January 15, 1935, *730 Mr. Maguire resigned by reason of his health, and a Mr. Ferguson was appointed and as additional receiver, a Mr. Weinstein was added. Apparently certain common stockholders interpreted the proceeding in New Jersey as hostile to their interests and on December 29, 1934, applied for appointment of receivers in the United States District Court for the Southern District of New York. The Court there appointed Messrs. Weinstein, O'Shaughnessy and, on January 15, 1935, Mr. O'Regan, who had previously been appointed in the New Jersey Court, was added as an additional receiver in New York, and Mr. Weinstein who had originally been appointed as receiver in New York was appointed as additional receiver in New Jersey. The New York proceedings were originally instituted as aprimary receivership but on contest of the New Jersey receivers, was shortly thereafter designated as an ancillary receivership. About the same time an ancillary receivership proceeding was instituted in the Circuit Court for Allegany County, Maryland, where Messrs. Burke and Finan, the latter a prominent citizen of Cumberland, Maryland, were made receivers with Mr. Maguire, later succeeded by Mr. O'Regan. The friction between the New York and the New Jersey receivers and complications resulting from three separate current receiverships were necessarily very disadvantageous to the conduct of the business of the corporation. It was obviously desirable to concentrate the management in one Court jurisdiction. On February 23, 1935, holders of $3,000 of notes filed a proceeding under 77B in the Southern District of New York. A few days