The Era-leader. [volume] (Franklinton, La.) 1910-current, 1920-09-30

indicate, ~ provided In tho general
election laws Of the State, whether Or
not he votes for or against the amend
ment.
f. F. WALKER.
Speaker Of the House Of Representa-
tives.
HEWITT BOUANCHAUD.
Lieutenant Governor and President OF
Approved: July 7. 1920.
JEO. NJ. PARKER.
Governor Of the State Of Louisiana.
A true copy:
JAMES J. BAILEY.
Secretary OF State.
ACT NO. 1879.
House Bill No. 376-,y MIR. Claiborne
Substitute for House Bill No. 1919.
JOINT RESOLUTION.
Proposing an amendment to Article 230
Of the Constitution OF the State OF
Louisiana relative to cxcmpting GER
tain industries located on tho naviga
ton Canal. New Orleans.
Section T.. BE It resolved by the Gem
lana, two-thirds Of nil members elected
to each House concurring. That the fol-
lowing amendments to the Constitu-
ton OF the State Of Louisiana DO sub
mitted to the electors OF the State at
the next Congressional Election to be
held on the frst Tuesday after the first
Monday in November. 1920. making
said Article read As follows:
Article 23O. The following shall be
exempt from taxation. and no other,
W.: All public property. places OF re-
ligious worship. or burial. the rectories
and parsonages Of churches and
grounds thereunto appurtcnant. used
listers In charge Of such churches. all
charitable Institutions. all buildings
and property used exclusively for pub
lie monuments or historical collections
| colleges and other school purposes. the
real and personal estate Of any public
association used by or connected with
such library. all books and philosophi-
cal apparatus, and all paintings and
statuary Of any company or associa-
ton, kept in a public hall: provided,
the property 80 exempted be not leased
profit or income. There shall also be
exempt from taxation household prop
erty to the value Of FIVE hundred dol
lars. There shall be exempt from tax
alton for period Of ten years from
the date Of its completion. any railroad
or part Of railroad that shall be con.
structed and completed subsequently TO
January /, 1905. and prior to January /.
1909. This exemption shall include and
apply to all rights Of way, roadbeds,
sidings. rails. and other superstruc-
lures upon such rights of way, road
beds or sdings; and to all depots, sta
tion.houses, buildings, erections and
roads and the operation Of the same;
but shall not include the depots. ware.
houses, statiohhouses and other struc.
lures and appurtepances nor the land
upon which they are erected ut ter.
ninel points, and for which franchises
have been granted and obtainedi
whether same remain the property Of
transferred or assigned to any cor.
poration or corporations, person or pei
sons Thomsoever, and, provided fur
ther, that this exemption shall not
apply to double tracks, sidinss,
switches depots or other improvements
or betterments, which may be con.
structed by railroads now In operation
Of new lines constructed by such rail.
roads. There shall be exempt feom
taxation the legal reserve of lie insur.
ance companies organized under the
laws Of this State. The property Or
real estate belonging to any military
which IL used by the State National
Guard or militia FOR military purposes.
such as arsenals or armories. while 20
used, shall be exempt from taxation.
There shall also be exempt from tax.
alton, loans made upon the security Of
mortgages granted upon real estate
situated tn this state. a. we'll a. ne
and the notes. bonds or other written
instruments svidenctng the said loans,
whether In the hands Of the MORTGAGE
OF his or their transfereesi and all
loans made By life insurance cotnpaniel
TO their polfeyholders, upon the sole
security Of policies held BY the bor.
loans, 40 we'll as all notes or other
written Instruments, svldsncing sucl
teansj provided, that in the case Of
loans Upon polio les Of life insurance
~ Aforesaid, the rate OF interes
charged upon such loans does not ex.
coed Ave per cent {5%) per annum dis
coant ,
sfssf November 2srd, Isia, In thls STATE
for the sole purpose Of lending
money on mortgages on country
property. situated In Louislata at q
rate Of interest not to exceed six per
and securities issued by the various
parishes and local districts and mu-
inequalities OF the State Of Louisiana
shall be exempt from taxation fot
twenty (2O) years from the date OF
the organization Of said companies
provided, that said companies shall
have a &ull.paid cash capital stock Of
not less than S250,000i and. provided
further, that In case any such corpor-
alton shall on any loan charge the Dor.
rover moro than six per cent interest,
whether by way OF commission, dis
count or otherwise, 1t shall forfeit the
entire exemption herein granted. and
be subject to taxation from the time IT.
makes such loan; and any such cor
poration handling Or negotiating any
securities other than those hersinabove
mentioned shall incur D. like forfeiture
No such corporation shall have power
to receive any money on. deposit or to
do a banking business OF any sort, but
all such corporations shall be under
the control and supervision Of the Elk
aminer of State Banks. whose duty /,
shall be to report to the Attorney
General any violation Of the condition
Of this exemption.
Steamship companies organized al
their capital stock and all their prop.
erty, corporal and tncorroreal, shall
be exempt from uil taxes and licenses
State, parish, lovee and MUIR iclpal, both
general and special, exclusive Of wharf.
age, shed OF leves dues. for hftesr
years from II. date II hiInE, Win y,
Secretary Of State proof that thsil
authorized capital stock has been paid
No ouch steamship company shall