opinion: In the Matter of ST. CHARLES HOTEL Co., Debtor, Edward S. Ladin, appellant.
  No. 8937.
  Circuit Court of Appeals, Third Circuit.
  Argued June 9, 1945.
  Decided June 13, 1945.
  David M. Palley, of New York City (Annetta Brof-Quinn, of Jersey City, N. J., on the brief), for appellant.
  George Zolotar, of New York City (Roger S. Foster, Sol., of Philadelphia, Pa., and Richard V. Bandler, of New York City, on the brief), for Securities and Exchange Commission.
  Charles Gottlieb, of New York City (Thomas H. Munyan, of Atlantic City, N. J., on the brief), for appellees.
  I. Emanuel Sauder, of Philadelphia, Pa., for amici curiae.
  Before MARTIN and McLAUGHLIN, Circuit Judges, and KALODNER, District Judge.
  PER CURIAM.
  The orders of the District Court, the first of which was entered on March 26, 1945 and the remaining two on April 30, 1945, are affirmed for the reasons set forth in the excellent opinion of Judge Forman, 60 F.Supp. 322.