The Hocking sentinel. [volume] (Logan, Ohio) 1871-1906, 1886-10-14
The Question Of Leases.

in the past week. There are one or
two points regarding these instru-
ments that We want to call the at
tentlon of our readers TO, especially,
those who are not In the habit OF
reading closely papers of a like
character.
"In consideration of one dollar"
certainly q reasonable sum, 'the
land owner grants, demise and farm
to let, to said company, its success
ors and assignees for the purpose of
boring, mining, quarrying and oper-
ating for petroleum, coal, rock CT
carbon oil, salt water, volatile sub
stances or gas. ores and other min
erals, the following real estate, viz"
(Here comes a note of loca ton and
description of land.)
The company to have and to hold
the land for ten years, with the priv
ilcge of continuing the lease for ten
years. The land owner further
covenants with the company, its
successors and assignees, that it or
they shall have the right Of way 10,
from and across said land, and the
right to lay branch or spur railroad
tracks to, from and across said
lands, and the right 10 erect build
ings, upon and to make the use of
said land necessary to carry on op
era:ions under the lease.
The company in consideration of
the lease agrees to keep an account
of all oil, coal, ores and minerals
obtained and taken from the land.
The accounts to be open to the in-
spection of the land owner at all
reasonable hours. The company
further agrees to pay 25 cents per
ton for all coal and ores, cents
for all stone mined or 9uarried and
ten per cent of the price obtained
for all oil obtained and takon from
said land.
Now. take the lease so far, and 1t
grants about all any reasonable COM
pany could ask for. We will now
see what the land owner is to re-
ceive. The TWENTY-FIVE cents roy
atty on every ton of coal mined is
too much and is more than could
be paid if coal was found in South
ern Hooking, SO we must accept this
offer as the flyer that is to catch the
land owner. Twenty five cents roy
atty on ore would be fair at the
present price of iron. If iron should
be worth S25 to $50 per ton, it
would be too low. Ten per cent of
the price obtained for crude oil
would be low figure. Again there
may be some very valuable build
ing rock, and it should be provided
that the land owner. should realize
on all taken from The lands.
The contract states explicitly that
the company shall have the exclu-
sive right to bore, explore, operate,
mine and quarry for oil, gas and
minerals. 1t is not improbable,
while speaking of minerals, that
the same rich veins Of fire and pot
ter clays that have been developed
in this region, will also be found
throughout the southern part of the
county. If then nothing more
than gas ond clays should be dovel-
oped, the company couldat once.start
fire brick works. tile factories, IN
dustrIes indeed, that would be
profitable, but would not, under the
provisions of the lease, bring one
cent to the land owner. The
land owner would have given away,
as stated in the lease, the right TO
build a spur or branch railroad
over every available piece of farm
ing ground he might possess the
right, if the company deemed it nec-
essary, to simply tear up the farm
from one end TO the other.
This is one point that demonstrat-
es, we think, that the land owner
may get badly left.
It's provided IN the lease that if
the company fails for the period of
six months after the Lancaster and
Hamden or other railroad is built
to Bloomingvilie, TO make u test or
exploration upon or under said land
for oil, gas, &C, the land owner may
notify the company, that unless the
the test. exploration ETC., aforesaid is
made within ninety days. the lease shall
be void. The L. and II, R. R. OF other
railroad may not be built for twenty
years, and under this lease the land
owner will be powerless in that time to
give the right of way to any other en-
terprise, and leaves his possessions in
the hands Of men who may, if they de-
sire, bar out everything else, unless
they should get their price for the
privileges they hold. 1t would also
render the land owner powerless to give
a clear title to the land if he should de-
sire to dispose of it.
Again, the land owner might. under
the provision of the lease, have the
land put in such a shape that rabbit
could not live on it; ii might be in |
such shape for twenty years, that the |
owner could not realize one cent from |
the wreck and ruin.
We co not object 10 the Development |
OF our resources, but pray our readers |
that they read closely and intelligeatlv !
all leases presented to them, that they |