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To: Schnullie who wrote (105245)7/17/2008 2:11:50 PM
From: Tommaso  Respond to of 206352
 
I just asked my broker to "ship out" the fully paid certificate and after a while I got it. A lot of stocks have been converted to "book-entry-only" and you can't do that; I have not tried to take delivery of any more certificates since then--was sent an additional one for the 5-1 split. Shares in IRAs have to be street name or book entry, of course.

The distributions are handled by Computershare, the transfer agent, and come directly from Toronto. They do take out the 15% witholding, but the check is in US$.



To: Schnullie who wrote (105245)7/17/2008 2:19:51 PM
From: Tommaso  Respond to of 206352
 
Notice you ask "why" certificates. J. Sinclair is getting quite wrought up over this lately.

Owning the certificate removes some layers between me and the company and makes my ownership more secure. It also removes IRS reporting, though of course I pay the taxes due. There's a slight inconvenience in watching for the quarterly checks, one of which did once disappear in the mail and had to be replaced.

I don't expect any problems with shares held by my broker. But then I don't expect my house to burn either, yet I do buy insurance. Just additional peace of mind having something more material under lock and key.