thebossrf...
In the following case, documented on the site of
Quilling, Selander, Cummiskey & Lownds, P.C
Attorneys at Law, it is noted that:
"Security Bank's predecessor, Flower Mound Bank, began in 1984,
when Joe Ackley, with whom appellees had conducted numerous
banking transactions over the years, became president of
Flower Mound Bank and brought appellees' business to Flower
Mound Bank with him. On March 2, 1988, Flower Mound Bank
was declared insolvent. Its assets were sold and transferred
by the Federal Deposit Insurance Corporation ("F.D.I.C.") to
appellant Security Bank. Gary Acker was installed as president
and chairman of the board of Security Bank, which opened for
business on March 3, 1988. Acker owned approximately eighty-one
percent of the stock in a holding company which was the sole
owner of Security Bank."
The case:
Court of Appeals of Texas,
Fort Worth.
SECURITY BANK f/k/a Flower Mound Bank and Gary L. Acker, Appellants,
v.
William H. DALTON, Jan M. Dalton, Dalton & Son Funeral Home, Inc. and
Martin Oaks Cemetery and Crematory, Inc., Appellees.
No. 2-90-051-CV.
Jan. 16, 1991.
http://www.qsclpc.com/attorneys/mike%20quilling/cases/803%20SW%202d%20443.htm
Since "declared insolvent" is another term for "bankrupt",
according to the 'Business & Marketing Glossary' on the
Raynet website:
"Bankrupt - a person, firm, or corporation that has been
declared insolvent through a court proceeding and is
relieved from the payment of all debts after the surrender
of all assets to a court-appointed trustee."
http://www.raynet.mcmail.com/glossary.htm
...it would follow that any stock for a company that has
been "declared insolvent" would have no remaining value.
Please do not rate this answer until you are satisfied that
the answer cannot be improved upon by means of a dialog
established through the "Request for Clarification" process.
A user's guide on this topic is on skermit-ga's site, here:
http://www.christopherwu.net/google_answers/answer_guide.html#how_clarify
sublime1-ga
Searches done, via Google:
"Flower Mound Bank" stock
://www.google.com/search?q=%22Flower+Mound+Bank%22+stock
bank "declared insolvent" "stock value"
://www.google.com/search?q=bank+%22declared+insolvent%22+%22stock+value%22 |
Clarification of Answer by
sublime1-ga
on
28 Nov 2003 07:54 PST
thebossrf...
You said:
"guess as to what was paid on 08/30/1984 for the stock?"
Although this query was not included in the original post,
I did attempt to locate this information while answering
this question - based on the interests you demonstrated
in your other postings about Vlasic stock - with no success.
Another thing to bear in mind in the future is that
Researchers are less-than-motivated to conduct additional
research, especially when it was not specified in the
original question, when the question has already been rated
with a mediocre or less-than-satisfactory rating.
To this end, I specifically included the request not to
rate this answer until you were satisfied that the answer
could not be improved upon by means of a dialog established
through the "Request for Clarification" process.
Perhaps if you know the stock symbol for the Flower Mound
Bank stock, you will be able to utilize the resources
supplied by omnivorous-ga in response to your other question:
"The NY Times is available at many public libraries online
via the Proquest Historical Newspaper collection."
"There are some resources for looking up stocks that are no
longer traded, but you'll need to know the stock symbol:
Big Charts 'Historical Quotes'"
http://bigcharts.marketwatch.com/historical/
"Yahoo also allows one to look up historical stock quotes on
its Finance site, but it requires registration:
'Yahoo Finance'"
http://www.finance.yahoo.com/
"In the Yahoo case you start by requesting a CURRENT quote for
a stock symbol, then once it's returned there's a menu
allowing you to pull up a HISTORICAL quote."
http://answers.google.com/answers/threadview?id=281117
Regards...
sublime1-ga
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