The New Orleans daily Democrat. [volume] (New Orleans, La.) 1877-1880, 1877-08-11
CHARTER.
STATE OF LOUISIANA.
CITY OF NEW ORLEANS

|
| in and for the parish Of Orleans, personally
! came and appeared the subscribers hereto,
who declared that they termed themselves into
| and constituted them elves II corporation, In
accordance with the laws OF this State. felatiys
| TO the organization Of ,corptaiions iorr, w9ks
| 81 public improve fnent. nndef the following
eharter Of incorporation to wit
be COMM EH6iAL TRANSIT COMPANY. and
the city OF New Orleans IS chosen as the place
:, d The purpose for WHICH 1T is .estabi!ishse ~
operatipa railroads within the limits u
tatlon q goods. wares, MERCHANDISE, grain. \.
| from one part Of the city to anUtherj the. 40
CURING mud holding by grants from, the state
Legislature, orthe municipal authorities, q by
grantees. ali franchises, rights. privileges and
powers. that MAJ. have been. q hereafter may
sary for that end; and the nature Of Its busi-
ness will be the effeetins Of such transportation
and Vs rresaen are aa The
| officers whom citation may be served.
81 The amount OF capital stock Is fixed at ten
| thousand dollars divided into one bundled
| shal es Of one huudred dollars each to be full
paid at the time Of subscribing. :,
T. The corporate powers Of the contrary shs al
rectors, to consist Of Ave stockhold RS. Of whom
| three shall constitute quorum. and who shall
| thelf. own number. They shall be elected by
| ballot on the second Tuesday OF Ap,il Of each
year, AT Inc uD1n1H1le OIL the company anu ehpU
stoekhoder shall be entitled to one vote for
each share of full paid stock lie may hold pro-
yided. that Q, failure from, my cause to elect
directors on the day fixed shall not dssolye the
corporation that the directors aud other officers
shall hold over till their successors are duly
elected The annual meeting Of tie stockheld-
ers shall take place ut The same lime and place
rs the election Of directors. Special meetings
Of the stock hglders shall be, held whenever
ordered by the President or called for by request
OF five stockholders, after ten days notice.
+. This CORPORATION shall have and enjoy sue.
cessiun by their corporate name for the period
Of twenty five years. and at the Termination Of
this charter. or at any time when the liquidation
Of the affairs Of the company shall have been
decided upon by q majority Of the stock
holders in number and amount 81 stock, the
said majority Of Stockholders shall elect three
Of their own number who shall be styled liqni-
dating commissioners. and whose duty it shall
be TO sell and dispose Of oil the, properly
and assets Of the company, collect all debts due
liabilities Of the company. divide the net pro-
epeds among the stockholders in proportion to !
8. The following mined persons shall eonsti-
tute the FIRST board Of directors, anu shall hold
Office until the second Tuesday, Of April, 1873. 4
VII. .ADOLPH hg1IHEIBEH + J. HlGBY. 4
first meeting elect u President ind Vice fresi- h
dent. The President shall preside ut al meet Il
ings OF the company n ana T hs s9ara q AZ
company generally under the stipervision pf Il
the board of directors and in case Of bis gb~
volve upon the Vice President. The President /
shall baye, power to name all officers or sin-
ployHs ii the association; he shall eign all cons
tracts end other papers Ihg bghrd OF dis II
reetofs shall have power to fill ell vaeaneiesl
that may occur IN their number majority OF
the board OF directors shall constitute q quo-l
ruin for the transaction Of business, and any
decision OF such majority shall constitute o
valid corporate net. III
the ca ting vote. The board Of directors shall
fix the amount Of compensation o. saiary. Of NIL
persons employed in tie services of the company
| they ore hereby efnp owed to make. frame and
adopt such bylaws rules and regulations as
they may deem requisite for the interests 81 the
company and the transaction of its bueinesss
They are authorized and empowered, in the |
name of this corporation, 70 eontraet, and he
contracted with 10 sue and be sued to hold, rcd
feive. purchase mortgages and oavey Dropertyal
real and personal. anu sll irishts, ffancalses5
powers and privlleges f9r building tnailntainine
portation Of freight through tbs sttests Of New
Orleans. whether the same be conferred " the
and whether the same be conferred on corpora
tions or individuals. ind they mrs specially au5
thotized borrow money Tor the paf ,d %
chises as may be requisite for tbs purposes OF 4
this corporation ana for the construction apol
equipment Of their rai road, and secure thell
punctuai repayment Of the sgms by hypo;heea|
| ton nnd mortgage OF any or Hl the property
tracks, railroads built, OF to be- constructed. ant
T. No stockholder shall ever be made liable Of
responsible for the contracts or faults OF this Il
III
| balances u o to the, company on ING snarsss
| owned by him nor shall any mere infoTmalitk
in organizing have the effect oil rsnderlng thl.9
| charter null or of exposing any stakeholder 81
| any liability beyord the amount OF his stock: Nl
g. The stockholders Of this company, ut sH
| general meeting to be convened for that pul8
pose, shall have full power to make any Tnod1fsgs
| cations additions, or changes in this net oil fss
Or e ,G assoye II Et s a nsss
stock represented at such meetings. Any suQl
notifications, additions, changes or dissolutiqlg
thus done and pissed at the said city OF .NeS8
Orleans. on the day and year first nbgve Writtes
IN tho presence Of Messrs ossar p aoa ana III
| icliat.d in this city, who hersunto sign uIe4E
names. together with the sssd appe ar rs. q
me. the said notary after the reniihg hersBl
| Three words iutsriined. tlkI
oi's'"''' ''S xD0LpHE scHREIBER. lIII
pr f, Pr2 Ernest L. Forstail
W vi H. OSBORN III
JAMES So ERa nc; Y, A Me-, o oo..ol
sru{y e ssS ) f1 M ~; oorao
} 4. h1s2 (: G d6hD6s. III
" o8cAR j. roEsTALL. III
$40 $50 " K. ABAT. Notary Pablif II |
I, the undersigned Recorder Of Mortgage |
and for the parish Of Qrea ms sfa Of dpf
| going is d true and correct copy of the orig ki
act Of incorporation this day duly ecorG u [
| my office according to law, In book l@ |
| 142. lYI
| New Orleans, July 10, 1877 ..x.e,1.x, /
Deputy RECORD Ii /
I do hereby certify the fore going to pc o Z |
and faithful copy Of the original act OF re e. /
and on file in my office =. on r |
this tenth day Of July, a. D. 1877. T.
| wi Al law A. ABAT. Notary Put I
|
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