Tensas gazette. [volume] (St. Joseph, La.) 1886-current, 1910-10-21
ACT No. 27s.
Senate Bill No. 137.
AN ACT

Senate Bill No. 1877.
AN ACT
Submitting to the people of the State Of Lou
lsiana, at the congressional election to bt
held in Novebmer, 1910, an amendment to tn,
constitution exempting from taxation fol
fifteen years from the date of full 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 to
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
field which it opens be taken possession OF
by the maritime rivals of this country
and
Whereas, great steamship companies
domiciled in New Orleans are the only
and the absolutely necessary means
whereby trade and commerce between the
dering on the Pacific Ocean may be pro-
noted and CONSERVED for our own country
and
Whereas, the State proposes to tax her
at New Orleans to celebrate the completion
Of the Panama Canal, and it is the State S
duty to encourage and promote the organ
ization of such great steamship companies
in aid and in furtherance of this project.
Section L. Be it 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
ressonal election to be held in this State on
Tuesday November 8, 1910. the following
amendment to the Constitution shall be sub
N ~ n br w
steamship companies organized as here
matter set forth. together with their capital
stock and all their property .corporeal and
incorporeal. snail be exempt from all taxes
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-
tary of State proof that their authorized
capital stock has been paid in full in cash.
No such steamship company shall have the
benefit of this constitutional provision except
upon the following conditions:
First-That such company shall have been
organized and the whole of its authorized
capital stock paid in cash within two years
Second-That such company shall be domi-
ciled in the City of New Orleans, or in some
other port of this State.
Third-That such company shall have a
capital stock OF at least three million dollars,
payable only in cash.
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 or 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 if over -subscribed
shall be apportiOned among the subscribers.
company shall be common carriers on every
voyage unless the whole capacity of the ship
shall be chartered for a particular voyage.
for o particular purpose.
It shall be lawful for companies SO organi.
.ed in addition to the powers now provided
by the hws of the State to incorporate into
their charters all or any Of the following
powers:
Ffrst-To build. charter or purchase YES
sells.
second-To insure goods. wares and mer,
chandise carried in their own bottoms against
fire and perils Of the sea.
Third-To build own, rent and operate
shipyards. docks. piers: wharves and ware
houses for the transaction of their business
Fourth-To trade with foreign countries,
including the foreign possessions of the
United States, by exporting cargo carried
from foreign countries, including the foreign
possessions Of the United States, in their
own vessels cargo for sale or exchange in
u
company shall be laden with the companys
own cargo to the exclusion of cargo offered
for such voyage by the general public. and
such cargo offered BY the general public
which it is offered.
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, nor
hall CA1c nf ,l A~I
in the coasting trade of the United States,
States, other than Louisiana ports, and
possessions of the United States. be within
the exemption herein granted. One such
voyage in any year shall subject the vessel
The proof above required to be fled with
the Secretary of State that the authorized
capital stock has been paid in cash shall be
the joint affidavit of the president and Sec
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 tc erect o plant
Section 2. Be il further enacted. etc,
That on the Official ballot TO be used at said
election shall be placed the words:
For the amendment exempting domestic
steamship companies from all taxation fer
Fifteen Years under certain conditions.
Against the amendment exempting do.
nestle steamship companies from all taxa
ton for Fifteen Years under certain condi-
tons"
And each elector shall indicate his vot.
on the proposed amendment as provided in
the general election laws of this State
p. NJ. LAMBREMONT
Governor and President Of the
Senate.
II. G. DUPRE,
Speaker Of the House of Representative. |
Approved: July z, 1910.
J. Y. SANDERS
Governor of the State of Louisiana. |
true copy:
JOHN r. MICHEL.