St. Tammany farmer., 1920-09-18

dues, iOr nfteen years from the Qdte
of f.lng with the Secretary OF State
PROOF that their authorized capital
stock las been paid N full in cash.
No such steamship company shati
have the benefit of this Constitution
al provision except upon the follow
ing Conditions:
Fir4r-That such company shall
have been organized and the whole
Ot its authorized capital stock pa d
in cash before January 1st, 1916.
SecnHd-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 capital stock OF at least three
million dollars, payable in cash.
Fonrth-That t. shall be provided
in the charter of the company ...at
no ccrporat. N, firm, Or individual
IA own or control, either directly
tI Indirectly, more than one-tWent:-
eth OF the capital stock Of the con.-
.pany; and that all pooilng agree-
mento and voting trusts between the
stockholders to control the corpora
on shall be absolutely null ami
void cnd no stock held in any SUCH
pool tr~voting trust shall ever lie
voted at any corporate election ur
meeting.
Fitth-That the capital steer Ut
.'acn company shall be open to ublic
subscription by public alvert'S 'S"-
n ents in the New Orleans naWspal
e1s fo1 at least three months be->re
ne books are closed, and # over
suLst:ibed shall be appor+' 'lei
an.Cne 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 be
chartered for particular voyage or
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 the.r char
ters Hi or any Of the following pow
ers:
Ffrkt-To build, charter or pur-
chase vessels.
se.ond-To insure goods, wares
and merchandise carried on their
own notions against fire and per!ls
Of the sea.
Thild-To build, own and rent
md operate shipyards, docks, piers,
Wharycs and arehOuses for the
translation of their business.
Fourth-To trade with foreign
;ouats les, including the foreign pos
sessions of the United States, by OK
porting cargo carried thereto in their
vessels, and to imnort from foreign
countries, including the foreign pos
sessions of the United States, in their
own vessels cargo for sale or az
change in the United States, but no
ship .r such company shall be laden
with TIE company's cargo to the ey-
clusion of cargo offered for such voy-
age oy the general public, and such
cargo offered by the general public
shall have preference on all Voyages
for Wiich it is offered.
Fiftn-To authorize corporations,
foreisn and domestic, to subscribe
to and own shares of their capital
stock, not however in excess OF the
limitation above provided.
No leased property or chartered
ship shall be within the exemption
herein granted, nor shall vessels OF
such corporations operated in the
coasting trade of the United States.
or operated between ports of the
United States, other than Louisiana
ports, and foreign countries, not in
Guiding the foreign possessions CT
the United States, be within the ey-
emption herein granted. One such
voyage in any year shall subject the
vessels making the voyage to tax
alton for that year.
The proof above required to De
flied 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 OF the company to the effec-,
ance oi the company's books.
Eaen of said corporations shall
possess the power Of eminent domain
for. the purpose of acquiring land on
which to erect a plant to build and
repair vessels.
There shall be exempt from Sta &c,
parish and municipal taxation for a
period of ten (10) years from Janu-
ary L, 1921, all buildings, including
machinery and appurtenances locat-
ed thereon, or other improvements
constructed for manufacturing, CON-
mercial and business purposes on the
lands CT the Navigation Canal, tn :
title Of which is or may be held by
the Board of Commissioners of the
Port o. New Orleans, as an ageney
of the State of Louisiana, and which
may be leased from said Board by
any person or corporations conduct
ing business thereon; provided, tha.
not less than Twenty-Five Tho
1925 G00) Dollars shall be invested
n the physical property of any such
enterprise, and further provided not
ess :1an twenty-five t25) persons
hall re constantly employed thereon.
Session 2. Be it further resolved.
ETC., rlat on the official ballot to be
Used 1T said election shall be placed
the words: For the proposed /
amendment adding to Article 230 of
the Constitution of this State certain
exemptions from taxation as to in
dustr:es located on the Navigation
Canal, New Orleans" and the words
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,