Show DENIED THE APPLICATION J Pierpont Morgan Wins His Union Pacific Suit New York Jan 17 Judge Lacombe in the United States circuit court denied I I de-nied th eapplicauon made in behalf of I I Josiah n French and others for relief i and leave to intervene in a suit brought l IJ bth i i by J Pierpont Morgan and others against the Union Pacific Railway company com-pany and its receivers I French rtnd his associates are creditors cred-itors of the Union Pacific Railway company I com-pany by reason of their ownership of certain bonds of the Leavenworth Topeka To-peka Southwestern Railroad company I com-pany payment on which was guaran j garan teed by the Union Pacific company i I Default was made by the Leavenworth I Topeka < fe Southwestern Railroad company II I com-pany on Jan 1 1S94 Prior to this I date the Union Pacifis company had I II passed into the hands of receivers Payment Pay-ment under thp guarantee was demanded I demand-ed and rEfused The suit by J Pierpont Morgan Coand others against the Union Pacific Pa-cific and its receivers was to foreclose I I a socalled collateral trust agreement dated August 1S91 by which the Union Pacific company borrowed from certain individuals and corporations a considerable consid-erable sum of money for which i pledged certain stocks and bonds as security se-curity The decree already entered directs di-rects the sale of the collatral securi ists tis tisJudge Judge Lacombe holds that J P Morgan Mor-gan and the other trustees have a right to bid at the sale of the securities of the Union Pacific as representatives of creditors who advanced Jt on the I securities and that the trustees may I I also participate with the special master I mas-ter in conducting the sale He also I I says that the lots of securities first I offered should not exceed 5100000 In I I par value of bonds and that after bids have been obtained for separate lote in each class all the stock or ponds of that class should be offered for sale as a whole and I the bids therefore exceed the aggregate bids for the separate sep-arate lots I should be accepted The further directions which include a 7 days notice of the sale Judge Lacombe says may be embodied as a supplemental supple-mental order I |