Slade v. Slade

Mr. Presiding Justice Burke

delivered the opinion of the court.

The entire capital stock of 1,000 shares of Slade, Hipp & Meloy, Inc., an Illinois corporation, with its principal place of business in Chicago, was owned by Samuel Slade and Dana Slade, Jr., his brother, and by their wives, Alma L. Slade and Ida Slade, respectively. Samuel Slade and Alma Slade owned 499 shares and Dana Slade, Jr. and Ida Slade owned 499 shares. The remaining two shares were, as a matter of form, shown in the name of Frank J. Dinges. He never had physical possession of these two shares, which were actually owned by…