Tensas gazette. [volume] (St. Joseph, La.) 1886-current, 1910-09-30
ACT No. 279.
Senate Bill No. 1877.

held in Novebmer, 1910, an amendment TO the
constitution exempting from taxatl9n Tor
fifteen years from the date OF fuil cash
payment of their capital stock domestic
steamship companies engaged in foreign
commerce, and fixing the conditions OF such
exemption.
Whereas, the City of New Orleans is the
natural gateway of the Mississippi Valley
through which should pass the commerce
of that greatest and most virile section
Of this republic; and
Whereas, the completion of the Panama
Canal will give an enormous stimulus 10
trade and commerce between the Missis-
sippi Valley and Orient and the west coast
of South America and of our own country !;
and
Whereas the people of the Mississippi
Valley and of the whole South must be
prepared to take immediate advantage of
this new channel of trade, lest the vast
field which it opens be taken possession OF
by the maritime rivals OF this country |;
Whereas great steamship companies
domiciled in New Orleans are the only
and the absolutely necessary means
Mississippi Valley and the countries Dor
dering ON the Pacific Ocean may be pro-
NOTED and conserved for our own country ;
self to promote a great worlds exposition
at New Orleans to celebrate the completion
of the Panama Canal, and il is the State 5
duty 20 encourage and promote the organ
=
in aid and in furtherance of this project:
Section l.. Be il enacted by the General
Assembly of the State of Louisiana, two
thirds of all the members elected to each
branch thereof concurring. that at the cong
ressional election TO be held in this State on
Tuesday, November 8, 1910, the following
amendment; to the Constitution shall be sub
mitted to the electors of the Stao. to-wit:
steamship companies organized as here.
matter set forth. together with their capital
stock and all their property. corporal and
and licenses. State, Parish. Levee and NUM-.
cipal, both general and special, exclusive OF
wharfage. shed or levee dues. for fifteen
years from the date of filing with the Secre.
capital stock has been paid in full in cash.
No such steamship company shall have the
benefit of this constitutional provision except
First~That such company shall have been
organized and the whole of its authorized
capital stock paid in cash within two years
from January 1. 1911. .,.
ciled in the City of New Orleans. or in some
other port Of this State.
Third-That such company shall have .
capital stock of at least three million dollars.
Fourth-That it shall be provided in the
charter Of the company that no corporation,
or firm, or individual shall own or control
either directly indirectly, more than one
twentieth of the capital stock of the com.
pany; and that all pooling agreements and
voting trusts between the stockholders to
control the corporation shall be absolutely
null and void and no stock held in any such
pool or voting trust shall ever be voted at
any corporate election or meeting.
Fifth-That the capital stock of each COM
pany shall be open to public subscription
by public advertisement in New Orleans
newspapers for at least three months before
the books are closed, and il ver-subscribed
shall be -apportioned among the subscribers.
sixth-That all vessels operated by said
company shall be common carriers on every
voyage unless the whole capacity of the ship
shall be chartered for particular voyage
for a particular purpose.
1t shall be lawful for companies so organi.
zed in addition to the powers now provided
by the laws of the State to incorporate into
their charters all or any OF the following
powers:
Ffrst-To build, charter or purchase yes
sells.
chandise carried in their own bottoms against
hre and perils Of the sea.
Third-To build. own. rent and operate
shipyards. docks. piers, wharves and ware
Fourth-To trade with foreign countries,
including the foreign possessions of the
United States, by exporting cargo carried
thereto in their own vessels, and to import
possessions of the United States, in their
own vessels cargo for sale or exchange in
the United States, but no ship of such q
company shall be laden with the company s
own cargo to the exclusion of cargo offered
such cargo oiFsrea BY by the general public
shall have preference on all voyages for
Fifth-To authorize corporations. foreign
and domestic. to subscribe to and own shares
Of their capital stock, not however in excess
Of the limitation above provided.
No leased property or chartered ship shall
be within the exemption herein granted, NOT
shall vessels of such corporations operated
in the coasting trade Of the United States,
Onarafad hatURou of ha limit Cd
States. other than Louisiana ports, and
foreign countries, not including the foreign
possessions of the United States, be within
voyage in any year shall subject the vessel
making the voyage to taxation for that year
The proof above required to be filed with
capital stock has been paid-in cash shall be
the joint affidavit of the president and sec.
rotary of the company to- that effect, accom-
panied by a verified trial balance of the
Each of said corporations shall possess
the power OF eminent domain for the purpose
Of acquiring land on which to erect . plant
to s su,S and repair B. ,'i fs4;S.r enacted,
That on the of6cisl ballot to be used at said
election shall be placed the words:
For the amendment exempting domestic
steamship companies from all taxation for
Fifteen Years under certain conditions
against the amendment exsmpting do
meStic steamship companies from all taxa
tion for Fifteen Years UNDER certain condi
TONS
And each elector shall Indicate his vote
on the proposed amendment Is provided In
the general election laws Of this State
P. NJ. LAMBREMONT
Lieutenant Governor and President Of thu
Senate.
Fl. G. DUPRE,
Speaker Of the House of Representatives
Approved: July Z, 1910.
J: Y. SANDERS,
Governor of the State of Louisisns
true copy: