St. Tammany farmer. [volume] (Covington, La.) 1874-current, 1910-09-17
ACT No. 2z9.
Senate Bill No. 1877.

ACT No. 27s.
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, an amendment to ths
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 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 viii give an enormous stimulus to
sippi Valley and Orient and the west coast
of South America and of our own country;
and
Whereas, the people of the Mississippi
Valley and of the whole South must be
prepared to take immediate advantage of
this channel of trade, lest the vast
field which it opens be taken possession of
by the maritime rivals of this country;
and
domieiled in New Orleans are the only
whereby trade and commerce between the
Mississippi Valley and the countries Dor
dering the Pacific Ocean may be pro-
NOTED and conserved for cur 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 s
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
amendment to the Constitution shall be sub
mitted to the electors of the State, towit
steamship companies organized as here
matter set forth, together with their capital
incorporeal, shall be exempt from all taxes
and licenses, State, Parish. Levee and NUM-
cipal,. both general and special, exclusive Of
years from the date of filing with the Secre-
tary 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 conditions:
First--That such company shall have been
ORGANIZED oa and the whole Of Its authorized
from January 1. 1911.
Second-That such company shall be domi
ciled in the City of New Orleans, or in some
other port Of this State.
capital stock of at least three million dollars,
Fourth..Ihat it shall be provided in the
or frm, or individual shall own or control
either directly or indirectly, more than one
twentieth of the capital stock OF the com.
and that all pooling and
control the corporation shall be absolutely
null and void and no stock held in any such
pool Or voting trust shall ever be voted at
Fifth-That the capital stock Of each com
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
shall be common carriers on svery
voyage unless the whole capacity of the ship
shall be chartered for a particular voyage,
for particular purpose.
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
powers:
Flrst-To build, charter or purchase YES.
second-To insure goods, wares and mer-
ehandise carried in their own bottoms against
Ore and perils Of the sea.
Third-To build, own, rent and operate
shipyards, docks, piers, wharves and ware
houses for the transaction of their business.
Fourth-To trade with foreign countries,
including the foreign possessions of the
United States, by exporting cargo carried
thereto in their own vessels, and to import
from foreign countries, including the foreign
of the United States, in their
the United States, but no ship of such
company shall be laden with the company's
own cargo to the, exclusion of cargo offered
s En- pubic
which it is offered
Fifth-To authorize corporations, foreign
and domestic, to subscribe to and own shares
Of their capital stock, not however in excess
Of the limitation above provided.
No Leased property or chartered ship shall
IN the coasting trade Of the United States,
Or operated between ports of the United
States, other than Loui is. ana ports; and
possessions Of the United States. be within
the exemption herein granted. One such
voyage in any year shall subject the vessel
% TO 70 6s
The Secretary, OF State that the authorized
capital stock has been paid in cash shall be
he joint affidavit of the president and sec
By ns ve9d to TRIAL ina" balance 81 Il.
books.
Each Of said corporations shall possess
# acquiring land on which to erect plant
20 build and repair vessels.
', Section 2. Be, it further enacted, etc,
That. on the official ballot to be used at said
'ISClloA US pidCcu tHc WOlHS
''For the amendment exempting domestic
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
IN the proposed amendment as provided in
he general election laws of this State.
P. NJ. LAMBREMONT,
Ia
Senate.
H G.. DUPRE,
Speaker Of the House of Representatives.
Approved: July 7, 1910.
J. Y. SANDERS,
Governor of the State of Louisiana.
true COPY:
JOHN +. MICHEL,
Secretary of State.