As reported to the FAA. Reports are unverified, and codes are left as the FAA publishes them.
What was found
ENROUTE, LEVELING OFF AT 14000 FT, BAGGAGE SMOKE LIGHT AND MASTER WARNING LIGHT CAME ON. BOTH PILOTS NOTED THE LIGHT AND PROMPTLY DECLARED AN EMERGENCY AND DECENDED TO 5000 FT. AT THAT TIME THE PILOT FLYING INITIATED AN EMERGENCY DESCENT AND PROCEEDED WITH THE EMERGENCY CHECKLIST.