The Comrade. (Winnfield, La.) 1890-1914, 1910-10-28
ACT No. 27e.
Senate Bill No. 1877.

O. AAN lAS1
Submitting to the people Of the State Of Lou
isiaaa, at the congressional election to be
held in Novebmer, 1910, an amendment to the
constitution cxempting from taxation for
fifteen years from the date OF full cash
payment of their capital stock domestic
steamship companies engaged in foreign
commerce. and liking the conditions Of such
exemption.
Whereas, the City of New Orleans is the
through which should pass the commerce
!, o! that greatest and most virile 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 coast
CT South America and Of our own country;
Whereas, the people Of the Mississippi
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
whereby trade and commerce between the
mississippi Valley and the countries Dor.
dering on the Pacific Ocean may he pro.
NOTED and conserved for our own country;
and
Whereas, the State proposes to tax her
self to promote a great world exposition
at New Orleans to celebrate the completion
Of the Pana!, q Canal, and it is the States
duty 10 encourage and promote the organ.
ization OF such great steamship companies
in aid and in furtherance OF this project.
f. Section l.. Be it enacted by the General
thirds Of all the members elected to each
branch thereof c0ncurring, TINT 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.
nlt t to the electors Of the State, .to.wit:
matter set forth, together with their capita!
stock and oil their property, corporal and
ncorporeal, shall be exempt from all taxes
and licenses, State, Parish, Lcvee and Mum.
:lpal, both general and special exclusive Of
years from the date Of flins With the se sanA
AIRY 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
lpon the following conditions @
organized and the whole Of it's authorized
capital stock paid In cash within two years
rom January l, 1911.
Second That such company shall be dom.
sled in the City of New orleans, or in some
)the- port OF this State.
Third-That such company shall have
capital stock Of at least three million dollars.
payable only in cash.
Fourth That 1t shall be provided in the
'harter Of the company that no corporation,
y firm. or individual shall own or control
either directly or indirectly r.ore tkan8one-
:Wentieth Of the capital stock OF the com.
'any; and that all pooling agreements and
'oting trusts between the Stockholders to
control the corporation shall be absolutely
null and void and no stock held in any such
'ool or voting trust shall ever b. voted at
my corporate election or meeting
Fifth That the capital stock Of each com.
'apy shall be open to public subscription
~ public advertisement In New Orleans
newspapers for ut least three months before
ne, books are closed, and il over Sill ascribed
hall be apportioned among the subscribers.
Sixth That all vessels operated b. said
company shall be common carriers on e;cry
'nyage unless the w:tplc capacity Of The ship
'siail be- chartered for a particular voyage.
or particular purpose - 81, 9 S s.
III shal! be lawful for companies 80 prsapi
ed in addition to the pbwE;s nav y,r0vitIe,{
y the laws CT the State to incorporate q in.o
a l1ea.r charters all or any Of the following
cissS SS. - 4, : s ga
second-To iRsurc goods, wares and ne &!
.