Lower coast gazette., 1910-10-08

Submitting to the people OF the State
of Louisiana, at the congressional
election to be hell in November, 1910.
an amendment to the Constitution
eXempting from taxation for fifteen
years from the date of full cash pay
ment Of their capital stock domestic
steamship companies engaged in for
eign commerce. and fixing the con
ditions of such exemption.
Whereas, the City of New Orleans
is the natural gateway Of the Mis-
sissippi 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 enOr-
nous stimulus to trade and com
MERGE between the Mississippi VAL
ley and Orient and the west coast
Of South America and Of OUr own
country; and
Whereas. the people of the Missis-
sippi Valley and the whole 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; and
Whereas. great steamship com
panies domiciIed in New Orleans are
the only and the absolutely necessary
g whereby trade and commerce
between the Mississippi Valley and
the countries bordering on the PACT
fic Ocean may be promoted and CON
served for our own country; and
Whereas, the State proposes to tax
herself to promote a great world S
exposition at New Orleans to cele-
brate the completion Of the Panama
Canal, and it is the States duty TO
encourage and promote the Or%aniza.
ton of such great steamship com
panies in aid and in furtherance Of
this project. -, ,r..
Section /. Be it enacted'by the Gen
aral Assembly of the'State of LouiSl-
ana, two-thirdS Of all the members
to each branch thereof concur
ring that at the congressional election
10 be held in this State on Tuesday
Sth. 1910, the following
amendment to the Consultation Shall
be submitted to the electtrs or'the
State, K, wit; =: -
~:Steamship companies organized as
.1ereinaftey. set, forth, together with
heir capital stock and all their prop
,rty, corporeal and i]ncOrporeal, shall
}e exempt from all taxes and licenses,
State, Parish, Leyee and Municipal.
Doth general and special exclusive of
wharfage, shed or levee dues, for fiji
en- years from the date of filing with
he Secretary Of State proof that their
authorized capital stock has been paid
n full in cash.
No such steamship company shall
nave the benefit Of this constitutional
provision except upon the following
conditions:
First-That such company shall have
1een organized and the whole of its
capital stock paid in cash
two years from January Isl,
1911.
Seoond-That such company shall be
tomiciled in the City of New Orleans,
" in some other port of this State,
Third-That such company shall
rave a capital stock of at least three
dollars. payable only in cash.
Fourth-That it shall be provided in
he charter of the company that no
corporation. or firm, or individual shall
,wn or control, either directly or in
lirectly. more than O~ne-tWentieth Of
he capital stock of the company: and
hat all pooling agreements and voting
trusts between the stockholders TO con
.rol the corporation shall be absolutely
lull and void and no stock held in
my such pool or voting trust shall ever