Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Microcap & Penny Stocks : Rocky Mountain Int'l (OTC:RMIL former OTC:OVIS) -- Ignore unavailable to you. Want to Upgrade?

To: MichaelDP who wrote (17555)	11/13/1997 11:44:00 AM
From: TLWatson59	Respond to of 55532

Michael: In Andy's case we seem to be dealing with a "full service" broker and I in no way am excusing failure to perform. I am not sure about your case but I have seen greater foul ups over almost the last half century of both active involvement in the industry and as an independent investor. ( It really hurts to say half a century). On the other hand I have seen many references to E Trade, Schwab and a number of other "discount" brokers who apparently have thrown many roadblocks in the way of prompt transfer. In this case the main reason given by posters is that the broker does not want to lose the account by letting an investor hold his or her own shares. Perhaps a more salient reason might be the costs involved when weighed against the commissions charged plus the many complications that presented themselves as I discussed earlier. Many discount brokers in order to compensate for the reduced commission charges require acounts to sign hypothication agreements even if the acoount trades only on a cash basis. This enables the brokerage firm to earn money by lending out shares to other brokers to cover short sales. In any event there is no valid excuse for any unreasonable delay by any broker in fulfilling their obligations to their customers no matter how small. Best of luck, TLW