Show THE NICKELPLATE 8A A Vanderbilt Victory Which a Will be Appealed 4 THE BUSSOGBKiTAX TEEATY Matters In Barmali Iocans Resting Place Gas Explosion Leaving the KnihU Steamer Sunk Etc the Nickel PlatO suit CLEVELAND January 3Judges Jone and Hamilton decided the big nickel plate case this morning The suit was brought against the New York Chicago St Louis Railroad Company by the Union Trust Company of New York trustees of the second mortgage bondholders bond-holders 10000000 The court held that the first mortgage held by the Central Trust Company as trustees was illegal and that the bondholders under that mortgage are general credi tors to the amount of 15000 000 The court also ordered the sale of the road under the second mortgage The validity of car trust certificates amounting to 1000000 was affirmed and the separate sale of the equipment Under these certifi cates it was claimed that the consolidation consoli-dation of five state corporations into the Nickel Plate was illegal The court declared that the consolidation was illegal in two respects but as the corporation corpo-ration was de facto and had the legal right to execute mortgages it was held that neither the Lake Shore Michigan Southern Railway nor judgmen t creditors f cre-ditors of the Nickel Plate have liens bv virtue of their judgments and their only interest as creditors to the extent of their judgments The decision is a Vanderbilt victory and will be appealed ap-pealed |