Deming graphic. (Deming, N.M.) 1903-1948, 1917-02-02

der Legislative authority Commits
,ioner Ervien during the past yeaI
completed q lease with private cor
poraiion by which the corporation i
under bond TO sink 20 wells to al
average depth of 1900 feet in an ex'
ploraiion for oil. The lease covers q
large area of central and southeast
ern New Mexico and by its terms
which are detailed in the report. thu
state will receive royalty of 10 PEI
cent of III oil. gas or other minera
discovered aud produced. and rem
tai of 12c and poe an acre respec'
lively ON lands of the minimum valn'
of - and - per acre, for all land
not surrendered by the leasing com
pany at the end of the two year pc
Rod Drilling is now under way neal
Lamy and northwest of Roswell I'M
der this contract. the fulfillment OF
which is protected by an adequate
surety bond.
The report indicates that at the
present rate of demand all state land
will be under income producing lease
before the end of the current fiscal
wear and that the annual income FOL
the fiscal year will reach and may
exceed II 1000. 100000.
Detailed statements are given
showing distribution of ownership OF
the grants to each institution and
state purpose, with the status of the
acreage owned by each, rs to lease
or sale. and the productive and nm
productive acreage. the latter now II
negligible quantity with majority of
the institutions. The arduous work
of selecting the vast acreage Is COW
cred IN few sentences. stating the
nolicy of the land board as outlined
above, and necessitating an accurate
knowledge of the land situation in
every county in the state. the opera
tions covering an area of lG 900
square miles. There is an exhaus-
live statement of the 'lieu land" stu
alton. being the right of the state 10
select lands in lieu of school sections
>. Ii. % and &c. which may have
been Withdrawn for whatever cause.
prior to date of the grant To the
state. and gives AN interesting outline
of the manner of selecting such lands
and Of lands To which the state has
equitable title" These latter are
lands which the state has selected
hut which have not been approved
finally and decided. or "clear listed.
~ il i, termed. To the state by the
interior department. The state has
jurisdiction over these lands and may
lease them, bu, can not pass title I'M
I'll they have been "clcar listed" and
therefore can not complete sales.
THE ESCROW FUND DEPOSITS
These equitable title" lands total
.. lO5.270.0s acres. OF this total
about 100000 acres are held by the
interior department To he mineral
lands" and are chiefly lands IN the
Gallup coal fields of Mckinley coun-
~. The states contention is that
these lands were not known TO bear
conl or mineral when the grants were
made and that title passed to the
state at that time. The commission
or states that determination of the
question by the United States SUI
prcme court will be necessary aud
gives his reasons for expecting the
decision Ia be favorable To the state.
The rest of the equitable title"
lands are those whose "clear listing
has been delayed by red tape. pro-
crasiination or congestion of bust
ness in the general land office aud il
j. IN connection with these lands that
there has arisen the question of the
proper trusteeship of approximately
1900. 900 now held in trust by the
commits sioner in various bonded de-
positories. As applications have been
made to select lands for purchase,
the commissioner in each ease has
required Il deposit of 10 per cent Of
the minimum purchase price to in
sure good faith, so that when the
lands applied for have been clear
listed" the state hay not be left with
land which il otherwise might not
have selected, but will be sure Of u
The money is deposited
N trust, To apply ON the purchase
,rice when the contract of sale is
or to be returned 10 the
applicant should he prove an unsuc-
'essfu bidder at the public auction
following ten weeks of advertisement |
n the newspaper nearest the land,
he procedure by which all state
ands are sold. The wisdom of this
'equired deposit has been shown a
lumber of times, notably during the
.a1t s.... .rt1~ al. l~.l