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Politics : Ask Michael Burke
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To: Knighty Tin who wrote (92875)11/5/2001 4:36:35 PM
From: Tommaso  Read Replies (2) of 132070
 
MB, I have been trying to get a certificate shipped out for my (for me) rather large position in FAX that's in my brokerage cash account. When I checked into it, I was told something about a "problem with getting that many shares together." Being a paranoid SOB, I wonder if that means that the broker never actually acquired the shares, and that all I have is a book-keeping entry.

Wait--I just got a phone call, and now the explanation is that because I linked the account to something with check-writing privileges, the stock transfer has to go through the bank that handles that account.

Maybe everything is OK, but I go back to the old, old days where you bought the stock and then the certificate came in the mail rather soon after that.

I wonder if all this frenetic electronic trading may not have created some very serious book-keeping problems that would gum things up pretty badly if a lot of people actually wanted to cash out of the market.
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