Tensas gazette. [volume] (St. Joseph, La.) 1886-current, 1910-09-09
ACT No. 27S.
Senate Bill No. 1877.
AN AC

ACT No. 27s.
Senate Bill No. 1877.
AN ACT
Submitting to the people of the State Of Lou
isiana, at the congressional election to be
held in Novebmer, 1910, an amendment to ths
constitution exempting from taxation for
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
this 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
and the absolutely necessary means
whereby trade and commerce between the
Mississippi Valley and the countries Dor
dering on the Pacific Ocean may be pro-
and
Whereas, the State proposes to tax her
self to promote 9 great worlds exposition
at New Orleans to celebrate the complstion
of the Panama Canal, and it is the State 3
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
aa1 oil 20 ho ha1A in 10 Stof nv,
Tuesday November 8, 1910. the following
amendment to the Constitution shall be sub
mitted to the electors of the State. to-wit:
Steamship companies organized as here
matter set forth, together with their capital
stock and all their property, corporal and
incorporeal, shall be exempt from all taxes
and licenses, State, Parish, teyee and NUM-,
cipal both general and special, exclusive Of
wharfage, shed levee dues, for fifteen
years from the date of filing with the Score.
tary of State proof that their authorized
No such steamship company shall have the
benefit Of this constitutional provision except
upon the following conditions:
organized and ' the S whois Of Il. authorized
capital stock paid in cash within two years
from January /. 1911.
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
capital stock Of at least three million dollars.
FourthMfhat It shall be provided in the
charter 81 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
pool or voting trust shall ever. be voted at
any corporate election or meeting.
Fifth--Thss the capital stock Of each con.
ynuS to IN New
newspapers for Ut least three months before
the books are closed, and IL over subscribed
shall be apporticned among the subscribers;
company shall be common carriers on every
voyage unless the whole capacity Of the ship
shall be chartered for . particular voyage,
It shall be lawful for companies so organi.
By the laws Of the State to incorporate into
their charters oil or any OF the following
FIrst-To build. charter or purchase YES
Sseond-To insure goods, wares and msr.
hre 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
thereto in theE own vessels a,i and to impor,
possessions Of the United States, in their
own vessels cargo for sale or exchange in
the United States but no ship of such a
company shall be laden with the company s
own cargo to the exclusion Of cargo offered
such cargo offered by the general public
shall have preference on oil 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. nor
shall vessels Of such corporations operated
or operated between ports of the United
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
the Secretary of State that the authorized
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 verified trial balance Of the
Each Of said corporations shall posses,
the lower Of eminent domain for the purpose
of acquiring land on which to erect plant
to build and repair vessels.
Section 2. Be it 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 fol-
Fifteen Years under certain conditions"
and the words:
against the amendment exempting do
nestle steamship companies from all taxa
TONS
And each elector shall indicate his vote
on the proposed amendment as provided In
the general election laws of this State.
P. NJ. LAMBREMONT,
Lieutenant Governor and President Of the
Senate.
H. @. DUPRE,
Speaker Of the House Of Representatives
Approved: July Z, 1910.
J. Y. SANDERS,
Governor of the State of Louisiana
A true COPY:
JOHN T. MICHEL.
SECRETARY of StatA