The Natchitoches enterprise. (Natchitoches, La.) 1888-1965, 1912-10-03

genate Bill No. 9. By Mr.. Burke.
Joint resolution submitting 10 tne
people of Louisiana an amendment to
the Constitution exempting from taxa
ton for twenty 600 years corporations
organized 10 lend money on mortgages
ON country property at not more tnan
six (6l per cent ineerest, net II the
borrower, with power to negotiate bcnds
and securities Of local taxing districts
seetio. B os th estate stnte Of ~ @
swo-thirda az all the members elected 70
each heirs Acurring. That The follow
e ,,iss. ts M, te s. ne
SS--zs hereby submitted 70 the Qualified
slecfors or the State at the congress
sionaI election TO be held on the first
Tnesday after the first Monday in the
month Of November, or the year 1912, to-
The capital, surplus and personal es-
tate OF every corporation hereafter or
Sanized in this State for the sole pur-
pose of lending money on mortgages on
country property situated In Louisiana
at rate of interest not TO exceed SIX
power to negotiate and handle bonds
and securities issued by the various par
ishes and local districts and municipali,
viea OF the State of Louisiana shall
be exempt from taxation for twenty l20)
years from the date of the organization
of each of said companies, provided that
each Of said companies shall have full
naid cash capital stock of not less than
S250. GOO 90 and provided further that
n case any such corporation shall on
any loan charge the borrower more tnan
ak per cent interest whether by way of
commission. discount or otherwise. 1t
shall forfeit the entire exemption here
In granted. and be subject to taxation
from the time il makes such loan; and
ony such corporation handling or ne
gofiating any SECURITIES other than those
fereinabove mentioned shall incur like
No such corporation shall have power
70 receive any money on deposit or 70
do a banking business of any sort. but
all such corporations shall be under
the control and supervision OF the state
bank Examiner whose duty 1t shall be
to report TO the Attorney General ana
che State Tax Commission any viola
ton OF the condition OF this exemption.
Section O. Be 1T further resolved, etc,
That there shall be printed In the
ballots to be used at said election the
words For the amendment 70 me Con-
stitution exempting from taxation for
twenty GOO years corporations organlz-
ed for the sole purpose OF lending money
on country real estate situated In Lou
ieiana at not more than six (6) per
cent to the borrower with power to ne
gotiate and handle local securities. and
the words Against the amendment to
the Constitution exempting from taxa
zion for twenty (2O) years corporations
Organized for the sole purpose of lend
ing money on country real estate situat-
ed in Louisiana at not more tnan ia, stS
mower to negotiate and handle local
kecurifies" and each elector shall in
dicate on his ballot. as provided og the
general election laws OF the state,
Whether he votes for or against the said
amendment.
lieutenant Governor and President OF
tne se" L. E. THOMAS,
SNEAKER of the House of Representatives
Approved; August s4th. Lslz; HALL,
governor Of the state Of Louisiana
kLvIN 4 HEBERT,
Secretary of state
ACT ITO. =.
Senate Bill No f. BY Mr.. FaVrot
Joint resolution proposing an amend
ment to the Constitution OF the state
OF Louisiana relative to the exemption
from taxation Of money in hand or or
(. Section /. BE 1t resolved by the Gen.
eral Assembly Of the state OF Lou liatn.
10 each house concurring. That the fol
iowing amendment to the Constitution
OF the State be submitted to the quail li,
adoption or rejection at the congress,
eIonal election to be neld on the first
Tuesday after the first Monday In the
month of November 1912, as follows:
There shall be exempt from taxation
all money IN hand or on deposit.
Section 2. Be 1t further resolved. etc
That the official ballot to pc used a.
said election shall have printed thereon
tire words: For the proposed amend
rnent to the Constitution of the State OF
Louisiana exempting from taxation Al
words Against. the proposed amend,
fnent to the Constitution OF the State 81
Ioufsiana exempting from taxation AZ
money in hand or on deposit. And eacn
eiector shall indicate. as provided BY
the general election laws OF the state
whether he votes for or against the pro-
posed amendment.
Lieutenant Governor and President Of
the Senate. $1,000.
- ~. r1n,.me re n tat fyeg