The Bossier banner. [volume] (Bellevue, Bossier Parish, La.) 1859-1952, 1910-09-29

fnent Of their capital stock domestic
steamship companies engaged IN for
eign commerce. and fixing the coa-
ditions Of such exemption.
Whereas. the City of New Orlen""
is the natural gateway OF the MI
sissippi Valley, through which shou
pass the commerce of that Ere2tci
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 SoG.a
America and of our own country;
whereas, the people of the Mis5is-
sippi Valley and of the whole South
must be prepared to take immediate
advantage OF this new channel OF
trade. lest the vast field which !.
maritime rivals Of this country; and
Whereas, great steamship COM
panies domiciled 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 celo-
brate the completion of the Panama
Canal and 1t is the States duty to
encourage and promote the orSani-.-
ton Of such great steamship con
panies in aid and in furtherance ct
this project.
Section 1. Be it enacted by the Cen
eral Assembly of the State OF Louisi-
ana, two-thirds of all the members
elected to each branch thereof concur
ring, that at the congressional election
to be held in this State on Tuesday
hn IN n i,NC
amendment to the Constitution shall
be submitted to the electors of the
State, to-wit:
steamship companies organized as
hereinafter set forth. together with
their capital stock and all their prop
erty, corporal and incorporeal, shall
be exempt from all taxes and licenses.
State Parish. Levee and Municipal.
wharfage shed or levee dues. for 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
conditions:
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 list.
1911.
SecOnd-Ihat Sucn company Snlll Dc
iomiciled in the City Of New Orleans,
Or in some other port of this State.
Third-That such company shall
have capital stock OF at least three
million dollars, payable only in cash.
Fourth-That it shall be provided in
the charter of the company that TO
corporation, or firm. or individual shall
own or control. either directly or in
| directly. more than one-twentieth OF
| the capital stock of the company: and
|
| trusts between the stockholders 70 can
troll 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 corporate election or
meeting.
Fifth-That the capital stock of each
company shall be open to public sub
scription by public advertisement
| New Orleans newspapers for at leas;
three months before the books are
closed. and if over-subscribed shall be
apportioned among the subscribers.
sixth-That all vessels operated b7
riers on every voyage unless the whole
capacity of the ship shall be chartered
for a particular voyage or voyages
for Il particular purpose.
1t shall be lawful for companies sc
organized in addition to the pcw"r:
now provided by the laws OF the STATE
to incorporate into their charters all OF
any of the following powers:
seeond-To insure goods, wares ~
merchandise carried in their own bot.
toms against fire and perils of the SET
ate shipyards, docks. piers, whargs!
and warehouses for the transaction o.
their business.
Fourth-To trade with foreign coua.
of the United States. by exportin-
cargo carried thereto in their own veg
sells. and to import from foreign coun
tries, ineludIng the foreig 1s1 posses
vessels cargo for sale or exchange i!
the United States. but no ship of sucl
= company shall be laden with tn
sompany's own cargo to the exclusiHi
the general public. and such carr
offered by the general public shall hay.
preference on all voyages for whic.
it is offered.
Fifth-to authorize corporations
foreign and domestic. to subscribe t
and own shares of their capital stock
not. however, in excess of the limita
lion above provided.
| No leased property or chartered shtl
shall be within the exemption hereiI
granted nor shall vessels OF such cor
porations operated in the coastin:
trade Of the United States or oper
States, other than Louisiana ports
and foreign countries. not including tn
foreign possessions of the Unite'
States. be within the exemption bereil
granted One such voyage In 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 PAL
In cash shall be the joint affidavit c
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 fo
the purpose Of acquiring land on whic
to erect. a plant to build and repai
vessels"
Section 2. Be it further enacte,
etc. That on the official ballot to b
the words:
For the amendment exempting dc
nestle steamship companies from a
taxation for Fifteen Years under Gel
tain conditions"
and the words:
Against the amendment exemptin
domestic steamship companies fro
all taxation for Fifteen Years undo
certain conditions"
And each elector shall indicate h
vote on the proposed amendment &
provided In the general election law
of this state.
Lieutenant Governor and President
the Senate.
H. G. DUPRE,
,, Speaker Of the House Of Represents
!; Approved: July Z, 1910.
j. Y. SANDERS,
Governor Of the State of Louisian
A true copy:
JOHN T. MICHEL,
Secretary of tSato
}. ACT No. 3O3
: House Bill No. 36S.
8 JOINT RESOLUTION
d A Joint Resolution proposing q
amendment to the Constitution
q the State of I.Auiaian aInendin