St. Landry clarion. (Opelousas, La.) 1890-1921, 1910-10-08
No. 27e.
Senate Bill No. 1877.
AN ACT

Senate Bill No. 1877.
AN ACT
Submitting to the people Of che State of Lou.
istana, ut the congressional election to pc
held il N~ovehmer, 1910, an amendments to the
constitution exempting from taxation for
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
exemption.
Whereas, the City Of New Orleans is the
natural gateway OF the Mississippi Valley
q that greatess ard most virile section
of this republic; and
Whereas, the completion Of the Panama
Canal viii gIys an enormous Stimulus TO
trade and ecuameses between the Missis-
sippi Valley and Orient md the west coast
of Honth America and of our own country;
and
Whereas the people Of tho Mississippi
prspared to take iumsaSate advantage Of
field which It opens be saken possession Of
~ the maritime rivals Of this country;
Whereas, grees steamship companies
doniciied in Rew Orleans are the only
and the absolutely necessary means
whereby trade and d between the
Mississippi Wiley and the countries Dor
dbring on the Pacific Ocean may be pro-
NOTED and conserved for cur own country;
and
Whereas, che State proposes to tax her
self to promote 3 great worlds exposition
at New Orleans to celebrate the completion
OF the Panama Genial, and it is the States
duSy to encourage and promote the organ
i2ation OF sacb great steamship companies
in aid and in 9artheranee OF this project.
Section L. Be It enacted by tho General
thirds Of an the members elected to each
branch GheTeo9 concurTing, that at the cong.
r~essional election to bs held IN this State on
amendments to the Gongtitution 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
incoxporeal, shah be exempt from all taxes
and licenses, State, Parish, Levee and NUM-.
S4Rsl, eesn s se1defo or a 1e7e speSi nss eS fer Y sftes q
years from the date of fling with the Secre-
taky of State proof that their authorized
capital stock has been paid in full In cash.
benefit of this constitutional provision except
upon the following condition.:
organized and tie whole Of Sc authorized
capital stock paid In cash within two years
from Janugry 1. 1911.
~second-That sush company shall be doni-
othsr port Of this State.
ThiPd-That such company shall have .
capital stock Of as least three naillton dollars.
~Fourth-Thas IL shall b provided In the
charter of the compauT that no corporation.
o;,S I'm d,E o. hno ~ lnaira saln o m.s. g has son NEol
W. " AAAAA 80 N1A1 RNE&& kAgE
twentseth Of the capital stock o4 The COM
pany; and that all pooling agreements and
voting trusts between the stockholders to
control the corporation shall be absolutely
nutl and void and no stock held in any Rueh
pool or voting trust shall ever be voted ct
a sGrperssa M eeDite 81 s msssn 81 ..os com.
pany shall be open to public subscription
by public advertisement in New Orleans
for at least three months before
the books are closed, and If ever-subscribed
shall be appo1tioned among the subscribers.
sixth-ThAs an vessels operated by sstd
company shall be common carriers on every
voyage unless the whole capacity Of the ship
shall be chartered for 8 particular voyage,
fer q particular purpose.
It shall be lawful for companies so oxgeni-
zed in addition TO the powers now provided
by the laws of the State to incorporate into
theiE charters al or any Of the following
powers:
First-To build, charter or purchase yes
Esls.
Second-To insure goods. waxes and mor-