St. Tammany farmer. [volume] (Covington, La.) 1874-current, 1920-10-02

clus:Ve Of wharfage, shed or ieVee
dues, i0f fifteen years from the date
of fling with the Secretary OF State
proos that their authorized capital
stock las been paid in full in cash
No such steamship company shall
have the benefit of this Constitution
al provision except upon the follow
ing conditions:
Fir5r-That such company shall
have been organized and the whole
of its authorized capital stock pad
i'll CASH before January 1st, 1916.
SecoEd-That such company shall
be domiciled in the City of New Or
leans, or in some other port OF this
State
Th.rl-That such company shall
nave a capital stock of at least three
million dollars, payable in cash.
Fourth-That It shall be provided
III the charter Of the company t:,at
10 corporal: n, firm, or indivldual
slaI own Or control, either dire '-ly
II indirectly, more than one-tWent'-
eth Of the capital stock Of the coll-
s)any; and that all poonng agre2-
ment5 and. voting trusts between the
{ on shall be absolutely null AMI
void end no stock held in any sueh
pool cr voting trust shall ever Ge
voted at any corporate election 'f
meeting.
Fifth-That the capital stocE Of
ZACH company shall! be open to public
| ST. description. by public alVert'Er-
n ents in the New Orleans naWspaD
els for at least three months hes)re
ne books are closed, and If over
subscribed shall be appor--' med
ancne the subscribers.
Sixth-That all vessels operated
| by said company shall be common
carriers on every voyage unless tho
whole capacity of the ship shall be
chartered for particular voyage ur
voyages for a particular purpose.
1t rhall be lawful for companies
so organized il addition to the pow
ers .low provided by the laws of the
State TO incorporate into Their char
terra all or any Of the following pow
ers:
F1rst-To build, charter or pur-
| chase vessels.
| Se.opd-To insure goods, wares
| and merchandise carried on their
own bottoms against fire and per:ls
Of the sea.
Thild-To build, own and rent
| and operate shipyards, docks, piers,
Nharves and warehouses for the
.ran8aLtion of their business.
| Fourth-To trade with foreign
! ;ountIles, including the foreign pos
| sessions Of the United States, by ex-
| porting cargo. carried thereto in thel:
vessels, and to import from foreign
countries, including the foreign pos
sessions Of the United States, In their
own vessels cargo for sale or az
change in the United States, but no
ship vr such company shall be laden
with TIE company's cargo to the ey-
clu3ion of cargo offered for such Voy-
age by the general public, and such
cargo offered by the general public
shall have preference on all voyages
for watch 1t is offered.
Fiftn-To authorize corporations,
foreign and domestic, to subscribe
to and own shares OF their capital
stock, not however in excess of the
limitation above provided.
No leased property or chartered
ship shall be within the exemption
herein granted, nor shall vessels OF
such corporations operated in the
coasttnz trade of the United States,
or operated between PORTS of the
lUnited States, other than Louisiana
ports, and foreign countries, not IN
Guiding the foreign possessions CT
the United States, be within the eN-
emption herein granted. One such
voyage In any year shall subject tho
vessels making the voyage to tax
alton for that year.
The proof above required to De
| fled with the Secretary of State that
that the authorized capital stock mas
been paid In cash shall be the joiat
affidavit of the president and secre-
tary or the company to the 'effectt,
accompanied by a verified trial bal
ance Of the companys books.
Eaen of said corporations shall
possess the power OF eminent domain
for the purpose of acquiring land on
| which to erect q plant to build and
lrepatr vessels.
/ There shall be exempt from STATE,
parish and municipal taxation for a
period of ten (10) years from Ja1n-
airy l, 1921, all buildings, including
machinery and appurtenances locat-
ed thereon, or other improvements
constructed for manufacturing, COM
mercIal and business purposes on thu
Hands CT the Navigation Canal, thu
| title Of which is or may be held by
| the Board of Commissioners Of the
Port c. New Orleans, sas an agency
/ of the State of Louisiana, and which
| may be leased from said Board by
| any person or corporations conduct
| ing business thereon; provided, tina:
not less than twenty-five Thousand
| ($25 e00) Dollars shall be invested
in the physical property of any such
enterprise, and further provided not
less slan twenty-five z(25) persons
shall ee constantly employed thereon.
Seetion 2. Be 1t further resolved,
ETC., rnat on the official ballot to be
Ised 1t said election shall be placed
he words: For the proposei
amendment adding to Article 230 Of
the Constitution of this State certain
exemptions from taxation as to In
dustr.es located ON the Navigation
Canal, New Orleans" and the words
Against the proposed amendment
adding to Article 230 of the Consti-
tuition of this State certain exemp-
tons from taxation as to industries
located on the Navigation Canal,