Pain v. Parson

Prior to 1890 the Hintze & Baker Company, a corporation, was organized under the laws of the State of Illinois for the purpose of conducting a business of buying and selling sash, doors and blinds at Chicago, Illinois. About January 17, 1893, the name was changed to that of the Parson & Libbey Company. The stock of the company was $50,000, consisting of 500 shares of $100 each, 250 of which shares were owned by Robert B. Parson, 175 shares were owned by Daniel L. Libbey, and 75 shares were owned by George M. Williamson. These three owners of shares constituted the officers and board of…