St. Tammany farmer. [volume] (Covington, La.) 1874-current, 1910-09-10
ACT No. 27s.
Senate Bill No. 1877.

Secretary OF State.
ACT No. 27s.
Senate Bill No. 1877.
AN ACT
Submitting to the people of the State Of Leu
isiana, at the congressional election to pc
held in Novebmer, 1910, an amendment to the
constitution exempting from taxation 1or
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 write sectlon
of this republic; and
whereas, the completion Of the Panama
Canal will give an enormous stimulus 70
sippi Valley and Orient and the west coast
of South America and of our own country;
and
Valley and of the whole South must be
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 on. mics
and the absolutely necessary means
whereby trade and commerce between the
Mississippi Valley and the countries Dor
.na the may
ava ~~~
Whereas, the State proposes to tax her
self to promote great worlds AZ snposaHon
of the Panama Canal, and it is the States
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 Generai
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 sab
mitted to the electors of the State. to-w1t:
Steamship companies organised as mere,
matter set forth, together with their capital
stock and all their property, corpornal and
and licenses, State, Parish, Lsvee and MUM.
Wharfage. shed or levee dues for fifteen
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 cen
and The whole Of ~ swa Taa9a
frontal aGm J. saosK p1ld 1 10 Two
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 hays .
capital stock Of at least three million dollars
payable only in cash;
HOurt1-llAL
charter Of the company that no corporation,
or Arm, or individual shall own or control
either directly or indirectly. more than one
Of the capital .. ent an
voting trusts between the stockholders to
control the corporation shall be absolutely
pooI OF voting trust shall ever be voted at
Fifth-That the capital stock Of each com
yh a b to IN ssw
| newspapers for at least three months before
the books are closed, and if over subscribed
' 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 a particular voyage
! for particular purpose.
It shall be lawful for companies SO organl,
| zed in addition to the powers now provided
! their charters all or any Of the following
Ffrst-To build, charter or purchase yes
second-To insure goods, wares and mer,
ehandise carried in their own bottoms against
fire and perils Of the sea.
docPs peps and
Fourth-To trade with foreign countries,
the fOresn OF is
from foreign countries, including the, foreign
possessions OF the United States IN their II
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 re-
such cargo offered by the general public
shall have preference on all voyages for
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.
A-%u cha rfn IA a
be within the exemption herein granted, nor
in the eoasting trade Of the United States,
foreign countries, not including fhe foreign
possessions of the United States, be within
1osass in an9 year shaft sue. he
making the voyage to taxation for that year
The proof above required to be flied with
capital stock has been paid in cash shall b.
rotary Of the company to that effect, accom-
panied by q verified trial balance of the
Each Of said corporations shall posses.
the power Of eminent domain for the purpose
s ss2Hr ans 1spsp on 7s sih to erect
Section 2. Be it further enacted, etc.
That on the official ballot to be used at saie
shall be gnssa e the we5as
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
ton for Fifteen Years under certain condi
TONS
And each elector shall indicate his vote
on the proposed amendment provided il
the general election laws of this State.
P. NJ. LAMBREMONT,
Lieutenant Governor and President of tn
| Senate.
H. G. DUPRE,
Speaker Of the House Of Representatives
Approved: July 7, 1910.
J. Y. SANDERS,
Governor of the State Of Louisiana
true copy:
| JOHN T. MICHEL,
Sacretarv of State