The Donaldsonville chief. [volume] (Donaldsonville, La.) 1871-current, 1912-08-31

surplus and undivided profits less the as
sessed value of real estate locally as
sessed and taxed, and less such turtheI
deductions of not less than FIVE per cent
on their loans and discounts to cover PAD
eral Assembly may prescribe, which de-
duction shall be made only from tneiL
surplus and undivided profits; all taxes
to be paid by the banks and charseo 70
T. Individual bankers, banking nrins
and unincorporated banking associations,
don1icled in this State, shall be assessed
on the amount of capital, surplus ana
undivided profits actually employed N
their business less the assessed value OF
real estate locally assessed and taxed,
actually and exclusively USED a aa EN-. e,l
ployed in their business, and less such
further deductions not less than nVe per
cent on their loans and discounts 70
cover bad debts and unearned lnterest as
which deduction shall be made only from
their surplus and undivided profits.
5. Foreign banks and individual oanhs
ers, banking firms ana Mnlhco cor 81 ne
| State but doing business IN TINS STATE
shall be assessed on such proportlon OF
their capital, surplus ana undlvidea
profits as is actually employed In TINS
State less the assessed value OF real es-
/ tate locally assessed and taxed, actually
/ and exclusively used. and employed ~
their business III TINS otaee' az 49,,
| such further deductlons,, NOT lses z ' a5e
five per cent on their loans and as
counts. to cover bad debts and unea near, l.
ed interest as the General AssenpiiH4
may prescribe: when ls ueu ,,el,rs and m
be made only from their surplus anu ~
/ divided profits
8. Insurance, bonding and surety com
\ pan1es, and persons, nIllls alsu aa,,s;,1s
tons engaged IN the ms eahee' ooI-9
and surety business, excluding however
fraternal insurance companies ana as 90
cations, shan De takeu on . q mon
OF their gross premiums tb;a stsfa less
their business done IN Inns otate. iss7
return premiums ana relI1sulaaee III ~ ~ do
panies or assoclauons auIloliaen W g 90
business IN Inls State. 1 ~ PC - oa1t
aforesaid snail not exceed Tires PEI So So:
for all branches OF insurance ,, eolio ni,5
and surety business, eAGep1 Llt t az ~
industrial insurance aaa snall 1du .+ria !
ceed Two per cent ~! liIe ailo ln- s,a 49,,
: Insurance me speclal taxes " ~ supp ~ :
the once OF nfe IhaIsiial anu ~ ~ "a
vent1on bureaus shall not DC uGuad ~
from the premiums herepy au " l. aibe ~
be taxed. When by the laws or any o.al CIV,
State or country any taaes4 hll ne pnlsv
alties, licenses, tees, deposlts OF money icy
/ or Of securities or other opllgaLloIls "
4 prohibitions are imposed on lnsura I ),
!, bonding or surety companies, of this State
S doing business IN such olnef oeate =; y.
country, or upon thelr agents th eaes n ~
d ep nneh Of opeH or Of seu
ties, or other obligations or proh1bltlons
imposed upon such insurance, pon rta e
r or surety companies OF such other otate
q or country. so long as such laws continue
. | in force the same obl1gatlons ana prom
n billions of whatsoever kind may be IN
f posed by the General Assembly OF thls
. State upon insurance, bonding or surety
: companies of such other State or country
! doing business in this State.
& 7. Irrigation canals shall be taxed OF
- a percentage not to exceed two per cen
:, n of their gross receipts, only such real es
- tate and the buildings and structure
= thereon, rights of way machinery, tool
C and implements as are necessary to tn
: operation of any canal shall be 1nciude'
. in and covered by this tax on gross re
e ceipts All other real estate and persona
= property of the owner. Of any canal shal
II be locally assessed and taxed.
~ y, s. All sugar renneries, rice mills. cot
- ton seed oil mills, cotton seed oil re
- - fineries and refineries of petroleum N
- it's products shall be assessed on the fal
a. market valuation.
ar 9. Until otherwise provided by tn
= General Assembly by vote of two-third
= Of the members elected to each house: a
operating mines of sulphur. salt or othe
=, minerals, all oil or gas wells, all ston
W. quarries, sand, gravel and shell pits sha
n be taxed upon a percentage of the gros
ia value of the product at the mouth {
: the mine, we'll quarry OF pit. This pei
: jcentage shall not exceed five per cent #fe
~ sulphur: three per cent for salt; two an
e. one half per cent for oil and gas, az
y two per cent for rock and other mineral
mi inclusive of gravel, sand and shells. TIL
bV tax shall not apply to the product Of ar Z
- =. mines, ularriss or pits or oil or gas well
A., where the owner, other than public Sc
- vice corporations, uses the same for h
|s personal purposes and does not sell Il
~ same or it's products or manufacture I'll
i af same into another product for sal
he Where gravel, sand or shells are take
ir1 from the beds of public waters or fro
= shores not subject to private OWNERSHIP
al the General Assembly may levy speci
ls taxes per cubic yard of material taxi
20. % out and may levy a. different special t.
~ for each Of said objects Of taxation. T,
~, ~ Government of the United States for al
a. purposes and contra ctors engaged in t
construction of any public work for t
ro- State or for the United States solely t
spp the purpose of such public work are q
'.e thorized to take free from taxati
~ gravel. shell or sand from the beds
&c 40 public waters and, the public shores
,o+ the State Every citizen of the Sta
an, shall have a similar right to take su
EN- materials for his own personal use Fl
t la4 from taxation, unless they are taken /
,,al sale. All real and personal property
. snd the owners of such mines wells, quar-
ecu and pits, except machinery. tools and Ii
..or Elements absolutely essential to the c
foi eva tior, of any mine oil or gas well. stc