St. Landry clarion. (Opelousas, La.) 1890-1921, 1910-10-22
ACT No. gre.
ssnste Bill No. 1877.
AN AFYr

8@0&Eg Dill NO. 49, &=
AN ACT
to the nsopls of the Stats OF Lou
tsiana, at the congregational election 10 pc
held i'd Goyebner, 1910, IN amendments to the
constitution sxemping from taxation for
Aftssn years from the date OF full cash
payment % 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 gatsvsy OF the Mississippi Valley
through which should pass the
ct that gresseSs ana most yartie section
whereas. ths completion of the Panama
CANAL viii give an eRormous stimulus 70
gzade and % between the Mlssts,
aapDi Valley sud Orient and the west coast
Whereas the people Of the Mississippi
Valley and OF she whels 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
and the absolutely necessary means
TThsssby tFad 9s,a and .o o9nn eha ooB 9esTesn bore sae
dsring on the Pacific Ocean may be pro-
Noted and conserved for our own country
Whereas, the State proposes to tax her,
self to promote q great world exposition
al 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 surtherance of this project;
Section l.. Be IL enacted by the General
Assembly Of the State of Louisiana. two
thirds Of all the members elected to each
branch thereof ~concurring, that pit the cong
rsssional election to be held in this State on
amendment to the Constitution shall be sub.
gnttAed to the electors OF the State. to+Wit:
steamship companies organized as here
matter set forth, together with their capital
gbaek and all their property, corporal and
ineorporsaL, shall be exempt from al taxes
and licenses, State, Parish, Levea and MUM.
capai, both general and special, exclusive OF
years from tbs date Of fling with the Score.
2Aey OF State proof hat their authorized
capital stock has been paid in full in cash.
No such steamship company shall have the
beneht Of this constitutiqaai provision except
upon the following conditions:
First-That such . shall have been
erganizad and the whole Of !ts authorized
capital stock psid in cash wtshin two years
seaend-That suah company shall be domi-
eiled in the City Of New Orleans, or IN soms
other port of this Stats. -.
Tasyd-Tbat such company ghaN haye 3
capital stock Of as least three militia dollars
payable only in cash
charter OF the company thab no corporation,
OF Arm, or individual shail or control
stthaK directly or fudfrsetlys noxe snaa Ons-
twentieth of the capital stock Of tbs som.
pany; and that Al pooling s~gxeeInsaas and
voting trusts between the stockholders to
4eenaxol the corporation shan be absolutely
nall and void and no stock held in amp such
pool OF voting trust sh8lI ever be voted IS
any corporate election or meeting.
Ffth-That the capital stock of zach com
pany shall be open to public subscription
By public advertisement In New Orleans
newspapers for az least three moathg before
the books are closed, and il over-snbacEibed
shall be appoxtionsd among the subaerthaxg:
Sfxth-Thst al vessels operated by said
company shall be common carriers Oh syeTy
voyage unlasa the whole eapacity OF the ship
shall be chartered for q particular voyage,
for u particular purpose.
II shall be lawful for companies SO orgsni.
Eed in addition to the powers now provided
by the Iawa of the State to incorporate into
their charters all or any Of the following
Mrst-To build, charter or purchase yes
second-To insure goods, wares and mar