The Natchitoches enterprise., 1920-09-09

NOT ne votes Tor or against ehe amend
mert.
r. F. WALKER.
Speaker of the House Of Representa-
tives.
HEWITT BOuANCHAUD,
Lieutenant Governor and President OF
the Senate.
Approved: July Z. 1920.
JEO NJ. PARKER,
Governor of the State of Louisiana.
JAMES J. BAILEY.
Secretary of State.
ACT NO. 153.
House Bill No. 376-Hy Mr.. Claiborne.
Substitute for House Bill No. 1919.
JOINT RESOLUTION.
Proposing an amendment to Article 230
of the Constitution OF the state OF
Louisiana relative to eXempting GER
tain industries located on tho naviga
tlon Canal, New Orleans.
Section /. Be II resolved by the Cen
eral Assembly Of the State Of Louis
lana twO-thirds Of all members elected
to each House cOncurring. That the fol-
lowing amendments to the Constitu-
mitted to the electors Of the State at
the next Congressional Election to be
held on the first tuesday after the first
Monday in November, 1920. making
Article 23o. The following shall be
exempt from taxation. and no other.
viz: All public property. places of re-
ligious worship. or burial: the rectories
grounds thereuntO appurtenant. used
exclusively as residences for the min
isters in charge of such churches all
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
fnf Inv tNay 80 tad h
such library. all books and philosophi-
cal apparatus. and all paintings and
statuary OF any company or assOcia-
tion. kept in a public hall: provided,
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
alton for a period Of ten years from
the date of it's completion. any railroad
or rart Of railroad that shall be con-
structed and completed subsequently to
January /. 1908. and prior to January /.
1909. This exemption shall include and
apply to all rights OF. way. roadbeds.
sidings. rails. and other superstruc-
lures upon such rights of way. road
beds or sidines; 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 dcpots, ware
houses, stationhouses and other struc-
lures and appurtenances nor the land
upon which they are erected at ter
minal points, and for which franchises
have been granted and obtained /:
whether same remain the property Of
the present owner owners. be
transferred or assigned to any cor
poration or corporations. person or per-
thcr. that this exemption shall not
apply to- double tracks. sidings.
switches. depots or other improvements
or betterments. which may be con-
structcd by railroads now in operation
within the State. other than extensions
or new lines constructed by such rail-
roads. There shall he exempt from
taxation the legal reserve OF life insur-
ance companies organized under the
laws of this State. The property or
real estate belonging to any military
organization of the State of Louisiana
which is used by the State National
Guard or militia for military purposes
such as arsenals or armories while so
used. shall be exempt from taxation.
There shall also be exempt from tax
alton, loans made upon the security Of
mortgages granted upon real estate
situated in this state. as well as 'he
mortgages granted to secure said loans.
and the notes. bonds or other written
instruments evidencing the said loans.
whether in the hands Of the mortgaEec,
or his or their transferecs; and all
loans made by life insurance companies
to their policyholders. upon the sole
security Of policies held by the bor
loans, as well as all notes or other
written Instruments. evidencing such
loans; provided. that in the case of
leans upon policies Of life insurance.
charged upon such loans does not ex-
ceed hve per cent (b%p Per annum dis
count.
estate of every corporation organized
after November 23rd. 1912. In this State
for the sole purpose OF lending
money on mortgages on country
property, situated IN Lou1sisna a., at
cent (6eol net to the borrower, with
power to negotiate and handle bonds
and securities issued by the various
parishes and local districts and mu-
shall be exempt from taxation for
twenty (20) years from the date Of
the organization Of said companies;
provided; that said companies shall
not less than $250,oO0; and. provided
further. that in case any such corpor-
alton shall on any loan charge the bor-
rover more than six per cent interest,
whether by way Of commission. dis
count or otherwise. 1t shall forfeit the
entire exemption herein granted, and
be subject to taxation from the time il
makes such loan; and any such cor
poration handling or negotiating any
securities other than those hereinabove
mentioned shall incur a like forfeiture.
No such corporation shall have power
to receive any money on deposit or to
do a banking business of any sort. but
all such corporations shall be under
the control and supervision of the Ex-
hminer Of State Banks. whose duty it
shall be t0 report to the Attorney
General any violation Of the condition
Steamship companies organized as
hereinafter set forth. together with
their capital stock and all their prop
be exempt from all taxes and licenses,
State, parish. Jcvce and n:Gr icipal. both
general and special. et4ihsise af Eharf-
age. shed or leyee du.., iof hftesn
Secretary Of State proof that their
in fpll In cash. :.
No such steamship company shall
have % the beneat OF this con'titntional n
conditions:
First-That such company shall have
been organi.ed and the whole OF its
seore sayta it, 1915 paid IN cash
Second-That such company shall be
domiciled in the City Of New Orleans,
or in some other port of this State.
.satk such of s es. hrsa 1hs %
lion dollars payable only in cash.
Fourth-That II shall be provided ir
the charter of the company that no
corporation. or firm. or individual shall
own or control. either directly or in
directly. more than one-twentieth Of
the capital stock Of the company; and
that all pooling agreements and voting
trusts between the stockholders to
control the corporation shall be abso.
lutely null and void and no stock held
In any such pool or voting trust shall
ever pc voted at any corporate election
Fifth-fhat the capital stock Of each
company shall be open to public sub
scription by public advertisements in
the New Orleans newspapers for at
least three months before the books
are closed, and II over-subacribed shall
be apportioned among the .ubscri6ers:
said company shall be common carriers
on every voyage unless the whole ca
paoi!y af The ship shall be chartered
a particular purpose.
II shall be lawful for comnanies 90
organized In addition to. the powers
now provided by the laws Of the state
to incorporate inte their charters ali 81
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