Section 1. Be it enacted by the General
Assembly of the State of Louisiana, two
thirds of all the members elected to each
branch thereof concurring, that at the cong
ressional election to be held in this State on
Tuesday, November 8, 1910, the following
amendment to the Constitution shall be sub'
mitted to the electors of the State, to-wit:
"Steamship companies organized as here.
Inafter set forth, together with their capital
stock and all their property, corporeal and
incorporeal, shall be exempt from all taxes
and licenses, State, Parish, Levee and Mani
cipal, both general and special, exclusive of
wharfage, shed or levqe dues, for fifteen
years from the date of filing with the Secre
tary of State proof that their authorized
capital stock has been paid in full in cash.
No such steamship company shall have the
benefit of this constitutional provision except
upon the following conditions:
First-That such company shall have been
organized and the whole of its authorized
capital stock paid in cash within two years
from January 1, 1911.
Second-That such company shall be domi
ciled in the City of New Orleans, or in some
other port of this State.
Third-That such company shall have a
capital stock of at least three million dollars,
payable only in cash.
Fourth--That it shall be provided in the
charter oft the company that no corporation
or firm, or individual shall own or control
either directly or indirectly, more than one
twentieth of the capital stock of the com
pany; and that all pooling agreements and
voting trusts between the stockholders to
control the corporation shall be absolutely
null and void and no stock held in any reh
pool or voting trust shall ever be voted at
any corporate election or meeting.
