St. Tammany farmer. [volume] (Covington, La.) 1874-current, 1920-10-09

dues, for fifteen years from the date
OF fling with the Secretary OF State
proos that their authorized capital
stock las been paid in full in cash.
No such steamship company shatl
have the benefit of this Constitution
al provision except upon the follow
| ing conditions:
First-That such company shall
have been organized and the whole
Of its authorized capital stock paid
| in cash before January 1st, 1915.
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 ..tat
| no corporal: n, firm, or individual
| lha,l own or control, either dire '-ly
| CT Indirectly, more than one-tWent'-
eth OF the capital stock of the con.-
pany, and that all pooling agra7-
ments and voting trusts between the
stockholders to control the corpora
ton shall be absolutely null AMI
void end no stock held in any such
] pool or voting trust shall ever lie
voted at any corporate election "r
meeting,
Fifth-That the capital stoc! Of
| zach company shall be open to public
Subscription by public a 1VertE"-
lnents in the New Orleans n3Wspap
q S for at least three months be-)re
me books are closed, and IT over
Isuusl:ibed shall be appors >ned
anone 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 De
chartered for particular voyage OF
voyages for a particular purpose.
1t shall be lawful for companies
SO organized in addition to the pow
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 par
chase vessels.
Se,opd-To insure goods, wares
and merchandise carried on tner
Town bottoms against fire and pef!ls
Of the sea.
Thild-To build, own and rent
land operate shipy ards, docks, PIERS
gharyese and arehouses tor tho
ltransn1tion of their business
Fourth-To trade with foreign
Icounti les, including the foreign pos
sessions of the United States, by eA-
porting cargo carried thereto IN incl:
vessels, and to import from foreign
Icountries, including the foreign pos
sessions of the United States, in their
own vessels cargo for sale or sS-
Ichangc in the United States, but no
lship or such company shall be laden
with the company's cargo to the ex-
clusicn of cargo offered for such Voy-
age Dy the general public, and such
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 exemptlon
herein granted, nor shall vessels OF
such corporations operated in the
coastinz trade Of the United States,
Tor operated between ports of the
United States, other than Louisiana
Iports, and foreign countries, not IN
GLIDING the foreign possessions 81
the United States, be within the ex-
emption herein granted. One such
tvoyaga In any year shall subject The
Y vessels making the voyage to tax
alton for that year.
The proof above required to De
fled with the Secretary of State that
) that the authorized capital stock mas
been paid In cash shall be the joiat
affidavit OF the president and secre'
tary Ut the company to the effe;t
accompanied by verified trial bal
ance III the company's books.
Eacn of said corporations shall
possess the power Of eminent domain
, 1 for the purpose Of acquiring land on
| which to erect q plant to build and
repair vessels.
: Thece shall be exempt from STAGE
parish and municipal taxation for
, period of ten (1O) years from Janu,
} airy L, 1921, all buildings, including
J machinery and appurtenances locat,
] ed thereon, or other improvement
: constructed for manufacturing, com
J merclai and business purposes on tn:
) lands CT the Navigation Canal, tn:
, title Of which ia or may be held by
= 1.-THE Board of Commissioners of the
: Port o. New Orleans, as an agene,
, of the State Of Louisiana, and which
T may be leased from said Board o1
i, any person or corporations conduct,
ing business thereon; provided, thai
, mot less than Twenty-Five Thousand
SIS G00) Dollars shall be invested
n the physical property Of any such
! kenterprise, and further provided not
ess s1an twenty-five (25)* persons
shall be constantly employed thereon
: Section 2. Be it further resolved
| Ietc., mat on the official ballot to be
fused at said election shall be placed
1.-THE words: "For the propose1
: amendment adding to Article ESQ OF
: the Constitution Of this State certain
exemptions from taxation as to in.
dustries located ON the Navigation
Canal, New Orleans" and the words
l"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