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New York agencies are holding $4.2 billion in
over fifteen million separate accounts. Add another $2.6 billion from California
agencies (with one million new accounts last year alone), and consider that
together Florida agencies, Massachusetts agencies and Texas agencies contribute
$2 billion more ... well pretty soon it starts to add up to real money! But this
isn't just a "big state" phenomenon. It's happening everywhere! Minnesota
agencies are holding 150,000 accounts. Oklahoma's agencies list of lost owners
consumes 8,268 pages, a stack of paper 2 1/2 feet high! Even tiny Rhode Island
agencies took in $10 million and added 6,000 names to its rolls in 1995 alone!
And many of these accounts are worth big money. Last year Arizona agencies had
claims of $254,301 and $165,755. A Louisiana citizen received a check for
$1,026,738.49; but the Texas resident who recently collected $4,251,987 was
luckiest of all! A conservative estimate is $1 trillion waiting to be reclaimed
by eighty million owners. The total is growing by more than $7 million per day -
over $2.5 billion per year - thanks to recent changes in the law.
