Business

Dear John: Lou Gehrig signed the ball twice

Dear John: I have a 1933 Yankees team baseball with Babe Ruth, Lou Gehrig and three other Hall of Famers’ signatures. The ball has been authenticated by J[ames] Spence.

The oddity of the ball is that Lou Gehrig signed it twice. I am having trouble finding the right place to try to sell it. Do you have any ideas for the best place to shop the ball? Any information would be appreciated. T.C.

Dear T.C.: There are too many variables to give you an exact value.

But Philip Weiss of Weiss Auctions on Long Island says the ball could be worth anywhere from a couple of grand to $10,000, depending on the ball’s condition. Back in the 1920s and ’30s, people used to cover autographed balls in shellac to preserve them. That wasn’t a good idea. It ruined the quality of the signature, although that doesn’t destroy the value altogether.

Also, a lot will depend on where Ruth signed. He was the star, and the star would typically sign on the ball’s “sweet spot,” which is defined as the big area in front between the stitching.

The fact that Gehrig signed twice is a nice touch, says Weiss.

You’ve already handled Problem No. 1, authenticity. Spence is one of the handful of authenticators that are trusted.

To summarize, Weiss said this was “pretty cool” when I described it to him.

You can send him a note at Weiss Auctions. Good luck.

Dear John: What happens when a broker makes a mistake and claims you canceled a purchase order after you already received a confirmation that you bought and own shares of something? Also, how quickly is a broker required to provide a cancellation order?

I bought Plains All American Pipeline, a master limited partnership, through my retirement account from Salomon Smith Barney (now Morgan Stanley Smith Barney) back in 2001. I received a confirmation of the purchase and was told that the order had cleared and that I owned the shares.

Now Morgan Stanley is saying that I canceled the order to buy the shares the same day I purchased them, despite the fact that I never did so and have been receiving statements from the company showing annual dividends for over 10 years in excess of $50,000.

My personal broker also confirmed that for the 16 years I have been using him, I have never canceled a buy order. When my lawyers inquired, Morgan Stanley produced a cancellation notice that is dated 12 days after the date I had already purchased the shares.

I also have a brokerage statement showing dividends that I was entitled to. Fast forward to today: The stock has appreciated by over $100,000, and Plains All American says I still own the shares. Morgan Stanley is saying that I don’t and so am entitled to none of the appreciation or dividends. How can this be legal? B.M.

Dear B.M.: OK, so someone is wrong here. Or someone, probably long gone from the firm, doctored the statements.

As you know, I asked Morgan Stanley to look into this matter, and they said you were refusing to provide documentation. Soon afterward, your attorney said he sent the documents again. Morgan Stanley is standing firm.

That’s why the two of you are heading for arbitration.

Good luck. Let me know how it comes out.

Send your questions to Dear John, The NY Post, 1211 Ave. of the Americas, NY, NY 10036, or john.crudele@nypost.com.