Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1920-01-12
4, 762, 1873. 80 ACRES PUBLIC -"
LANDS IN STATE LEASED FOR
NOMINAL RENTAL BY OIL MEN

to one who looks at the matter from
the standpoint of the taxpayer who is
anxious that these lands should real
ize as large a sum as possible for the
trusts for which they We're granted,
this seems a very short -sighted-a
very pennywise, pound foolish policy
indeed. There is no reason whatever
why all the stae land should have
been leased for oil for merely nominal
rental, which as the list shows is the
case today. We are told that in order
to secure development by legitimate
oil companies, it was necessary to
make the first lease at very low fig
ures. That is probably true-but'
tested by this measure, what are the
facts as shown on the face of the re-
turns?
The total amount realized to date
for first payment on oil leases (and
a very few second payments) is $l26,-
45O.76 for leases on 1855 acres,
This means total Of .016S q and 6S-
100 cents) per acre. The total num-
Der of these leases is 432. OF the to-
,al acreage so leased, 4,O72,l8S.SO
acres has been leased to seventeen
lessecs for the total payment of $47-
S64.5O, or almost exactly | cent per
acre which is about 40 of a cent less
than the average for the whole. Ihese
seventeen lessees follow:
Memorandum of leases made by
the state of New Mexico up to NO
yember /, 1919, for oil drlliihg' leases
over 100, 600 acres, with atilouh'S VI
first payments made therefor;
Howard NJ Moore. 61l,T4S'io acres
Sc, 900 at .00S1 per acre.
Northeastern New Mexico on com.
pany, 536,512.24 acres, $5'ooo at
O065 per acre.
Fred S. Brown, 523.951.o2 acres,
IS 900 at .O095 per acre.
Roswell oil Development con,panN'
4SS,310.13 acres, S5,7S9.5o at VIZ per
acre.
Toltec oil company, 372,676.sf
acres, $1,000 at ,000S per acre
]. A. French, S19,373.G5 acres,
$4,625 at Ola per acre.
II. f. Cantrell, 2SS,762.2l acres
$4,000. .oo
]. smith, Lea, PATIO acres, $4,000
- c. B, Morgan. 2OS,s1s,77 acres
Jaffa Miller, 2os,71o.os acres
Harry Thorne. 1S2.51s.S7 acres,
$4,000 at DIS per acre.
C. ]. Mapes. 152,6SS.45 acres, LOU.
j. T.. Wayne, 149,795 acres, Sl,OoV'
j. l.. Stewart, 144,193.4O acres, $5,-
500 at .O402 pei acre. $40
j. T. Atwood, 1Os,696 acres, 81 0V0.
II, Q, Bursum, 109,0s7 acres. $1,000
O. f, Fcastenten, 100, 425.O5 acres,
| $1,000.
Total 4,762,13S.SO acres, $47,s645o
at .0102.
These leases. all over 100000 acres
| each, range in price per acre from
| $40 of a cent to a little over four
cents per acre. The first large
lease granted by the state was to the
| Toltec Oil company, of about 5to,oVU
acres for a total consideration OF
| $1,000, which of course was mercy q
nominal consideration and was zone
| by the late Mr. Eryien TO get tha'
| company to actually do drliilns WORK
The company has done a lot OF WORK
in Santa Fc, San Miguel ana some II,
| Chaves county and has spent grea'
many hundred of thousands of dol
| lars in, so far fruitless drilling. Al
| other big leases enumerated with one
I
parties who, as far as one can Judge
have themselves no intention what
ever of doing actual work that IS
they must rely if the work is to ps
done to get others to do 1t Tor them
And it is proper that these intermedi,
aries should have a good margin OF
| profit But it is not proper, IN my
opinion, that, there Is to be a prom
that the Intermediates between the
state and the developers should ge'
all the speculative profit and the state
practically none of ittat alt
The largest leassee from the state
is Mr.. Howard NJ. Moore. who has II
his name over 600 900 acres of state
leases. Who Mr.. Howard M. moore
i is is not apparent Perhaps he is {
bona fide oil operator. Let US hope
SO. II is apparent that he stands vel
with the land office, as his average
iprice per acre for the leases he holt