The Bossier banner. [volume] (Bellevue, Bossier Parish, La.) 1859-1952, 1920-09-23

the qualified electors of the State of Louis
lima far adeptiea or rejastion Al the .on.
Tuesday next following the first Monday in
November. 1920.
That the official ballots to be used at
words For the pro- proposed ame snscn ito to
Article BOZ: of the Constitution of the State
of Louisiana relative to the pensions for
+he and the words
Gle BOB Of the Constitution of the State Of
Louisiana relative to pensions for Confcd
crate Veterans, and each elcctor shall in
ttieatc. as provided in the general election
laws OF the state, wherhcr or not he votes
for or against the amendment.
X. Il. WALKER,
Speaker of the IIouSa of Representatives.
HEWITT BOUANCHAisD.
Lieutenant Governor and President Of the
Senate.
approved; July 4, 1920:
JNo. NJ PARKER
Governor of the State of Louisiana.
JAMES j. BAILEY, Secretary of state.
ACT No. 49,
Hc,lsa Bill No. 1851 Rv Mr. Claiborne.
Substitute for House Bin No. 190
JOINT RESOLUTION
Proposing IN amendment to Article $50 OF
the Constitution of the State of Louisiana
relative to cxempting certain industries
located on the navigation canal. New Or
leans.
Section J. Be 1t resolved by the General
Assembly OF the State of Louisiana, two
thirds OF all members elected to each house
conenrring. That the following amendments
lana be submitted to the electors Of the
state 1T the NEXT congressional, .Iee tion tos
be held on the first Tuesday after the first
Monday in November, 1920, making said
article read us follows:
Article $50. The following shall be OK
emit from taxation. and no ether, viz All
public property, places OF religious worship.
or burial, the rectorics and parsonages OF
churches and grounds thercuntO appurten-
amt, used exclusively as residences for the
ministers in charge OF such churches, all
property used exclusively for public monu-
ments or historical collections, colleges and
other school purposes, the real and personal
estate OF any public library. and that Of any
other library association used by or connect
ed With such library. all books and paiiOsO-
phical apparatus, and all paintings and sta
in a public hall; provided. the property SO
exempted be not leased for purposes Of prf-
vate or corporate profit or income. There
Pc 70 I'M Iroo tshs1on hsr
be exempt from taxation for period of ten
years from the date of its completion. any
railroad or part OF railroad that shall be
constructed and completed subsequently to
January 1 1903, and prior to January 1,
1909. This exemption shall include and
apply to all rights of way, roadbeds, sitlings
rights of way, roadbeds or sidings: and to
all dcpots, station-houses, buildings. cree
lions and structures appurtenant to such
| railroads and the operation Of the same j;
| but shall not include tho depots. warehouses,
station-houses and other structures and APP
| purtenances nor the land upon which they
are erected at terminal points, and for which
franchises have been granted and obtained
whether same remain the property Of the
4 present owner or owners, or be transferred
4 or assigned to any corporation or corpora
! f10nS.s narS0n
provided further. that this exemption shall
! not apply to double tracks, sidings, switch
ments, which may be constructed by rail-.
| roads now in operation within the state
1 other tsan extensions ar new lines con
structed by such railroads. There shall be
exempt from taxation the legal reserve OF
\ life insurance companies organized unde:
the laws of this state. The property or real
estate belonging to any military Organiza
ton of the State of Louisiana which Is used
! by the State National Guard or militia foi
| military purposes. such as arseHals or ar
mories. while so used, shall be exempt from
taxation. There shall also be exempt from
taxation loans made upon the security Of
mortgages granted upon real estate situated
| in this state. as well as the mortgages
granted to secure said lo;lns and the notes
bonds or other written Instruments evi
deneing the said loans, whether in ths
hands of the mortgagee, or his or theil
transferees: and all loans made BY life in
surance companies to their policy holders
upon the sole security of policies held b,
| the borrower in the company making thu
| loans. as we'll as all netcs or other writer
instruments, eyidencing such loans; pro
vidcd, that In the case Of loans upon poll
cies of life insurance, as aforesaid, the rat,
Of interest charged upon such loans doe,
4 not exceed per cent per annum discount
The capital, surplus and personal estat,
of every corporation organized after Nov
cmber %. 1912, In this state for the sol
country property situated IN Louisiana d
n rate of interest not to exceed 9 per cen
net TO the borrower, with power to negotiat
and handle bonds and securities issued b,
the various parishes and local districts AM
municipalities OF the State Of Louisinn
I shall be exempt from taxation for twent,
years from the date Of the organization 2
panies shall have a full-paid cash capita
stock of not less than $250,OOO; and, Pre-
vided further, that in ease any such col
poratiOn shall on any loan charge the boz
rover more than 6 per cent interest," whetl
err by way OF commission. discount or Other
wise, it shall forfeit the entire exemption
herein granted; and be subject to tnxatio
from the time 1t makes such loan and an
such corporation handling or ncgotiatin
any securities other than those hercinaboy
mentioned shall incur IL like forfeiture.
No such corporation shall have power
receive any money on deposit or to do
banking business Of any sort, but all sue
! corporations shall De under the control I'm
| supervision of the Examiner OF State Bank
z whose duty It shall be to report to tn
Attorney General any violation Of the COZ
2 dltl0n OF this exemption.
1T Steamship companies organized as hereil
Q after SET forth, together with their capt.;
r stock ansi all their property, e0rporeai ain
c incorporeal, shall be exempt from all taxs
1 and licenses. state. parish, levee and nun
: cipal. both general and special, exclusive
t wharfage. shed or leycf dues, for fiftee
G years from the date of fling with the Sc
t rotary of State proof that their authorize
: capital stock has been paid in full in cas-
No sueh steamship company shall hay
q the benefit OF this Constitutional 5nrovisi6
z except upon the following conditions:
u First-That such company shall ha,
e been organized and the whole Of Its autho
i lied capital stock paid In cash before Jal
e uary /, 1915.
j. Second THAT such company shall
r domicilcd in the City of New Orleans,
d In some other port Of this state.
Il Third--That such company shall have
!. capital stock of at least 5000 900, payab
If only in cash.
S Fourth-That IL shall be provided in ii
" charter of the company that no corporate
n or firm or individual shall own or cOntrt
Is either directly or indirectly, more than on
y twentieth of the capital stock of the col
d paEy: and that all pooling agreements al
s. | voting trusts between the stockholders
Il | control the corporation shall be absolute
i, null and void and no stock held In any SUI
e. pool or voting trust shall ever be voted
" any corporate election or meeting.
L. Fiftlf--That the capital stock Of each CO..
1t pany shall be open to public subscription
rs public advertisements in the New Orlea
a newspapers for at least three months befO
ii thu, books are closed, and Ii ovcr-subScrlb
ar shall ha snuortionpd among the sfIbScribe