Foley v. Allen

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 his mother’s consent, he procured many of her securities to be issued in his name, including 400 shares of the stock in…