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Man Finds Treasure In Old Filing Cabinet

Thousands In Stocks, Bonds Discovered

POSTED: 7:36 am EST January 3, 2008
UPDATED: 7:51 am EST January 3, 2008

File this one under "honesty."

A South Lawrence, Mass., man really did find treasure in another man's trash, but he's making an effort to find the rightful owners.

Fred Pietrowski picked up a file cabinet sometime last summer at a yard sale, but just a few weeks ago he discovered a packet of old documents wedged behind the top drawer.

"I look at it, $50,000. Another one, $15,000. Another one, 500 shares, AT&T. Another one, 500 shares, James River," Pietrowski said.

Inside were hundreds of thousands of dollars worth of stock and bond certificates.

Pietrowski is now on a search for the people who lost or misplaced the certificates.

"I'm hitting a wall because, whether they were used as collateral in a loan, if the loans are paid up, they belong to the people, when I find out who they are. If the loans are not paid up, then they belong to the bank. The bank no longer exists," he said.

The bank was the Safety Fund National Bank of Fitchburg, Mass. As for the names, privacy laws have made it nearly impossible for him to trace the people and the personal information he's found is roughly 20 years old. At least one of the bond owners has since died.

Now, Pietrowski is hoping the state can help him solve mystery. He's never even considered signing the certificates over to himself.

"I've got e-mails from people congratulating me saying, 'I didn't realize there were still people like you in the world. So, it made me feel good," Pietrowski said.

Pietrowski said he's keeping the documents under lock and key at a local bank.

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