The Bossier banner. [volume] (Bellevue, Bossier Parish, La.) 1859-1952, 1910-10-06

ment Of their capital stock domestic
steamship companies engaged in for
eign commerce, and fixing the Goa
ditions of such exemption.
Whereas, the City of New Orlea-
is the natural gateway of the ii
sissippi Valley, through which shou
pass the commerce Of that create
and most virile section of this r.
public; and
Whereas the completion of the
Panama Canal will give an enormous
stimulus to trade and commerce be
tween the Mississippi Valley ~
Orient and the west coast of Sou.
America and OF our own country;
and
Whereas the people of the Missis-
sippi Valley and of the whole SoGch
must be prepared to take immediate
advantage of this new channel OF
opens be taken possession OF by t.
maritime rivals Of this country: and
Whereas. great steamship com
panies doniiciled in New Orleans are
the only and the absolutely necessary
means whereby trade and commerce
between the Mississippi Valley and
the countries bordering on the Pacific
Ocean may be promoted and con
served for our own country; and
Whereas, the State proposes to tax
herself to promote a great world )
exposition at New Orleans to cs!a
brate the completion of the Panama
=
encourage and promote the orgau:1,
ton of such great steamship co:
panies in aid and in furtherance OF
this project
eral Assembly of the State Of Louisi-
ana, two-thirds of all the meE,sars
elected to each branch thereof concur
ring, that at the congressional election
to be held in this State on Tuesday.
November sth. 1910. the following
amendment to the Constitution shall
be submitted to the electors Of the
State, to-wit:
hereinafter set forth. together with
their capital stock and all their prom
erty, corporal and incorporeal, shall
be exempt from all taxes and licenses,
both general and special, exclusive Of
wharfage, shed or levee dues, fer fiji
teen years from the date of filing with
the Secretary 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
First-That such company shall have
| been organized and the whole Of it's
| authorized capital stock paid in cash
within two years from January 1st,
1911.
Second-That such company shall be
1omiciled in the City of New Orleans.
or in some other port of this State.
| Third-That such company shall
million dollars, payable only in cash.
| Fourth-That it shall be provided in
the charter of the company that no
corporation, or firm. or individual shall
| own or control either directly Or in
directly, more than onetwentieth OF
the capital stock of the company; and
that all pooling agreements and votin :,
trusts between the stockholders to cam
/ kv@I ttr,, Oh. H. tnvx
null and void and no stock held in
| any such pool or voting trust shall ever
be voted at any corporate election or
meeting.
company shall be open to public sub
scription by public advertisement j /
| New Orleans newspapers for at least
three months before the books are
| closed, and if over-subScribed shall be
| apportioned among the subscribers
| SiXth-That all vessels operated by
said company shall be common car
riers on every voyage unless the whole
for particular voyage or voyages
for Il particular purpose.
| It shall be lawful for companies so
organized in addition to the asr'"rs
now provided by the laws of the safe
10 incorporate into their charters all or
any of the following powers:
First-To build, charter or purchase
vessels.
|
merchandise carried in their own bet-
toms against fire and perils of the 50 l.
| Third-To build. own, rent and opcr-
ate shipyards, docks. piers. wharves
and warehouses for the transaction OF
| their business.
Fourth,-To trade with foreign coua-
tries. including the foreign possessions
Of the United States. by export:n.
cargo carried thereto in their own yes
sells. and to import from foreign coun-
tries, including the foreign posses
sions of the United States in their owr
vessels cargo for sale or exchange +
the United States. but no ship. of such
I company shall be laden with the
sompany's own cargo to the exclusion
Of cargo offered for such voyage
the general public, ana such car:
preference on all voyages for whic
1t is offered.
Fifth-to authorize corporation
foreign and domestic, to subscribe
and own shares of their capital stock
not. however, in excess of the limita.
ton above provided.
No leased property or chartered ship
shall be within the exemption herein
trade Of the United States, or oper-
nted between ports Of the United
States, other than Louisiana ports
foreign possessions of the Unite
rtates, be within the exemption bereir
tranted. One such voyage i'll any yea
shall subject the vessel making tn,
voyage to taxation for that year.
The proof above required to be file(
with the Secretary of State that tn,
authorized capital stock has been pait
in cash shall be the joint affidavit o
the president and secretary of the com
pany to that effect. accompanied by
verified trial balance of the company
books.
Each of said corporations shall pos
sess the power of eminent domain TO
the purpose of acquiring land on which
to erect plant to build and repai
vessels"
Section 2. Be it further enacted
ETC., That on the official ballot to b.
used at said election shall be places
For the amendment exempting do
nestle steamship companies from al
taxation for Fifteen Years under Ger
tain conditions"
and the words:
Against the amendment exemptin,
domestic steamship companies from
all taxation for Fifteen Years unde
certain conditions"
And each elector shall Indicate hi
vote on the proposed amendment a
provided in the general election law
of this state.
p NJ. LAMBREMONT,
Lieutenant Governor and President o
H. G. DuPRE.
Speaker of the House of Representa-
tives.
Approved: July Z, 1910.
]. Y. SANDERS,
Governor of the State of Louisiana
A true copy:
JOHN T. MICHEL,
Secretary of tSate
/, ACT No. 300.
House Bill No. $685.
} JOINT RESOLUTION
| A Joint Resolution nronnSinp a.