• Any one got stock for sale?

  • All about the Arcade & Attica Railroad
All about the Arcade & Attica Railroad

Moderator: Benjamin Maggi

I am looking for shares..
  by Benjamin Maggi
I only response I can give you is "Good luck." It is a closely held corporation, and while I don't have the numbers on me I believe that there are under 2000 shares issued. I don't believe you will ever find it on EBay, except perhaps canceled shares, though I would bet the A&A secretary destroys them when they issue new ones as part of share transfers. I was offered two shares and though at the time was making temp. wages I jumped at them and have no regrets. They don't pay out dividends, so it is mostly for the collector in me, but I am proud to say I own a minority interest in the railroad.

The official A&A Secretary occasionally posts on this forum and he may be able to point you in the right direction should some come up but again I don't think it is all that likely.
If you own 2 can you sell me one share?
OTC stocks are traded on what are called the Pink Sheets. I want a share because it gets me a ticket to the annual meeting and my 2 cents to the board. Personally I feel that the railroad could do more on the freight side like having a intermodal yard and public bulk transfer yard. With fracking coming to NY state the A&A can be key players here as a station for pipes,chemicals and sand. Hell it could pay a small dividend if traffic were justifed and B&P and NS would get them decent service
  by Benjamin Maggi
I would suggest you compose your thoughts together into a letter and send it to the Board of Directors. It sounds like you have some ideas you would like to share. As for my stock, it is not currently for sale at any price; it is one of my most prized possessions.
LA&L south of Rochester was saved by local businesses and residents who bought stock in the new short line to save the tracks from being ripped up by the erie...part of the deal was that they run excursion steam trains which they did for the first couple of years in the early 80s then they stopped unlik A&A which remaned commited to the community .That is a another RR that I would like to buy into that shares are hard to come by
  by jgallaway81
If you do get a lead on more shares, would you be so kind as to email me direct if you don't buy them all? I also am interested in increasing my investment in the A&A, aside from my single share and the hundreds of volunteer hours on top of those I got paid for. Not to mention buying supplies for the company with the money that came from my paycheck from there, lol.
  by WNYP431
Intermodal? B&P? Board of Directors? Are you serious? Don't waste your time, or the time of those you love. Take up basket-weaving or self-mutilation...

At last count, there were 803 shares outstanding, most held by three big shareholders. Stock WAS being sold right out of the safe in the station by the Board of Directors until someone decided they didn't like that idea. A huge portion of A&A stock and proxy is never returned at the annual meeting, so I would suggest that you will get more real information from the New York State Attorney Generals' office. When they find out how much of the stock is unaccounted for, I'm sure something will happen from an outside entity to take those shares over and maybe force some positive changes to the railroad, or just scrap it. According to the by-laws, you have a right to be represented on the Board if you own 11% of the shares....good luck with that. Many of the shares out there were passed down and split up through families, and are currently held by people that probably think they are novelty stock, don't know where they are, or have assumed room temperature and are currently buried - right alongside the prospects of the railroad.

In my search for purchasing stock in the company, I ran into a few holders who said they'd rather GIVE the stock to the President than sell it at even $200 a share. I met with someone who held 5 shares and spoke graciously about selling, but beat feet right to the Vice-President with the information...I was turned down not long after. You are in for a long, hard row-to-hoe....and you will end up with an empty orange & black sack.

Furthermore, while the A&A is a private company, it has received well over $4 MILLION DOLLARS in public funds for it's life-support and pet projects. That makes the company accountable to the public, and I'm sure you can find out alot of information through public records. If the railroad goes belly up within a certain timeframe, the State will be there to reclaim a portion of what they think they own. I hate to be a negative Ned, but there's one thing about MATH...it doesn't lie. Make no mistake.....you're heartily looking for a percentage of 800, and I'm telling you you will end up with 100% of nothing.

Been there - done that. Raise chickens or something.
  by WNYP431
  by thebigham
The A&A is in no danger of going belly up.

The $4 million was used to buy new ties and rebuild 9 miles of track which carries thousands of passengers and hundreds of freights cars each year.
  by Benjamin Maggi
I think we have explored this subject about as far as it will go.