The New Orleans daily Democrat. [volume] (New Orleans, La.) 1877-1880, 1877-08-08
CHARTER.
STATE OF LOUISIANA.
CITY OF NEW ORLEANS

] REIT kNO|N, IHAION THIS TENTH DAY
notary public. dnly commissioned and sworn.
in and for the parish OF Orleans, personally
who declared that they formed themselves into
and constituted themselves a corporation In
accordance with the laws Of this State. relative
| to the organ zation OF corporations for works
| Of public improvement. under the following
| charter of incorporation to wit
be COMM ERCIAL TRANSIT COMPANY and
The. city of New Orleansis chosen as the place
2. The purpose for which it is established is
the building, constructing, maintaining and
operating railroads within the limits Of the
city OF new Orleans for tac transport
tation of goods wares, merchandise, grain cot
| ton and all other articles offreight or commerce.
from one part Ct the city to another; the ac-.
| Legislature. or tbe municipal authorities, or by
purchase has IL lease contract or otherwise from
I powers, that May have beer; or hereafter may
h be conferred, that may be desirable or neces-
ness wiIlbe the effscting Of such transperation
| by steam lower CT otherwise; and the Pres-
dent and Vice President are designated, rs the
| officers ON whom citation may be served.
! 3. The amount of capital stock is fixed at ten
thousand dollars, divided in5o one hundred
paid at the time of sabscrb ng.
~ The corporate powers OF the company Shall
be vested in, and eyerei e. by a board of di-
1ectors, to consist Of Eve y pckhCbd RS, of whom
three shall constitute quorum, and who shall
designate president and vice president out OF
ba i own "n the srennn mesday Of Appi Of aaeR
year. at the domtcect the company, and each
stakeholder shail be entitled to one vote for
each share of full paid. stock he may hold; pro-
yided, that u failure from any cause to elect
directors on the day fixed shall not dissolve the
corporation that thedirectorS and other officers
shall hold over till their successors are duly
elected. The annual meeting of the stockhold-
ers shall take place at lac same time and place
of the stockholders shall be held whenever
ordeledby the Presi. ent orealled for by request
4, n
| 5. This corporation shall have and enjoy sue
eessivn by their corpoE.ea name for the period
q twenty-five yearz e at the ter Of
| of the Affairs OF the conspany shall have been
decided upon by majority Of tlre stock
said majority of stockholders shall electthr"e
Of their own number who shall be styled liqui-
dating commissioners, and whose duty it shall
he to sell and, dispose Of all the property
and assets of the com Dany, collect all debts due
to the same and, after payment OF the debts and
| liabilities Of the company. divide the net pro-
ceeds amoag the stockholders in proportion to
their respective shares.
6. The following named persons shall eonsti-
office until the second Tuesday, of April 1873
y JAN ap & cLARk Sf'a T. coSRAD witEiah
ALEXANDER GORDON. They shall i at their
dent. The President shall preside at all meet
ings of the, company and Of the board Of d.
rectors. aud shall conduct TIE business OF the
the board Of directors; and in case OF his abb
sence, or inability to serve. his duties shall de.
volve upon the Vice President. The President
shall have, lower to name all officers or em-
ployes Of the association, he shall sign all con-
tracts and other paoers Tn 1, board D1 Of d.
that may occur ia their number. majority OF
the board OF directors shall constitute 6, quo
rum for the transaction of business. and any
decision OF such majority shall constitute
valid corporate act.
In case of a tie vote the President shall have
tbp "a fiji board directors
fix the amount of compensation, or salary, OF all
persons employed in the service OF the company;
They are hereby empowed to make, frame and
adopt such bylaws, rules and regulations as
they may deem requisite for the interests OF the
company and the transaction OF its business
They are authorized and empowered, in the
name Of this corporation. to contract and By
contracted with to sue and pc sued. 10 hoid, Re
| real and personal, and sil rights, franchises
powers and privileges for building, maintainft
portation of freight through the streets of Ne
Orleans, whether the same be conferred by TIL
State Of Louisiana OF the city OF New Orleans
lions or Individuals and they are specially au-
thol ized 10 borrow money for the, purchase OF
chises as may be requisite for the purposes q
this corporation and for the construction aqe
punctua! repayment Of the same by hypothecal
ton and mortgage of any or all the property
tracks, railroads built. or to be constructed, ant
I. No stockholder shall ever be made liable o
responsible for the contracts or faults OF thi
association in any further sum than the unpaid
| balances due to the company on the shares
owned by him nor shall any mere informality
| i'm organizing have the effect of rendering this
charter null or of exposing any st9ckholder to
g. The stockholders of this company at
| general meeting to be convened, for that pur-
pose shall have full power to make any modif-
cations, additions. or changes in this act OF in
corporation or to dissolve it with the assent OF
three fourths of the stockholders in amount Of
| stock represented at such meetings, ANY such
notifications, additions changes or dissolution
| shall be recorded as required by law.
| Thus done and passed at the said city OF New
| Orleans on the day and year first above written,
in the presence Of N, ssrs Oscar j. Forstsll and
| ciiatt d in this city, who bereunto sign their
names. together with the said appearers and
| me- the said notary, after the reading hereof.
| Three words interIined.
| Original signed: e,e.,rr,,
Per pro. Ernest l.. Forstall.
J.. j. HIGBY,
WILLIAM H. OSBORN,
Per pro. w. Alex. Gordon.
I - JAMES EN0TT.
Per pro. W. Alex. Gordon.