¶1Harry Felix, Felix & Felix and Walter G. Dugger, all of Philadelphia, Pa., for appellant.
¶2Henry Arronson and Harry A. Rutenberg, both of Philadelphia, Pa., for trustee.
¶3Chester T. Lane, Gen. Counsel, Securities and Exchange Commission, Edmund Burke, Jr., and J. Anthony Panuch, all of Washington, D. C. (Morton Liftin, of Washington, D. C., of counsel), for Securities and Exchange Commission.
¶4Oscar Brown, of Philadelphia, Pa., for Preferred Stockholders’ Committee.
¶5Before BIGGS, JONES, and GOODRICH, Circuit Judges.
¶7The order of the District Court of March 7, 1940, is affirmed.