Tensas gazette. [volume] (St. Joseph, La.) 1886-current, 1910-09-09
ACT No. 27s.
Senate Bill No. 1877.

ACT NO. Wv.
Senate Bill No. 1877.
AN ACT
Submitting to the people Of the State Of Lou
isiana, at the congressional election to be
held in Novebmer. 1910. IN amendment to the
constitution exempting from taxation for
fifteen years from the date of full cash
payment of their capital stock domestic
Steamship companies engaged in foreign
commerce, and fixing the conditions OF sucn
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
Of South America and OF our own country
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
domicled in New Orleans are the only
and the absolutely necessary means
whereby trade and commerce between the
Mississippi Valley and the countries bor-
NOTED and conserved for our own country;
whereas. the 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
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 General
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 9. 1910, the following
amendment to the Constitution shall be sub
mitted to the electors of the State. to-wit:
Steamship companies organised rs here.
tnafter set forth. together with their capital
stock and all their property. .corporeal and
incorporeal. shall be exempt from al taxes
cipal, both general and special, exclusive of
wharfage. 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
upon tn. :uek shall. h.v.
organized and the whole Of its authorised
capital stock paid in cash within two years
from January /. 1911.
ciled in the City Of New Orleans, or in some
other port Of this State.
Third-Thst such company shall have q
capital stock Of at least three million doIlsrs'
Fourth That it shall be provided in the
charter of the company that no corporation,
OF srm shall 0"a Of than
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 81
any corporate election or meeting.
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 over subscribed
shall be apportioned among the subscribers
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 q particular voyage,
1t shall be lawful for companies so organi.
zed in addition to the powers now provided
their charters all or any Of the following
First-To build, charter or purchase yes
sells.
Second-To insure goods, wares and msr
ehandise carried in their own bottoms against
Are and perils Of the sea.
Third-To build, own. rent and operate
houses for the transaction Of their business
Fourth-To trade with foreign countries
including the foreign possessions Of the
thereto in their own vessels. and to import
from foreign countries including the foreign
possessions Of the United States, in their
own vessels cargo for sale or exchange in
company shall be laden with the company .
own cargo to the exclusion of cargo offered
for such voyage BY the general public. and
shall have preference on all voyages fol
Fifth-To authorize corporations, foreign
o9d s.p. not in
Of the Limitation above provided.
No leased property or chartered ship shall
be within the exemption herein granted, MOI
in the coastine trade Of the United States
or operated between ports OF the United
States. other than Louisiana ports, and
possessions Of the United States. be within
voyage in any year shall subject the vesss
The proof above required to be filed with
the Secretary Of State that the authorized
capital stock has been paid in cash shall b.
the joint affidavit of the president and sec
panied by a verified trial balance Of II,
company's books.
Each Of said corporations. shall posses.
Of acquiring land on which to erect . plan
to build and repair vessels:
Section 2. Be it further enacted. etc.
election shall be placed the words:
For the amendment exempting domestic
steamship companies from all taxation fol-
Fifteen Years under certain conditions"
and the words:
Against the amendment exempting do
nestle steamship companies from all taxa
ton for Fifteen Years under certain condi
tons"
And each elector shall indicate his vot,
on the proposed amendment as provided il
the general election lays Of this State;
Lieutenant Governor and President Of M
Senate.
H. G. DUPRE.
Speaker Of the House of Representatives
Approved: July Z. 1910.
J. Y. SANDERS,
Governor of the State Of Louisiana
A true copy:
JOHN T. MICHEL.
Secretary Of State.