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R. S. 3805-Act 90, 1892

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 or 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. [Formation Prohibited, etc.]

SECTION 1. 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 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.

[Violations by Corporation-Penalty.]

SEC. 2. 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

R. S. 3805-Act 90, 1892

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.

[Foreign Corporations-Penalty.]

SEC. 3. 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. [Violation a Conspiracy, etc.—Penalty.]

SEC. 4. 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 a fine of 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 and the 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.

[Indictment, What is Sufficient In.]

SEC. 5. 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, acted 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.

[Not Necessary to Name All Persons Concerned.]

SEC. 6. That in prosecutions under this act, it shall not be necessary to prove who constitute all the members belonging to the trust or combination.

[Contracts Declared Void.]

R. S. 3805-Act 86, 1890

SEC. 7. That any contract or agreement in violation of the provisions of this act shall be absolutely void.

[To What Applicable.]

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

[Repealing Clause.]

SEC. 9. 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.

See Act 110, 1900. To prohibit combinations by fire insurance companies, printed at p. 890.

TRUSTS AND MONOPOLIES.

Act 86, 1890, p. 90.

AN ACT to protect trade and commerce against unlawful restraints and monopolies and to provide penalties for the violation of this act.

[Contract, Combination, etc., Declared Illegal.]

SECTION 1. That every contract, combination in the form of trust, or conspiracy, in restraint of trade or commerce or to fix or limit the amount or quantity of any article, commodity or merchandise to be manufactured, mined, produced or sold in this State is hereby declared illegal.

[-Offense Declared a Misdemeanor.]

SEC. 2. That every person who shall make any such contract, or engage in any such combination, or conspiracy, shall be deemed guilty of a misdemeanor, and on conviction thereof, shall be punished by fine not exceeding five thousand dollars, or by imprisonment not exceeding one year, or both of said punishments, in the discretion of the court.

[Penalty for Monopolizing, etc.]

SEC. 3. That every person who shall monopolize, or attempt to monopolize, or combine, or conspire with any other person or persons, to monopolize any part of the trade or commerce within the limits of this State, shall be deemed guilty of a misdemeanor, and, on conviction thereof, shall be punished by fine not exceeding five thousand dol lars, or by imprisonment not exceeding one year, or by both said punishments, in the discretion of the court.

Act 176, 1894-R. S. 3806

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.

[Rebate Certificates Which Are Illegal.]

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.

[Illegal Conditions in Certificates.]

SEC. 2. That it shall be and is hereby declared illegal to impose as & 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.

[Defense Which May Not Be Urged to Certificates Issued.]

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 82, 1886. Rebates by insurance companies, p. 892.

TRUST FUNDS.

[Funds to Purchase State Bonds.]

3806. 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

R. S. 3807-3809

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).

[How Bonds Shall be Purchased.]

3807. 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.

[Payment of Interest on Funds Used.]

3808. 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, 1879, ordinance "State Debt,' " and title "State Debt," at p. 1770, and note, at p. 1772.

3809. Interest on proceeds of United States land grants, how appropriated. See Sec. 2957.

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