The St. Mary banner., 1920-08-28

- ants evidencing such
80, rat in the case OF
Y. proviaespp;c of life insurance,
4. upon po"be the rate q lhl"rest
.toressid, IN III. loans does not ex-
ssd upon su t5Cs) per annum dls-
4. -, surplus and personal
~ espita..v Evaporation orEam%"d
al eyeas GARD. 1912, IN TINS STATE
n soye nv, nv purpose Of Iehd!hs
he so's sortrages on country
~ on ated in louisiana at
k.s,g sist situst not TO exceed SIX per
n Of ihteres n the borrower. with
aFl notiate ne and handle bonds
"a 10 ta issued by the various
seeuflu local districts ana mu-
ksAss anu tbe State OF Louisiana
sshties annt .. from taxation FOR
be ,ne Years from the date OF
ysr w ,;on Of said companies |,
ergah,Sat ,Sat said companies shail
ddec, naid cash capita stSK OF
q fun,p 100000; and. provided
se Hs in ease any such corpof-
3s, uia. anv loan charge the Dor
b. tnsll han six per cent interest
re- moIe NAV of commission, dlS-
b.her Dy Dyrwise. it shall forfeit the
rt OF ountion herein granted. ana
ire nem AVIATION from the time II
sbleet loan; and any such cor
bee suen rdiinp or negotiating any
aiion n. n,her than those herelnaboVe
cntisf oJnil o.hail incur a Ike forfeiture.
encnsa eoynorstion shall have power
E such ~, naoney on deposit or to
Sew a business OF any sort. but
mhiins iinos1norations shall be under
Tcn 5oap appd supervision of the Ex-
nnug' State Banks, whose duty 1t
lfi !" ~ report to the Attorney
DC W vioiation of the condition
.m m.sIn Tin. companies organized as
EHn.nr set forth, together with
ffaI.tt,o stock and all their prop
1p"real and incorporeal. shall
@p w from All taxes and licenses.
nenps, leyee and nun icipal. both
"a special, exclusive OF wharf
ln or 1eyee dues, FOR fifteen
W.. r, the date Of fling with the
mv" of State proof that their
aMsa canital stock has been paid
III In cash, oonrorv shall
=. benefit of this Constitutional
@ except upon the following
sr,~-That such company snail nave
,ranized and the whole of its
.s.sd capital stock paid in cash
~ January 1st, 1916.
s..rd-That such company shali be
.sylsa in the City of New Orleans,
.ome other port of this State.
~,,SmTbat such company shall have
.ssi stock Of at least three mil
Ssars payable only in cash.
ss,sh--That 1t shall be provided in
sha,ter of the company that no
,stion, or firm, or individual shall
:, control, either directly or in
IN more than netWentieth OF
~.ital stock of the company; and
n nooling agreements and voting
\. between the stockholders tC
nj ,he corporation shall be abso
m mill and void and no stock held
nv such pool or voting trust shall
III voted at any corporate election
nsetng.
6hh-That the capital stock of each
,mny shall be open to public sub
guiion by public advertisements in
New Orleans newspapers for al
4 three months before the books
rosed, and If oyer-subscribed shall
uportioned among the subscribers
rIfh-That all vessels operated by
eompany shall be common carriers
syery voyage unless the whole ca
ty Of the ship shall be chartered
particular voyage or voyages for
srticular purpose.
/ shall be lawful for companies sc
Iurted in addition to the powers
u provided by the laws of the State
Aharporate into their charters all OF
n Of the following powers:
kst-T0 build, charter or purchase
pnsa
kond-To insure goods. wares and
rhkndise carried in their own bot
Es against fire and perils of the sea
nFd-To build, own and rent anC
kale shipyards. docks. piers
lzTes and warehouses for the trans
tel Of their business.
Esarth-To trade with foreign coun-
Including the foreign possessions
ne United States, by exporting
carried thereto in their own YES
and to import from foreign coun-
Including the foreign possession:
N United States. in their own yes
ergo for sale or exchange in the
aa States, but no ship or sucl
qany shall be laden with the com
oyn cargo to the exclusion O.
q offered for such voyage by thu
"a public, and such cargo Offered
ne general public shall have pref
on all voyages for which it i!
nflh-To authorize corporations
" and domestic. to subscribe tt
ssn shares of their capital stock
eHeper In excess Of the Limitation
y provided.
eased property or chartered Shil
~ " within the exemption herein
sa nor shall vessels of such cor
saeas operated in the coastins
d the United States. or operated
ports of the United States
uan Louisiana ports. and foreign
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