To: Mike Gold who wrote (15120 ) 6/8/1999 3:43:00 PM From: David Colvin Read Replies (2) | Respond to of 25548
They rejected my request for share certs saying they are unavailable for at least one to two weeks from the Transfer Agent and that I will have to make a re-request for my certs at that time. Hmmm... Well, now I've heard it all! Just who do the $%*#& does E-Trade think they are rejecting your request for certificates? As a bonafide shareholder, you are entitled to certificates any %&$#@ time you ask for them!!!!! You paid E-Trade your real money for the shares didn't you? It is not E-Trade's place to "reject" a request.......period!! I'm sitting right here with certificates on another stock (took two weeks from the time I requested them until they arrived in my mail box) and I can tell you right now that if my broker "rejected" a request for certificates, some overseeing organization would be hearing from me, plus I'd get another broker pronto! I've even ordered and received certificates for a stock after trading was halted by the SEC! When I requested those certificates, my broker, Fidelity Investments, didn't even flinch and went ahead and ordered them anyway, knowing the stock wasn't trading. By the way, it took only about two weeks to get them also. The stock never traded again and I sold the stock to my daughter for $1 and took a loss equal to my cost basis minus the $1. Some large brokerages actually own a market maker and if that particular market maker was short it would be in that brokerage's best interest to delay (forever if possible) you're getting certificates. I'm not saying that is the case with E-Trade, but this is the very first time I've ever heard of a brokerage "rejecting" a request for certificates. Dave