The Madison journal. (Tallulah, Madison Parish, La.) 1888-current, 1920-09-04


ores isat ion Of the state OF Louisiana
oD.rs Or mIiitl. for military purposes.
a = So: :s'' :: .s =. f,e1 ,.s"t,o"'
nsss sAan ehss - exempt from tai.
ssbsa. isAss ns6s SDsa the ssourty 81
..,s;. $780, :., :'s. r req =. .' ~:
mortgages granted 10 secure said Ioar'
and the potea bonds or other written
Instruments e,idencing the sAid lon; :.
whether In the hands OF the mortgage:
or his or their ;ransfer.es. and an
loans made by life insurance oornpani-s
to their policy olders upon the t0'e
security Of policies held by the Dor
loans ss well as all notes or other
! written Instruments. evider cling fuch
loane. provided. that N IN. case OF
loan: ,S SpSs Poh n. 1 1s, ' Of 'ni in,er-s,
, charged upon such loans does not eI-
ceed FIVE per cent t5'I per annurh hs-
rount
.s,at. Of every corporation orgAnizrd
after November 2:rd 1912. IN this state
for the sole purpose OF lend.ns
properly situated IN Louisiana al a
rate Of interest not TO exceed SIX per
rent (sT) net 10 N. borrowef WIN
power 20 Dsgotiate ana handle oohds
and securities issued by the various
parishes and lo~a! districts and mu-
| Inequalities Of the State OF Louisiana
shall BE exempt from taxation Tor
!~enty t:2 years from n;d me "on 6a,e o.
provided that said companies shall
| have a full-paid cash capital stock oi
aci less than S25G000, and. provided
| further. that in case any such oorpor-
| alton shall on any loan chArge the Dor
| rover more than SIX per cent interest,",
/ whether by way OF commission. DIS
| count or Otherwise II shall forfeit The
entire exemption herein granted and
! be subject 10 taxation from the time !,
makes surh ioan. and any such COZ
! poration handing or negotiating any
| securities other than those here! ma bcve
! mentioned ehall incur like forfeiture.
| No such corporation shall have power
! ~ receive any money on deposit or 20
| 10 a baking business Of any sort but
/ all such corporations shall be under
1 the control and supervision Of the En-
aniner Of state Banks. whose duty II
shan be 90 report 70 the Attorney
General any violation Of the condition
Of this exemption.
Steamship comPanies organized as
hereinafter Get form. together with
their capital stock and all their prop
erty. oorporea! and inCorY'r-al shan
be exempt from 49, 'ares and Licenses
STATE parish. I..-- and III ic;pai both
general and special. exclusive OF wharf
years from The date 81 sung with tie
Secretary OF state proof that their
authorized capital stock has been paid
I in fvll in cash.
No such steamship company shall
have the BENEFIT Of this Constitutional
provision except upon the following
| conditions
| F.rst-That such company shah have
been organized and TIE whole OF IS
authorized capita! STOCK paid In cash
| h~sore January Ist 1916.
| Sv~oEd- That such company - all be
domiciIed IN thu city Of Nv Orleans.
or In so.1. othcs port OF this State.
Third-That such company shaii have
a capital stock of at least ,hr.- mil
| lion dollars payable on!y IN cash.
Pour,h-That 81 that, b. prov c-d in
the charter Of the company that no
! corporation. or nm or i1diyIdua! shall
own or control. either directly or in
the Ditil stock Of the company and
that all pooling agreements and sbtins
trusts between the stocahoiders TO
.-ontrol the corporation shall be Also .
luteIy null and void and 10 stock h..A
In sny such pool or voting trust AL
ever be ,ot d At Any corporat. slection
F'ftsWfla, IN. capita, stock Of each
company shall D. open 70 public cub
s.riptIon by public advertisements In
the E"w Orleans newspapers s<or at
are closed and II over-subsonted saaii
be erIortloned among the Subscribers.
/ SlKIT- That al vessels operated by
laid company shall he common carriers
;-a~tty Of TIE s'ip shall be chartered
:or . particular voyage Or voysges for
particular purpose
IL shall be iasfui for companies 20
ssgay.s.d In addition 70 T.. Powers
..s0 provis.d by the A~s Of the Stat
" Incorporate iIO nsfr char essS A. -
k,s~"T. ' Ssi,1 :a.cs.s ., ,...A..-
s..osA-Ts ..surs soeds v>r.s ..A
0sreh ene:ss carried IN their svA bot
hir@fo bsiid. svn and rent ssd
s1srsss shipyaros. dock& pisrss
~hsrvsa. and warehouses for the tsanA
action Of their business
Feu,,l.EI. trade With foreign .oan
"f the United StateA By exporting
Arso carried thereto Ia their own Ses
sela and to import from foreign couL
Of the United States in their own wee
ssis cargo for saIe or sIchange In a.
-nitcd states. but no chip or such
company shall be laden with the com
| panys own cargo 20 the exclusion o!
ergo offered for such voyage by the
general public. and such cargo offered
ny the general public shall have pref
ccrr.rS on all voyages for which II IL
| Tth-To authorize corporations
foreign and domestic. 10 subscribe TO
not however IN excess of the limitation
above provided.
No leased property or chartered ship
shall be within the exemption herein
4
1 porations operated in the coasting
trade Of the United states. or operated
| setween ports OF the United States
| other than Louisiana ports. and foreign
countries. not including the foreign
Possessions Of the United States BE-
within the exemption herein granted
One such voyage In any year shall
| subject the vessel making the VOYAGE
TO TAXATION for that year.
The proof above required 60 be nled
With the Secretary OF State that tho
auth or!Ied capital stock has been paid
In cash shall be the Joint affidavit Of
the president and secretary of the
! company 10 the fleet. accompa nj - by
verified trial bflanos of the company's
| tooka
Each Of ssid corporations shall DOS.
sess the power OF eminent domain for
the purpose OF acquiring land on which
70 erect q plant TO bsiid and repair
| vtssels
Their. stall be exempt from State.
parish and municipal taxation for a
l. 1871. all buildings. including ma
chinery and a<Durtcnanccs located
| thereon or other improvements con-
, structed for manufacturing CONNER
cial and business purposes on the
lands OF the Navigation Canal the
title Of wnich 10 or may be held BY the
board OF Commissioners Of the Port OF
New Orleans, rs an agency Of the State
| or Louisiana, md which may be lea sed
| from said Board by any persons or cor.
porstions conducting business thereon;
PROVIDED that not less than Twenty
nve thousand Dollars s25 0GO) shall
! ne invested In the physical property
| OF any such enterprise. and further
provided not less than TWENTY-FIVE (asI
persons shall be constantly employed
thereon.
Section J. Pc Il further resolved
| etc, That on the official baIlot % -