The Bossier banner. [volume] (Bellevue, Bossier Parish, La.) 1859-1952, 1910-10-13


fnent Of their capital stock domestic
steamship companies engaged in for
eign commerce, and fixing the con-
ditions of such exemption.
Whereas. the City of New Orlea"s
Is the natural gateway of the Nj
sissippi Valley, through which shou'
pass the commerce of that create
and most virile section of this rt-
public: and
Whereas, the completion of the
Panama Canal will give an enormous
stimulus to trade and commerce be
tween the Mississippi Valley AZ J
Orient and the west coast of Sou.
America and of our own county;
and
Whereas the people Of the Miss:s-
sippi Valley and of the whole South
must be prepared to take immediate
advantage of this new channel of
trade, lest the vast field which i.
opens be taken possession Of by tn
Whereas, great steamship COM
panies domiciled in New Orleans are
the only and the absolutely necessary
means whereby trade and commerce
between the Mississippi Valley and
the countries bordering on the Pacific
Ocean may be promoted and con-
served for our own country; and
Whereas, the State proposes to tax
exposition at New Orleans to ceie-
brate the completion of the Panama
Canal, and it is the States duty to
encourage and promote the organize
ton of such great steamship CO.. :
panies in aid and in furtherance of
Section i. Be it enacted by the Cen
eral Assembly of the State OF Lonisi-
ana, two-thirds of all the men bers
elected to each branch thereof concur
ring, that at the congressional election
to be held in this State on Tuesday.
November Sth. 1910. the following
amendment to the Constitution shall
be submitted to the electors of the
State, to-wit:
Steamship companies organized as
hereinafter set forth. together with
their capital stock and all their prop
erty. corporal and incorporeal,. shall
be exempt from all taxes and licenses.
State, Parish, Levee and Municipa
both general and special, exclusive Of
wharfage. shed or levee dues. for fiji
teen years from the date of filing with
the Secretary of State proof that their
authorized capital stock has been paid
in full in cash.
No such steamship company shall
have the benefit of this constitutional
provision except upon the following
First-That such company shall have
been organized and the whole CT its
authorized capital stock paid in cash
within two years from January 1st
1911.
Second-That such company shall be
iomiciled in the City of New Orleans
or in some other port of this State.
Third-That such company shall
/ have a capital stock OF at least three
Fourth-That it shall be provided In
the charter of the company that nc
| corporation. or firm. or individual shall
own or control, either directly or in
directly, more than One-twentieth OF
the capital stock of the company; and
| that all pooling agreements and votin
trusts between the stockholders to can.
| troll the corporation shall be absolutely
any such pool or voting trust shall evel
be voted at any corporate election OF
meeting.
Fifth-That the capital stock of each
scription by public advertisement
New Orleans newspapers for at leas
three months before the books arc
closed. and if over-subscribed shall be
apportioned among the subscriber.
Sixth-That all vessels operated bi
said company shall be common car
riers on every voyage unless the who'll.
capacity of the ship shall be char,ere@
for a particular voyage or voyage:
| for a particular purpose
It shall be lawful for companies 81
| organized In addition to the power:
now provided by the laws of the S-l-'
to incorporate into their charters all OF
any of the following powers:
First-To build charter or purchas,
| vessels.
second-To insure goods. wares an,
merchandise carried in their own bot
toms against fire and perils of the s.,
| Third-To build. own, rent and oD"r
ate shipyards, docks, piers, wharve!
and warehouses for the transaction o
their business.
Fourth-To trade with foreign coun
tries. including the foreign possessions
Of the United States. by exportins
cargo carried thereto in their own yes
sells. and to import from foreign conn
tries, including the foreign posses
sions of the United States. in their owl
vessels cargo for sale or exchange j:
the United States. but no ship of sucl
= company shall be laden with ti''
sOmpany's own cargo to the exclus::i
the general public. and such cars
offered by the general public shall hay
preference on all voyages for whfc.
It is offered.
foreign and domestic. to subscribe t,
and own shares Of their capital stock
not, however. in excess of the limita
ton above provided.
No leased property or chartered shi1
shall be within the exemption hereil
granted. nor shall vessels of such cor
trade Of the United States. or oper
ated between ports Of the Unitet
and foreign countries. not including tn
foreign possessions of the Unite,
Etates, be within the exemption berei'
tranted. One such voyage in any yea
shall subject the vessel making tn
voyage to taxation for that year.
The proof above required to be file
with the Secretary of State that tn
authorized capital stock has been pal
In cash shall be the joint affidavit q
the president and secretary of the com
pany to that effect. accompanied by
verified trial balance of the company
books.
Each of said corporations shall pos
sess the power of eminent domain fo
the purpose of acquiring land on whic
to erect plant to build and repai
vessels"
Section 2. Be 1t further enacte,
etc, That on the official ballot to b
used at said election shall be place
the words:
For the amendment exempting dc
nestle steamship companies from a
taxation for Fifteen Years under Ger
tain conditions"
and the words:
Against the amendment exemptin
domestic steamship companies frol
all taxation for Fifteen Years unde
certain conditions"
And each elector shall indicate hi
vote on the proposed amendment a
of this state.
P. NJ. LAMBREMoNT.
Lieutenant Governor and President {
the Senate.
H. G. DUPRE.
Speaker of the House of Representa-
tiveS.
Approved: July Z, 1910.
]. Y. SANDERS,
Governor of the State of Louisian,
JOHN I. MICHEL.
Secretary of tSate.
ACT No. 800.
House Bill No. 36S.
JOINT RESOLUTION
A Joint Resolution proposing a
amendment to the Constitution e