Public ledger. [volume] (Memphis, Tenn.) 1865-1893, 1875-07-29
THE STREET RAILWAY.
Interesting Facts as 90 fits Charter
and Management, ete.-PrObable
Chaneery Suit.

and Management, etc.-PrObable
Chancery Suit.
1t being almost impossible TO obtain a
pamphlet copy Ct the street railroad
charter, our reporter had to refer to the
acts of 1865 in order to discover that
mysterious document which organized
the Memphis City Railroad Company as
a body corporate for thirty years from
June I, 1865. The original incorpora-
tors have nearly all passed out and now
the company is controlled by three men
who W a majority Of the stock and
voted themselves into the following
Offices at big salaries: F. s. Davis,
President; R. V. Vredenburg, Treasurer
and Secretary; Thos. Barrett, Superin-
tendent. Since its organization the
company has violated its charter many
a time and oft, and in support Of this
assertion we give in brief its charter:
The capital stock to be $4,000 with
privilege to make it $5OO,OO at pleasure,
divided into fifty dollar shares. Five d.
rectors to be elected annually, each
stockholder to have one vote for each
share Of stock. Empowered to make
contract with city Of Memphis to build a
street railroad, using all necessary ma
%chinery, etc., neatly constructed cars,
commodious and safe, etc. To authorize
the company to construct a railway ! N
the streets of the towns and villages Of
Chelsea and Fort Pickering, as well as
in the city of Memphis. Each stock
holder shall be individually liable to
creditors Of said company to the amount
Of unpaid stock, ETC., and all stockhold-
i ers shall be jointly liable for all debts
due and owing to- its laborers and ser
wants for services performed.
Said railroad shall be constructed on
the most approved plan, and shall be run
as often as the convenience Of passen-
gers may require, and shall be liable to
the city for the payment of such license
on each car as by ordinance may be pre-
seribed; and the company shall be au-
thorized to charge five cents for the con
veyance of passengers for the whole on
any part of said route from the termi-
nus ofsaid railroad.
Said company shall construct said
road so as not to obstruct carriage travel,
and said company shall keep the sur
face of such roads inside the rails and
two feet outside of each hereCfin good
order and repair, etc.
This charter is violated daily in oh.
structing carriage travel and not keep
ing the track inside and outside the rails
in good repair and order.
The FIVE cents provision was changed
by the act of the Legislature, authOriz
ing said company to charge ten cents
which change cost the company abou.
FIVE thousand dollars to engineer sucl
through the Legislature, and which
affair wa wound up with a big banque
given at Nashville to the members 9th,
Legislature and other friends.
The company violates its charter b.
charging a double fare unauthorized b,
the charter. For instance, you get OIL
the Main street line and wish to go GU
Beal street, you have to change car
and pay an additional ten cents for 8,
doing, and the same rule is enforced i
you come in on the Beal street line an,
wish to go to either the depots Of TIL
Louisville or Mississippi and Tennessee,
railways.
In 1866 the railroad company entered
into q contract with the city Of Memphis
the city committee being composed o
John Park, Mayor, and Aldermen A. P
Burdett, John S. Toof and s. I. Morgan
wherein the railroad company was su
thorized to run cars, etc, the rate Of tax
alton for such privilege being Fixed a
800 per annum for each car used by sal,
railroad; that all tracks laid by said com
pany shall be in accordance with thl
grades of streets as furnished by tb
city, and no change shall be made thereil
unless by the consent OF the city; tina
whenever in the Judgment of the Mayo
and Aldermen a railroad track shall b.
necessary on any street, sixty days
notice shall be given by the Mayor AM
Aldermen, and whenever said compan.
shall fail to Icy down said track at tb,
end of sixty days, the laying Of sal,
tracks shall be given to other parties.
In July, 1872, an additional contrse
was entered into between the city an,
the railroad, growing out Of law suits il
consequence Of the laying down of tn
Nicolson pavement, etc., by which tn,
contract of 1866 was modified as follows
The license on each car per annum t
be fixed at $25 in advance; said compan,
shall conform to all grades and adjus
its tracks to all change of grades Of
streets.
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