Tensas gazette. [volume] (St. Joseph, La.) 1886-current, 1910-11-18
ACT No. 279.
Senate Bill No. 1877.
AN ANT


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 the
constitution exempting from taxation LOT
payment of their capital stock domestic
steamship companies engaged in foreign
commerce. and fixing the conditions of such
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 virlle 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 COST
of South America and of our own country;
and
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;
and
Whereas. great steamship companies
domiciled in New Orleans are the only
and the absolutely necessary means
whereby trade and commerce between the
Mississippi Valley and the countries bor-
dering on the Pacific Ocean may be pro-
| NOTED and conserved for our own country;
and
! Whereas, the State proposes to tax her
d
] 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
Tuesday. November 8, 1910, the following
amendment to the Constitution shall be sub
m ed n IN n
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 and the whole Of its authorized
from January 1, 1911.
! Second-That such company shall be domi-
cied in the City Of New Orleans, or in some
Third-That such company shall have a
capital stock of at least three million dollars.
! payable only in cash. :, A..
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 the com:
pany; and that all pooling agreements and
voting trusts between the stockholders to
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
any corporate election or meeting.
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 il oversubscribed
-L.n ha xhc,x ,hnrC
Sixth-Thst all vessels operated by said
/ company shall be common carriers on every
voyage unless the whole capacity OF the ship
shall be chartered for 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
/ powers:
First-To build, charter or purchase YES.
sells.
Second-To insure goods, wares and Iaer.
chandise carried in their own bottoms against
fire aud 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.
United States, by Exporting cargo carried
thereto in their own vessels. and to import
from foreign countries. including the foreign
own vessels cargo for sale or exchange in
the United States but no ship of such a
company shall be laden with the company 8
own cargo to the exclusion of cargo offered
/ such cargo offered by the general public
shall have preference on all voyages for
which 1t 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.
be within the exemption herein granted, nor
shall vessels of such corporations operated
in the coating trade Of the United States,
States, other than Louisiana ports, and
foreign countries. not including the foreign
possessions of the United States. be within
voyage in any year shall subject the vessel
making the voyage to taxation for that year
The proof above required to be filed with
! the Secretary OF State that the authorized
capital stock has been paid in cash shall be
the joint affidavit Of the president and sec
rotary. of the company to that effect, accom-.
panied by verified trial balance Of the
Each Of said corporations shall posses,
the power Of eminent domain for the purpose
OF acquiring land on which to erect . plant
to build and repair vessels.
! Section 2. Be it further enacted, etc,
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 fol-
Fifteen Years under certain conditions
Against the amendment exempting DO
nestle steamship companies from all taxa
TONS
And each elecfor 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 thu
| 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,
| Cocrafarv NJ Cfofa