The Madison journal. (Tallulah, Madison Parish, La.) 1888-current, 1920-10-02

"A q
.asi estate belonging to Any military n
organization of the state OF Lou gu ian v
which is used by the state Nas.o.a' I,
r;uard or militia for military purposes, Il
-,,ch as arseuals or armorles, waile go
rsed shall be exempt from NdNa tI"r. a
Mere shall also b. exempt from taN Ii
a ton. loans made Ipon tne E,oI STATE
situated in this State, as wen hs nc 2
mortgages granted to secure SAID ;, ~. v
and the notes. bonds or othes ioo,a
whether in the hands of TIE mortsasee; {
or his or their transferees. anu al c
loans made by life insurance companIGs n
TO their policyhoiders. upon the soIe h
security Of policies held by the DOT
rover in the company making inc G
loans, as well as all notes or o si,cb !
loans; provided, that in the case OF {
loans upon policss Of life insurance I
as aforesaid. the rate or interest,"
charged upon such loans goes no. ale.
The capital. surplus ard personal
estate of every corporation 80. state
money on mortgages on country
property situated In Louislaha AZ
rate of interest not to exceed SIX per
cent (sgo) net to the borrower. WIFE
hover 10 negotiate and handle pohus
end securities issued by the various
parishes and local s aiStr'e of louisiana
mo- nraR he exempt from taxation for
twenty GOD years from the uate %.
the organization t o, s sa1u GIsp shall
bay. a full-paid cash capital STOCK o,
not less than s250.0o0; anu, proElaeu
further that in case any such SorPo
stion shall on any loan charge the Dor
rower more than six per cent interest,"
| whether by way OF commission uis-
| count or otherwise. 1t shall forfeit the
| entire exemption herein grahtel, anu
he subject TO taxation from the time It
| makes such loan; and any sich cor
poration handling or neSotlaunS any
securities other than those he srIlit"re
| No such corporation shall have power
| 10 receive any money on deposit or 70
do a banking business or an sort Soe
IN such corporations shall be uh1er
the control and supervision of the In
aminer Of state Banks 81 whose ,he Attorney aH
General any violation OF the cohoitioh
| Of this exemption.
Steamship companies organized as
hereinafter set forth. together with
cry, corporeal and incorpotsSl. shall
he exempt from Til taxes and licenses.
| S:ate parish, Icyee and nelT tspal, ootn
general ard special, exclusive Oh W Se.asn
Years from the date Of fling with the
Secretary Of State proof that their
authorized capital stock has been paid
; No such steamship company shall
/; ave the benefit Of this Consr tuttonIi
provision except upon the following
FirstUThat suth company shall have
| been organized and the whole OF US
ruthorizeJ capital sto * paid in cash
! | as:ore January lst. 1915.
5eoond-That ouch company shall BE-
| .iomiciled In the CITY o! New orleans
Or in some other port of this State.
d capitai STOCK of at least three mil
{ ion dollars. payable on!y in cash.
Fourth-That II shall be provided IN II,
!. he charter of the company that ne
,wn or control, either directly or in
y Directly. more than one-tSentitth OF
ne capital stock OF the company; ano
8 hat ali pooling agreements and. votinf
u rrsts between the stockholders t.
u ontrol the corpora bn shh-. De spso.
J utely null and void aud no stock heIc
c yer be voted at any corporate election
Fifth-Th.t the capital stock Of Zach
ompany shall be open to pubic SUP
} scriptton by public advertisements II
he New Orleans newspapers for a
east three Tonths before the tooki
ire CLOSED, ard II over-snbscribed shai
e apportioned among the subscribers
J. Sixtn-That all vessels operated d,
aid company shall be common carriers
. n cory voyage unl.sn sIe whole ca
lcity OF tbs s. ip shall be charters
,r particular voyage or voyages 10
! IL snail I've lawful fo- companies 8
.uau,s.d In addition - The power
r aSv pro Iidod BY the avs OF the Stat
y , INCORPORATE TITO .hsfr charters Ill c
a. nv OF the following powers:
d First--To build. charter or purchas
u .csseis.
o. ..3econd-To insure goods. WIRES an
r. merchandise carried In cher own DO;
= .oms against fire and peers OF the SEE
IT. perate shipysris. COCKS, pier
i, .-harves and warehouse Cor the tran-
ii: ction Of their business.
a. Fourth--ro trade with foreign ecu
the United States by exporttn
a. arso caIr:ei thereto ia thCir own ves
b. els, and TO import from foreign cout
q RES. Including the foreign possession
y, 4 the United States in their own vc'
n, | els cargo for sale or exchange In
", 'nitei States. hut no ship or sue
m ompany shall be laden with the con
.any's own cargo to the exclusion
,sc | argo offered for such voyage by u
= .eneral pubic, and such cargo onert
le- AZ the general public shall have pre-
ei | oforcd.
~, Fifta-To authorize corporation
h.. foreign and domestic. to subscribe
=. md own shares of their capital stoc
Ia aot however in excess of the hmitatic
ID | ABOVE provided
al. 10 leased property or chartered sh
E. granted. nor shall vessels of such &C
"A ! poratiors operated III the coestir
." trade of the United States. or opsrat'
between ports of the United State
To other than Louisiana ports. and foreit
IN countries, not including the foreit
, possessions Of the United States.
>, within the exemption herein granite
One such voyage in any year sht
subject the vessel making the voya,
TO taxation for that year.
nm The proof above required to be nj
me- with the Secretary of State that Z
auth orized capital stock has been pa
in cash shall be the joint affidavit
company TO the, effect. accompa MED
a verified trial balance OF the compan!
ne | books.
Each of said corporations .shau pc
sess toe power OF eminent domain
23e the purpose of acquiring land on viii
of to erect q plant to build and rep;
SER vessels
ga There shall be exempt from Sta
parish and municipal taxation for
en- period OF ten t10l years from Janua
uis- 1. 1921, all buildings. including m
tied ! chino-y and aepurteTances local
fol- thereon, or other improvements &C
itu- structed for manufacturing, comm
ub- / cial and business purposes on
at lands Of the Navigation Canal.
be title Of which 10 or may be held by
frst Board of Commissioners of the Port
Ing New Orleans, as nm agency of the st
OF Louisiana, ana which may be Leaf
be from said Board by any persons or @
nor. poratione conducting business there
re- provided, that not less than Twen
ries ave thousand Dollars (ss5.oo0) sh
and be invested In the physical prope
ised of any such enterprise. and furt
MIN provided not less than twenty-five
all persons shall be constantly emplo.
,ub- Section 2. Be II further resoly