The Bossier banner. [volume] (Bellevue, Bossier Parish, La.) 1859-1952, 1910-09-22
mt OF their capital stock domestic

ment 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 Orleans
is the natural gateway of the Mis-
sissippi Valley, through which should
pass the commerce of that greattst
and most virile section of this re-
public; and
Whereas the completion of the
Panama Canal will give an enormous
stimulus to trade and commerce Inna,n be,
Orient and the west coast of South
America and of our own country;
and
whereas, the people Of the Missis-
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 l.
opens be taken possession OF by tlt
maritime rivals Of this country; aud
Whereas, great steamship COM
panies domiciled in New Orleans are
the only and the absolutely necessary
means whereby trade and commerce
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 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 organiza
ton of such great steamship con-
panies in aid and in furtherance CT
this project.
Section i. Be it enacted by the Cen
eral Assembly of the State OF Louisi-
elected to each branch thereof concur
ring, that at the congressional election
to be held in this State on Tuesday,
November sth; 1910, the foil following vi
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 prom
erty, corporal and incorporeal, shall
! be exempt from all taxes and licenses.
State, Parish, Levee and Municipal.
both general and special, exclusive OF
wharfage, shed or levee dues. fer 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:
been organized and the whole Of it's
| authorized capital stock paid in cash
within two years from January LIST,
1911.
Secondhand such company shall be
ioniciled 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.
Fourth-That it shall be provided il,
the charter of the company that no
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
that all pooling agreements and Eotin ;
trusts between the stockholders to 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
scriptiolf by public advertisement
New Orleans newspapers for at least
three months before the books are
closed. and if overs subscribed shall be
arportioned among the subscribers
Sixth-That all vessels operated by
said company shall be common car
riers on every voyage unless the Wholf
capacity of the ship shall be chart re
for a particular voyage or voyage:
for a particular purpose.
| 1t shall be lawful for companies ST
organized in addition to the PEER:
now provided by the laws of the SSat
to incorporate into their charters all ol
any of the following powers:
First-To build, charter or purchase
vessels.
second-To insure goods. wares ana
merchandise carried in their own bot
toms against fire and perils Of the S"t
Third-To build, own, rent and OBJ :"
ate shipyards docks, piers, wharve'
and warehouses for the transaction O
their business.
Fourtll-To trade with foreign coua
tries. including the foreign possession:
of the United States. by exportinE
cargo carried thereto in their own YES
sells. and to import from foreign coun
tries. including the foreign posses
sions of the United States. in their owl
vessels cargo for sale or exchange j:
the United States but no ship Of sue!
4 company shall be laden with tn
sompany's own cargo to the exclusion
Of cargo offered for such voyage b
; the general public. and such cars
offered by the general public shall hay
preference on all voyages for whic1
it is offered
Fifth-to authorize corporation
foreign and domestic. to subscribe I
and own shares of their capital stock
not. however. in excess OF the l1nl1ta
ton above provided.
No leased property or chartered shi1
shall be within the exemption hereil
granted. nor shall vessels Of such cor
I trade Of the United States, or oper
Etates. other than Louisiana ports
md foreign countries. not including tt
:. foreign possessions of the Unite
rtates, be within the exemption herei
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
authorized capital stock has been PAL
! In cash shall be the joint affidavit {
the president and secretary of the CON
: pany to that effect, accompanied by
, verified trial balance of the company
books.
Each of said corporations shall pc!
sess the power of eminent domain fC
the purpose of acquiring land ON while
to erect plant to build and repa
vessels"
Section 2. Be it further senacte
etc. That on the official ballot to |
, used at said election shah be place
! the words:
: For the amendment exempting d.
: 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
i certain conditions
And each elector shall Indicate h
vote on the proposed amendment
provided in the general election Law
of this state.
:. p. NJ LAMBREMONT.
J Lieutenant Governor and President
l. the Senate.
e H. G: DUPRE.
u Speaker of the House of Represent
Is tives.
e. Approved: July I, 1910.
q J. Y. SANDERS,
"a Governor of the State of Louisian
i A true copy:
JOHN T. MICHEL,
J. Secretary of tSate.
TT
II
e. ACT No. 800.
y House Bill No 36S.
3 JOINT RESOLUTION
ID A Joint Resolution proposing
y amendment to the Constitution