Lower coast gazette., 1910-09-03

meeting.
Fifth-That the capital stock of each
company shall be open to public sub
scriptiOn by publ, advertisement in
New Orleans newspapers for at
least three months before the books are
closed, and if ove~rsubscribed shall BE
apportiOned among the subscribers.
SiXth-That all vessels operated by
said company shall be common ar
riprS on every VOYAGE unless the whole
rapaCi1y Of the ship Shall be chartered
for a particular voyage or voyages
for a particular purpose.
II shall be lawful for companies SO
Organized 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:
First-To build, charter or purchase
vessels.
SecOnd-To insure goods, wares and
merchandise carried in their own bot
IONS AGAINST fire and perils Of the sea.
Third-To build, own, rent and oper
at" shipyards. docks, piers, wharves
and warehouses for the transaction Of
their business.
FOurth-TO trade with foreign cOun
tries, including the foreign possessions
Of The United States, by exporting
cargo carried thereto in their own YES
sells, and to import from foreign coun
tries, including the foreign posses
SiOns Of the United States, in their own
vessels cargo for sale or exchange i'll
the United States, but no ship Of such
a company shall be laden with the
company's own cargo to the exclusion
Of cargo offered for such voyage by
the general public, and such cargo
offered by the general public shall have
preference on all voyages for which
it is offered.
Fiflh-TO authorize corporations,
foreign and domestic, to subscribe 10
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, nor shall vessels OF such cor
pOratiOns operated in the C0aSllnS
trade of the United States, or opeT'
ated between ports Of the United
States, other than Louisiana ports, and
foreign countries, not including the
foreign possessions of the United
States, be within the exemption herein
granted. One such voyage IN any year
shall subject the vessel making the
VOYAGE to taxation for mat year.
The proof above required to be filed
with the Secretary of State that the
authorized capital stock has been PAID
in cash shall be the joint affidavit OF
the president and secretary OF the com
pany to that effect, accompanied 0y a
verified trial balance of the cOmpanys
books.
Each of said corporations shall pos
sess the power Of eminent domain FOR
the purpose of acquiring land on when
to erect a plant to build and repair
vessels"
Section .. Be it further enacted,
etc. That on the official ballot to be
used at said election shall be placed
the words.
For the amendment eXemptlng DO
nestle steamship companies from all
tayatiOn for Fifteen Years under GER
tain conditions
and the words:
Against the amendment eXemptins
domestic steamship companies from
all taxation for Fifteen Years under
certain conditions"
And each elector shall indicate his
vote on the proposed amendment as
provided in the general election laws
Of this State.
p. NJ. LAMBREMONT,
Lieutenant Governor and President OF
the Senate.
H. G.. DUPRE,
Speaker of the House of Representa-,
tives.
Approved: July !, 1910.
j. Y. SANDERS,
Governor of the State of Louisiana.
A true copy:
JOHN T. MICHEL,
Secretary of State.