Tensas gazette. [volume] (St. Joseph, La.) 1886-current, 1910-10-28
ACT No. 279.
Senate Bill No. 137.
AN ACT

AN All
Submitting to the people of the State of Lou.
isiana, at the congressional election to be
held in Novebmer, 1910. an amendment TO the
constitution exempting from taxation 1or
fifteen years from the date OF full cash
payment of their capital stock domestic
steamship companies engaged In forelgn
commerce. and fixing the conditions OF such
exemption.
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
Canal will give an enormous stimulus 10
trade and commerce between the Missis
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 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 Oh
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;
Whereas. the State proposes to tax her
self to promote a great worlds exposition
at New Orleans to celebrate the completion
of the Panama Canal and it is the State
duty to encourage and promote the organ
ization of such great steamship companies
in aid and in furtheranee Of this project
Section 1. 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
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
stock and all their property corporeal and
incorporeal, shall be exempt from all taxes
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
benefit of this constitutional provision except
up tine following conditions:
First-That such company shall have been
organized and the whole Of its authorized
capital stock paid in cash within two years
from January 1, 1911.
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 three million dollars,
payable only in cash.
Fnurth--That it shall be provided in the
charter of the company that no corporation
either directly or indirectly, more than one
twentieth of the capital stock OF the com,
pany; and that all pooling agreements and
voting trusts between the stockholders to
control the corporation shall be absolutely
null and v lid and no stock held in any such
pool or voting trust shall ever be voted at
any 'rp ate 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 IN ,nths before
he oks are closed, and il versubscribed
shall be appprtioned among the subscribers
Sixth-fhat all vessels operated by said
hall hA n
voyage unless the whole capacity of the ship
shall be chartered for q particular voyage,
for particular purpose.
1t shall be lawful for companies so organi-
zed in addition to the powers now provided
by the laws Of the State to incorporate into
their charters all or any of the following
powers:
Ffrst-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
shipvards. docks. piers. wharves 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 imp2r,
possessions of the United States, in their
| own vessels cargo for sale or exchange in
company shall be laden with the company $
own cargo to the exclusion of cargo offered
! for such voyage by the general public. and
such cargo offered by the general public
shall have preference on all voyages Tor
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
be within the exemption herein granted, nor
in the coasting trade of the United States
operated between ports OF the United
States, other than Louisiana ports. and
foreign countries, not including the foreign
possessions of the United States, be within
the exemption herein granted. One such
voyage in any year shall subject the vessel
making the voyage to taxation for that year
The proof above required to be filed 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
companys books.
the power of eminent domain for the purpos,
OF acquiring land on which to erect a PLAN
to build and repair vessels;
That on the official ballot to be used at sal.
election shall be placed the words:
For. the amendment exempting domestic
steamship companies from all taxation fol
Fifteen Years under certain conditions
and the words:
Against the amendment exempting do
nestle steamship companies from all taxa
ZION Ipr rlIteen Tears uhuer certain cOnoi
TONS
And each elector shall indicate his vot,
on the proposed amendment provided IL
the general election laws Of this State.
p. NJ. LAMBREMONT.
Lieutenant Governor and President Of tn,
| Senate.
| H. G. DUPRE
Speaker Of the House Of Representative
Approved: July z. 1910.
| j. Y. SANDERS,
| Governor of the State Of Louisiana
| 4 true copy:
| JOHN T. MICHEL.
| Secretary Of State