Tensas gazette. [volume] (St. Joseph, La.) 1886-current, 1910-10-14
ACT No. 27e.
Senate Bill No. 1877.

ACT No. 27s.
Senate Bill No. 1877.
AN ACT
Submitting to the people of the State OF Lou
Hisna, at the congressional election to be
held in Novebmer, 1910, an amend0ent to the
fifteen years from the date of full cash
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 virile section
of this republic; and
Whereas, the completion OF the Panama
lanai wnii give an enormous h, s ,hs Mss;s
sippi Valley and Orient and the west coast
of South America and of our own country |;
Whereas, the people of the Mississippi
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
Whereas, great steamship companies
domiciled in New Orleans are the only
and the absolutely necessary means
whereby trade and commerce between the
Mississippi Valley and the countries bor-
dering on the Pacific Ocean may be pro-
NOTED and conserved for our own country;
and
Whereas. the State proposes to tax her
New orIesns to Celebrate the completion
of the Panama Canal, and it is the State S
duty to encourage and promote the organ
ization of such great steamship companies
in aid and in furtherance of this project.
Section l.. Be it enacted by the General
Assembly of the State of Louisiana, two
thirds Of all the members elected to each
branch thereof concurring, that at the cong
ressionsl 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
stock and all their property, corporal and
and licenses, State, Parish. Levee and NUM-
ciPal.. both general and special, exclusive Of
wharfage. shed or levee dues. for fifteen
years from the date of filing with the Secre-
tary of State proof that their authorized
capital stock has been paid in full in cash.
No such steamship company shall have the
upon the following conditions;
First--That such company shall have been
organized and the whole of its authorized
capital stock paid in cash within two years
Second-That such company shall be domi-
cied in the City Of New Orleans, or in some
other port Of this State.
Third-That such company shall have q
capital stock Of ut least three million dollars.
Fourth--fhat it shall be provided in the
or firm, individual shall own or control
either directly or indirectly. more than one
twentieth of the capital stock Of the com.
voting trusts between the stockholders to
control the corporation shall be absolutely
null aud void and no stock held in any such
pool voting trust shall ever be voted at
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, and il over-subscribed
shall be apportioned among the subscribers.
COMPANY shall be common COMMON carriers on ny every
voyage unless the whole capacity of the ship
shall be chartered for q particular voyage,
II 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
FIrst-To build. charter or purchase YES
sells.
Second-To insure goods. wares and mer.
fire and perils Of the sea.
Third-To build, own, rent and operate
shipyards. docks. piers whsrves and ware
Fourth-To trade with foreign countries,
including the foreign possessions of the
United States. by exporting cargo carried
thereto in their own vessels, and to import
from foreign countries including the foreign
possessions of the United States, in their
own vessels cargo for sale or exchange in
the United States, but no ship OF such
company shall be laden with the company's
own cargo to the exclusion of cargo offered
for such By the puS1 nns and
shall have preference all voyages for
which it is offered.
Fifth-To authorize corporations, foreign
and domestic, to subscribe to and own shares
of their capital stock. not however in excess
of the limitation above provided.
No leased property or chartered ship shall
L.
shall vessels of such corporations operated
in the coasting trade Of the United States,
or operated between ports of the United
foreign countries. not including the foreign
possessions of the United States, be within
the exemption herein granted. One such
voyage in in any year shall subject the vessel
The proof above required to be fled with
the Secretary of State that the authorized
capital stock has been paid in cash shall be
the Joint affidavit of the president and Sec
panied by verified trial balance of the
company's books.
Each of said corporations shall possess
the power Of eminent domain for the purpose
OF acquiring land on which to erect q plant
to build and repair vessels;
That on the official ballot to be used at said
election shall be placed the words:
For the amendment exempting domestic
steamship companies from all taxation for
Fifteen Years under certain conditions"
and the words:
Against the amendment exempting do
nestle steamship companies from all taxa
ton for Fifteen Years under certain condi-
TONS
And each elector shall indicate his vote
on the proposed amendment provided in
the general election laws Of this State
p. NJ. LAMBREMONT.
Lieutenant Governor and President of the
Senate.
IT. G. DUPRE,
Speaker of the House of Representatives.
Approved: July z, 1910.
J. Y. SANDERS
Governor of the State of Louisiana
A true copy:
JOHN T. MICHEL