FOLEY v. ALLEN

No. 12365.

170 F.2d 434 (1948)

FOLEY v. ALLEN, Collector of Internal Revenue.

United States Court of Appeals Fifth Circuit.

November 12, 1948.


Attorney(s) appearing for the Case

Louis Regenstein, Jr., of Atlanta, Ga., and William C. Turpin, Jr., John B. Harris, and Charles J. Bloch, all of Macon, Ga., for appellant.

Melva M. Graney and Lee A. Jackson, Sp. Assts. to Atty. Gen., Theron Lamar Caudle, Asst. Atty. Gen., and John P. Cowart, U. S. Atty., of Macon, Ga., for appellee.

Before HUTCHESON, McCORD and WALLER, Circuit Judges.


WALLER, Circuit Judge.

Mrs. Adele L. Foley, the generous mother of Frank, Charles, and Joseph Foley, in 1934 was the owner of 800 shares of common stock in the Coca-Cola Company of Atlanta, and undertook to give to Charles and Frank each 300 shares of that stock. Charles Foley for a long time theretofore had managed his mother's affairs to the same extent, and apparently with the same authority, as if her affairs had been his own. As a matter of convenience, and with...

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