-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
 MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen
 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 BCfyujN8Cb73EGQPV/QWQhTIA6JxETPzmSBV6M6u1WEJX1JKTzgxkIPQUYfUZP+1
 IXYWMBQ0aAn0Dh6RpiYFdQ==

<SEC-DOCUMENT>0000921895-08-001493.txt : 20080520
<SEC-HEADER>0000921895-08-001493.hdr.sgml : 20080520
<ACCEPTANCE-DATETIME>20080520184138
ACCESSION NUMBER:		0000921895-08-001493
CONFORMED SUBMISSION TYPE:	3/A
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20080415
FILED AS OF DATE:		20080520
DATE AS OF CHANGE:		20080520

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			STEAK & SHAKE CO
		CENTRAL INDEX KEY:			0000093859
		STANDARD INDUSTRIAL CLASSIFICATION:	RETAIL-EATING PLACES [5812]
		IRS NUMBER:				370684070
		STATE OF INCORPORATION:			IN
		FISCAL YEAR END:			0924

	BUSINESS ADDRESS:	
		STREET 1:		36 S PENNSYLVANIA ST
		STREET 2:		CENTURY BLDG - 500
		CITY:			INDIANAPOLIS
		STATE:			IN
		ZIP:			46236
		BUSINESS PHONE:		3176334100

	MAIL ADDRESS:	
		STREET 1:		36 S PENNSYLVANIA ST
		STREET 2:		CENTURY BLDG - 500
		CITY:			INDIANAPOLIS
		STATE:			IN
		ZIP:			46204

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	CONSOLIDATED PRODUCTS INC /IN/
		DATE OF NAME CHANGE:	19920703

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	STEAK N SHAKE INC
		DATE OF NAME CHANGE:	19840529

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Arnett Charles E.
		CENTRAL INDEX KEY:			0001432598

	FILING VALUES:
		FORM TYPE:		3/A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-08445
		FILM NUMBER:		08850148

	BUSINESS ADDRESS:	
		BUSINESS PHONE:		(210) 344-3400

	MAIL ADDRESS:	
		STREET 1:		C/O THE LION FUND, L.P.
		STREET 2:		9311 SAN PEDRO AVENUE, SUITE 1440
		CITY:			SAN ANTONIO
		STATE:			TX
		ZIP:			78216

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Arnett Virginia
		CENTRAL INDEX KEY:			0001432737

	FILING VALUES:
		FORM TYPE:		3/A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-08445
		FILM NUMBER:		08850149

	BUSINESS ADDRESS:	
		BUSINESS PHONE:		(210) 344-3400

	MAIL ADDRESS:	
		STREET 1:		C/O THE LION FUND, L.P.
		STREET 2:		9311 SAN PEDRO AVENUE, SUITE 1440
		CITY:			SAN ANTONIO
		STATE:			TX
		ZIP:			78216
</SEC-HEADER>
<DOCUMENT>
<TYPE>3/A
<SEQUENCE>1
<FILENAME>arn30.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0202</schemaVersion>

    <documentType>3/A</documentType>

    <periodOfReport>2008-04-15</periodOfReport>

    <dateOfOriginalSubmission>2008-04-21</dateOfOriginalSubmission>

    <noSecuritiesOwned>0</noSecuritiesOwned>

    <issuer>
        <issuerCik>0000093859</issuerCik>
        <issuerName>STEAK &amp; SHAKE CO</issuerName>
        <issuerTradingSymbol>SNS</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001432598</rptOwnerCik>
            <rptOwnerName>Arnett Charles E.</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O THE LION FUND, L.P.</rptOwnerStreet1>
            <rptOwnerStreet2>9311 SAN PEDRO AVENUE, SUITE 1440</rptOwnerStreet2>
            <rptOwnerCity>SAN ANTONIO</rptOwnerCity>
            <rptOwnerState>TX</rptOwnerState>
            <rptOwnerZipCode>78216</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001432737</rptOwnerCik>
            <rptOwnerName>Arnett Virginia</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O THE LION FUND, L.P.</rptOwnerStreet1>
            <rptOwnerStreet2>9311 SAN PEDRO AVENUE, SUITE 1440</rptOwnerStreet2>
            <rptOwnerCity>SAN ANTONIO</rptOwnerCity>
            <rptOwnerState>TX</rptOwnerState>
            <rptOwnerZipCode>78216</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Common Stock, par value $.50</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>81963</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                    <footnoteId id="F1"/>
                    <footnoteId id="F2"/>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value></value>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
    </nonDerivativeTable>

    <footnotes>
        <footnote id="F1">Held by the Reporting Persons through the Charles E. Arnett Revocable Living Trust, of which the Reporting Persons are co-trustees.</footnote>
        <footnote id="F2">The Reporting Persons are members of a Section 13(d) group with respect to the securities of the Issuer that beneficially owns in excess of 10% of the Issuer's outstanding shares of Common Stock.  The Reporting Persons disclaim beneficial ownership of the securities beneficially owned by the other members of the group except to the extent of their pecuniary interest therein.</footnote>
    </footnotes>

    <remarks></remarks>

    <ownerSignature>
        <signatureName>By: /s/ Sardar Biglari, as Attorney in Fact for Charles E. Arnett</signatureName>
        <signatureDate>2008-05-20</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>By: /s/ Sardar Biglari, as Attorney in Fact for Virginia Arnett</signatureName>
        <signatureDate>2008-05-20</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----