The New Orleans daily Democrat. [volume] (New Orleans, La.) 1877-1880, 1877-08-03
CHARTER.
STATE OF LOUISIANA,
CITY OF NEW ORLEANS

ID of July, 1877, befo1S me, Antoine Abat, a
notary. public, duly commissioned and sworn.
came and appeared the subscribers hereto,
who declared that they formed themselves into
and GonttsS hs sse a
| to the organization OF corporations for works
Of public; Improvement, under the following
1. The name and title of the corporation shall
| be COMMERCIAL TRANSIT COMPANY" and
the. city OF New Orleans is chosen as the place
2. The purpose for which it is established is
| the building, constructing maintaining and
city OF New Orleans, for the transpor-
| tation of goods. wares merchandise, grain, cot
| ton and all other articles ofireight or commerce
curing and holding, by grants from the State
Legislature, or the municipal authorities, or by
ali rights pess nnd
powers, that may have been, or hereafter may
be conferred, that may be desirable or. neces-
ness will be the efrecting of such transportation
by steam mower or otherwise: and the Presi-
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, into one hundred
shares of one hundred dollars each. to be full
paid at the time of subscribing. :.
4. The corporate powers of the company shall
be vested in, and exercised by. q board OF di-
rectors, to consist of five stockhod RS, of whom
| three shall constitute a quorum. and who shall
designate president and vice president out of
their humber They shall Il BE- ELECTED t ob by
year. at the domicile OF the company. and each
stakeholder shall be entitled to one vote for
each share of full paid stock he may hold: pro-
yided. that a failure from any cause to elect
directors on the day fixed shall not dissolve the
corporation that the directors and other officers
shall hold over till their successors are duly
elected. The annual meeting of the stockhold-
ers shall take place ut the same time ana place
Of the stockholders shall be held whenever
ordered by the President or called for by request
Of five stockholders. after ten days notice.
6. This corporation shall have and enjoy sue
cession by their corporate name for the period
Of twenty five years, and at the termination OF
this charter, or ut any time when the liquidation
of the affairs of the company shall have been
decided upon by majority OF the stock
| holders in number and amount Of stock, the
of their own number, who shall be styled liqui.
dating commissioners, and whose duty it shall
to sell and md dspose Of 6 a the
to the same. and, after payment Of the debts and
liabilities of the company. divide the net pro-
ceedS among the stockholders in proportion to
their respective shares.
6. The following named persons shall consti.,
tute the first board OF directors and shall hold
VIII vii: u Rpo ilfii sCHREiBER l. HIGBY
4Mk Ghae ak6oE Thes sRa At hsr
first meeting elect President and Vice Presi-
dent. The President shall preside, at all meet
rectors. and shall conduct the business of the
company generally under the supervision of
the board of directors: and in case OF his ab-
sence. or inability to serve his duties shall de-
volve upon the Vice President. The President
shall have, power to name all officers or en-
poyes Of the assoelaon he shall sign sign all m
rectors shall have, power to fill all vacancies
that may occur in their number. majority Of
the board of directors shall constitute quo
rum for the transaction of business and any
decision of such majority shall constitute
valid corporate act. .
Tx,a ,f flo vote a President ghnlI have
the ting vote. The board of directors shall
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
They are authorized and empowered in the
name of this corporation. to contract and be
contracted with, to sue and be sued to hold, re-
real and personal, and all rights, franchises,
powers and privileges for building, maintaining
portation of freight through the streets Of New
Orleans whether the same be conferred by the
State Of Louisiana or the city OF new orleans
tions or individuals, and they are specially au.
thorized TO borrow money for the purchase OF
such real estate. personal property and fran
this corporation and for the construction and
equipment Of their raj road, and secure the
punctual repay ment of the same by hypotheca-
ton and mortgage OF any or all the property,
tracks, railroads built, or to be constructed and
franchises.
Z. No stakeholder shall ever be made liable or
responsible for the contracts or faults of this
association in any further sum than the unpaid
balances due to the company on the shares
owned by him: nor shall any mere informality
in organizing have the effect OF rendering this
charter null or OF exposing any stockholder to
8. The stockholders of this company, at
general meeting to be convened for that pur-
pose shall have full power to make :. any m9din
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 Messrs. Oscar j. Forstal and
Alcee Fortier, witnesses OF lawful age and dom
a dge h WITH he 5aG ssn an
me. the said notary, after the reading nereoi'
Three words inter1ned.
| " IS ''''' ~ ADoLPHE Sc REIBER. ,
Per GPPr PRE- ? stL' Forstall.
Il 1. HlSB' oRN,
Per- lex. Gordon.
sru1 E r ', fi h!fE' Gordon
CT. CoNRAD, -l-oN' >''''
VINES y. AEE2 {: G G6hp6E,
" 2 2E5EE + fJ S2HfHArt: g..
A. ABAT, Notary Public.i
I, the undersigned Recorder Of Mortgages in
| and for the parish of Orleans, State of Loulsl-
| ana do hereby certify that the within and Tore
| going is a true and correct copy OF the orlginal
act Of incorporation this day duly recorded IN
my Office according to law, in book 49, 1oiio
| 142.
| -''" 0ii''--E' >''' j. G. RICHARDSON,
| Deputy Recorder
| I do hereby certify the foregoing to be true
and faithful copy of the original act OF record
| and on file in my office. o-,ou
| Witness my hand and SEAL at New orleans
this tenth day of July, A. D. 1877, ,,.,,,.
| iy11 4t law A. ABAT. Notary Public.
JAMES L1NeAN'
| ATTORNEY AND COUNSELLOR AT LAW;
| mys 122 Grayier street.