St. Tammany farmer. [volume] (Covington, La.) 1874-current, 1910-11-05
ACT No. 279.
Senate Bill No. 1877.
ANY mn

All NO. ZI0.
Senate Bill No. 1877. |
AN ACT
Submitting to the people of the State Of Lou
isiana, at the congressional election to be
held in Novebmer 1910 an amendment to tae
constitution exempting from taxation for
payment of their capital stock domestic
steamship companies engaged in foreign
commerce. and fixing the conditions Of such
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 virlle section
of this republic; and
Whereas, the completion of the Panama
Canal will give an enormous stimulus to
trade and commerce between the Missis-
sippi Valley and Orient and the west coast
of South America and of our own country;
and
Valley and Of 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
N s. o stssmsh Dr, s sss oa,
whereby trade and commerce between the
Mississippi Valley and the countries Dor
dering on the Pacific Ocean may be pro-
noted and conserved for our own country;
and
Whereas, tho State proposes to tax her
at 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 furtherance OF this project;
Section /. Be it enacted by the General
Assembly Of the State of Louisiana, two,
branch thereof consurring. that at the cong
ressional election to be held in this State on
Tuesday, November 8, 1910, the following
amendment to the Constitution shall be sub
mitted to the electors Of the State, ,to-wit
Steamship companies organized as here.
matter set forth. together with their capital
i ineorpo a shall b. exempt from ali taxes
and licenses, State, Parish, Levee and NUM-.
cpa both general and special ex fe sfe.s o,
years from the date OF fling with the secre.
tary of State proof that their authorised
capital stock has been paid in fun in cash.
bsnsat Of this constitutional provision except
| upon the following conditions: ,,
First--Tha such company shall have neea
organized and the whole Of its authorized aa
Second-That such company shall be domi-
e csd Dt the Of cH III, Of st nss some
Third-That such company shall a aa1,.
capital stock Of at least three million dollars
pAf Fourth cf It shall be provided in the
charter of the company that no corporation,
| or firm, or individual shall own or control
went tWentieth Of the capital stock Of the com;
pany; and that all pooling agreements ana
voting trusts between the Stockholders to
control the corporation shall be absolutely
null and void and no stock held in any such
! pool or voting trust shall ever be voted 81
I any corporate election or meeting.
| Fifth-That the capital stock Of each COM
pany shall be open to public subscription
| by public advertisement In New orleans
| newspapers for at least three months before
the books are closed ana II G
Sixth-ThAt all vessels operated by SAID
company shall be common carriers on every e;'
shall be chartered for particular voyage
| It shall be lawful for companies so organl
bed thu sas OF to St. to a9
their charters all or any Of the following
powers:
Second-To insure goods, wares and mer
chandise carried in their own bottoms against
FIRE and psrlsh Of the sea- rent and oner.t,
shipyards, docks, piers, wharves and ware
/ houses for the transaction OF their business
trade sn1e with ioreEn of th
United States, by exporting cargo carried
thereto in their own vessels, and to impor
foreign mt nad saafes hs in the
own vessels cargo for sale or exchange il
the United States. but no ship Of such !
company shall BE- laden with the company ny.,
s sach '' Cargo ors ~
shall have preference on ali voyages 10
.. Fifth-To authorize corporations. foreigl
and domestic, to subscribe to and own share
Of their capita! stock not h howsvsr IN e1cs'
No leased property or chartered ship, shal
: be within the exemption herein granted, no
shall vessels Of such Iss n..d sstss
States, other than Louisiana ports, an
not nnS sIas. the be %th5
voyage in any year shall subject the vesss
making the voyage to taxation for that that yea
, the Secretary Of State that the authorize
l capital stock has been paid in cash shall b
: the joint affidavit Of the president and sex
E psnsd q by the vsasd t. s q
company's books.
: Each Of said. corporations. shall posses
the power Of eminent domain for the purpos
of acquiring land on which to erect . plan
t " Section .. BE it further enacted. etc
election shall be placed the words:
:: 'For the amendment exempting domesti
l steamship companies from ali taxation fo
Z Fifteen Years under certain conditions
9 and the words:
I against the amendment exempting, d.
. nestle steamship companies from all tax,
. ton for Fifteen Years under certain cond
. TONS
And each elector shall indicate his vol
. on the proposed amendment as provided
! the general election laws of this State.
y P NJ LAMBREMONT,
. Lieutenant Governor and President Of til
| Senate.
H. G.. DUPRE,
J. Speaker Of the House of Representative
Approved: July 7, 1910.
Q J. Y. SANDERS,
Governor of the State Of Louis!an
true copy:
JOHN T. MICHEL,