St. Tammany farmer. [volume] (Covington, La.) 1874-current, 1920-09-25

| dues, lDr n1Leeu years IRON the udte
OF fling with the Secretary OF State
proc. that their authorized capital
stock las been paid n full in cash.
No such steamship company shall
have the benefit OF this Constitutions
al provision except upon the follow
ing conditions:
Firsr-That such company shall
have been organized and the who
of its authorized capital stock pad
in cash before January 1st, 1916.
| SacoGd-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 q capital stock Of at least three
| million dollars, payable in cash.
Fonrth-That it shall be provided
in the charter of the company HAT
no corporate N, firm, or individual
,nal own Or control, either dire lily
Cl indirectly, more than one-twenti-
eth OF the capital stock Of the cou.-
Dany; and that all pooling agree
| ments and voting trusts between the
stockholders to control the corpora
void end no stock held in any such
pool CT voting trust shall ever Ue
voted at any corporate election "r
meeting.
Fitth-That the capital STOCK Ut
| zach company shall be open to public
subscription by public alVert's"-
ments in the New Orleans naWspap
els for at least three months bes3re
| ne books are closed, and il over
Subscribed shall be airport )ned
anCns the subscribers.
| Sixth-That all vessels operated
by said company shall be common
carriers on every voyage unless thu
whole capacity Of the ship shall be
chartered for a particular voyage or
voyages for a particular purpose.
| 1t shall be lawful for companies
\ so organized il addition to the DOW
ers low provided by the laws of the
State to incorporate into Their char
| ters iii or any of the following pow
ers:
First-To build, charter or pur-
chase vessels.
| Se:opd-To insure goods, wares
and merchandise carried on their
own bottoms against fire and perils
of the sea.
Thud-To build, own and rent
and operate shipyards, docks, piers,
wharves and warehouses for the
transaction Of their business.
| Fourth-To trade with foreign
| counties, 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 ~ such company shall be laden
with TIE companys cargo to the ey-
clusion of cargo offered for such voy-
age oy the general public, and such
cargo offered by the general pubic
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
coasting trade of the United States,
or operated between ports of the
| United States, other than Louisiana
ports, and foreign countries, not IN
Guiding the foreign possessions CT
| the United States, be within the eX-
L ~
voyage in any year shall subject the
vessels making the voyage to tax
alton for that year.
The proof above required to be
fled with the Secretary of State that
| that the authorized capital stock mas
been paid in cash shall be the joiot
affidavit of the president and secre-
| tary ct the company to the effect,
accompanied by verified trial BAL
ance III the company's books.
| Each of said corporations shall
possess the power Of eminent domain
for the purpose of acquiring land on
which to erect a plant to build and
| repair vessels.
There shall be exempt from Stase,
parish and municipal taxation for
period of ten (10) years from Jann-
airy 1, 1921, all buildings, including
machinery and appurtenances locat-
| ed thereon, or other improvements
constructed for manufacturing, COM
merclal and business purposes on tho
| lands CT the Navigation Canal, the
title of which is or may be held by
the Board of Commissioners of the
Port O. New Orleans, as 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 thu physical property of any such
enterprise, and further provided not
less slan twenty-five (25) persons
shall re constantly. employed thereon.
Section 2. Be it further resolved,
ETC., FGat on the official ballot to be
used at said election shall be placed
the words: For the proposed
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-
tions from taxation as to industries
located on the Navigation Canal,
New Orleans" and each elector shall