The Natchitoches enterprise., 1920-09-23

HEWITT BOUANCHAUD,
Lieutenant Governor and President .
| the Senate.
| Approved: July Z. 1920.
| JNO. NJ. PARKER.
| Governor of the State Of Louisiana
| true copy:
/, JAMES j. BAILEY.
Secretary of State.
ACT NO. 153.
House Bill No. 376-By Mr.. Claiborne
substitute for House Bill No. 199
JOINT RESOLUTION.
Proposing an anne mendment to Article 23
of the Constitution of the State o
Louisiana relative to eXempting Ger
tain industries located on tho naviea
ton Canal, New Orleans.
Section l.. Be 1t resolved by the Gen
cral Assembly of the State of Louis
lana two-thirds Of all members elected
to each House concurring, That the fol
tion OF the State of Louisiana be sub
mitted to the electors of the State a
ths next Congregational Election to b,
Monday in November. 1920. making
said Article read as follows:
Article 230. The following shall be
exempt from taxation. and no other
VIZ: All public property. places of re-
ana parsonages of churches and
grounds thereunto appurtenant. used
exclusively as residences for the min
listers in charge of such churches. ali
charitable institutions, ali buildings
ana property used exclusively for pub
nc monuments or historical collections
colleges and other school purposes. the
real and personal estate Of any public
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- :
N. n hs,n It'll
the property so exempted be not leased
1or purposes of private or corporate
pront 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 ], 1905. and prior to January /.
l?oa. This exemption shall include and
apply to all rights of way. roadbeds,
sld1nEs. rails. and other superstruc-
beds or sidings; and to all depots. sta
n-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
pSVh ana ODIaIneO.
whether same remain the property of
the present owner or owners or be
or assigned to any cor
Doration or corporations. person or per-
ther. that this exemption shall not
spnly to double tracks. sidings,
witches, depots or other improvements
'r betterments: which may be con-
within the State, other than extensions |
'r new lines constructed by such rail- |
Dads. There shall be exempt from
axation the legal reserve of life insur-
avs of this State. The property or
eal estate belonging to any military
organization Of the State of Louisiana |
which Is used by the State National |
iuard or militia for military purposes,
uch as arsenals or armories, while so
lsed, shall be exempt from taxation.
there shall also be exempt from tax
tion, loans made upon the security Of
MORTGAGES granted upon real estate
ituated in this State, as well as he
mortgages granted to secure said loans.
nd the notes. bonds or other written
Instruments evidencing the said loans,
Ihether IN the hands of the mortgagee,
'ans made by life insurance companies
D their policyhOlders, upon the sole
ecurity of policies held by the bor-
over in the company making the
,ritten instruments, evidencinK such
'ans; provided, that in the case of
ans upon policies of life insurance,
) aforesaid, the rate of interest
,arEed upon such loans does not ex-
,unt.
The capitA, surplus and personal
i tese Of ysry.s.spor.sien cr.anixed
r the sole purpose OF lending
oney on mortgages on country
'operty situated in Louisiana at
tie Of interest not to exceed six per ,
mt (6 10 net to the borrower. with ,
I'd securities issued by the various ,
lrishes and local districts and mu-
cipalities Of the State Of Louisiana {
'al, S.n.v be 1,os exempt from rom. taxation for
e organization of said companies;
divided. that said companies shall G
I'VE full-paid cash capital stock Of !
It less than $250.000: and, provided q
ion shall On any loan charge the bor-
wer more than six per cent interest, \
nether n ny way OF commission; dis r
subject to taxation from the time it .
axes such loan; and any such cor A
ration handling or negotiating any S
curities other than those hereinabove t
entiOned shall incur a like forfeiture | n
No such corporation shall have power s
receive any money on deposit or to il
q bankiR. business of any sort, but fl
such corporations shall be under
,incr OF State Banks, whose duty it
all be to report to the Attorney
neral any violation of the condition S
this exemption.
feinafter set forth. together with
eir capital stock and all their prop
~. corporeal and incorporeal. shall A
exempt from ALI taxes and licenses,
neral and special. exclusive Of wharf -
lrs from the date Of ming with the r
,retary. OF State proof that their
thori.ed capital stock has been paid
full in cash. IL
30 such steamship company shall,
ve the benefit of this Constitutional
'yision except upon the following
editions:
N organised and the whole Of its
.horixed capital stock paid in cash
ore January LIST. 1916.
such company shall be
niciled In the City Of New Orleans,
such company shall have
'apital stock OF at least three mill
, dollars. payable only In cash.
Il shall be provided in
poration. or firm. or Individual shall
a or control, either directly or in
ectly. more than one-twentieth Of
capital stock Of the company; and
I all pooling agreements and voting
SITS between the stockholders to
troll the corporation shall be abso-
.ly null and void and. no stock held
my such pool or voting trust shall
+ be voted at any corporate election
meeting.
ifth-That the capital stock of each
pany shall be open to public sub
ption by public advertisements in
New Orleans newspapers for atIH
t three months before the books
closed. and II over.subscribed shall
lpportioned among the subscribers.
xth-That all vessels operated BY
company shall be common carriers
every voyage unless the whole ca
ty of the ship shall be chartered
= particular voyage or voyages for
purpose.
shall be lawful for companies 20
lnized In addition to the powers
provided by the laws Of the State
into their charters all et
of the following powers:
rgt--TO build charfeP 0r nurchos -