Tensas gazette. [volume] (St. Joseph, La.) 1886-current, 1910-11-25
ACT No. 27s.
Senate Bill No. 1877.
AN ACT

ACT No. 27s.
Senate Bill No. 1871.
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 the
constitution exempting from taxation ior
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
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
sppi Valley and Orient and the west coast
Of South America and Of our own country;
and
Whereas, the people Of the Mississippi
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;
and
Whereas, great steamship companies
in New orleans aps the
whereby trade and commerce between the
Mississippi Valley and the countries bor-
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 worlds exposition
at New Orleans to celebrate the completion
of the Panama Canal, and 1t is the State
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
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 State, to-wlt:
Steamship companies organized as here
matter set FORTH together with their capital
stock and all their property, .corporeal 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.
| 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 i in cash within two years
] Second-That such company shall be domi-
4 cied in the City of New Orleans. or in some
| other port of this State. In
! Third-That such company shall have q
capital stock Of at least three million dollars
payable only in cash; -.
/ Fourth-That it shall be provided in the
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-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 over-subscribed
shall be aPporticned 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-Te 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.
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 their own vessels. and to import
from foreign countries. including the foreign
possessions Of the United States. in their
the United States, but no ship of such q
company shall be laden with the company 8
own cargo to the exclusion OF cargo offered
such 'o cargo '' offered by the general public
shall have preference on all voyages fol-
which it is offered
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, moi
I shall vessels of such corporations operated
in the coasting trade Of the United States
foreign countries. not Including the foreign
possessions of the United States. be within
voyage in any year shall subject the vesse
making the voyage to taxation for that year
The proof above required to be filed with
capital stock has been paid in cash shall b
the joint affidavit Of the president and sec
Rotary. Of the company to that effect. accom-
panied BY verified trial balance Of thu
Each Of said corporations shall posses,
the power Of eminent domain for the purpos.
OF acquiring land on which to erect . PLAN
Section 2. Be it further enacted, etc.
That on the Official ballot to be used at sait
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
mestic steamship companies from all taxa
tion for Fifteen Years under certain condi
TONS
And each elector shall indicate his vot,
on the proposed amendment as provided il
the general election laws of this State.
| P. NJ. LAMBREMONT,
Lieutenant Governor and President Of th,
| Senate.
| H. G. DUPRE,
Speaker Of the House Of Representative
Approved: July z, 1910.
j. Y. SANDERS,
| Governor of the State Of Louisiana
A true copy: