The Madison journal. (Tallulah, Madison Parish, La.) 1888-current, 1920-10-30

49,. ahail also be exempt from tax
alton, loans made upon the security o.
mortgages granted upon reaI eS .hs
mortgages granted to secure SAID loans.
and the notes, bonds or other wr!tten
Instruments evidencing the SAID Ioahs'
whether In the hands of the rortgaSeei
or his or their transferecs; ana All |
loans made by life Insurance companies
20 their poIicyholders. upon the sole |
security OF policies hOI1 D 9at u the
loans, as we'll as all notes or other
written instruments. eyidenc1ng such
loans: provided; that IN the case OF
as aforesaid. the rate of interest
charged upon such loans does not sx-
coed tve per cent (oS) per annum =
The capital. surplus and perso
estate OF every corporation orgsn.n
after November 23rd. 1912. In this Sty6
for the sole purpose OF LEND -
property situated in Louisiana at {
rate of interest not to exceed six -
cent (6%) net to the borrower. wX
power to Isgoti tsss ana hv ha the vaT
parishes and local districts and o.
inequalities of the State Of LouisiS1s
shall be exempt from taxation
. the Kes aG fsnF' of fFe sa the
provided, that said companies
have a kull-paid cash capital stock
| not less than $4,000; and, proT!i
further. that in case any such oorPe
alton shall on any loan charge the bcAr
rover more than six per cent intereA
| whe ether by way OF commission. CD
| count CT Otherwise. II Snail forleo u
entire exemption herein granted, ~
| be subject to taxation from the time q
makes such loan. and any such
| poration handling or negotiating SV
| securities other than those hercinabS5eo
mentioned shall incur a like forfeitCe.
No such corporation shall have poSg
10 receive any money on deposit or
60 bankins ,busineas o. any sorI -
| the control and supervision or the II
aminer of State Banks. whose duty
shall be to report TO the AttorE
General any violation or the ccnoltA0
| OF this exemption.
Steamship companies organized -
hereinafter set forth, together VIZ
erty. corporeal and in"orporeal. si.sa
be exempt from sil taxes ana Hcens
State. parish. lcyee and nur ic.2al, bc9
general and special. erciuSive OK whan$
age, shed or lcvee dues. LOT ffNS
yeare from the date Of filing with 90
secretary OF State proof that thr
authorized capital stock has been DsBu
Ia full In cash.
10 such steamship company Mrll
have the benefit of this Conotitut:yf Al
prov}afon except upon the following
Fiast-That eu,.h company shall Hvs
been Asganized and the whole ~ Is
authscEy ed capital stock paid In cash
bsroE January LIST 1919.
Il sse 'S CITY 'S OF sss
or in, gone other port OF this st.
Tn 5S-That such company shalIaave
cap1t.i stock Of at leaat thr-s mil
FouNS-TbA; !, shall be prov Id In
the cnsJ GER Of the company al no
corpo sRtion. or Erin, or ildividu1 shall
own n control either directly or In.
direreS, moro aan one-tsentteh OF
the 4 eital siocR of the compn ~; and
that - pooling asreeraents aa'. 'oting
| truslS between The stockhC. ATe TO
con I'D the cespsiation shall p ubso,
lutssy null and S'e and no held
Ia ssy such poe; Or voting u shsu
eveS Be .oted nso cosparA,~xectSn
% zs;.S@ThA, =. capital stock 3, each
eoya,ay shan " open TO pu nab
ss ION * pash' asvsr,,ss sa;ts In
80 three msrths befors i. Doors
aCliosod and over-sabsf 80 sAca
= a7pcrtioned s:nong tie hts,criocta
, - company sss be comm . carriers
8 every vvy>,y 1nle IS the whole CO.
. aES1y Of the dap shall be eharteys1
To- particular voyage or eseAges Los
q rhsii be awful for s-1esnies SO
soS provided - the iaws * tS State
e. 81 he fo!s s'H A So.ss ' a. OF
! FirstSTo kSl;A chsstaS Or purchase
sSssi.s .s ,:ss,s 4 20; .rs s ss
!. toms sainst IRE and paA,s OF the sea
, fhird-co bslld. own End reGt and
! soerats shipyArdA locAa pterA
wharHs and warehouses for the trans-
ae FSsl tss', ,r sS1 ai.s so.s.sn oour
J | tries including tho foreign possnss! on
. u the United States. By exporting
drgo carried thereto In their own yes
> iriee. Including tho foreign possession,
{ Of the United States. in thnit own voo
9 sells cargo for sale or exchange In tn.
I company shall be laden with the com.
pany's own cargo to the exclusion Of
cargo offered for such voyage by kht
. General public, and such cargo oheret
q erence on al voyages for which II Il
offered
= Fifth-To authorize corporations
. and own shares of their capital stock
{ not however in excess Of the limitation
: above provided
, AZ &c Stn ,ns sr :s
granted. nor shall vessels OF such cor
porations operated In the coastine
trade of the United states. or operated
other than Louisiana ports. and foreign
: countries. not including the foreign
possessions OF the United States, b
within the exemption herein granted
eub3ect tho vessel making the voyas,
10 taxation for that year.
The proof above required TO be flet
l. I ~SA tho Secretary OF State that thu
authorized capital stock has been pait
Ia cash shs,i be the joint affidavit o.
the president and secretary OF tn,
eoEpeny 10 the, effect accompanied b.
verified tria! balance Of the COMPANY
books
\ Each Of said corporate shall pos-
SECS the power OF eminent domain fol
- the purpose of acquiring land on whic
TO erect plant 70 build and repail
y ! vessels
: There shall be exempt from State
: parish and municipal taxation for
period Of ten (l0) years from January
1921 all buildings. Including ma
chinery and afpurtenances iocate<
O thereon, Or other improvements con
structed for manufacturing. CONNER
ciai ana business purposes on tn,
lands OF the Navigation Canal. tn,
title Of which Is or may be held by to,
. Hoard OF Commissioners of the Port o.
y New Orleans as an agency of the Stat,
. OF louisiana ans which may be lease<
from said Board by any persons or cor
porations conducting business thereon
: i've Thousand Dollars $4,000, ~e ahs,
3 DC invested In the physical propert3
9 OF any such enterprise, and furthel
O provided not less than twenty-five (25'
!, persons shall DO constantly employed
u thereon
q Section .. De It further resolved
}. used at said election shall be place.
the words: Tor the proposed amend
ment adding 70 Article $50 Of the Con
eeitution OF this State certain excmp