: 235376
What are my stock certificates from 1919 and 1921 for 250 shares of
"Old Dominion Oil and Gasoline Company" a Delaware Corporation located
in Tulsa, OK. worth today? There were 1,250,000 shares outstanding at
the time. Is it now Exxon?

I have read that a Mr. James R. Duffin was an "organizer of Old
Dominion Oil Company, which at the time was largest concern of its
kind in KY.  After he promoted it to success, he sold its interests to
Standard Oil Company".  I have also read that Standard Oil established
British Columbian Operations with Old Dominion assets in 1935.  Are my
shares convertabe to Exxon shares?

Later articles have indicated that Aspen Group Resources which is
listed OTC as "ASPGF" and "ASPGE" completed acquisition of oil and gas
assets from Old Dominion Oil for "all cash, terms undisclosed" of
which 90% reserves are natural gas, over 400 properties in 6 states.
Answer  
Subject: Re: "Worth of 250 shares from Old Dominion Oil and Gasoline Company of Tulsa, OK?"
Answered By: pafalafa-ga on 26 Jul 2003 11:30 PDT
Rated:3 out of 5 stars
 
Hello, and here's hoping that you're a millionaire (but don't start a
spending spree just yet).

I've done a bit of poking around on this, and find that there are two
similarly named companies:

1.  Old Dominion Oil and Gasoline Co., incorporated in Delaware, and,

2.  Old Dominion Oil, incorporated in Texas.


As far as I can tell, you own the first of these companies, while it
is the second (Texas) company that was picked up by the Aspen Group
(which is probably fortunate for you, since Aspen seems to be tanking
fast, and is suing its former CEO for embezzelment).

The best I can offer you is this.  There are numerous companies that
will conduct a stock certificate search for you for a fee (usually
around $40-50) in order to determine the current value of the
certificates.  I have located one such company that has Old Dominion
Oil and Gasoline Co. in its data set, and will provide a report for
you to help establish the value (if any) of old certificates.

If you would like information about this service as an answer to your
question, let me know.  If not, perhaps you can suggest an alternative
way to proceed on this.

Thanks....and best of luck!

pafalafa-ga

Clarification of Answer by pafalafa-ga on 26 Jul 2003 11:35 PDT
Ulp!  I'm sorry.  

I meant to post my remarks as a "clarification" but instead,
accidentally posted it as an answer.  I can have the editors remove
the answer as soon as possible, but it may not happen until they are
back at their desks on Monday.  I know this is an inconvenience and
again, my apologies.

In the mean time, though, you can still add information here to let me
-- or another researcher -- know how you would like to proceed.

Request for Answer Clarification by oldstocksearch-ga on 26 Jul 2003 14:54 PDT
I know that these are the Delaware Corporation, as I stated in my
email.  The Certificates are registered to my ascendant, Dr. H.R.
Drury.  One Certificate is for 200 shares # 1212 issued November 26,
1919.  The second one is for 50 shares issued July 1921  # 2182.  At
the time there were 1,250,000 shares outstanding.  My question was not
about their origin, but their worth.  It is "Old Dominion Oil and
Gasolin Company", a Delaware Corporation.

Request for Answer Clarification by oldstocksearch-ga on 26 Jul 2003 14:58 PDT
I know that these are the Delaware Corporation, as I stated in my
email.  The Certificates are registered to my ascendant, Dr. H.R.
Drury.  One Certificate is for 200 shares # 1212 issued November 26,
1919.  The second one is for 50 shares issued July 1921  # 2182.  At
the time there were 1,250,000 shares outstanding.  My question was not
about their origin, but their worth.  It is "Old Dominion Oil and
Gasoline Company", a Delaware Corporation.  I am confused about the
total price for this, are you saying it will cost me  $80.00 plus an
additional $40.00 to get an answer?

Clarification of Answer by pafalafa-ga on 26 Jul 2003 16:23 PDT
Man, oh man, oh man...  

I'm sorry I made such a mess of the process here with my premature
posting.  But I've got things worked out now, and have a full -- but
unhappy -- answer for you.

I pulled up the record for the Old Dominion Oil and Gasoline Co. from
Stock Search International at:

https://www.stocksearchintl.net/

Don't worry...there is no additional charge to you for this.

According to Stock Search, Old Dominion Oil and Gasoline "voluntarily
relinquished" its charter in 1927, a polite way of saying they went
belly up.  There were so little resources available for the creditors,
that shareholders (always last in line to see anything in a
bankruptcy) received nothing.

"Consequently," the Stock Search report concludes, "your shares are
valueless."

I wish I could have given you better news, but at least now you know
where you stand.

Let me know if you have any additional questions about all this.

pafalafa-ga
oldstocksearch-ga rated this answer:3 out of 5 stars
Very quick to respond.  Pending clarification of the answer.

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