Wednesday, December 06, 2006 9:06:23 AM
Sorry to pour cold water on your imagery, but in those days "par" was $100. If you don't sell your original issue at par, they are not "fully paid and non-assessable" so all new issues came out at $100.
Along those lines, however, a friend's grandfather bought 100 shares of AT & T when it went public and put the cert in his safe deposit box. In the 1960s, we debated whether the cert was as valuable as a collector's item than the several $million it had become. He had never bothered to send it in for the splits, etc.
Dino
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