treasurer shall wilfully and illegally refuse to pay any warrant lawfully drawn upon the treasury, having the funds in hand to pay the same, he shall be deemed guilty of a misdemeanor in office, and, upon conviction thereof, shall be fined in a sum not less than five hundred dollars, for the use of the State, and shall forfeit and pay to the holder of such warrant fourfold the amount thereof, to be recovered against him and his security on his official bond.

33 An. 703.

3785. Clerk and His Salary.-The treasurer shall be allowed a clerk, whose salary shall be two thousand dollars per annum. Const., Art. 78.

3786 to 3792. Neglect of auctioneer to pay duties, etc.; their quarterly accounts; settlements with treasurer; oath thereto; reports when no sales are made; time allowed for making payments, etc. See Secs. 146 to 152.

3793. Description of securities deposited by banks; duties of auditor in the premises; securities, how delivered, etc. See Sec. 289. 3794. Duty to subscribe to stock of railroad, etc., companies, when authorized by law. See Sec. 715.

3795 to 3797. Metropolitan Police Fund repealed. See Act 25, E. S. 1877, p. 57.

PROVISIONS FOR INTEREST ON THE PUBLIC DEBT.

3798. Loans for Payment of Interest-The Governor and Treasurer are authorized, and it shall be their duty, to effect from time to time such loans of money as may be necessary to provide for any deficiency in the treasury, which deficiency would prevent the payment of accruing interest on the bonds of the State; provided, the interest paid for such loan shall not exceed seven per cent. per annum, and that no commissious shall be allowed for procuring said loan.

To secure such loaus the Governor is authorized to issue and pledge a sufficient number of the bonds of the State, provided for by an act approved February twelfth, one thousand eight hundred and sixty-six; Provided, That such pledge shall not authorize or permit the sale of said bonds so pledged within one year from the date of said loan, nor at any time thereafter, except at public sale in the city of New Orleans, on public advertisement in the official journal of the State, and three other daily journals, for the period of at least sixty days; And provided, That not less than fifty cents shall be borrowed for each dollar of bond so pledged.

The money realized from any loan authorized by this joint resolution shall be paid into the treasury of the State; and the Treasurer is hereby forbidden and prohibited from paying out such funds, except for the purpose of canceling the accruing coupons of interest

of the bonds of the State; the full purpose and intent of this resolution being to protect and preserve the credit of the State (Act 48, 1869, 44).

See Constitution ordinance" State Debt " and title "State Debt," at p. 884.

CURRENT SCHOOL FUND.

3799 to 3802. Account thereof; application; interest on investments; how applied, etc. See Secs. 1326 to 1329.

See Act 116, 1890. Bonds of Free School Fund to be stamped, printed at p. 327.

INTEREST TAX FUND.

3803 to 3805. Tax to pay interest on debt; interest tax fund; repeal of conflicting acts. See Secs. 3820 to 3822.

TRUSTS AND COMBINATIONS.

Act 90, 1892, p. 120.

AN ACT to prevent trusts or combinations intended to restrain trade or to control the market value of merchandise, produce of commodities and to provide for penalties and punishment of persons, corporations, firms and associations of persons connected with them, and to promote free competition in the State of Louisiana.

SECTION 1. Formation Prohibited, etc.-That after the passage of this Act it shall be unlawful for any individual, firm, company, corporation or association to enter into, continue or maintain any combination, agreement or arrangement of any kind, expressed or implied, with any other individual, firm, company, association or corporation for any of the following purposes; first, to create or carry out restrictions in trade; second, to limit or reduce the production, or increase or reduce the price of merchandise, produce or commodities; third, to prevent competition in manufacture, making, transportation, sale or purchase of merchandise, produce or commodities; fourth. to fix at any standard or figure, whereby its price shall be in any manner controlled or established, any article of merchandise, produce, commodity or commerce intended for consumption in this State; fifth, to make or enter into or execute or carry out any contract, obligation or agreement of any kind or description by which they shall bind or have bound themselves not to sell, dispose of, or transport any article or commodity or article of trade, use, merchandise, commerce, or consumption below a common standard figure, or by which they shall agree in any manner to keep the price of such article, at a fixed or graduated figure, or by which they shall in any manner establish or settle the price of any article or commodity or transportation between them or themselves and others to preclude a free and unrestricted competition among themselves, or others, in the sale or transportation of any such article or commodity, or by which they shall agree to pool, combine, or unite any interest they may have in connection with the sale or transportation of any such article or commodity that its price might in any manner be affected. SEC. 2. Violations by Corporation-Penalty. That any corporation holding a charter under the laws of the State of Louisiana, which shall be convicted of a violation of the provisions of this act shall thereby forfeit its rights and Franchises, and its corporate existence shall cease and determine, and it shall be the duty of the Attorney General of his own motion and without leave or orders of any Court or Judge, to institute an action in the name of the State of Louisiana for the forfeiture of such rights and franchises and the dissolution of such corporate existence.

SEC. 3. Foreign Corporations-Penalty. That every foreign corporation, or any corporation organized under or pursuant to the laws of any State, who shall be convicted of a violation of the provisions of this Act is hereby denied the right and prohibited from doing any business within this State, and it shall be the duty of the Attorney General to enforce this provision by injunction or other proceedings in the name of the State of Louisiana.

SEC. 4. Violation a Conspiracy, etc.-Penalty.-That any violation of either or all the provisions of this act shall be and is hereby declared a conspiracy against trade, and any person who may be or may become engaged in any such conspiracy or take part therein, or aid or advise in its commission, or who shall as principal, manager, director or agent, knowingly carry out any of the stipulations, purposes, prices, rates, or orders thereunder or in pursuance thereof, shall be punished by fine not less than one hundred dollars nor more than one thousand dollars, and by imprisonment in the penitentiary not less than six months nor more than one year or by either such fine or imprisonment in the discretion of the court. It shall be the duty of the district attorneys in their respective jurisdictions andthe Attorney General to enforce this provision and any district attorney of any parish securing a conviction under this provision shall be entitled to such fee or salary as by law he is allowed for such prosecution.

SEC. 5. Indictment, What is Sufficient in.-That in any indictment for an offense named in this act it is sufficient to state the purposes or effects of the trust or combination and that the accused was a member of, actpe with or in pursuance of it, without giving its name or description, or how, when or where it was created, provided, that no contract or agreement or arrangement which does not include, or which can not be held to include a stipulation between the parties to share in the profits of any such contract, agreement or arrangement, or which contract, agreement or arrangement does not provide for or does not contemplate a profit or pool to be divided between the parties to such contract, agreement or arrangement, shall be held or construed to be in violation of the provisions of this act.

SEC. 6. Not Necessary to Name All Persons Concerned.—That in prosecutions under this act, it shall not be necessary to prove who constitute all the members belonging to the trust or combination.

SEC. 7. Contracts Declared Void.-That any contract or agreement in violation of the provisions of this of this act, shall be absolutely void.

SEC. 8. To What Not Applicable. That the provisions of this act shall not apply to agriculiural products or live stock while in the hands of the producer or raiser; nor be so constructed as to affect any combination or confederation of laborers for the purpose of procuring an increase of their wages or redress of grievances.

SEC. 9. Repealing Clause.-That this act shall take effect from and after its passage and that all laws or parts of laws conflicting with same are hereby repealed.

REBATE CERTIFICATES.

Act 176, 1894, p. 219.

AN ACT to declare it illegal for any corporation, or corporations, firms or individuals to issue certificates to be known as Rebate Certificates or any evidences of indebtedness, the contracts upon which said certificates are based being to control the business of the party or parties thereto.

SECTION 1. It shall be illegal for any corporation, or corporations, firms or individuals to issue certificates to be known as Rebate Certificates or any evidences of indebtedness, the contract upon which said certificates are based, being to control the business of the party or parties thereto.

SEC. 2. That it shall be and is hereby declared illegal to impose as a condition that said certificates or evidences of indebtedness shall be binding only in event said original party to whom same were issued, shall make all purchases from the firm or firms, corporation or corporations, individual or individuals, issuing same or connected in any manner with the firm or firms, corporations or individuals issuing same.

SEC. 3. That said firm or firms, corporation or corporations, cannot urge as a defense to any certificates issued, that their liabilities thereon are based upon the exclusive trade of the party to the contract.

See Act 86, 1890. Protection of trade against trusts, printed at P. 204.

TRUST FUNDS.

3806. Funds to Purchase State Bonds.—All moneys which may be received into the treasury from and after the first day of January, eighteen hundred and forty-nine, from the sale of any property belonging to the State, from the sale of any stocks or from any dividends due or to become due from any bank or banks not otherwise appropriated; or from any taxes due prior to the first day of January, eighteen hundred and forty-seven; or from any money now in the treasury belonging to the seminary fund or free school fund, or any moneys which may hereafter be received into the treasury belonging to said seminary funds or said free school fund, which are by law required to be vested into a permanent fund arising from the ten per cent. of the net proceeds of the public lands of the United States accruing to this State, or from any other source whatever; or any unappropriated surplus of the internal improvement fund and any unappropriated surplus of the road and levee fund remaining in the treasury at the end of each and every fiscal year, commencing on the first of January next, eighteen hundred and forty-nine; any moneys in the treasury at the end of each and every fiscal year, exceeding by fifty thousand dollars the necessary expenditures and appropriations according to existing law, shall be employed in the purchase of the existing outstanding bonds of this State not due, provided the same can be purchased at the rate not above par (Act 310, 1855, 393).

3807. How Bonds Shall be Purchased.-It shall be the duty of the Auditor and Treasurer to make up a correct statement of the balance and surpluses provided for in the preceding section at the end of each and every fiscal year; and after advertising thirty days for proposals, the said Auditor and Treasurer shall, with the Governor of the State, proceed to purchase such bonds as may be offered at the lowest rate, or on terms most advantageous to the State.

3808. Payment of Interest on Funds Used.-An interest at the rate of six per cent. per annum shall be allowed on all moneys employed as stipulated in the two preceding sections arising from the seminary fund, ten per cent. free school fund, internal improvement fund, and road and levee fund; and the same shall be carried to the credit of said funds respectively, and the interest so accruing to the road and levee fund and the internal improvement fund, together with the principal so employed, shall be reimbursed whenever the same may be required.

See Constitution ordinance "State Debt," and title "State Debt," at p. 884. 3809. Interest on proceeds of U. S. land grants, how appropriated. See Sec. 2957.

3810 to 3813. Accounts which treasurer shall open, application of school funds. Interest of U. S. deposit funds, how appropriated. Disposition of interest on bonds of free school fund. See Secs. 1326 to 1359.

3814. Interest on sales of Sixteenth sections or School land warrants, etc., how disposed of. See Sec. 2963.

3815, 3816. Institutions of learning may deposit certain funds with treasurer; investment thereof, interest how paid. Endowments, etc., to establish professorships may likewise be deposited; investment thereof, etc. See Secs. 1375, 1376.

3817 to 3819. Internal improvement fund-purposes; of what it shall consist; "road and levee fund." See Secs. 3821 to 3023.

3820. Tax to Pay Interest on State Bonds--It shall be the duty of the Auditor of Public Accounts at the end of each and every year, or as soon thereafter as he shall have received the assessment rolls from the several parishes and the city of New Orleans, to determine, by accurate calculation, what rate of taxation, on the total assessed value of all movable and immovable property in the State will be sufficient to pay the interest becoming due annually on all the bonds issued by the State, or those that may be issued hereafter, and said tax so ascertained and fixed is hereby annually levied upon the movable and immovable property that may be assessed in the State, and it shall be the duty of said Auditor of Public Accounts to notify the State tax collectors of the tax so ascertained and fixed, and direct them to collect and account for the same, in accordance with existing laws, or those that may hereafter be enacted; Provided, That nothing contained in this act shall be so construed as to conflict with the provisions of the act entitled An Act to provide means for the construction of levees by issue of bonds of the State for four millions of dollars, and to provide for the redemption of said bonds, approved March twenty-six, eighteen hundred and sixty-seven (Act 66, 1869, 66).

See title" State Debt," at p. 884.

3821. Interest Tax Fund.-The tax levied by the first section of this act shall be known as the Interest Tax, and when paid into the State treasury shall be credited on the books of the Treasury Department to a fund to be called the Interest Tax Fund, and shall be held sacred for the purposes contemplated by this act. It shall be the duty of the Auditor and Treasurer, as soon as this law goes into operation, to transfer to the "Interest Tax Fund," created under this act, whatever balance may remain in the treasury to the credit of the internal improvement fund, it being the intent and purpose to