The St. Mary banner., 1920-09-11

.r,s evidencing such
lustr1n nat in the case OF
noIicies Of NE 10 interest ~ q
~ the rate as ol nnt *
$50 s such loans no1S :, Mn, ~ dis
-, surplus and persona !
spitaL anrnoration organized
every osrd 1912, in this state
soIe purpose oi romntry :
% e,ated NED in louisiana at
n sinsttn sst not to exceed SIX per
b'sfes tn the borrower, with
III neo no,iate and handle bonds
b issued by the various
sShbs local districts and mu-
~ NJ the State OF LOW; Lou,sia,or ,nr
pgss Tempt from taxation LOT
e., n Years from the date OF
a .W ,,on OF said companies:
.tat said companies Shai !
~ uaj lid cash capita stock OF
fsll,pas s25OO00; and. provided
III !n4n; :, case any such corpor-
I'm on any iodh t ;rternst
~, ~ than six per cent .,, ln'ertSt' AZ
aols way of commission: dls-
s nerwise. it shall forfeit the
u oli olntion herein granted ana
ao ,sxation from the time u
kNtet y Loan: and any such cor
fua ,diing or negotiating any
y n,hsr than those hereina boVe
v shall ineu" z IKE lorieleure: ,1o u. :.
sss q csorporatlon shall have power
|efn w ~ money on deposit or TO
w ,sn sn business of any sort, but
nnnssnorations shall be under
" eoapd VIA supervision of the Ex-
~ e ctate Banks, whose duty II
~ . 90" report to the Attorney
L'.ny violation OF the cohuitioh
y in companies organized as
rnp set forth. together with
p'as 80, stock and all their prop
Eor.al and incorporeal, shall
NpVt trom Ill taxes and licenses,
~ G.b ieyee and n,ur icipal, both
.ns special, exclusive OF wharf
~ or levee dues, Tor htteen
~ ,be date Of filing with the
W. Of state proof that their
s,a capital stock has been paid
IN steamship company shall
y VI h.nsAt of this Constitutional
N except upon the following
That such company shall have
.,snized and the whole OF its
.s.sd capital stock paid in cash
] January LIST, 1915.
t%-That such company shall be
'.sd in the City of New Orleans,
s,ne other port of this State.
Y That such company shall have
M stock Of at least three mil
Vars payable only in cash.
srN-That 1t shall be provided in
s,rter Of the company that no
s,lon. or firm. or individual shall
4 eo1trol. either directly or in
\ more than one-twentieth of
sstal stock of the company; and
n pooling agreements and voting
|. between the stockholders to
4 the corporation shall be abso-
! mi and void and no stock held
4 yucb pool or voting trust shall
i voted at any corporate election
s.ing.
THAT the capital stock of each
~ shall be open to public sub
IN BY public advertisements in
yw Orleans newspapers for at
Aree months before the books
ned. and if over-subscribed shall
Iortioned among the subscribers.
,t-That all vessels operated by
lmpany shall be common carriers
iry voyage unless the whole ca
Of the ship shall be chartered
PARTICULAR voyage or voyages for
tcular purpose.
ball be lawful for companies so
i,ed In addition to the powers
aoyided by the laws of the State
mporate into their charters all or
the following powers:
ITO build, charter or purchase
nd-To insure goods. wares and
Rndise carried in their own bot
gainst fire and perils of the sea.
a-To build. own and rent and
b shipysrds, docks, piers,
ts and warehouses for the trans
Of their business.
rth--To trade with foreign coun-
llcluding the foreign possessions
United States, by exporting
drried thereto in their own yes
nd to import from foreign coun-
Including the foreign possessions
United States. in their own YES
lfgo for sale or exchange in the
states, but no ship or such
~ shall be laden with the COM
own cargo to the exclusion of
eHered for such voyage by the
public, and such cargo offered
general public shall have pref
On all voyages for which it is
ITO authorize corporations.
and domestic, to subscribe to
y shares OF their capital stock,
seser In excess of the Limitation
Provided.
ased property or chartered ship
\ within the exemption herein
! nor shall vessels Of such cor
y ~ operated in the coasting
Y me United States, or operated
Y Y ports Of the United States,
'Asn louisiana ports, and foreign