The Natchitoches enterprise. (Natchitoches, La.) 1888-1965, 1920-10-14

| approved: July Z, 1920.
| JNO. NJ. PARKER.
Governor of the State Of Louisiant
| A true copy:
JAMES j. BAILEY,
Secretary of State.
ACT NO. 1873.
House Bill No. 376-By Mr.. Claiborne
substitute for House Bill No. 1919.
JOINT RESOLUTION.
| proposing an amendment to Article 20
of the Constitution Of the State o
! Louisiana relative to exempting Ger
tain Industries located on the naviga
| ton Canal, New Orleans.
Section l.. Be 1t resolved by the Gen
eral Assembly of the State of Louis
I lana. two thirds of all members +lecte,
to each House concurring, That the fol
| lowing amendments to the Constitu
| non OF the State of Louisiana be sub
mitted to the electors of the State a
the next Congressional Election to b.
| held on the first Tuesday after the lirs
Monday in November. 1920. making
| said Article read as follows:
Article 23o. The following shall b,
exempt from taxation. and no other
VIZ: All public property. places of re.
liGious worship. or burial. the rectories
and parsonages of churches and
grounds thereunto appurtenant. used
exclusively as residences for the min
i isters in charge of such churches. al
charitable institutions, all buildings
and property used exclusively for pub.
lie monuments 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 connected with
such library, all books and philosophi-
cal apparatus. and all paintings and
statuary Of any company or associa
ton. kept in public hall; provided.
the property 80 exempted be not leased
for purposes of private or corporate
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 a period Of ten years from
the date Of it's completion. any railroad
or part Of railroad that shall be con-
strurtcd and completed subsequently to
January !. 1905. and prior to January l.
1909. This exemption shall include and
apply to all rights Of way. roadbcds.
sidings. rails. and other superstruc-
lures upon such rights of way, road
beds or sidings; and to all depots, sta
tion-houses, buildings, erections and
structures appurtenant to such rail-
roads and the operation of the same;
but shall not include the depots. ware
houses, stationhouses and other struc-
lures and appurtenanccs nor the land
upon which they are erected at ter
minai points. and for which franchises
have been granted and obtained:
whether same remain the property Of
the present owner or owners, or be
transferred or assigned to any cor
poration or corporations, person or per-
Their, that this exemption shall not
apply. to double tracks. sidings,
switches. depots or other improvements
Or betterments. which may be con-
'tructed by railroads now in operation
within the State. other than extensions
Or new lines constructed by such rail
'osds. There shall be exempt from
.axation the legal reserve OF life insur-
lnce companies organized under the
avs of this State. The property or
zeal estate belonging to any military
organization of the State of Louisiana
which is used by the State National
iuard or militia for military purposes,
lsed. shall be exempt from taxation |
There shall also be exempt from tax
ton, loans made upon the security of |
MORTGAGES granted upon real estate |
Mortgages granted to secure said loans. |
md the notes. bonds or other written |
Instruments evidencing the said loans. |
whether In the hands Of the mortgagee.
oans made by life insurance companies
o their policyholders. upon the sole
ecurity of policies held by the bor-
over in the company making the
pans, as well as all notes or other
pans; provided, that in the case of
aans upon policies of life insurance.
$ aforesaid. the rate of interest
harsed upon sucn loans does not eX-
eed five per cent (5%) per annum dis
cunt.
The capital, surplus and personal
state of every corporation organized
fter November 23rd, 1919, in this State
ne on '0s R9esss:' on n e saaas
roperty. situated In Louisiana at q
ate OF interest not to exceed six per
emit (6es) net to the borrower, with
over to negotiate and handle bonds
nd securities issued by the various
arishes and local districts and mu-
icipalities Of the State Of Louisiana
hall be exempt from taxation for
re Organization Of s said Tn" com ua.n g;
rovided. that said companies shall
ave a full-paid cash capital stock of
Of less than $260.000; and, provided
shall ss any loan any charge tho Bo
,wer more than six per cent interest,
neither by way of commission, dis
'unt or otherwise. 1t shall forfeit the
ntire exemption herein granted, and
axes such loan; and any such cor
,ration handling or negotiating any
other than those hereinabove
e Hn s shall incur a Ike forfeiture.
receive any money on deposit or to
, banking business Of any Sort but t
l such corporations shall be under
e control and supervision of the Elk ]
lall be to report to the Attorney
eneral any violation of the condition 8
this exemption.
Steamship companies organized as
cir capital stock and ali their prop
ty, corporal and incorporeal, shall
exempt from all taxes and licenses,
ate, parish. Icyee and MUIR icipal. both
re, shed or levee dues. Tor fifteen
airs from the date Of Ming with the (
cretary of state proof that their
lthorieed capital stock has been paid
full in cash.
No such steamship company shall
We the benefit of this Constitutional
DIVISION except upon the following
nditions:
such company shall have
thorized capital stock paid in cash
fore January 1st 1916.
Second-That such company shall be
miciled in the City Of New Orleans,
such ccmpany shall Sav.
capital stock Of At least three mill
= dollars; payable only in cash.
Fourth.That Il shall be provided in J
or Arm. or Individual shall
n or control, either directly or In
'ectly. more than one-twentieth of
capital stock Of the company; and
ltrol the corporation shall be abso.
ely null and void and no stock held
any such pool or voting trust sha
n be voted at any corporate election
meeting.
the capital stock of each
npany shall be open to public SUBJ
iption BY public advertisements in
New Orleans newspapers for at
st three months before the books
closed. and II over-subscribed shall /
apportioned among the subscribers.
ixth-That all vessels operated By
company shall be common carriers
every voyage unless the whole ca.
ity Of the ship shall be chartered
q particular voyage or voyages for
articular purpose.
t shall be lawful for companies 30
anized In addition to the powers
' provided by the laws Of the State
incorporate into their charters ali or
of the following powers: ii
irst-To build. charter or purchase
NJ Il