St. Tammany farmer. [volume] (Covington, La.) 1874-current, 1910-10-01

Governor of the State Of Louisiana.
A join ssSi coy +. MICHEL.
Secretary Of State.
ACT No. 27s.
Senate Bill No. 1877.
AN ACT
Submitting to the people Of the state OF Leu.
isiana, at the congressional election TO pc
held in Novebmer, 1910, an amendment to the
constitution exempting from taxation for
fifteen years from the date of full cash
payment Of their capital stock domestic
commerce, and liking the Conditions of such
whereas, the City Of New Orleans is the
natural gateway OF tie MISSISSIPPI, ,b nanes
of that greatest and most virlle sectaon
of this republic; and
Whereas, the completion OF the Panama
Canal will give enormous stimulus to
trade and commerce between the Mlssis-
sippi Valley and Orient and the west coast
Of South America and OF our own country;
Whereas, the people Of the Mississippi i
prepared to take Immediate advantage OF
field which it opens be taken possession of
by the maritime rivals of this country;
domicied in New Orleans are the only
and the absolutely necessary means
whereby trade and commerce between the
Mississippi Valley and the countries Dor
dering on the Pacific Ocean may be pro-
noted and conserved for our own country;
and
Whereas, the State proposes to tax her: her.
self to promote Q great world exposition
at New Orleans to celebrate the completion
Of the Panama Canal. and it is the States
duty to encourage and promote the organ
ization of such great steamship companies
Section tia anu 4. 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 8, 1910, the following
mitted to the electors Of the State, towit
Steamship companies organized as here.
matter set forth, together with their capital
stock and all their property, corporsal ana
and licenses. State, Parish, teyee and Mum,
cipal,. both general and special, exclusiye OF
wharfage, shed or leves dues f9r 1 Gaas.
tary of State proof that their authorized
capital stock has been paid in full in cash
No such steamship company shall have tbs
benefit of this constitutional provision except
upon the following conditions,
First-That such company shall have been
% ' e.:b 1tba twa
from January i, 1911.
Second-That such company shsll be domi-
ciled in the City of New Orleans, or In some
Third-That such company shall have .
capital stock of at least three million dollars
payable only in cash;
charter Of the company that no corporation,
or firm, or individual shall own or control
either directly or indirectly. more than one
twentieth Of the capital stock OF ths COM s
voting trusts between the stockholders to
control the corporation shall be absolutely
null and void and NO stock held in any such
trvVR< Aho
any corporate election or meeting
Fifth-That the capital stock OF each CON.
pany shall be open to public SUBSCRIPTION
newspapers for at least three months before
the books are closed, and if ever-subscribed
shall be apportioned among the subscribers;
company shall be common carriers on every
voyage unless the whole capacity of the ship
shall be chartered for particular voyage,
It shall be lawful for companies SO organi;
by the laws Of the State to incorporate into
their charters all or any OF the following
Frrst-To build, charter or purchase YES
sells. ...
seeond-To insure goods, wares and mer:
FIRE and perils. Of the sea.
.Third-To build, own. rent and operate
shpyards docks PIERS "a .ssr and
Fourth-To trade with foreign countries,
including the foreign possessions of the
United States: by exporting cargo carried rnrt
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 s
own cargo to the, exclusion OF cargo offered
for such voyage by the general public and an! d
shall have We preference on ali voyages for
which it Is offered.
Fifth-To authorize corporations, foreign
and domestic, to subscribe to and own shares
of the limitation above provided. =,
No leased property or chartered aart ship, shall
or operated between ports of the United
States other than Louisisns ports. and
possessions of the United States. be wishin
the exemption hsrein, granted One such
voyage in any year shall subject the the vessel
The proof above required to be fled with
the Secretary, of State that the authorized
capital stock has been paid in cash shall be
rotary Of the company to. that effect, accom-
panied by verified trial balance Of the
company's. books.
the POWER Of eminent domain for the purpose
of acquiring land on which to erect . plant
to build and repair vessels;
Section =. BE III 1urlner enacted, otc.,
That on the official ballot to be used ct said
election shall be placed the words:
"For the amendment exempting domestic
steamship companies from all taxation for
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 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 Representatives
Approved: July 7, 1910.
]. Y. SANDERS,
Governor Of the State of Louisiana
true copy:
JOHN I. MICHEL