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832219) was issued in the names of Sloan and David, Trustees, U-A
12-30-1938, for David's benefit.
Sloan's Exxon and Standard Oil Stock
On the date of his death, Sloan owned 110,000 shares of Exxon
and Standard Oil stock (the 110,000 shares of stock), as
represented by 198 stock certificates, having a market value of
$8,937,500. Shortly following Sloan's death, the 110,000 shares of
stock were sold for a total of $9,650,977.92. Sloan's purported
signature appeared on the back of each of the 198 stock
certificates. Several entities were used to accomplish the sale of
the 110,000 shares of stock: Bank Ehinger & CIE, AG (BECIE) of
Basel, Switzerland; Brown Brothers Harriman & Co. (BBH) of New
York; Depository Trust Co. (DTC) of New York; and Cede & Co. On
March 24, 1987, BBH received the 110,000 shares of stock from
BECIE, and on March 25, 1987, BBH deposited the 110,000 shares with
DTC. These shares were sold in accordance with instructions
received from BECIE contained in a March 19, 1987, letter. The
proceeds of the sales, $9,650,977.92, were credited to BECIE's
account at BBH.
Sloan's Morgan Guaranty Trust Co. Checking Account
On the date of his death, Sloan had a checking account at
Morgan Guaranty Trust Co. of New York (Morgan Guaranty checking
account) with a balance of $357,040.39. Shortly after Sloan's
death, two deposits were made into that checking account: (1) On
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