The Donaldsonville chief., 1920-10-16

saalcsse, as provided in q genera.
| election laws of the State, whether or
not he votes for or against the ameha-
| r. r. WALKER,
| Speaker OF the House OF Represenea-
Z, HEWITT BoUANCHAUD,
Lieutenant Governor and President OF
| the Senate.
! Approved: July 7, 1920.
JNO N. PARKER.
| Governor of the State of L.ouis1an&.
JAMES ]. BAILEY,
| Secretary of State.
ACT NO. 153.
House Bill No. 37s-By Mr. Claiborne
Substitute for House Bill No. iss
JOINT RESOLUTION.
OF the Constitution Of the State of
Louisiana relative to exemptlng GET
tain industries located on the navlga-
tion Canal New Orleans.
Section l. Be 1t resolved by the GEN
eral Assembly of the state OF Louis,
lana, two-thirds Of all members elected
to each House concurrlng, That the lol-
tion Of the State of Louisiana be sub
mitted to the electors OF the State At
the next Congressional Election to be
the m sss nsr hs msfns
said Article read as follows
Article 230 The following shall be
exempt from taxation, and no other,
ligious worship, or burial. the rectories
and parsonages of churches and
grounds thereunto appurtenant, used
listers in charge of such churches, all
| charitable institutions all bu1to1ngs
and property used exclusively tor pup
lie monuments or historical collections.
uY,1 ofh lnhn
real and personal estate or any PUBIC
library, and that OF any other library
association used by or connected with
such library, all books and philosophi,
cal apparatus, and all paintings AND
statuary OF any company or associa-
ton, kept In a public hall; provided,
for purposes of private or corporate
profit or income There shall also be
! exempt from taxation household prop
erty to the value of nve hundred dol
alton for a period Of ten years from
the date Of It's completion. any railroad
or part of railroad that shall be con
January l. 1905, and prior to January L
1909. This exemption shall include and
apply to all rights of way, roadbeds
lures upon such rights Of way, road
beds or sidings; and to all depots, sta
tton-houses, buildings, erertions and
structures appurtenant to such rail-
but shall not include the depots, ware
houses, stationhouses and other struc-
ture~ and appurtenanees nor the land
upon which they are erected at ter
minal points, and for which franchises
have been granted and obtained:
whether same remain the property OF
transferred or assigned to any cor
poratton or corporations person or per-
sons wholnsoevsr. and, provided fur
ther. that this exemption shall not
shes. 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
taxation the legal reserve OF life insur-
anee companies ,psa organized IL. under the he
real estate belonging to any mi itary
organization Of the State of Louisiana
which is used by the State National
such a. arsenals or arnortas. while SO
used. shall bs exempt from taxation.
There shall also be exempt from tax
alton, loans made upen the security OF
NOR rtgages granted upon real estate
Esituated in this State, as well al .hs
mortgages granted to secure said loans
:, and the notes. bonds or other, ,.wrstten -
whsth er In the hands Of the mortgage
or his or their transferees; and all
loans made by life insurance companies
1
; security Of policies held by the hor-
rover In the company making the
loans. an well as all notes or other
, written instraments. eyidencing such
as aforesaid. the rata or Interest
charged upon such loans does not sex-
coed fiye peg cent t5eo) per annum dis
count.
The capital. surplus and personal
estate Of every corporation organized
for the sole purpose of lending
property situated in Louisiana at d
rate Of interest not to exceed six PEI
power to negotiate and handle bonds
and securities issued by the various
parishsa and local districts and mu.
nteipalisiss Of the State Of Louislana
| twenty (2o) years from the date oi
the organization Of said companies
provided. that said companies shal
, not less than sz50,ooo; and. provided
further. that In case any such corpor.
alton shah on any loan charge the bor-
vhesher By 'nas way s Il psr ean Ss
/ count or otherwise, it shall forfeit the
entire exemption herein granted. ans
be subject to taxation from the time II
: makes such loan; and any such cor
: poration handling or pegotiating any
/ securities other than those heretnabove
mentioned shall incur a ke forfeiture
No such corporation sh..ll have power
20 receive any money on deposit or to
Edo banking business of any sort but
) all such corporations shall be unde,
: the control and supervision of the Elk
anainer OF State Banks whose duty I'll
, shall be to report to the Attorney
) General any violation Of the condition
OF this exemption.
: Steamship companies organized al
} hereinafter set forth, together with
heir. capital stock and ali their prop.
erty, cosporeal and incornoreal ahal
r be exempt from all taxes and licenses
I state, parish, Ievee and ncur tcfpaI, both
) general and special, exclusive OF wharf,
5 age, shed or leves dues, for fifteer
years from the date of fling with thu
[ gecrstary Of State proof that the.,
r authorised capital stock has been pait
: in fun in cash.
1 No such steamship company sha
e have the beneflt Of this Constitutions
! provision except upon the following
: conditions:
| First-That such company shall hay.
r been organized and the whole of It.
authorized capital stock paid In cast
r before January lat, 1915.
/ Second-That such company shall b,
i donaiciled In the City OF New Orleans
4 or IA some other port OF this State.
r Thtrd-That such company shall have
{ q capital stock OF 1T least three mil
4 lion dollars. payable only In cash.
Tourth-That It shall be provided II
q the charter of the company that M
D corporation, or firm, or individual phsI
directly, more than one-twentieth O
t the capital stock of the company; ans
Q that all pooling agreements and yotins
= trusts between the stockholders &
: control the corporation shall be ahso
8 lutsly null and void and no stock helt