St. Landry clarion. (Opelousas, La.) 1890-1921, 1910-10-01
ACT No. 27s.
AVA NV" @FV'
Senate Bill No. 1877.
AN ACT

AN AGI
to the people Of the State OF hou-
isisna, at the Congressional eleet1on 70 %
held il NovehmeP, 1910, an amendment TO me
constitution s1empting from tsxatlon Los
&ttsen years from the date OF I9ll easn
payment Of thsir capital stock: domestlc
Efssmship companies engaged in foreign
-cournereo, and HxIng the conditions 81 sueh
exemption.
whereas, the City q Nsw Orleans han T j. the
Through which should pass the commerce
e9 that greAtsst and most virile section
Of this republic; -
Whereas, the completion of the Panama
Canal win give an enormous stimulus TO
Trade and eouaneSee between the Misslsss
sippi Valley and Orient nj the west coast
Of South America snd OF our own country,
Whereas, the people Of che Mississippi
prepared to take i q s@ass i sotaf ne vast St
BY the maritime rivals of this country;
Whereas, great steamship companies
donaiciied in New Orleans are the only
and the absolutely necessary means
Whereby trade and ms between h -
dsring on the Pacific Ocean may pc pro
noted and conserved for our own country
and bar
self to promote Z great worlds exposition
ak New Orleans 20 celebrate the cempieIon
Of the Panama Canal, and it Is the State 8
dHty to encourage and promote me oLggn-
ization Of such great steamship companies
in aid and in furthsrance OF this pro1eck;
Section i. Be Is enacted by the General
thirds Of all the members elected to eaeh
branch thereof concurring, that ~ me eons.
regsionsl election TO be held in this state on
-mendman to the Constitution shall be sub
mitaed to the electors of tho State, to-wit:
''Steamship companies organlzsd.as neIei
matter set forth, together with tnelr caplsal
gSock and all their property, corporsal ano
incorporeal, shall be exempt from al ka19a
and licenses. State, Parish, Leves and Mdni;
clpal, both general and special, excluslys @
wharfage, she'd or levee dues. for hfteer
years from the date of Gling with the secre
taFy Of State proof that their authorized
capital stock has been paid u III ~ ca 81,
bennett Of this constitutional provision exeep'
upon the following conditions; -,
First-That such company shall heye neei
organized and tbs whole Of - autnorlzee
capital stock paid In cash within tive year
from January 1, 1911.
second-Thas suoh company shah be ooml
ciled in the City Of New Orleans, or N som
other port of this State.
ThiTd-That such company ghaI nave
capital stock Of at least three mi1ISon ooilara
pegs oDp5TsshomatTfhlnas i Il shan be provided IN u
charter Of the company thas no corpoxasso1
OF arm, or individual shall OWE or eontSo
twenfieth Of the capital stock o2 the con
gsnz: and that ali pooling agreements an
voting trusts between tbs stockholders
centroi the corporation shall be ahsoSnSei
nah and void and no stock held In any cue
pool or voting trust shall ever be voted 9
sny corporate election or meeting.
Fifth-That the capital stock Of each cog
psny shall be open to public sunscrapsio
by public advertisement IN Rev. urlsAn
newspapers for at least three months bsIoE
the books are closed, and If over.subscxies
shall be sppo9tioned among the subscriber
Eixfh-ThaS ali vessels operated by @Aa
company shall be common carriers IN eYeL
voyEge unless the whole capacity Of the aha
RhRli be chartered for a particular voyag
for g particular purpose.
Il shall be Lawful for companies 50 organ
xed IN addition to the powers now provide
By the laws of the State to incorporate Ia
their charters ALI or any OF the foiiowtn
Tfrst-To build. charter or purchase Ve
secOnd-To insure goods, wares and ma