The St. Mary banner. (Franklin, Parish of St. Mary, La.) 1889-1931, 1910-09-10
ACT No. 279.
Senate Bill No. 1877.

AN ACT
Submitting to the people OF the STATE o. no bs
,si4na at the congressional election 10 "
held in Novebmer, 1910. an amendment ~ tne
constitution exempting from taAali9h ~,
fifteen years from the date q iill stil.
rayment OF their capital stock domestIo
Steamship companies engaged IN iofeisn
commerce and fixing the conditions OF such
exemption
Whereas, the City OF New orleans !, Is In, tns
natural gateway of the Mississippi ailey
through which should pass the commerce.
OF that greatest and most write sectlon
Of this republic; and ,
Whereas, the completion OF the Panams
Canal will give an enormous stimulus to
trade and commerce between me Missis
sippi Valley and Orient and the west coae.
of South America and of our own country
Whereas, the people of the Mississippi
Valley and Of the whole south must ps
prepared TO take immediate advantage OF
this new channel of trade, lest tee vas:
field which it opens be taken possession o.
by the maritime rivals OF this country
Whereas, great steamship companies
domicled in New Orleans are the only
and the absolutely necessary means ans
Mississippi Valley and the countries Dor
dering on the Pacific Ocean may be pro-
NOTED and conserved for our own country
and
Whereas, the State proposes to tax her
self to promote a great world exposition
at New Orleans to celebrate the completion
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 concurrlng, that at the cong
ressional election TO be held in this state on
Tuesday November 8, 1910 the following
amendment 10 the Constitution shall be sub
mitted to the electors Of the State. to-wlt:
Steamship companies organized as mere,
matter set forth, together with their capital
stock and all their property, corporeaI ana
ncorporeal shall be exeapt from all taxes
cipal, both general and special, exclusive OF
wharfage. shed or levee dues, for fifteen
years from the date Of filing with the score
tary Of State proof that their authorized
capital stock has been paid in 1ull IN cash
No such steamship company shall! have the
benefit of this constitutional provision except
/ First-That such company shall have been
I organized and the whole Of IFS authorized
| capital stock paid in cash within two years
/ from January l. 1911.
/ second-That such company shall be domi-
4 c;led in the City OF New Orleans. in some
other port Of this State.
Thrd-That such company shall have
| capital stock OF at least three million dollars.
pa able only in cash
Fourth-That it shall be provided in the
/ charger 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 or the com,
!
! voting trusts between the stockholders to
/ control the corporation shall be absolutely
nun 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
I by public advertisement III New orleans
! newspapers for at least three months before
the books are closed. and il over subscribed
shall be aPportloned among the s9oSrrioeris !;
Sxth-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
I for n particular purpose.
! 1t shall be lawful for companies so nrgani-
| 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
Second-To insure goods, wares and mer-
, chandise carried in their own bottoms against
fire and perils, Of the sea.
4 Third-To build. own. rent and operate
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 their own vessels. and 10 import
from foreign countries, including the foreign
! own vessels cargo for sale or exchange in
the United States, but no ship of such a
| company shall be laden with the company 8
| own cargo to the exclusion of cargo offered
such cargo offered by the general public
shall have preference on all voyages fo'
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 chartered ship shall
he within the exemption herein granted, nor
i shall vessels. OF such corporations operated
in the sting trade of the United States,
| 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
! the exemption herein granted. One such
| 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 Join, affidavit Of the president and sec
panied by verified trial balance Of the
company's books.
Each of said corporations shall possess
the power 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 for
| Fifteen Years under certain conditions
and the words:
Against the amendment exempting do.
| mestic steamship companies from all taxa
tion for Fifteen Years under certain condi-
And each elector shall indicate his vote
| on the proposed amendment as provided in
'"e -'''N P. II. LAMBREMoNT.
Lieutenant Governor and President of the
Senate.
H. G. DUPRE.
Speaker Of the House of Representatives
Approved: July :, 1910 ,xnr,s
Governor of the State of Louisiana.
Join 1f%f coy r MICHEL,