St. Landry clarion. (Opelousas, La.) 1890-1921, 1910-10-29
ACT No. a7a.
senate Bill No. 1s7.

Senate Bill No. 1s7.
AN ACT
Submitting to the people OF the State Of Lou
is{ann. al The conversational election to be
held il EoYebmer, 1910, an amendment to the
constitution axempting from tsxstlon IoE
8ftsen years from the date Of full cash
payment Of their capital stock domestic
Steamship companies engaged IN forelgn
commerce, and Axing the conditions Of such
exemption.
whereas, The City Of New Orleans is the
natural gatewaY oS the MISSISSIPPI galey
through which should pass the commerce
81 that greessst and most yirile section
Of this republic; end
Whereas, tbs conpletion of the Panama
Canal will give IA enormous sslmutus TO
Spade and eoHmseca between the Aissis-
aIppi Valley snd Orient and the west coast
Of Bopth America and Of our own country;
and
Whereaa the people Of the Mississippi
prepared to take immediate advantage OF
this nSw channel Of trsde. lest at.s ms D@ 81
by she marittuas rivals OF th5s country;
Whereas. GsEsas steamship companies mics
and the absolutely necessary means
whereby trade and commerce between the
Mississippi Valley and the countries Dor
dsring on the Pacific ocsan may be pro-
noted and conserved for our own country;
Whereas, the State proposes to tax her,
& H&lk 10 nEeG14f5 = SIEAb WITH . GAPOS4bAOA
al New Orleans 10 celebrate the completion
OF the Panama Canal, and it is the States
dnty to encourage and promote the organ
ization Of sgeh great sseam ~ Bic om pan.
Section 1. Be II enacted by the General
Assembly Of the State of Louisiana, two
shirds Of ali the member elected to each
branch thereof concurTing. that ct the cong
reBsional election to be held in this ststs on
Tuesday, November 8, 1910, the following
s~meAdment to the Contribution shall be sub
~s&A,l - ~ tha State fn.Uffs
tSteamship companies organized as here
matter set forth, together with their capital
geock and all their property, .corporeal and
inoorporeal, shall be exempt from all taxes
and ~licanses, State, Parish, Levss and NUM-.
capRI, both general and special, exclusive Of
wharfage, shed or Ierea dues. for fifteen
years from the data of Sling with the Secre-
larry Of State prooe that their authorized
sApital stock has been paid in full in cash.
No such steamship company shall have the
unon tie following conditions:
First-That such company ahaN have been
organized and the whole Of is authorized
capital stock paid In cash within tive years
second-That such company shall be domi-
eiled in the City Of New Orleans, or In some
ether port Of this stsse-
capital stock Of at least tar@o million dollars,
Foursh-That Il shall Be provided in ths
charter Of the company taas no corporation,
or Gran, or individual shall OWE or control
either directly or indirectly, naoge than one
tweneieth OF the capital stock Of she com.
pany; and that SD pooling agreements and
voting trusts between tbs stockholders 90
ecntrcl the corporation ehall be absolutely
mai and void and no stock held In any such
pool o. voting trust shall ever be voted Of
any corporate election or meeting.
F9th-Thak 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 If oyer-snhscgibed
shall bs appoKsionsd among the subscribers.
Bixth-Thss an vessels operated By said
company shall be common carriers on evafy
voyage unless the whole capacity Of the ship
ahaIl be chartered for 5 particular voyage.
for e particular purpose.
III shall be lawful for companies 30 oEgani.
Eed Ia. addition to the powers now provided
by the laWs of the State to incorporate into
their chartesa sl Or any Of the following
Nrst-To build. charter or purchase ves-
Bsssnd-To insure goods. wares and mar