St. Tammany farmer. [volume] (Covington, La.) 1874-current, 1920-10-16

| dues, for fifteen years from the date
of fling with the Secretary of State
proof that their authorized capital
stock las been paid in full in cash.
No such steamship company shall
have tue benefit Of this Constitution
al provision except upon the follow
ing conditions:
Firsr-That such company shall
have been organized and the whole
of its authorized capital stock pa d
in cash before January LIST, 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
have a capital stock Of at least three
million dollars, payable in cash.
Fourth-That it shall be provided
in the charter of the company HAT
no corporation, firm, or Individual
,ha.. own OF control, either dire lily
CT indirectly, more than one-cWent!-
eth of the capital stock of the con.-
pany; and that all pooling agree D
ments and voting trusts between the
stockholders to control the corpora
ton shall be absolutely null anil
void ond no stock held in any such
pool cr voting trust shall ever Ge
voted at any corporate election ur
meeting.
Fifth-That the capital stock If
zach company shall be open to public
sL subscription by public a1vert'k"-
ments in the New Orleans naWspal
els for at least three months hes)re
he books are closed, and if over
subscribed shall be apport' ,ned
an.one the subscribers.
Sixth-That all vessels operated
by said company shall be common
carriers on every voyage unless the
whole capacity of the ship shall be
chartered for particular voyage or
voyages for a particular purpose.
1t shall be lawful for companies
so Organized il addition to the pow
ers .1ow provided by the laws Of the
State TO incorporate into Their char
ters ali or any Of the following pow
ers:
Fiyst-To build, charter or pur-
chase vessels.
Se2opd-To insure goods, wares
and merchandise carried on their
own bottoms against fire and per!ls
Of the sea.
Thild-To build, own and rent
and operate shipyards, docks, piers,
wharyes and warehouses for the
transaction of their business.
Fourth-To trade with foreign
sountlies, including the foreign pos
sessions of the United States, by ex-
porting cargo carried thereto in their
vessels, and to import from foreign
countries, including the foreign pos
sessions of the United States, in their
own vessels cargo for sale or "a
change in the United States, but no
ship sr such company shall be laden
with the company's cargo to the ex-
clusion of cargo offered for such Voy-
age D5 the general public, and sueh
cargo offered by the general pubic
shall have preference on all voyages
for which it is offered.
Fifth-To authorize corporations,
foreign and domestic, to subscribe
to and own shares Of their capital
stock, not however in excess of tue
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-
emption herein granted. One such
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 Of the company to the effest,
accompanied by a verified trial bal
ance III the company's books.
Eaon of said corporations shall
possess the power Of eminent domain
for the purpose of acquiring land on
which to erect q plant to build and
repair vessels.
There shall be exempt from STAGE,
parish and municipal taxation for a
period Of ten (10) years from Janu-
airy L, 1921, all buildings, including
machinery and appurtenances locat-
ed thereon, or other improvements
constructed for manufacturing com
merclal and business purposes on the
lands CT the Navigation Canal, the
title of which is or may be held by
the Board of Commissioners of the
Port c. 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, that
not less than twenty-five Thousand
($25 C00) Dollars shall lbe invested
in the physical property of any such
enterprise, and further provided not
less :1an twenty-five (25) persons
shall ne constantly employed thereon
Section 2. Be it further resolved
etc, rrat on the official ballot to be |
used 1T said election shall be placed |
the words: For the propose1 |
adding to Article 230 OF |
the Constitution Of this State certain |
from taxation as to in |
dustries 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-
tons from taxation as to industries |
located on the Navigation Canal,
Now HrIaauc ond aaoh aIon+or oh n ~ n