Show STEEL TRUST IS ENJOINED New Jersey Judge Gives Ruling Against Retirement Retirement Retirement Retire Retire- ment of Stock NEWARK NE N. N J. J June 15 Vice Vice Vice- Chancellor or Emery today gave an oral opinion making a temporary injunction secured a week ago by Miriam l Berger of Sullivan county N. N Y permanent The injunction restrains the United States Steel corporation from retiring of preferred stock and issuIng issuing issuing ing in bonds instead R. R V V. Lindabury counsel for the United States Steel corporation gave of appeal It was agreed by counsel for tor both sides that the form of order for the ap appeal appeal ap- ap p- p peal would be submitted to the court late this afternoon In his opinion the vice-chancellor vice held that the retirement of the preferred preferred preferred pre pre- stock constituted a preferential reduction of of the corporations corporation's capital among those assenting to the plan and anda a corresponding impairing of th those se not assenting According to the vice chan decision preferred stockholders have ves vested ted property rights which cannot cannot cannot can can- I not be im impaired alred by a board of directors without the consent of the holders of preferred shares |