On his wife’s birthday, Leopold Cohn wrote, in the presence of his entire family, the following: West End, N.J., Sept. 20, 1911 I give this day to my wife, Sara K. Cohn, as a present for her (46) forty-sixth birthday (500) five hundred shares of American Sumatra Tobacco Company common stock. Leopold Cohn

That writing was immediately delivered to his wife. Six days later, Leopold died. At that time, Leopold owned 7,213 shares but the stock was in the name of and in the possession of his firm, A Cohn & Co., in which he was a partner. Is this a valid gift? (Matter of Cohn, 176 N.Y.S. 225)