W.t. Grant stock

[mrbill]

BACK IN 1970, UPON MY MARRIAGE, MY FATHER-IN-LAW TOLD ME THAT MY SPOUSE WAS GIFTED $250k IN W.T.GRANT STOCK, HIS FORMER EMPLOYER. THE NEXT DAY THE STOCK DROPPED AND THE COMPANY WAS DECLARED BANKRUPT IN 1976. I STILL HAVE MANY STOCK CERTIFICATES. DO THEY HAVE ANY VALUE ? I WAS TOLD THAT A SPECULATOR MIGHT BE WILLING TO BUY THEM FOR LOW, VERY LOW VALUE. DO I HAVE ANY OPTIONS ? THANKS,

[JON]

Irwin Jacobs(financed by his good friend Carl Pohlad)

I think the above person purchased the accounts receivable for a penny on the dollar and made a fortune on it. that would be about 1974 and I think the was one of the final liquidation activities. When he gifted it seems questionable - unless he had a very low basis. I do not know if stockholders would have had any liquidating distributions. Were the shares changed to reflect the gift? If not and a loss I would believe that
he would have taken the loss????

[JohnH]

I took a quick look on ebay. Seems like certain designs of the stock certificates over the years may have some collector value. But those are asking prices, not necessarily what anyone is paying for them.