The Bossier banner. [volume] (Bellevue, Bossier Parish, La.) 1859-1952, 1910-10-20

fnent OF their capital stock domestic
steamship companies engaged In for
eign commerce, and fixing the con-
ditions of such exemption.
Whereas. the City of New Orleans
Is the natural gateway of the Mi
sissippi Valley. through which shou:
pass the commerce Of that create
and most vtrile section OF this r.
public; and
whereas, the completion of the
Panama Canal will give an enormo'
stimulus to trade and commerce be
tween the Mississippi Valley ~
Orient and the west coast Of Sout
America and of our own county;
and
whereas, the people of the Missis-
sippi Valley and of the whole Son.;
must be prepared to take immediate
advantage Of this new channel OF
trade. lest the vast field which i.
opens be taken possession OF by T.,
maritime rivals of this country; aud
Whereas great steamship COM
panies domiciled in New Orleans are
the only and the absolutely necessary
means whereby trade and commerce
between the Mississippi Valley and
the countries bordering on the Pacific
Ocean may be promoted and con-
served for our own country; and
Whereas, the State proposes to tax
herself to promote a great Wofin 5
exposition at New Orleans to ce!e-
brate the completion of the Panama
Canal, and it is the States dutv, to
encourage and promote the organiza-
ton of such great steamship coz.
panies in aid and in furtherance of
this project.
Section i. Be it enacted by the Ger
oral Assembly of the State of Loyiisi-
ana, two-thirds of all the members
elected to each branch thereof concur
ring. that at the congressional eiectlon
- holl IN,
November Sth. 1910, the following
amendment to the Constitution shah
be submitted to the electors OF the
State, to-wit:
hereinafter set forth. together with
their capital stock and all their prop
erty, corporeal and incorporeal, shall
be exempt from all taxes and licenses.
both general and special, exclusive of
wharfage. shed or levee dues. for fiji
teen years from the date of filing with
the Secretary of State proof that Their
authorized capital stock has been paid
No such steamship company shall
have the benefit of this constitnt onal
provision except upon the following
conditions:
First-rhat such company shall have
been organized and the whole of its
authorized capital stock paid in cash
within two years from January 1st,
1911.
Second-That such company shall be
1omiciled 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 CT in
directly, more than one-twentieta OF
~ Sfo1 ST hn Il
that all pooling agreements and votin i,
trusts between the stockholders to can
| troll 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 OIL
| meeting.
Fifth-That the capital stock of each
company shall be open to public sub
New Orleans newspapers for at leasi
three months before the books are
closed. and if over-subscribed shall BIZ
apportioned among the subscribers,
Sixth-That all vessels operated BY
said company shall be common car
riers on every voyage unless the whole
capacity of the ship shall be chartere
for particular voyage or voyage:
for particular purpose.
1t shall be lawful for companies So
organized in addition to the power:
now provided by the laws of the s ~
to incorporate into their charters all o.
any of the following powers:
First-To build. charter or purcaas'
vessels.
Second-To insure goods. wares ant
merchandise carried in their own bot
toms against fire and perils of the s.a,
Third-To build. own, rent and Or :
and warehouses for the transaction 0
their business.
Fourth-To trade with foreign coEn
tries including the foreign possession
l-A Sxo1 cf1f r. ~.
cargo carried thereto in their own vcs
sells. and to import from foreign coun
tries. including the foreign posses
sions of the United States, in their oH-,
the United States. but no ship Of sur!
Z company shall be laden with Il
sompany's own cargo to the exclus."
Of cargo offered for such voyage l.
the general public and such car.
preference on all voyages for whic
1t is offered.
Fifth-to authorize corporation
foreign and domestic, to subscribe
and own shares of their capital stocE
not. however, in excess of the limita
ton above provided.
No leased property or chartered shl
shall be within the exemption heref1
granted. nor shall vessels of such cor
porations operated in the coastin
trade of the United States. or oper
Rted between ports of the Unite
States. other than Louisiana port:
and foreign countries not including tn
States, be within the exemption herei
tranted One such voyage in any ycc
shall subject the vessel making tn
voyage to taxation for that year.
The proof above required to be file
with the Secretary of State that tn
authorized capital stock has been pal
In cash shall be the joint affidavit
the president and secretary of the con
pany to that effect. accompanied by
verified trial balance of the company
books.
Each of said corporations shall pc!
sess the power of eminent domain Il
the purpose of acquiring land on while
to erect a plant to build and repa
Section 2. Be it further enacte
etc. That on the official ballot to
used at said election shall be place
the words:
For the amendment exempting d,
nestle steamship companies from a
taxation for Fifteen Years under cel
tain conditions"
and the words:
Against the amendment exemptin
domestic steamship companies fro
all taxation for Fifteen Years und
certain conditions"
And each elector shall indicate h
vote on the proposed amendment
provided in the general election Law
of this state.
p. M. LAMBREMONT,
) Lieutenant Governor and President
the Senate.
H. G. DUPRE,
Speaker of the House of Represent
!; Approved: July Z, 1910.
! J. Y. SANDERS,
! Governor of the State of Louisian
A true copy:
JOHN T. MICHEL,
: Secretary of tSate.
h ACT No. 300.
: House Bill No. $685.
= JOINT RESOLUTION
d A Joint Resolution proposing +;
Y amendment TO the Constitution
he l..