The Natchitoches enterprise., 1920-09-30

Indicate. A. provided in the genera
.'"'Hl on laws OF the state. whether o.
not he rotcs for or against the amend
!neiit.
Il. +. WALKER
Speaker Of the House of Representa-.
tivcs.
HEWITT BoUANcHAUD.
Lieutenant Governor and President ol
Approved: July 7. 1920.
JEO. NJ. PARKER.
Governor of the State Of Louisiana
true copy:
Secretary of State.
ACT NO. 153.
House Fill No. 37s-By Mr. Claiborne.
Substitute for House Bill No. l9s.
JOINT ItESOLUTION.
Proposing an amendment to Article 230
Louisiana relative to exempting GER
tain industries located on tho naviga
ton Canal, New Orleans
Section I. BE Il resolved by the Gen
lana. two-thirds Of all members elected
to each House concurring. That the fol-
lowing amendments to the Constitu-
ton of the State of Louisiana be sub
the next Congressional Election to be
held on the first Tuesday after the first
Monday in November. 1920. making
said Article read rs follows:
exempt from taxation. and no other.
viz: All public property. places of re-
llgious worship. or burial. the rectories
and parsoHages of churches and
exclusively as residences for the min
listers in charge Of such churches. ali
charitable institutions. all buildings
and property used exclusively for pub
1t,r IL
colleges and other school purposes. the
real and personal estate of any public
library. and that Of any other library
association used by or connected with
cal apparatus. and all paintings and
statuary OF any company or associa-
ton, kept in a public hall: provided,
the property so exempted be not leased
profit or income. There shall also be
exempt from taxation household prop
erty to the value of five hundred dol |
lars. There shall be exempt from tax
alton for q period Of ten years from
the date Of it's completion. any railroad
Or part OF railroad that shall be con-
structcd and completed subsequently to |
January l. 1905. and prior to January 1. |
1909. This exemption shall include and |
apply to all rights Of way roadbeds. |
'idings. rails. and other superstruc-
.ures upon such rights of way, road
'eds or sidings; and to all dcpOts. sta
ion-houses. buildings. erections and
'tructures appurtenant to such rail-
'oads and the operation Of the same:
'ut shall not include the depots. ware
louses. stationhouses and other struc-
ures and appurtenances nor the land
lpon which. they are erected at ter
ninal points. and for which franchises
ave been granted and Obtained;
yhether same remain the property Of
he present owner or owners, or be
ransferred or assigned to any cor
OTatlOn or COrDOTlfiOnQ |
ons whomsoever. and, provided fur
her, that this exemption shall not
pnly to double tracks. sidings,
r betterments. which may be con-
tructed by railroads now in operation
'ithin the State. other than extensions
new lines constructed by such rail-
lxation the legal reserve Of life insur-
lws of this State. The property or
.al estate belonging to any military
Sahzat'on bich a. a.S o. tn the state Of Louisiana
uard or militia for military purposes,
ich as arsenals or armories, while so
,ed. shall be exempt from taxation.
here nor shall also be exempt from tax,
ortgages granted upon real estate
tuated in this State, as well as 'ho
ortEages granted to secure said loans.
ID the notes. bonds or other written
neither in the hands Of the mortgagee,
his or their transferees; and ali
ans made by life insurance companies
their poiicyhoiders. upon the sole .
wer In the company making the +
ms, ~ well as all notes or other ).
itten Instruments. evidencing such /,
lns; provided; that in the case of q
Aforesaid, the rate of interest Il
arged upon such loans does not ex- =, :,
g hve per cent (sx) per annum dis ',
HE Ih capital surplul ana personal !, 2
ate Of every corporation organised 'o
or November 33rd, 1871, in. this State
the sole purpose Of lending ii
psytv nsy on .,tu.ieS %icGSts:seY e On country II
9 Of interest not to exceed six per nc
t (6%) net to the borrower, with w
yer to negotiate and handle bonds y,
securities issued by the various w
Qualities of the State Of Louisiana 20 30
Ill be exempt from taxation for m
enty (20) years from the date Of ha
organization Of said companies;
re a full-paid cash capital stock of n,
less than $25O,000: and, provided ~
ther. that in case any such corpor- st
On shall on any loan charge the bor- ii,
ether by way Of commission, dis. NC Nc
mt or otherwise. 1t shall forfeit the o po
ire exemption herein granted. and ~
subject to taxation from the time II ~
kcs such loan; and any smch cor Al
alton handling or negotiating any g.
urities other than those hcrcinabove tis
ntioned shall incur a liks forfeiture. W.
70 such corporation shall have power ae
any h.iny mGney on deposit or to I'M
such corporations shall be under
control and supervision Of the Ex- III
ncr OF state Banks. whose duty it
IL ne TO report to the Attorney
leral any violation Of the condition sp
this exemption. ~
companies organized as
einafter set forth. together with
r capital stock and all their prop
:. corporeal and incorporeal, shall A
exempt from all taxes and licenses
te. parish. Icvee MI s,.ur icipai. both
erai ana special. exclusive Of wharf -
retary, Of State proof that their
iori.ed 4. capital stock has been paid
Q such steamship company shall
e the benent Of this CONSTITUTIONAL
Vision except upon the following
such company shall have
,os,rss 1rsssni.ed ns and the whole OF its
re- U5sn 5snusrp sap'ta IL. 'fSfs iSf paid in cash
such company shall be
aciied ! IN the City Of New Orleans,
some other port of this State.
iird--That such company shall have
pital stock of at least three mill
dollars. payable only In cash.
'urth-That Il shall be provided in
charter Of the company that no
grafton, or nrm. or individual shall
or control, either directly or in-.l
;tly. more than one-twentieth of
capital stock Of the company; and
all pooling agreements and voting
fs between the stockholders to
rol the corporation shall be abso-
y null and void and no stock held ii
ny such pool or voting trust shall
be voted at any corporate election
Getting.
the capital stock of each
amy shall be open TO public sub
tion by public advertisements In
New Orleans newspapers for a.
three months before the books
iosed. and II 0vsr-subscribcd sheIl
pportioned among the subscribers.
all vessels operated by
company shah bs common carriers
very voyage unless the whole ca.
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