The Natchitoches enterprise., 1920-08-26

Indicate. as provided in the gener;
election laws of the State. whether {
not he votes for or against the amend
nent
r.. F.. WALKER.
Speaker OF the House Of Represents
tives.
HEWITT BOUANCHACD.
Lieutenant Governor and President {
the Senate.
Approved: July I. 1920.
| JNO. N. PARKER
| Governor of the State Of Louisian,
| A true copy:
JAMES j. BAILEY.
| Secretary of State.
ACT NO. 153
House Bill No: a7s-By Mr. Claiborn
| JOINT RESOLUTION.
Proposing an amendment to Article %
! Of the Constitution of the State Q
| Louisiana relative to exemptins Ger
| tain industries located on the naviga
! ton Canal. New Orleans.
| Section l. Be it resolved by the Gen
eral Assembly of the State OF Louis
| to each House concurring. That the fol
| lowing amendments to the Constitu
ton of the State of Louisiana be sub
0itted to the electors Of the State a
held on the first Tuesday after the frs
Monday in November. 1920, making
said Article read as follows:
Article 23o. The following shall b
viz: All public property. places Of re
liGious worship. or burial. the rectorie
and parsOnages of churches an
grounds thereunto appurtenant. use'
listers in charge of such churches. al
charitable institutions. all building
and property used exclusively for pub
lie monuments or historical collections
colleges and other school purposes. th'
real and personal estate Of any publ,
library. and that of any other lihrar!
association used by or connected with
such library. all books and phiiosophi.
cal apparatus and all paintings ant
statuary of any COMPANY or associa
ton. kept in a public hall: provided
the property so exempted be no; leased
for purposes of private or 'corporat
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 a period of ten years from
the date Of its completion. any railroad
or part of railroad that shall be con-
January J. 1908. and prior to January /
1909. This exemption shall include and
apply to all rights of way. roadbeds
sidings, rails, and other superstruc-
beds or sidinEs; and to all dcpots. sta
tion-houses, buildings. erections and
structures appurtenant to such rail-
roads and the operation of the same;
houses, stationhouses and other struc-
lures and appurtenances nor the land
upon which they are erected at ter
minal points, and for which franchises
whether same remain the property Of
the present owner or owners. or be
transferred or assigned to any cor
poration or corporations. person or per-
sons whonsoever. and. provided fur
ther. that this exemption shall not
apply to double tracks. sidings.
switches. depots or other improvements
or betterments. which may be con-
structed by railroads now in operation
within the State. other than extensions
or new lines constructed by such rail-
roads. There shall be exempt from
the legal reserve OF life insur.
ance companies organized under the
real estate belonging to any military
organization Of the State Of Louisiana
which is used by the State National
Guard or militia for military purposes.
such rs arsenals or armorics. while 50
used. shall be exempt from taxation.
There shall also be exempt from tax.
alton, loans made upon the security Of
granted upon real estate
.ituattf in this State. as well as he
md the notes. bonds or other written
Instruments evidencing the said IoaIs
whether in ehe hands Of the mortgagee
'F his or their transferees; and all
70 their policyholders. upon the sole
Of policies held by the bor-
'ower ip the company making the
oans. az well as all notes or other
written Instruments. eyidencing such
oans; provided: that in the case of
cans upon policies of life insurance,
- aforesaid. the rate of interest
hapgcd upon such loans does not ex-
eed fise per cent (5%l per annum dis
The capital. surplus and personal
state OF every corporation organized
fter November 23rd. 1912. in this State |
or the sole purpoee of lending !
ropeyty on stvatea a. On country
ate of interest not to exceed six per |
cnt (6ee) net to the borrower. with |
over to negotiate and handle bonds |
nd securities issued by the various |
tcipalites of the State Of iouiaiana |
hall be exempt from taxation for |
wenty (20) years from the date of |
he organization Of said companies;
ave, full.paid cash capital stock Of
OF less than $25O.O0O: and. provided
urther. that in case any such corpor-
ton shall on any loan charge the bor-
-hether by way Of commission. dis
ount or otherwise. it shall forfeit the
ntire exemption herein granted. and
9 subject to taxation from the time il
lakes such loan: and any such cor
oratioa handling or negotiating any
ecuritics other than those hereina hove
'entioned shall incur a like forfeiture
NO such corporation shall have power
, receive any money on deposit or to
. banking business Of any sort but
IL such corporations shall be under
re control and supervision of the Ex-
miner of STATE Banks. whose duty it
,all be to report to the Attorney
eneral any violation of the condition
this exemption.
Steamship companies organized as
ereina fter set forth. together with
leir capital stock and all their prop
fty. corporeai and incorporeal. shall
ate. parish. le"ee and nur icipal, both
,neFal and special. exclusive Of wharf
&c, shed or levee dues. ;oF flfteen
,ars from the date of Ming. with the
,thorized capital stock has been paid
full in cash.
No such steamship company shall
i've the benefit Of this Constitutional
'ovisipn except upon the following
such company shall have
'en organized and the whole Of its
.thorized capital stock paid in cash
fore January LIST. 1916.
SecOnd-That such company shall be
miciled in the City Of New Orleans,
in some other port of this State.
such company shall have
capital stock of at least three mill
N dollars. payable only in cash.
it shall be provided in
e charter Of the company that no
rpora ton, or firm. or individual shall
IN or control. either directly or in
rectly. more than one-twentieth of
e capital stock of the company; and
al all pooling agreements and voting
lists between the stockholders to
ntrOl the corporation shall be abso.
ely null and void and no stock held
any such pool or voting trust shall
er be vcted at any corporate election
the capital stock Of each
npany shall be open to public sub
'iption by public advertisements in
, New Orleans newspapers for atIV
1T three months before the books
closed, and Ii over-subscribed shall /
'ixth-That all vessels operated by
d company shall be common carrier1 1
every. voyage unless the whole cas-
,fty of the ship shall be chartered 1