Hennessey v. Nelen

William Kavanagh, a successful furniture dealer in Springfield, caused his business to be incorporated under the name of Wm. Kavanagh Furniture Co. on or about August 1, 1928, and died May 7, 1930. By his will he gave to the company fifty-four shares of its stock; to various parties to this case, employees of the company, amounts aggregating nine hundred twenty-six *570shares; and then gave his remaining one thousand one shares out of a total capitalization of two thousand shares to Union Trust Company of Springfield as trustee to hold for ten years, and at the end of that time to distribute the…