When a conductor observes a burning journal (overheated axle bearing) on a car in the train during a stop, the correct action is to:

1. Pour water on the bearing to cool it, then continue the trip
2. Bad-order the car, set it out at the nearest available location, and notify the dispatcher
3. Continue to the next yard at reduced speed and report the defect upon arrival
4. Allow the bearing to cool for 30 minutes and then inspect it before continuing