Dear traymick-ga;
Thank you for allowing me to answer your interesting question.
According to Eugene DeStaebler, Vice-President of Closed-End Fund
Advisors, Inc., the Madison Fund no longer exists:
?If a fund cannot retain a large portion of their distributions, it
can become uneconomic to operate. These are big issues for smaller
funds which are not a part of a larger complex where the advisor has
other means to cover expenses. When expenses rise faster than assets
or if the net assets decline, it may become uneconomical to continue
to operate. That is what happened with Niagara Share, Madison Fund,
U.S. and Foreign and dozens of others that no longer exist as they
were no longer viable.?
CLOSED-END FUND ADVISORS
http://www.cefadvisors.com/Jul_2001.html
On June 13, 1984 Madison Fund, Inc. (formerly Pennroad Corporation)
changed its name to Madison Resources, Inc. Later Adobe Resources
Corporation consolidated with Madison Resources to form Adobe
Resources Corporation and on May 19, 1992 merged once again to become
Santa Fe Energy Resources and several acquisitions took place
thereafter.
HISTORY OF DEVON ENERGY CORPORATION
http://www.devonenergy.com/ir/faq_files/santafesnyder_historical.aspx?disclaimer=yes
Today, what once was Madison Fund, has been swallowed up many times
over and has ultimately become part of what is now Devon Energy
Corporation, the largest U.S.-based independent oil and gas producer
and one of the largest independent processors of natural gas and
natural gas liquids in North America.
DEVON ENERGY CORPORATION
http://www.devonenergy.com/about/index.aspx
As per your question about cashing in shares, you may or may not be
out of luck. I recommend you contact Devon Energy Corporations
Shareholder Services Division and begin to make your inquires there
first. Perhaps they can direct you to the best course of action:
Transfer Agent:
Wachovia Bank, N.A.
Shareholder Services Group
1525 West W.T. Harris Blvd.
Bldg. 3C, 3rd Floor
Charlotte, NC 28288-1153
1-800-829-8432
http://www.devonenergy.com/ir/shareholder_services.aspx
If this does not prove to be productive your best bet is to consult an
investment counselor who is capable of researching your old shares in
an effort to determine if they are still viable.
I hope you find that my answer exceeds your expectations. If you have
any questions about my research please post a clarification request
prior to rating the answer. Otherwise I welcome your rating and your
final comments and I look forward to working with you again in the
near future. Thank you for bringing your question to us.
Best regards;
Tutuzdad-ga ? Google Answers Researcher
INFORMATION SOURCES
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MADISON FUND
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DEVON ENERGY CORPORATION |
