The St. Mary banner. (Franklin, Parish of St. Mary, La.) 1889-1931, 1917-10-06


voluntary agreement OF the 4uarantor-
| Later the Company WAS so fortunat
as to devise the plan Of purchasin!
| Point Au Fer Reef, through watch tn
channel was cut. which ownership
gave them the night 10 Gemand tolls.
| A number of consideration rave W.
| doubteQiy been determining factors i,
| TIE attitude OF the Government Ia tax
mo over the channci, and this owner
| ship OF Point An Fer Reef, which ha
| now been transferred to the Govern
| Bent, was probably not the least O
| these cons ideratious.
During the progress Of the dredging
| of the first channei, which was i I fee
deep and 100 feet in width, the proper
Inv taxpayers of this Parish wrrs
shown the project, and thereafter i'm
me1iateiy voted one mill tax To fur.
| Their the Interests of the emanuel This
tax carried Dvcrw he imiuglt (bOth n
numbers and amount
1t was agreed by resolution Of The
Company. and by statement Of the
Company officers. that the proper ty
taxpayers repres n,ed 10y the Police
Jury. should be considered as stock
holders in any distribution of divi-
dends. although to issue them stock
was Illegal.
At a subsequent date, due to the
hearty cO-OperatlOn Of Senators and
Representatives at Washington. aud
due to the heipfu!uess Of tn Consrac-
tor, Mr.. X +. Clark, OF Galveston,
Texas, who appeared with the Com
pany's representatives before the
Rivers and HarbGrs Committee of
Congress, an agreement was reached
with the Government whereby the
channel would b drehged by the Chan
mel Company to a depth Of p feet. with
n bottom width of 200 feet. and muin
tanned for period OF TIRE years; and,
that after the said three years, the
channel, inclu ing the Reef. should
be turned over to the uvernment.
The Channel Company was to re-
ceive $500, 10000 TOR dredging the
channel, and So, 900 % for the main
tenauce of three years As d matter
of fact. the Channel Company. at the
time OF making this agreement with the
Government, had SO to make an
agreement with the contractor, where
by it paid said Contractor S75, 900 90
for the maintenance for three years 1t
is evident at once that the Channel
Company was thereby the loser Of
SIS. 900 90, bu. this was considered pr
ali parties absolutely essential. aud
this loss. together with 9th n main
tenance costs prior To the III vernm9nt
contract, accounts for the fact that the
investor in this enterprise cou.u not
receive dollar for dollar.
The Company received the Parish
one mill tax for seven years, ano III
stead of receiving SI5, 900 % The re-
ceipts were so 900 %. due to Increased
assessments All stockholders ana
the Parish officials. VINO had been con-
Sldered as Stockholders, have received
81 - per cent IN dividenus. 1t had
never occurred to any official of TIL,
Company that an improper amount
had been received from the Parish uu-
til the manager Was called before The
former Grand Jury and this question
was raised. The resolution IN 40 case
states that the amount should not eX-
coed $4,000 90 but names explicitly
the years duriug which the one mill
tax should he levied, and states most
specl fically the number seven years.
and names the figuie ia one place as
S45 go. VI and IN an ther Sf3, 90 20.
The PARISH officials, naneIy, the As
SCISSOR and the sheriff and Tax Col
iectOr, evidently Construed the mean
ing of this resolution II making the
assessment, and cOitectlous. and tue
officials Of the Company placed the
Same construction thereon, namely,
that the lax should be extended for
seven years
The Company has considered III
Parish a SLUcknuluer. auu has p1Id
the same per Cent of refund to the
Police jury as TO the prlvaFe stock
holders, and The question of uuder
payment, or. receipts e.ond the Leg al
amuunt, have never come up uutii the
question was rtlsed by The Turner
Grand Jury. Your Honorable Brdy
win see at once tnat II al error h.,
peen made. the error Was Not ma &c DA
ms CUrpuratlun. The Company Was
in iced very sorry To Sc. the question
Raised. as IT has Gained 20 DE d cor
pOratiOn vita Il pureIy at, vi, &c III y
tive no official vi Wnrm has ever re-
ceivrd a satars, th5 ptyin' III - the
managet hay ~ been apprOAim ltely
bot ehalt uI MS Expense account
during TIE perlou OF nlue years. Inc
, O,npauy cidltns fur ttier IL De The Ouiy
Ia the history of cUrpU-
rhliUns that has ever returned any
part If d lax voted 10y the pubic.
iuere hd, been 40 legal OUiEdttun
thai the COMPANY I'll - q
return Any amount OF Ii ,uey 10 the
Parish lhv, pUiiEtLtll Hi.s puIpi, :,
N raj one. made aud ctealeu vuIun
tariis D, tue ompdu, use /, ana . adj
!, carried gu.
We beg To suomi herewith the fol-
lowing re>DiuLiou pto,eu Oy The Road
OmmiSslUu, REPRESENTING lhd ioilce |
jury. on tue l1tn dag of Iat Oh. 1919,
1T the tim th.. your Honpr,,u q jury
received Of tniS umpany for putllc