¶1Samuel M. Hazlett, of 'Pittsburgh, Pa., Emanuel Harris, of New York City, and
¶2*687Ilazlett, Gannon & Walter, of Pittsburgh, Pa., for appellants.
¶3W. Denning Stewart, Thorp, Bostwiek, Stewart & Reed, and Reed, Smith, Shaw & MeClay, all of Pittsburgh, Pa., for appellees.
¶4Before BUFFINGTON, WOOLLEY, and THOMPSON, Circuit Judges.
¶6After argument and due consideration, we find the appellants, who are holders of debentures of the Pressed Steel Car Company, have no lien which is displaced by the issue of the complained of receivership certificates. We therefore hold the court had power to authorize the issuance of such certificates and that the order made was within its discretionary power.
¶7The decree is therefore affirmed.