The Madison journal. (Tallulah, Madison Parish, La.) 1888-current, 1920-09-11


witch is used by the state National
Guard or HI tia for military pnfp"tth'
such as arsenals Or Srr9oT. : VINE -
used shsH be exempt nom tahatl,H
There shall also be exempt from TAX
alton. loans mad upon the se-uflN 81 !
MORTGAGES granted upon real r-ttte
situated IN this s-ate. az VEL as ne !
mortgages granted 10 secure sllc loans 7
aid the notes. bonds or other written 1
irs,rurn, eNIdencinE the said loans {
whether in the hands Of the nofts aces
or hts or Their trans-tfevs, ahl az
loans made ny life insurance ccmpailts
20 their pUIIcNhCldeTs. upon th- sole
security OF policies held 10y the boz
rover in the company making TIE
written instruments. erId-nclng s1cn
loans. provided. that N the case o. /
loans upon policsE o. life INSURANCE
ss aforesaid. tue rate o. .L,.'.st
coed Ave par cent ISL per annl'n as
count.
as;ate Of every corporation CTsanized
after SuveHb.T 2.rd- 1917 IN 'H.s tate
'cr the sole purpose Of lending
money on mortgages o. f'Snu!
property situated IL lCuisia'a al
rate Of interest not 20 SIceed sin per
cent lCr) net 20 the borrower. with
po~er 20 ragO-iats and handle boHds
and securities issued by the varloCs
parishes and local districts ana ill-
ric!paliiies Of the state Of LOUISIANA
shall be exempt from taxation Tor
twenty 900 years from - date Of
The organic ton Of SAID companies;
provided that said companies sh5i,
have q full-paid cash capital STOCK .,
not less than SZ5O.yOp; and prpNlu-o
further. that in case any sucL 81 POI
alton shall on any loan charge the Dor
rover more than six per cent inter est.
,rts,be- fy way OF comm issiOn. dis
count or otherwise. II shall forfet tLy
entire exemption herein granted. ana
b. s.bie-r 10 taxation from tn time -
/
prrsrion handling or negotiating any
securities S-bs=r tLan t1Sse ner nc JcEr
mentioned shall incur 4 Ake foff-ltLrv-
70 such corporation shan nave power
/ 20 receive any money on deposit 'cT %
| 10 banking business Of any SOFT but
an such corporations shall be under
| the control ana supervision OF t3e *,
/ amlner Of state Banks. whose duty II
| shall b 60 report 20 tue Attorney
General any violation Of the condition
| Of this exemption.
hereinafter set forth. together " ~
,heir capital stock and all their prop
| erty. Coryoreal and iHcoTl"real, shat!
| b exempt from al taxes and licenses
| s,ate. parish. Ie-se and 1.uI icipel both
general and special exclusive OF wharf
age. SIZED or leVee 1u :. -or stt%en
| years nom the date of fling with the
| SerTetary % State proof ti2t their
| authorized capital stock has been PAID
| in fun IL cash o.,
| No s,ca steamship company shall
have the benefit % this Constitute IA Al
provision except upon the following
| First-That such company shah have
been organized and TIE w4.cie OF rs
| authorized capital stock pad in cash
| DS.ore January LIST, 1916.
| Second-TLat ouch company shan be
| lOmiciied IL the City o! New Orleans
u in some other port Of this State.
| Tnird-That such company sAai! nave
| A capital stock of a least three mill
ion do!laTs. payable oniy IN cash
Fourth-That II shall Be pro v!d-d in
the charter of the company that n
oTporation. or arm. or Individual shall
own or control. either directly or in
directly. more than 0ne-ts -TG' N o.
The capital stock Of The company; a1c
| hat all roofing agTeeine hts and voting
| rusts between the sto-kho .d-Ts -
-ont-ol the corporation shall be abso-
.ute.y null and yUidsaud 10 stock held
| "a a ) s1cn poo. or voting trust sinai.
| ever be voted at any corporate election
or u.ceti' <.
| Fl1th-That the capital stock % each
company fi>alI be open to public sub
scription by public advertisements in
the New Orleans newspapers for al
east three months before the books
are closed, ana II over subscribed shall
be apportion=d among TIE sucsrTi hers
xt.-That al vessels operlted by
/ ~aiG company shall De- common carriers
| On every voyage uHi s. the wEoie ca
~aci:y OF the slip shall De chartered
! IT -. ocular voyage or voyages 10,
/; sail BE- la !ul Tor companies s.
rgAI:-z-d ~ sd..iion 70 the power
/ on prov I'D - 80 awe Of 80 stat
% inceTlOr - iisty ucir charters ali G.
any of me following powers:
F!rst-To build. charter or puTcbas'
vessels
Seconi-To insure goods. wares anc
1 -aercnaId.sc carried in their own bot
IONS against fire and perils of the sea
Ihird-To build own AID rent aBC
'perate shipyards. docks. piers
4
ction Of their business.
Fourtb-TO trade with foreign cou'
-ries. intiu1:nZ the fcreigu possess .
Il the United States. by expo-tini
srgo CARED thereto Ia their own yes
sells nd TO import from foreign con-
ries. including TIE foreign pOss. ssicn
# the United states IN their own v
se,s cargo for sale or .xcha SO ia e
nIted states but no ship or suci
| -ompaay shall be laden with the COM
oany's own cargo To the exclusion o
-argo offered for such vCyag. by IN
| General pubic. ard such cargo oIere,
. ~ the general public shah have pref
renee on all voyages for which IL il
| offered.
F.fth-To authorize corporations
foreign and domestis. 10 subscribe Z
ana own shares OF their capital stock
rot however in excess OF the Limitation
above provided.
. No leased property or chartered shiI
shall he within the exc .nPtion herein
sranTt a. nor shall vessels Of such cor
Dorations operated in the Goa Etin!
trade of the United States. or operate,
aetween ports Of the United States
other than Louisiana ports. and foreigi
countries. not including the foreigi
possessions of the United States. b
. | within the exemption herein granted
One such voyage in any year sssl
! subject the vessel making the voyag
TO taxation for that year.
| The proof above required TO be file'
with the Secretary of State that. III
authorized capital stock has been pal,
in cash shall he the joint affidavit o
the president and secretary Of tn
! company TO the effect. accompanied y,
| a verified trial balance of the company
. | books.
Each OF sa!d corporations shall pos
sess the power OF eminent domain 70
Q the purpose of acquiring land on whicl
Y to erect plant TO buiid and repai
= Vessels.
= There shall be exempt from STATE
/ parish and municipal taxation fA
= ! period OF ten (l0) years from Januar
l. 1921. all buildings, including ma
0 chinery and atDurtenances locate
thereon; or other improvements con
= structed for manufacturing. CONNER
ciai and business purposes on tn
{ lands Of the Navigation Canal tn
g title OF watch is or may be held by tn
{ Board OF Commissioners of the Port o
z New Orleans as an agency of the Stat
OF Louisiana, and which may be lease
e from said Board by any persons or cor
:. porauons conducting business thereon
= ! provided. that not less than Twenty
$ five Thousand Dollars 1895. 00O) sha
d be invested in the physical propert
d OF any such enterprise. and furthe
: provided not less than twenty-five (25
u persons shall be constantly employee
8 thereon.
= Section g. Be II further resolve,
}. ETC. That on the official ballot TO b