STRUM, Circuit Judge.
The basic question presented by this appeal is whether or not the district court erred in dismissing the complaint for lack of federal jurisdiction. This in turn involves two constituent questions: (1) Do the transactions described in the complaint constitute "investment contracts" as contemplated by section 2(1) of the Securities Act of 1933, 15 U.S.C.A. § 77b(1); and (2) Does the use of the mails in consummating these transactions entitle...
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