The Colfax chronicle. [volume] (Colfax, Grant Parish, La.) 1877-1981, 1910-10-22
Aor No. 27s.

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 exyemptins from tsxstSn for
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 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
OF South America and Of our own country
Whereas, the people Of the Mississippi
Valley and Of the whole South must be
this new channel Of trade, lest the vast
field which it opens be taken possession of
by the maritime rivals Of this country |;
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 Dor
dering on the Pacific Ocean may be pro-
NOTED and conserved for our own country;
and -
Whereas. the State proposes to tax her.
self to promote . great worlds exposition
at New Orleans TO celebrate the Completion
OF the Panai Canal and it is the State 8
DUTY to encourage and promote the organ
in aid and in furtherance Of this project
Section l.. Be u enacted by the General
ASS. Assembly Of the State of Louisiana. two
branch thereof concurring that at the cong
ressional election to be held in this State OF,
rnesdlay November 8, 1910. the following
amendment to the Constitution shall be sub
mlffed to tho oIocforr nj h.
steamship companies organized as here
matter set forth. together with their capital
stock and all their property. corporal and
and licenses, State, Parish. Levee and NUM-
ripal, both general and special, exclusive Of
Wharfage. shed or levee dues, for fifteen
years from the date of fling with the Secre.
AIRY OF State proof that their authorized
;apltal stock has been paid in full in cash.
No sucn steamship company shall have the
oeneht OF this constitutional provision except
First-T That such company shall have been
organized and the whole Of its authorized
:apini stock paid in cash within two years
rom January 1, 1911.
Second-That such company shall be domi
lied in the City of New Orleans. or in some
'ther port Of this State.
Third-That such company shall have q
'apital stock Of at least three million dollars.
'syabie onlysin cash:
Fourth That il shall be provided In the
harter OF the company that no corporation,
= - II VI tAaifiundl oudh VNn UT CunLFOl
ither directly or indirectly. more than one
ventieth of the capital stock of the COM
ANY: and that all pooling agreements and
ontrol the corporation shall be absolutely
'ull and void and no stock held in any xuch
'ool or voting trust shall ever BE- voted 81
ny corporate election OF meeting
Fifth That the capital stock OF each SOM
ANY shall be open to public snbscrjptiop
" public advertisement in New Orlesns
newspapers for at least three months before
he books are closed, and il over-subscribod
hall be spportioned among the subscribers.
Sixth-Thst all vessels operated By said
ompany shall be common carriers on every
oyage unIess the whole capacity Of the shin
hall be chartered for . particular voysre.
or particular purpose.
Il shall be lawful for companies 50 orrani.
ed In addition to the powers now provided
y the iaws OF the State to incorporate into
heir charters al or any Of the following
Frss-ro build. charter or pureAass YES.
sseond--To insure soods. wares aas nsr.