The St. Mary banner. (Franklin, Parish of St. Mary, La.) 1889-1931, 1910-09-17
ACT No. 279.
nate Bill. No. 13-
Az ACT


AN ACT
Submitting TO the people % the State q Lou
!>:ais III TILE congressional election 10 20
f-tI I'M Navebmar 1910. an amendment TO the
fifteen years from the date 81 Iuil cash
payment Of their capital stock domestic
steamship companies engaged II iorelgn
commerce. and hNlns the conditions o. sucn
exemption.
whereas. the City Of New Orleans is the
natural gateway Of the Mississippi alley
through which should pass the commerce
Of that greatest and most virie section
Of this republic; and
Whereas the completion OF the Panama
Canal will give an enormous stimulus 70
trade and commerce between the Mlssls-
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 10 take immediate advantage OF
This new channel Of trade, lest ~ vass
field which ii opens be taken possession OF
BY the maritime rivals 81 this country
domiciled in New Orleans are the only
and the absolutely necessary means
whereby trade and commerce between the
Mississippi Valley and the countries Dor
derlng on the Pacific Ocean may be pro-
NOTED and conserved for our own country;
and
Whereas. the State proposes to tax her
self 10 promote great worlds exposition
1T 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
in aid and in furtherance Of this project:
Section /. 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 10 be held in this State on
Tuesday, November 3, 1919, the following
amendment TO the Constitution shall be sub
mitted 10 the electors OF the State, to-wlt:
Steamship companies organized as here,
matter set forth, together with their capital
stock and all their property, corporeal and
incorporea shall be eAealpt from all taxes
and licenses, State. Parish. Leree and NUM-.
cipal, both general aud special. exclusive o.
years from the date Of filing with the Secre.
tarv Of State proof that their authorized
capital stock has been paid IL full IN cash
No such steamship company shall have the
benefit Of this constitutional provision except
upon the following conditions:
First-Th such company SHAH have been
organized and the whole OF Its authorized
capital stock paid in cash within two years
from January ]. 1911.
second-Thst such company shall be domi.
other port 81 this State.
Third That such company shall have
capital stock Of at least thres million dollars.
PAYABLE only in cash.
Fourth That il shall be provided in the
charter OF the company that no corporation,
Or lirm Or indIvidnsl shall own Or r.. control
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 ard no stock held III any such
pool voting trust Shall ever bs voted at
any corporate election meeting
Fifth That the capital stock Of each COM
pany shall BE- open TO pubic subscription
by public advertiser in New Orleans
newspapers for at least three month, before
the books are closed and if subscribed
shall be appDrtioEei among the subscribers.
Sixth That All vessels operated BY said
voyage unless the whole capacity Of the ship
shall be chartered for particular voyage,
ior particular purpose
1t shall be lawful for companies 50 organi-
zed in addition TO the powers provided
by The iaws Of the state to incorporate into
their charters oil or any OF the following
powers:
First-Te build, charter or purchase ves-
sells
second-To insure goods. wares and mer.
chandise carried in their own bottoms against
fire and perils Of the sea.
Third-To build. own. rent and operate
shipyards, docks. piers; wharves and ware
Fourth-To trade with foreign countries,
including the foreign possessions Of the
United States. by exporting cargo carried
thereto in their 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's
own cargo 10 the. exclusion OF cargo offered
for 'u cargo s BY M sns
shall have preference all voyages for
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.
10 leased property or chartered ship shall
shall vessels Of such corporations operated
in the coasting trade Of the United States
or operated between ports of the United
hQn J4pni sis W. arA
foreign countries not including the foreign
possessions of the nited 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 |
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
company's books.
Each of said corporations shall possess |
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 ion shall sha be placed the words
steamship companies from ali taxation for
Fifteen Years under certain conditions
and the words.
Against the amendment exemptinc do.
mestic steamship companies from all taxa.
tion for Fifteen Years under certain condi.
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. DTPRE.
Speaker OF the House Of Representatives.
Approved: July 7. 1910.
J. y. SANDERS
Governor of the State Of Louisiana
A true copy:
JOHN T. MICHEL,