The Rice belt journal. (Welsh, Calcasieu Parish, La.) 1900-19??, 1912-10-04

sesSed value OF real estate locally as
seSsed and taxed, and less sucn luFt"e.
deductions of not less than i've per Cel'S
on their loans and discounts to cover pdu
debts and unearned interest as the Cen
eral Assembly may prescribe, Whlch uG-
| duCtOu shall be made only from lllcll
surplus and undivided profits; all taxes
TO be paid by the banks and charged 20
! the stockholders.
4. Individual bankers. banking firms
and unincorporated banking associations
domicilcd in this State. shall he assessed
on the amount Of capital, surplus ana
| undivided profits actually employed II!
| their business, less the assessed value OF
real estate locally assessed and taxed,
| actually and exclusively used and EN-
Dloyed in their business, and less Such
further deductions not less than FIVE per
cent on their loans and discounts 10
| cover bad debts and uncaTned interest as
the General Assembly may prescribe,
which deduction shall he made only from
their surplus and undivided profits
5. Foreign banks and individual hank,
erS, banking firms and unincorporated
banking associations, domicied out, Of the
state but doing business in this state,
shall be assessed on such proportion or
I their capital, surplus and undivided
profits as IS actually employed In this
state, less the assessed value Of real eS-
tate locally assessed and taxed. actually
| their business in this state, ami less
! such further deductions, not less than
| five per cent on their loans and dis
counts. to cover bad debts and unoarn-
81 interest rs the General Assembly
may prescribe which deductions ShaU
be made Only from their surplus ana I'M
divided profits.
6. Insurance, bonding and surety com
NAMES, and persons firms and assHci@-
tons engaged IN the insurance, bonding
and surety business, excluding however,
frutnrnal insurance companies and asS'-
! Citations, shall he taxed on percentage
NJ their gross premiums received upon
.Hheir business done In this State. less
return premiums and reinsurance in com
Danies or associations authorized to 90
business in this state. The percentage
aforesaid shall rot exceed three per cent
for all branches Of insurance, bonding
oNd surety business, except life and
industrial inEurance and shall not eN-
coed two per cent for life and Industrial
insurance. The special taxes TO support
the office Of fire marshal and fire pre-
vcrfon bureaus shall not be deducted
from the premiums hereby authorized To
he taxed. When by the laws OF any other
State or country any taxes. fines. pen
Allies licenses. fees, deposits Of money
or Of securities. or other obligations or
Drohihitions are imposed on insurance.
bonding or surety companies Of this state
doing business In such other state or
country or uDOn their agents therein IN
excess OF such taxes, penalties fees, IL
CenSeS, deNOsits Of money, or Of ecCuri-
ties or other Obligations or prohibitions
Imposed uDNn such insurance. bonding
or surety companies Of such other state
or country. so long as such laws continue
in force the same obligations and prohi-
hiti0Ns Of whatsoever kind may be I'm
nosed by the General Assembly OF this
I ioa, hNrSir1
comDarics Of such other State or country
doing business IN this Stote
7. Irrigation canals shall he taved on
4 percentage not m exceed two per cent
~ their gross recei"ts. only such real es-
tate and the buildings and structures
thereon, rights Of Wav, machinery. tools
and ionlements az are necessary to the
| N0eraf'on nj any canal shall be included
IN end covered by this tax on gros7 re-
oeints. Al Other real estate and personal
! Nro"ertv Of the owner If any canal shall
he locally assessed and taxed
3. Al SUGAR rafine~ies, rice mills cot
ION seed oil mills. cotton seed oil re-
Fireries anI reFi0nrfes 90 nrntrornu-, or1
'ts PRODUCTS shall be assessed on the fair
! market valuation.
q. T'ntN otherwise provided nv the
| CererH' Assembly nv y vote Of tvo-th!r1e
! VI the members e'ected r. each house oI
o~o"H ting mines Of surhur, salt or other
| 07irnr"'S. 81 oi' or gas weIe. al stone
! nuarree. sand gravel and shell Wits shall
he taxed uDon q Ne~centn ~e Of tho GROSS
"o'ue If the product at the youth Of
the mine. wei. souarrv or nit This rer-
'N0f""" Sh7H not evH""8 ~" No" cent f0r
/ eu'rhur, three rer Govt for salt. two and
N0e-hnF Ner cent fNr oil '00 @'S. and
TWO nov cent f0r rock and 0'her r0fDera's
'0o'uT'"n NJ grave, sand ara she'lS, TMe
IfHv sha" r0t ann" :" the nrodnCt If ANY,
N''neS. "N9Tries nr ri's ar 81 or eaS wells
where ~" owner, "fhhr than Nuh'in SOW
l,vlCe cnrn0r" tiNne. nSnG the same for NiG
! nerSNN'' 0Nrr"sne ""d d0ns not coll tNn
Same ~ US n"06"cts or r1Nnufo "tura the
"n"'e into nn0tNn" OrnfUo+ f>r cn'n
,Vhere er"re'. sand ~ she'S are token
f~N~o the haAs of ruN'ic ~atare f~~r1
chores not euNIn"t ~ rrivatn ownership
! thn General hS7er,''v NAV tow erncta'
'ovae rn~ cuhic ward If nnate-ia' tnIran
Nut and may lavv diefp~ent erecial toy
fNr on oh If sni6 Nhincte ~ +ave+ion Tho
| Government NJ tho TTritnd ctotoc fNr an"
nurr"See. md contra ct0~s engo'od IN the
CONSTRUCTION ~ arv rrh,'r work tor Tho
state or for the United States solely for
tive ->,,~ooen oF c,-or, r>-NIio rr-orL- a 70 80
thnri7ed RI take free fror, +ovo.iop
arnvol ehel or card FROM the heds of
Duh1ir waters a~d tho ruhIfc shorae ~
tho State Fvn.v ci+i7ep NJ tho cto+o
shall have ei~,tIa- rioNt m tala e,,cb
ma teriafs Tor his o., rarcor., ,,ea FRO.
from tavatinn. un'er- 'hev are ta,,nn for
sole Az real ar1 'eonar nrorertv nf
tho or-rars If erch oe wells c,,o .,,o.
on1 rIte evcert wac -a-v. tools and I'm,
! nlerents absolutely ;. eentio1 RI tho on
era ton Of any mine ~ "as well etone
ruarrv. sand gravel shall nft and ev