The Donaldsonville chief. [volume] (Donaldsonville, La.) 1871-current, 1912-10-05
- - ..a,x,,cad prof1ts lass fna as

EIraS value OF real So .,,ob further
nessed ane ~ NOT less than FIVE per cen.
aedle \. lao n and discounts TO cover pho
on thea a,,a uusarned interest as tne os gu
debts .asnas s may prescribe, Willcn , usr
efal. , ns sham be made only ron on IVES IVES
a,rsus and undivided pFor ND charged to
~ Be paid by .iae oS1''A' >@
Ae sto q.aip,dnal bankers, banking firms
lnh..narnorated banking ASSOCIATIONS,
4 pnd VIZ. aa.d In this State, shall be assesseI
dost me amount of capital surplus ai n,
undlslha'e,sat ness, less the assessed value OF
the,f e na locally assessed ana taSeu'
real . nsu and exclusively used ana EN-
aetuaa,is IN their, business, and less sucn
plo,sss sa deductions not less tnan nVe pta
fTthei their loans and discounts 10
cent q 81 dehts and unearned interest as
$ cover or Assembly may prescribe,
the ueanaa,1ntion shall be made only from
Rf l,s surplus and undivided profits.
their Tareign banks and individual bank,
=. . banking firms and unlncorpof E rec
ers S,,, uei associations, domiciled out OF fle
banSihss t., as doing business in this State.
STATE ~, ~: assessed on such proportion OF
sna iI ccanital. surplus and undivided
the eats az is actually employed in this
Y g to..s' lass the assessed value OF real es-
+ s sata locally assessed and taxed, actuaiiy
stal ls i.Sysc,IIsively used and employed IN
ana brsiness in this State, and less
NET S,rther deductions, not less than
s ,l'a aar cent on their loans and DIS
lMs & 10 cover bad debts and unearn-
4 eo s i,terest as the General Assembly,
e. cav prescribe, which deductlons snail
y may sao a. only from their surplus and un-
s Tnsnrance, bonding and surety COM
~. and persons, firms and assocfa-
q g gans engaged in the insurance, bonding
a aad snrety business, excluding however,
q frafernal insurance companies anu asso
l,atons shall be taxed on a percentage
" t .hair gross premiums received upon
q ,'j bnsiness done in this State. less
, .at,,rn premiums and reinsurance IN com
EN-. o.rtas nr associations authorized to do
Pasisess in this State. The percentage
~ ali branches of insurance, bonding
X lnd snrety business, except life and
asssa n insurance and shall not ex-
nsea Two per cent for life and industrial
insnrarce, The special taxes to support
the Office of fire marshal ana hre pre-,
santtnn bureaus shall not be deducted
sran, fhe premiums hereby authorized to
i X faxed, when by the laws of any other
Gaia or country any taxes. fines, pen
sltias licenses fees, deposits of money
~ of securities. or other obligations or
\ nrohibitions are imposed on insurance,
pnnding or surety companies OF this State
doing business In such other State or
c Sor or upon their agents therein in
3 sycess at such taxes, penalties, fees, IL
eenses, deposits of money, or of securi-
tIes or other obligations or prohibitions
imnnsad upon such insurance, bonding
~ surety companies of such other State
e Al country, SO long as sue laws continue
An force the same obiigai ms and prohi-
4 billions Of whatsoever kind may be i'm
Doged by the General Assembly of this
State upon insurance, bonding or surety
companies of such other State or country
aaiy,,r b,cinosg IN State
n Irrigation canals shall be taxed on
a percentage not to exceed two per cent
Of their gross receints, only such real es-
tate and the buildings and structures
Z thereon, rights Of way, machinery, tools
and implements as are necessary to the
preration Of any canal shall be included
# IN and covered by this tax on gross re-
cepts All other real estate and personal
property of the owner of any canal shall
be locally assessed and taxed.
s. All sugar refneries, rice mills, cot
ION seed oil mills cotton seed OIL re-
fineries and refineries of 'pretroleul and
its products shall be assessed on the fair
market valuation.
g. Until otherwise provided by the
General Assembly by a vote OF twothirds
of the members elected to each house. all
operating mines Of sulphur salt or other
minerals, all oil or gas wells. all stone
quarrfes sand, gravel and shell pits shall
be taxed upon percentage of the gross
II value OF the product at the mouth of
the mine, well, quarry or pit. This per
centage shall not exceed five per cent for
! sulphur; three per cent for salt; two and
one-half per cent for oil and gas, and
two per cent for rock and other minerals,
B inclusive Of gravel, sand and shells This
tax shall not apply to the product or a1y1
4 mlres auarries OF pits or oil or gas wells,
e where the owner, other than public SER
q vice corporatfons, uses the same for his
81 personal purposes and does not sell the
s same or Its products or manufacture the
same into another product for sale.
Where gravel, sand or shells are taken
from the beds of public waters or from
shores not subject to private ownership,
me General Assembly may levy special
taxes per cubic yard Of material taken
out and may levy different special tax
tor each OF said objects OF taxation. The
GoVernment OF the United States for any
PURPOSES. and contractors engaged in the
construction Of any public work for the
s -. O. Tor the United States solely for
!! lae purpose OF. such public work are all
IheFzed e take free from taxation
Elave' shell or sand from the beds OF
t gaoi sta waters and the public shores Of
s s have similar right to take such
materials for his own personal use free
if rom taxation. unless they are taken for
NJ Az real and personal property Of
s w owners OF such mines wells, e,1arries
dement's absolutely essential to The on
e,s.lon Of any mine. oil or gas well. stone
qaaIfy; sand, gravel or shell DIT. and ex
ssat the products themselves while in
III III nands OF the producer, shall be 10
aW y assessed and taxed. -
~. 81 zeal and personal property re-
served y for local taxation shall be assessed
= ". suc .. percentage not to exceed 100 per
csn' VI lts fair market value as each 10
sa s governing authority may establish.
isbas owe. lower percentage may be estab-
e. Of for ~ ~ personal than for real property
toT land values ieA y eiiio 7S tiien
NH, 70 all assessments Of real nroner+y
tbs s. ns,,, Ior local or for State purposes.
nan. r saaae q the land shall be assessed
mants aeely from the value of the irnnrove
rights nut railroad. pire line and canal
dsr ls ~ a ~ way, whether held in fee or I'M
fror 4a -, a may be assessed separately
thsraoo,s sogetner with. the improvements
aS ID most practicable. A'ie1'
r, -, assessments shall be arranged GOO
thaap sns as far as possible either INN
4 f,aaar vi OF upon separate records ana 4ha
yIdnra Z, J., assembly shall mass laws nro-
parnnhla} me printing and publication In
such pao.r loInl 81 the records showing
and fa, g. pnlcally arranged assessnents
snail n,, re sale Of such pamphlets at a
right - every YER, taxE>ver shall have the
sessnent' T,s T. the correctness OF his as
e as the CT ~ me courts within such time
and \. I raI Assembly NAV nrescribe.
san, 20 e PROPERTY shall be assessed ,o ne
II fair i, ~ e. excess of the percentage If tie
eeig.efning authority, p esoiioea ov 1he
tagas State licenses and snaoi.1 c+.+a