House Bill No. 218. ACT NO. 166. AN ACT By Mr. Leclere. Authorizing rail property chise. or fran To amend and re-enact the title and Sections 1, 2, 3, and 4 of Act No. 234 of 1914, entitled "An act relative to the powers of railroad corporations organized or existing under the laws of this State, or of any other State or Territory, or of the United States, and to the powers of street railroad corporations organized under the laws of this State." Section 1. Be it enacted by the General Assembly of the State of Louisiana, That the title of Act No. 234 of 1914, approved July 9, 1914, be amended and re-enacted so as to read as follows: An act relative to the powers of railroad companies now or hereafter organized under the laws of this State, or of any other State or Territory, or of the United States, for selling or leasing or granting the use of railroad, property, franchise, rights and appurtenances, and to the powers of street railway companies now or hereafter organized under the laws of this State to acquire the same. Section 2. Be it further enacted, etc., That Section 1 of Act No. 234 of 1914 be amended and re-enacted so as to read as follows:- Section 1. Be it enacted by the General Assembly of the State road companies to of Louisiana, that any railroad company in this State existing, or sell or lease its hereafter created. under the general or special laws of this or any other State or Territory, or of the United States, may sell, or lease, or grant the use of, such or any portion of its railroad, property and, or, franchise, as may be situated within the limits of any parish or municipality in this State, to any street railway company existing or hereafter created under the laws of this State, carrying passengers under municipal franchises. May acquire or Section 3. Be it further enacted, etc., That Section 2 of Act No. 234 of 1914 be amended and re-enacted so as to read as follows: Section 2. Be it further enacted, etc., That any street railway lease from any rail-company existing or hereafter created, under the laws of this road any portion or State, carrying passengers under municipal franchises, may acpart of its property. quire by conventional or judicial sales, or may lease, or may ae quire the use of, from any railroad company existing or hereafter created under the laws of this State or of any other State or Territory, or of the United States, such or any portion or part of its railroad as may be situated within the limits of any municipality in this State, with all or any part of the property, privileges and appurtenances, rights and franchises attached thereto or necessary for the full enjoyment thereof by said purchasing, leasing or using street railway company. Section 4. Be it further enacted, etc., That Section 3 of Act No. 234 of 1914 be amended and re-enacted so as to read as follows: Must be approved tal stock of each Section 3. Be it further enacted, etc., That before any conventional sale, lease or grant or use of such or any portion or by two-thirds capipart of any railroad, property, rights and franchises, shall take contracting compaplace and be valid, it must be approved and ratified by two- nies. thirds of the capital stock of each of the contracting companies, respectively, at a stockholders meeting called for the purpose, after public notice of thirty (30) clear days by advertisement in a newspaper published at the domiciles of the respective companies in the manner provided by law for judicial sales, calling the meeting of the stockholders of the contracting companies; and in case of the purchase at judicial sale by a street railway company, such purchase must be authorized and approved by two-thirds of the capital stock of the purchasing company, at a stockholders meeting convened for that purpose, thirty (30) days public notice of which meeting shall have been given in a newspaper published at the domicile of said purchasing company, in the manner provided by law for judicial sales. Section 5. Be it further enacted, etc., That Section 4 of Act No. 234 of 1914 be amended and re-enacted so as to read as follows: of bonds. assume or Section 4. Be it further enacted, etc., That any street railway May company purchasing or leasing or acquiring the use of such or guarantee portion any portion or part of any such railroad company may assume or guarantee such part or portion of the bonds of said railroad company as may rest upon or be properly apportioned to the part purchased, or leased, or of which the use is acquired. Section 6. Be it further enacted, etc., That all laws or parts Repealing cause. of laws contrary to or in conflict with the provisions of this act are hereby repealed. Section 7. Be it further enacted, etc., That this act shall take effect from and after its promulgation. House Bill No. 250. ACT NO. 167. AN ACT By Mr. Byrne. Authorizing City Belt Railroad system. To amend Act No. 159 of the General Assembly of the State of Louisiana, regular session of 1912, incorporating the City of New Orleans, so as to include therein additional provisions authorizing and empowering said City of New Orleans to extend, maintain, operate and develop its public belt railroad system beyond the Parish of Orleans into any adjoining parish or parishes. Section 1. Be it enacted by the General Assembly of the State of Louisiana, That Act No. 159 of the General Assembly of the State of Louisiana, regular session of 1912, incorporating the City of New Orleans, be and the same is hereby amended so as to include therein the following additional provisions, to-wit:— The City of New Orleans shall have and is hereby vested with of New Orleans to power to extend, maintain, operate and develop its Public Belt extend its Public Railroad system beyond the Parish of Orleans into any adjoining parish or parishes, which said power shall include authority to lay all tracks, sidings, switches, spurs, crossovers and all appurtenances and accessories thereto in said adjoining parish or parishes, to build therein all depots, terminals, roundhouses, warehouses, sheds, stations, signals and other structures incident to the equipment, construction, maintenance and operation of said Public Belt Railroad system as the same may be extended, to acquire, by purchase or expropriation or otherwise such property and rights of way therein and do all such other things as may be necessary for the extension, construction, equipment, maintenance and operation of said Public Belt Railroad system; and the City of New Orleans shall enjoy in said adjoining parish or parishes all such rights, powers, privileges and immunities with respect to said Public Belt Railroad system as it now enjoys with respect thereto in the Parish of Orleans. Το be approved Provided, the said City of New Orleans shall first obtain the by Police Jury and permission, approval and sanction, in writing, of the police juof two-thirds of ries and of two-thirds of those owning property abutting on the proposed route of said public belt railroad. a but ting property owners. Repealing clause. Section 2. Be it further enacted, etc., That all laws or parts of laws in conflict or inconsistent with the provisions of this act be and the same are hereby repealed. HEWITT BOUANCHAUD, Speaker of the House of Representatives. Lieutenant Governor and President of the Senate. Approved: July 6, 1916. A true copy: R. G. PLEASANT, Governor of the State of Louisiana. JAMES J. BAILEY, Secretary of State. ACT No. 168 Proposing an amendment to Articles 225 and 226 of the Constitution relative to assessment and taxation. ACT NO. 169. House Bill No. 258. By Mr. Powell. AN ACT To amend and re-enact Section 27 of Act No. 170 of the Acts of 1898; requiring banks, banking corporations, associations or firms engaged in the banking business to render a statement to the assessor within the first twenty days of January of each year, providing what the statement shall contain, providing the method of making an assessment thereon, and providing a penalty for neglecting or refusing to render such statement. Section 1. Be it enacted by the General Assembly of the State of Louisiana, That Section 27 of Act No. 170 of 1898, be amended and re-enacted so as to read as follows: sessor verified statement. "Section 27. Be it further enacted, etc., That it shall be the Requiring banks duty of the President, Vice-President, Cashier or other officer to file with the As of any bank, banking corporation, association or firm which is now or may be engaged in the banking business in the State of Louisiana, to file with the assessor of the parish or parishes, assessment district or districts, in which it conducts such business, or maintains a branch or branches, within the first twenty days of January of each year, a statement verified by affidavit showing its capital, surplus and undivided profits, as well as a description of any real estate owned by it and the value at which such real estate is carried upon the books of said corporation, association or firm at the close of business on December 31st, preceding; and in the event said bank, banking corporation, association or firm shall maintain a branch or branches and has apportioned its capital, surplus and undivided profits for use at its main office and among its said branch or branches, the amount of such capital, surplus and undivided profits so apportioned to, and used at, its main office and each of its branches. If any portion thereof is invested in real estate in connection with the business of its main office, or a branch or branches; said statement shall contain an accurate description thereof, and the value at which it is carried upon its books, and the branch to which said real estate is charged. It shall be the duty of the assessor of the parish or district in which such real estate is located to assess such real estate to such bank, banking corporation, association or firm, and the assessor of the parish or district where the main or branch offices are located shall deduct the amount at which such real estate is Duty of Assessor. Penalty. Repealing clause. carried upon the books of such bank, banking corporation, association or firm, from the capital, surplus and undivided profits thereof, and make an assessment for the current year upon the capital, surplus and undivided profits remaining after deducting the value of said real estate so used or acquired in connection with the main office or any branch from the capital, surplus and undivided profits set aside and used at such main office or branch. He shall then levy an assessment against the bank upon the basis of the capital, surplus and undivided profits apportioned to and used at such main office, or branch, less the portion thereof invested in real estate, in the parish, ward, municipality or assessment district in which such main office or branch is located, and not at the domicile of said bank, banking corporation, association or firm. In case of failure to file such statement within the first twenty days of January, or in case the statement so filed does not contain sufficient information, the assessor shall demand a full and complete statement, and any officer or officers failing or refus ing to furnish such within five days after such demand, shall be guilty of a misdemeanor, and on conviction shall be punished by fine or imprisonment, or both, at the discretion of the Court. Section 2. Be it further enacted, etc., That all laws or parts. of laws in conflict herewith be and the same are hereby repealed, and that the assessments for the year 1916 shall be made in accordance with this Act. HEWITT BOUANCHAUD, Speaker of the House of Representatives. FERNAND MOUTON, To provide on what conditions corporations may engage in the business of certifying to the ownership of title to real property, or of guaranteeing such titles, or of guaranteeing the owners of real property against loss by reason of defective title thereto, or encumbrances thereon, or of guaranteeing the validity of mortgages and mortgage notes secured by real property, and providing penalties for violations of the provisions of this Act. |