The document is a letter summarizing the transfer of 3,143,000 IBM shares represented by certificates for cremation. The total value of the IBM capital transferred was $1,156,624,000 based on a share price of $368 on February 1, 1972. An appendix includes a certificate of cremation, letter of transmittal, and IBM share price history table with February 1, 1972 highlighted.
Transfer IBM Stock Certificates Worth Over $1 Billion in 1972
1. To Whom It May Concern:
Regarding the Transfer of IBM Stock Certificates
Estimated Capital
Assuming that the “less than hundred” certificates are processed at 99 shares per certificate, and the
“Blank”certificatesare processed at1000 sharespercertificate;the IBMCapital involvedinthistransfer
amounts to:
7000 certificates at 99 shares per certificate, amounts to: 693,000 shares
8000 certificates at 100 shares per certificate, amounts to: 800,000 shares
1650 certificates at 1000 shares per certificate, amounts to: 1,650,000 shares
______________
TOTAL IBM CAPITAL TRANSFERRED FOR CREMATION 3,143,000 shares
Value of Estimated Capital: (In U.S. Dollars, at $368.00 per share 01/Feb/1972) is: $ 1,156,624,000.
I might also add that this transaction required my signature just three times.
Trusting that this has been instructive, I am:
Yours very truly,
Daniel J. G. Stumpf
Appended below:
1) “Certificate of Cremation”, from British American Bank Note Company Ltd., dated February 23, 1972
2) Letter of Transmittal to British American Bank Note Company Ltd., from National Trust Company Ltd.,
dated February 11, 1972
3) Table: IBMShare Price History, in U. S. Dollars, from 1970 to 2015; February 01, 1972 highlighted