The weekly clarion. [volume] (Jackson, Miss.) 1863-1882, 1876-02-09
Two Dollars a Year.

other materials, and for the making OF all
kinds of machinery and implements of hus-
bandry necessary for the cultivation of the
soil, and To manufacture all other articles or
things OF whatsoever character or descrip-
ton. not inconsistent with the laws and
constitution of this State, or Of the United
States. and of the great benefit which the
State will receive in the development of its
manufacturing resources. by means OF said
factories. aud the large and increased
amounts of machinery aud capital that WILL
by this liberal-spirited policy, be Invited
to the State. thus giving employment to-
aud supplying the wants of thousands of
our people, aud, also. the increased value,
which will thereby be added TO the prop
erty OF the State, thus enabling the State to
greatly increase its revenue without addi-
tional and burdensome taxation on the peo-
pie, the State hereby agrees with any and
all manufacturing companies In this State,
whose capital stock shall be not less than
ten thousand dollars paid in, not in opera
ton before the passage OF this Act. that
all taxes to which said company or compa-
MES shall be subject for the period of ten
years, are hereby appropriated and set apart,
and shall be applied to the payment of the
debts and liabilities which any OF said
companies may have incurred in the con-
struction of factories, or the purchase of
machinery, or for money borrowed by any
manufacturing company TO construct build
ings or to Purchase machinery, or paving
constructing or purchasing the same; and
it shall be the duty of the Tax Collectors in
every county, in each and every year, for
the period of ten years, to give to each of
said com panies Il receipt in full for the
amount of all taxes due, upon receiving
from each of said companies and affidavit
made by the President or Treasurer of each
of said companies, that the amount of said
taxes have actually, and in good faith, been
paid and applied by each of said companies
during the year, in payment. of debts In
CURED, or money borrowed, as aforesaid,
and which receipt, so given, shall be In full
to which said companies shall be subject
PrOU;ded, That whenever the profits of any
of said companies shall enable it to declare
and pay to its stockholders an annual divi-
dend of four per cent. upon its capital stock
over and above the payment of its debts and
liabilities, then the appropriation of the
taxes aforesaid shall cease towards such
company or companies declaring said diVi-
dends, and said taxes shall be paid by said
companies declaring such dividends to the
Tax Collector, to be by him paid over us re-
CURED by law; Provided, further, That moth
ing in this Act contained shall be SO con-
strued as to exempt the property of any
manufacturing or mechanical com pany
from any tax levied by any county, city or
town, to meet the principal or interest on
bonds issued by any such county, city or
town, To aid in the construction of rail
roads and taxes thus levied and collected
shall be applied to the payment of such
bonds and interest thereon.
SEC 2. Be 10 further enacted, That this
Act shall take effect and be in force from
and alter its passage
APPROVED, April l, 1872.