October 31, 1944.
Appeal from the District Court of the United States for the Southern District of California; Peirson M. Hall, Judge.
Arthur C. Fisher, of Los Angeles, Cal., for appellant.
Roger S. Foster, Sol., Milton V. Freeman, Asst. Sol., and Alfred Hill, Atty., Securities and Exchange Commission, all of Philadelphia, Pa., and G.M. Cuthbertson, Atty., S.E.C., of Los Angeles, Cal., for appellee.
Before WILBUR, DENMAN, and STEPHENS, Circuit Judges.