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Technology Stocks : MRV Communications (MRVC) opinions?
MRVC 9.975-0.1%Aug 15 5:00 PM EST
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To: Seth Leyton who wrote (5457)10/14/1997 9:39:00 PM
From: Robert G. Harrell   of 42804
 
Seth,
<OFF TOPIC QUESTION> Perhaps you or KOVICH, as stock market professionals, can help me with a problem I'm having with Dean Witter. My wife's grandfather founded a land title business which was sold last year to First American Financial. We received a little over 2000 shares for our interest and began selling it soon after it came off restriction in September. The good news is it had doubled during the year's restricted period. The bad news is Dean Witter says they can't pay us until our certificates are replaced by First American Financial who are supposedly taking their sweet time. Dean Witter says I can trade the money with them (at their ridiculous full service broker rates) before the certificates are replaced but they can't release the money. Does this sound right to you? I'm really ticked off because I've already margined my account with my online broker almost to the max expecting this money immediately after the sales and now my hands are tied and I'm watching some real undiscovered jewels that I've owned and was planning on adding to run up big time as they are getting discovered. I went with a full service broker because a family member who had worked for the Land Title company before the new owners cleaned house had become a broker and could handle all the paper work in person. I was afraid that something might go wrong trying to get the 144's etc. handled by Jack White on the other coast from me and the savings in transaction costs might be lost in missing the best selling opportunity if something did get screwed up. Now I wonder if I made the wrong decision. Any suggestions you might have for getting my money out of Dean Witter would be greatly appreciated.

Thanks in advance,
Bob
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