where the transferor takes and retains possession of the new certificate and does not in any manner make a delivery thereof to the transferee.
The Bush case differs from the case at bar in that the stockholder there turned in his certificate of stock and had a new one issued and recorded on the corporate books in the name of another as transferee but when this was done he had the new certificate delivered into his own hands and retained possession of it until the death of the recorded transferee.
In the instant case, as stated by the trial court in its memorandum:
"Here the problem is somewhat different because Earl Brennan did not, after December 28, 1956, keep physical possession of the stock. It is noted, however, that he didthem or he could have instructed Mr. Bennitt to hold them for Mrs. Carroll. But he did neither, and even absent other facts in the case which indicate a contrary intent on his part, it does not seem that there was such a delivery of the stock as the law contemplates."
It might be argued, however, that when Earl came to the Carroll home a few days after Christmas in 1956 and told Evelyn, according to Lynn Carroll's testimony, he had transferred the stocks to her and wanted her to have them, that was sufficient to complete the gift. It is observed, however, that this conversation did not supply the necessary legal requirements under the record here to constitute a gift of the stocks from Earl.
In fact, Mr. Carroll,