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Gold/Mining/Energy : Medinah Mining Inc. (MDHM) -- Ignore unavailable to you. Want to Upgrade?

To: superdow who wrote (14939)	6/4/1999 2:33:00 PM
From: David Colvin	Read Replies (1) \| Respond to of 25548

the account at issue held only mdin stock (no cash or back up securities), therefore, when I received the certificate the brokerage reduced the account value to zero. I can understand that they wouldn't let me trade the stock before i returned the certificate as they would have no collateral and would have to take legal action against me if I didn't pay up after selling As far as I'm concerned, as long as you have an account "in good standing" (no problems with the account and you don't owe them any money) and have never had a problem with them in the past, they should make the trade for you and trust you to deliver the $%#& certificates to them within the three day settlement period. If they wouldn't do such a "little" thing as for me as this I'd be thinking about getting another broker. Even I would have to call a trader to make a "broker-assisted" trade (I usually always trade electronically using Fidelity's Fox+ trading software) because if the shares aren't in my account (of course they aren't....I have the certificates) the software itself wouldn't let me make the trade. I'll have to call and see what the broker says. Still wondering though if those shares are registered as the certificate was issued in my name, and I simply returned it to the broker. If you returned the certificate, the shares should show up in your account. If they are shown in your account, the certificate is no longer valid and your shares are, once again, held in "street name". This is the key....all shares held in your brokerage account are, by definition, held in "street name". This applies to both IRAs and taxable accounts. This is not a margin account if that matters. Shouldn't make a bit of difference. One advantage of having shares in a "cash" account is that it prevents shorters from legitimately borrowing shares to short stock, with your broker's knowledge of course. This, however, shouldn't apply to stocks trading at $0.37 per share. Dave