The Caldwell watchman. (Columbia, La.) 1885-1946, 1912-09-27
s,,rnIus and undivided DrOfits less the as


scssed value of real estate locally as
scssed and taxed, and less such further
deductions of not less than FIVE per cen,
on their loans and discounts to cover Dat
debts and unearned interest as the Cen
eral Assembly may prescribe, which de
duction shall be made only from thei1
surplus and undivided profits. all taxes
to be paid by the banks and charged tt
the stockholders.
4. Individual bankers, banking firms
and uninCnrporated banking associations
dOmicled in this state, shall be assessed
on the amount Of capital, surplus ant
undivided profits actually employed v
their business, less the assessed value OF
real estate locally assessed and taxed
actually and exclusively used and EN-
ployed lit their business. and less slct
further deductions not less than five pei
cent on their loans and discounts tc
cover bad debts and unearned interest as
the General Assembly may prescribe
which deduction Shall be made only from
their surplus and undivided profits.
=. Foreign banks and individual bank
ers, banking firms and contemporaries
banking associations domiciled out of the
state but DONG business in this State
shall be assessed on such proportion OF
their capital SURPLUS and undivided
profits as is actually employed In this
State. less the assessed value of real es-
and exclusively used and employed il
their business IN this State. and less
| such further deductions. not less than
| five per cent on their loans ana dis
counts. to cover bad debts and unearn-
| ed interest as the General Assembly
may prescribe. which deductions shall
be made only from their surplus and W.
! divided profits.
G. Insurance, bonding and surety COM
panies. and persons. firms and associa-
tions engaged in the insurance, bonding
and surety business, excluding however
fraternal insurance companies and assoc
Citations, shall be taxed on a percentage
OF their gross premiums received upon
| their business done in this state. less
return premiums and reinsurance in com
banies or associations Authorized to dc
| business in this state The percentage
aforesaid shall not exceed three per cent
for all branches Of insurance, bonding
and surety business except life and
Industrial insurance and shall not ey-
coed two per cent for life and industrial
insurance. Tie special taxes to support
the Office Of fire marshal and fire pre-
/ vcntion bureaus shall not be deducted
! from the premiums hereby authorized to
be taxed. When by the laws Of any othe,
State or country any taxes, fines. pen
aties, licenses, fees. deposits of money
or Of securities, or other obligations or
!
! nondlng or surety COMPANIES Of thi, State
doing business in such other State or
! country. or HD0n their agents therein In
excess Of such taxes. penalties, fees, H.
cenSeS. denOSitS Of money. or Of s.curi-
ties. or other obligations or prohibitions
imposed upon such insurance. bonding,
Or surety conDanicS of such other State
! or country SO long as such laws continue
in force the same obligations and prohi-
billions Of whatsoever Kind may be i'm
posed by the General ASSEMBLY OF this
! State unon Insurance. bonding or surety
comnaNies Of such other state or country
doing business in this state.
| 7. Irrigation canals shall be taxed on
| q percentage not TO exceed two per cent
OF their gross receints. only such real es-
tate and the buildings and structures
thereon. rights of way. machinery. tools
and implements as are necessary to the
operation of any canal shall he included
| in end covered by this tax on gross re-
ceipts. All other real estate and personal
nropertv Of the owner of any canal shall
be locally assessed and taxed
8. All SUGAR refincries. rice mills, COT
ton seed oil mills. cotton seed oil re-
fineries and refireries of nratroleri-n ana
its products shall be assessed on the fair
market valuation.
2. Until otherwise provided by the
General Assembly by n vote Of thirds
vi Tue HleIlNGS elfcIPq 10 Gacp mouse All
operating mines of sulphur. salt or other
minerals. all oil or gas wells az! stone
n'larries. sand. gravel and she'll rits shall
be taxed 'uoon percentage of the gross
value OF the product at the mouth Of
the mine. well. quarry or pit. This per-
ceotage shall not exceed FIVE per rent for
sulphur: three per cent FIR salt two and
two rer cent for yocfpnd other minerals,
Inclusive Of gravel. s~hd and shells. This
tav shall not snply to the nroduct of any
mines. nnarries nr pits or oil or gas wells,
where the owne~, other than public SER
vice corporations. uses the same for his
personal nurr'o~"s and Goes pot sell the
same or it's products ~ rlarufa cture the
come into pnother product for sole
Where gravel. sand shells are taken
from the beds "f public waters or FROM
shores not subject Ia private ownership.
the General Assembly rnav lew s,,ecial
t"res rer cubic ward of materia, tatnn
out and may levy q different srecial toy
f"r each Of said Objects sc tava+ior. The
Govern~,ept Of tho T',itel States for anv
construction If anr n''h'ic work far the
e+ote or for the Uritpd States solely for
t"o ~"~DOsn Of s-nll r"h',c work 49,
thorizad to take free fro-l tayatiOr
gravel. shell or sand from the baas Of
r'Iblic waters and tho nlblic shores Of
SNlfn
shel} have a similar right tn take such
waterfalls for his own rersoral use free
from tavation. unless they are taken for
Gale. All real and ro~sonal property of
the owners IF such 'r,inar wells, u,1n~-'es
nnd nits, evcent ,nachirerv. tools an,i I'M
r'ewents absolutely e-snntial to The on
Grafton Of any rhine oil 90 COS we'll rtore
quarry; sand. sr"rel or sh"ll nit. ar7 e.v-
cent the products themselves while II,
! tho hands Of the rroducer, shall be To-
! allv assessed and tavoI
! 10. 81 real and "ar"""1l rrOrcrtv rc-
served for local tavatior shall he aeseseed
ut Suc', rer"a-ta~e n"t IN exceed 100 rer
cent Of &c fair m"rfet value as each 10
cal governing authority NAV establish
"nd . lower rercerta9e NAV be ec!oh-
'ishoA for persona, than for real property
| or for the values of improvements thar
=, fov lard values
! II. Tn all assessments Of real rrorerty
whether for local or for State PURPOSES
the value IF the land sha, he assessed
serarAte'v fr"~' the value Of the improve
mertc: nut railroad. rire 'ire and cana
rights 1T wav. whether held II fee or I'm.
der easement. NAV no asresced senarate,,
from. or together With, the i,-rrovements
thereon pc the Tax Commission may
deem I'1nst practicable.
IL. a~"eSsmerts shall he ARRANGED geo
Fra nh'"al'T as fa~ as possible either u,,,
/ records
+ G"rernl Assembly, ehn'l rags lowe nro
yi"inrr for tho rri~tir'o and ,rlI,fica tinr ~
""r,rh'at f~~'', &c tho reonris, shnwirs
such "en"~arhi"allv arrn Nrnd ar-n--rart
i"na fn- the sale Of such pamphlets at =;
! S',>'il C-.ce
~. "'e"'' tavnaver shoIl hove tn,
rfrht cf te"ti~g the cnrreci~ncs Of his as
sesr'nn~t I, ttc cnnr+e WITHIN such tim
&C tho T-o-'n~c' tr~n~-h1-- 7>,"u r,-oSc-'.e
and M r~c-a~tv Gha,I he accereed for