The Natchitoches enterprise., 1920-09-16

indicate. a. provided in tho genera
election laws Of the State. whether O.
not he votes for or against the amend
ment.
r. F.. WALKER.
tives.
HEWITT BOUANCHAUD.
Lieutenant Governor and President o.
the Senate.
Approved: July Z. 1920.
JNO. NJ. PARKER
GoVernor of the State of Louisiana
A true copy:
JAMES j. BAILEY.
Secretary of State
ACT NO. 153.
House Bill No. 37s-,y Mr. Claiborne
Substitute for NOuSe Bill No l9o
JOINT RESOLUTION
proposing an amendment to Article 23(
OF the Constitution Of the State OF
tain Industries located on the naviga
ton 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
ton Of the State of Louisiana be sub
mitted to the electors of the State at
the next Congressional Election to be
on tine e sst as fser the
SAID Article read as follows:
Article 23O. The following shall be
exempt from taxation. and no other.
VIZ: All public property. places of re-
and parsonages of churches and
grounds thereunto appurtenant. used
exclusively as residences for the min
sters in charge of such churches ali
charitable institutions. all buildings
and property used exclusively for pub
lc monuments or historical collections
colleges and other school purposes, the
,eal and personal estate Of any public
ibrary. and that OF any other library
association used by or connected with
'uch library. all books and philosophi-
al apparatus. and all paintings and
tatuary OF any company or associa-
!on. kept in public hall; provided
ne ne property so exempted be not leased
or purposes Of private or corporate.
roht or income. There shall also be
xempt from taxation household prop
rty to the value of five hundred dol
ars There shall be exempt from tax
he date OF its completion. any railroad
r part OF railroad that shall be con-
tructed and completed subsequently to
anuary ad ! 1905. and prior to January 1,
~. ~. rms exemption shall include and
pply to all rights OF way. roadbeds.
dinEs. rails and other superstruc-
ires upon such rights of way, road
eds or sidinEs: and to all depots. sta
on-houses. buildings. erections and |
appurtenant to such rail
Dads and the operation of the same; |
lt snail not include the depots, ware
ouses, stationhouses and other struc- |
res M ana appurtenaRces nor the land |
insl points, and for which franchises
I've been granted and obtained;
neither same remain the property Of
le present owner or owners. or be
ansierred or assigned to any cor
Inn
ms whomsoever. and. provided fur
er, that this exemption shall not
'ply to- double tracks. sidings.
Vitches. depots or other improvements
ructed by railroads now in operation
Thin the State. other than extensions
new lines constructed by such rail-
ads: There shall be exempt from
nation the legal reserve of life insur-
zee companies organized under the
We of this State. The property or
al estate belonging to any military
of the State of Louisiana
1ich Is used by the State Nationatl
lard or militia for military purposes,
ch as arsenals or armories, while so
cd, shall be exempt from taxation
ere shall also be exempt from tax
on. loans made upon the security of ,
,rtEages granted upon real estate
'rtgages granted to secure said loans.
the notes bonds or other written
truments evidcnring the said loans.
ether in the hands of the mortgages,
ms or their transferees; and all
ms made by life insurance companies
their policyholders. upon the sole .
urity. OF policies held by the bor- i
yer in the company making the !
ms, as well as all notes or other t
ne; provided. that in the case Of .
ms upon policies of life insurance, q
aforesaid, the rate of interest :
rged upon such loans does not ex- n
d five per cent $50 per annum dis v
he capital. surplus and personal L
ate of every corporation organized
er November 23rd. 1912. in this State a
the sole purpose Of lending Il
perty situated in Louisiana at 4
2 of interest not to exceed six per :,
t (6T) net to the borrower. with v
'er to negotiate and handle bonds N
securities issued by the various "
ishes and local districts and mu- t.
palities of the State of Louisiana ct
II be exempt from taxation for m
nty (2e) years from the date of b.
organization Of said companies;
e full-paid cash capital stock Of d
less than $25O.0Oo; and, provided al
-her. that in case any such corpor- ST
N shall on any loan charge the bor- ii
er more than six per cent interest. v,
Mt or otherwise, II shall forfeit the pt
re exemption herein granted. and fc
subject to taxation from the time it -
res such loan: and any such cor A
lrities other than those hereinabove iii
toned shall incur a like forfeiture | m
D such corporation shall have power sc
eceive any money on deposit or to in
banking business OF any sort. but Go
such corporations shall be under
control and supervision Of the Ex- Ii
ner of State Banks. whose duty it
! be to report to the Attorney
eral any violation of the condition Sp
his exemption.
eamship companies organised az
matter set forth. together with
capital stock and all their prop
, corporeai and incorpcreal. shall A
xempt from all taxes and licenses.
'ral and special. exclusive Of wharf -
shed or levee dues. ior fifteen
s from the date Of nling with the
etary of State proof that their
1rized o, capital stock has been paid
such steamship company shall
the heneft Of this constitutional
ision i:iov except IRaa the following
such company shall have
organized and the whole Of its
orized capital stock paid in casI
re January 1st. 1916.
,ond-That such company shall be
ciied In the City Of New Orleans
some other port Of this State.
ird-That such company shall have
pital stock Of at least three mil
dollars. payable only in cash
nrth-That Il shall be provided in
charter OF the company that no
or control, either directly or in
tly. more than one-twentieth of
apital stock Of the company; and
all pooling agreements and yQting
) between The st9ckhplders ta
oil the corporation shall he absos
: null and void and no stock held
y such pool or voting trust shall
be voted at any corporate election
,eting.
th-That the capital stock Of each
my shall be open to public. sub.
ion by public advertisements in
sew Orleans newspapers for ALL
three months before the books
osed. and II Cyer.subscribed shall IL
porttoned among the subscribers. l.
h-That all vessels operated by
ompany shall be common carriers
cry voyage unless the whole ca.
Of the ship shall be chartered
parucuIar voyage or voyages tor
.icular purpose.
hall be lawful for companies 20
Ixed In addition to the powers
rovided by the laws Of the State
,rporate into their charters ali Or Il
the following powers:
ito build. charter or purchase