St. Landry clarion. (Opelousas, La.) 1890-1921, 1910-09-03
ACT No. 27e.
Senate Bill Nc. 1877.

Bill NO. Isl.
AN ACT
Submitting to the people Of the State Of Lou
isiana, at the congressional election TO Pc
held ia Noyebmer, 1910, an amendment TO the
constitution exempt1pg from taxation for
6fteen yea5s from the date OF full cash
steamship companies engaged in foreign
commerce, and Axtng the conditions of such
exemption.
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, tbs conpletion OF the Panama
Canal Will give IN enormous s51mnius to
trade and mmer between the Miss1s-
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 whale 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
Whereas, great steamship companies
; domioiIed in New Orleans are the only
and the absolutely necessary means
whereby trade and between the
during on the Pacific Ocean may be pro
noted and conserved for our own country;
Whereas, the State proposes to tax her.
9C&A eO R3QAA0Ao = 6E0& 80 ICAR0SAsApA
at New Orleans to celebrate the completion
of the Panama Canal, and it is the States
duty to encourage and promote the organ
izatien 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
thereof concufring, that at the cong
rsssfonal election to be held In this State on
Tuesday, November s, 1910, the following
amendments to the Constitution shall be sub
rn$f2ad IA the p1pefnve nF tho Gfata fd-YvIf
Steamship companies organized aB here
set forth, together with their capital
stock and all their property, corporeal and
and licenses, State, Perish, Levee and NUM-
cipal, both general and special, exclusive OF
wharfage, shed on leYee dues, for fifteen
tsry 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 conditions:
First-That such company shall have been
organized and the whole OF is authorized
capital stock paid Il cash within two years
Second-That such company shall be domi-
ciled in the City Of New Orleans, or in some
other port OF this State.
Third-That such company shall have a
capital stock OF at least thrse million dollars,
payable emily in cash:
Fourth-Fhat it shsIl be provided in the
of the company that no corporation,
OF arm, or individual shall own or control
either directly or indirectly. more than one
twentieth of the capital stock Of tbs com
and that all pooling agreements and
trusts between this stockholders to-
the corporation shall be absolutely
null and void and no stock held in any such
pool or voting trust shall ever be voted at
any cooperate election or meeting.
Rifth-That the capital stock of each come
pany shaIl be open to public subscription
By pubic advertisement in New Orleans
for at least three month"; before
the books are olosad, and II oxer-subscribed
shall be apportiened among the subscribers.
Sixth-That sll vessels operated by said
company shall be common carriers on every
voyage unless the whole capacity Of the ship
shalI be chartered for 8 particular voyage,
for q particular purpose.
It shall be lawful for companies so organi-
1ed IN addition TO the powers now provided
by the laws of the State to incorporate into
their charters all or any Of the following
W
Bels.