The Concordia sentinel. (Vidalia, Concordia Parish, La.) 1882-current, 1920-10-23

which is used by the state National
Guard or militia Tor military purposes
such as arsenals or armortes, Whhe SO
used. shall be exempt from taxation.
There shall also be exempt from TAX
alton. loans made upon the security OF
sfTafed in fhis State as we'll as he
mortgages granted to secure saio Ioahs.
and the notes bonds orsother Wr'tleh
wSether in the hands Of the mortgage,
or his or their trans1erees; anu All
loans made by life insurance companies
to their policyholders, upon me tne bore
rover in the company making the
loans, as we'll as all notes or other
written instruments, evidencing such
| loans: provided. that in the case OF
loans upon policies of life insurance.
as aforesaid, the rate OF interest
charged upon such loans does not e1-
oeed fve per cent (SSs) per ahhuiii us
The capital surplus and personal
estate of every corporation ORGANIZED
after November 23rd, 1912, In this STATE
| for the sole purpose of Lending |
] money on mortgages on country
property situated In louisiana at |
cent (sS6) net TO the borrower. with
| power to negotiate and handle bonds
and securities issued by the various
parishes and local S districts ~ I ana anu
shall be exempt from taxation for
| twenty (20) years from the date OF
| the organization OF Sald companies,
provided, that said companies shall
have a full-paid cash capital stock OF
not less than $250.0OO; and, provided
further that in case any such corpor-
alton shall on any loan charge the bor-
Erower more than six per cent interest,
| whether by way of commission, dis
count or otherwise II shall forfeit the
entire exemption herein granted, ana
be subject to taxation from the time il
makes such loan; and any such cor
poration handling or negotiating any
securities other than those hereinaooVe
mentioned shall incur like forfeiture.
No such corporation shall have power
to receive any money on deposit or 10
do banking business OF any sort, put
all such corporations shall be under
the control and supervision of the Ex-
aminer of State Banks, whose duty II
shall be to report to the attorney
General any violation OF the condition
of this exemption.
Steamship companies organized as
: hereinafter set forth, together with
, their capital stock and all their prop
: erty, corporeal and incorporeal. shall
be exempt from all taxes and licenses
State, parish, Ievee and muir icipal. both
= general and special, exclusive OF wharf
{ age shed or levee dues, Tor fifteen
{ years from the date of fling with the
4 Secretary of state proof that their
\ authorized capitaJ STOCK mas peen pdlo
in full in cash. .
Q No such steamship company shall
!; have the benefit of this Constitutional
4 provision except upon the following
i First-That such company shall have
/, been organized and the whole or It's
s authorized capital stock paid in cash
8 before January LIST, 1916.
r Second-That such company shall be
/; domiciled in the City of New Orleans
o or in some other port of this state.
= Third-That such company shall have
Il q CAPITAL stock of at least three mil
e lion dollars. payable only in cash.
s Fourth-That it shall be provided In
: the charter of the company that nc
r corpora ton, or firm. or individual shall
n own or control, either directly or in
N directly, more than one-twenteth o,
Is the capital stock of the company; anC
"a that ali pooling agreements and voting
N trusts between the stockholders Il
II control the corporation shall be abso
IT lutely null and VOID ana no STOCK n hetS
ID ever be voted at any corporate election
r. or meeting.
g. company shall be open to public sub
IL scription by public advertisements II
Dr. the New Orleans newspapers for a
D. least three months before the book
or are closed, and IL over-subscribed shall
al be apportioned among the subscribers
I'd Sixth-That all vessels operated b.
in said company shall be common carrier
or on every voyage unless the whole ca
Of pacity of TIE ship shall be charters
I'd for a particular voyage or voyages TO
n a particular purpose.
in 1t shall be lawful for companies 8
to organized in addition to the power
at now provided by the laws OF the Stat
n 10 incorporate into their charters all o
at any of the following powers:
he First-To build, charter or purchas
a. Seeond-To insure goods. wares an
RS merchandise carried In their own oot
id Third-To build. own and rent an
in operate shipyards. docks, pier
wharves. and warehouses for the trans
lie action OF their business.
Dit Fourth-To trade with foreign cour
ng tries, including the foreign possessio or
tie of the United States, by exportin
ed sells and to import from foreign couI
be tries. including the foreign possession
of OF the United States. in their own We
or sells cargo for sale or exchange In u
ON United States, but no ship or sue
1T company shall be laden with the con
M pany's own cargo to the exclusion
cargo offered for such voyage by q
,ad general public, and such cargo offer
ed by the general public shall have pre-
led erence on all voyages for which II
m offered.
Ell Fifth-To Authorize corporation
ate foreign and domestic, t. subscribe
tha and own shares of their capital stoc
of not however In excess of the hmitati
ed No leased property or chartered sh
all shall be within the exemption here
raj granted. nor shall vessels Of such CO
nd trade Of the United States, or operat
between ports of the United stat
other than Louisiana ports. and forei
Ia countries not 80 -
possessions of the United States
}. within the exemption herein grant
Of One such voyage in any year sn
to taxation for that year.
The proof above required to be al
ma. with the Secretary Of State that
authorised capital stock has been pi
in cash shall be the Joint affidavit
the president and secretary OF
company to the effect. accompanied
= verified trial balance OF the compan
rne fb0akA
Zach of said corporations shall p
sess the power of eminent domain
gao the purpose of acquiring land on VIII
, of to erect q plant to build and rep
cer- vesselR
"a There shall be exempt from Sta
parish and municipal taxation for
,en- period of ten (10) years from Janus
uis- l. 1921, all buildings, including
cted chinery and appurtenances ioca
foI- thereon, or other improvements c.
itu- structed for manufacturing, comm
rub cial and business purposes on
! At lands of the Navigation Canal,
!, be title of which 10 or may be held by
hrat Board of Commissioners of the Port
ding New Orleans, as an agency of tie st
of Louisiana, and which may be lea
be from said Board by any persons or c
her. poratjons conducting business there
re. provided. that not less than TWEEN
,ries ave Thousand Dollars ($25,ooO) 81
and be invested in the physical Srope
naed of any such enterprise. and furt
min provided not less than twenty-five
an persons shall &c constantly emplo
lhSS CooxIon IA - Pur3han rAaol,