Haugan v. Chester

On July 5, 1902, Mary E. Merrill gave to her son Frederick Freeman Merrill 100 shares of stock in the State Bank of Chicago, the following being her letter of transmittal:

“Frederick Freeman Merrill,

“Milwaukee, Wisconsin.

“My Dear Son: I ask you hereby to accept as a token of my appreciation of your constant and unfailing devotion to my comfort and attention during the years since your father’s death, a gift of stock held by me at this date in the State Bank of Chicago, Chicago, Illinois, under the sole and only condition that unless otherwise directed by me I shall receive the interest thereon…