Value of 1903 Mining, Milling and Development Stock Certificate?

Question

I bought a stock certificate for $17 from an estate sale; the owners died and their family was selling everything in the house.

The certificate is of El Fuerte Mining, Milling and Development Company bought in 1903 for 500 $1 shares. I know already that El Fuerte used to be part of Mexico before being sold to the U.S and later became part of Tucson, Arizona. I think in that region, El Fuerte was a silver mining town with gold prospects. Other than that, I cant find the company or who to ask about the stock or even if it still has value. Any suggestions?

Answer 1

He is the compliance challenge:

If the certificate is not in your name, you won't be able to claim ownership.

You will have to prove you bought it and have it Medallion Stamped at a bank or broker.

Once that is done, you can deposit it into a brokerage account (most banks don't know how to manage money, or lend it so use a broker),  then the Transfer Agent will research the cert to see if is worth anything.

To my market history knowledge, 99% of all mining companies went BK by the Depression. One of the few that survived and still exist today is 3M (founded in 1902).

Answer 2

From what you are saying, it sounds like this may have been a Mexican company.  Have you tried researching it from that angle?

Have you tried talking to a broker about it?  A good broker might be able to find out or at least tell you how to research it.

Answer 3

I would look for a deed and other documents in the Tuscon record clerk's office at the Courthouse.   I am not sue when AZ became a state; but, I assume by 1903.  Usually the Articles of Incorporation are filed in the Courthouse of the corporate headquarters and the statutory officer upon whom service of process can be served, usually the Sec. of State.   I think you can have some fun with "treasure trove."  The stock certificate should have some value to a local historian of the Tucson area or to the general public who collects stock certificates like some people collect baseball cards.  I am not  as familiar with Southwest U.S. history as an adult should be.  But, I bet you that a clerk who has worked at the courthouse deed vault for 25 or so years would have some oral history on El Fuetre Mining.  I would check backwards. Meaning, check with the courthouse and especially the Sec. of State's office in the capitol, Flagstaff, if memory serves.  BTW: what kind of mines operate in AZ?  Copper, zinc?  I have grown up around nat gas and coal subsurface deeds.   Again, if nothing else, you have an historical document that should be worth as much as any Diamondback baseball card.  Good luck with our hunt for added value.  You may be a copper baron!  I assume the kids felt the certificate had no market value and the company is out of business.  But, who knows if there is a successor in interest?