St. Tammany farmer. [volume] (Covington, La.) 1874-current, 1910-10-29
ACT No. 279.

JOHN L. MICHEL,
Secretary Of State. -
ACT No. 27s.
Senate Bill No. 1877
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 for
fifteen years from the date of full cash
steamship companies engaged in foreign
commerce. and fixing the conditions of such
exemption.
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
trade and commerce between the Missis-
sippi Valley and Orient and the west coast
Whereas, the people Of the Mississippi
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 !;
Whereas, great steamship companies
domicied in New Orleans are the only
and the absolutely necessary means
Whereby trade and commerce between the
dering on the Pacific Ocean may be pro-
NOTED and conserved for our own country !;
and
Whereas, tho State proposes to tax her
self to promote great worlds exposition
at New Orleans to celebrate the completion
OF the Panama Canal, and it is the State s
duty to encourage and promote the organ
in aid and in furtherance of this project:
Assembly Of the State Of Louisiana, two.
branch thereof con curing, that at che cong
ressional election to be held in this State on
Tuesday, November 8, 1910, the following
amendment to the Constitution shall be sub
Steamship companies organized as here.
matter set forth. together with their capital
stock and all their property, .corporeal and
incorporeal, shall be exempt from all taxes
and licenses, State Parish, Levee and Mum.
cipal, both general and special, exclusive OF
shed or levee dues for fifteen
years from the date of filing with the Score;
capital stock has been paid in full in cash.
No such steamship company shall have the
benefit of this constitutional provision except
First That such company shall have been
organized and the whole of its authorized
capital stock paid in cash within two years
from sa,s January ny l, 1911. shall ;. a,n;
ciled in the City of New Orleans, or In some
other port of this State.
Third-That such company shall have .
capital stock Of at least three million dollars.
payable only in cash.
Fourth-That it shall be provided in the
charter of the company that no corporation
or firm, or individual shall own or control
either directly 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
null and void and no stock held in any such
pool or voting trust shall ever be voted at
any corporate election or meeting.
pany Shall Be- ' open sa to pu bic subscription
by public advertisement in New Orleans
newspapers for at least three months before
the books are closed, and if oversubscribed
Sixth-That all vessels operated by said
shall be common carriers on every
voyage unless the whole capacity OF the ship
shall be chartered for particular voyage,
for 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:
Flrst-To build, charter or purchase YES
sells.
second-To insure goods, wares and ner.
shandise carried in their own bottoms against
Ire and perils of the sea.
Third-To build, own. rent and operate
M d doc psr "a ssr and
Fourth-To trade with foreign countries,
including the foreign possessions of the
United States, by exporting cargo carried
from foreign countries, including the foreign
possessions Of the United States, In their
own vessels cargo for sale or exchange in
The United put MO snip tIs OF susn
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 Ia offered. H@E
Fifth-To authorize corporations, foreign
md domestic, to subscribe to and own shares
II the limitation above provided.
No leased property or chartered ship shall
BE within the exemption herein granted, nos
shall vessels Of such operated
or operated between ports Of the United
States other than touisisns ports and
he exemption herein granted. One such
7oyage in any year shall subject the vessel
making the voyage to taxation for that year.
&, The proof above required to be filed with
capital stock has been paid In cash shall be
.etary Of the company to Tat effect, accom-.
Each Of said corporations shall possess
he poweE. Of emf, eminent domain i for the purpos:
Sad ana repair 1s whih plant
Section O. Be it further enacted, ssc.,
That on the official ballot to be used at said
election shall be placed the words:
For the amendment exempting domestic
steamship companies from all taxation for
Fifteen Years under certain conditions
md the words:
against the amendment exempting do.
nestle steamship companies from all taxa
ion for Fifteen Years under certain condi-
IONS
And each elector shall indicate his vote
he Id IN
he general election laws of this State.
P. NJ. LAMBREMONT, s
Lieutenant Governor and President of the
Senate.
H. G. DUPRE,
Speaker Of the House Of Representatives.
Approved: July Z, 1910.
J. Y. SANDERS
Governor of the State of Louisiana.
true copy:
JOHN T. MICHEL
Secretary of State.