The evening herald. [volume] (Albuquerque, New Mexico) 1914-1922, 1921-04-10

BY, provided no such cancellation
shall become effective until thc first
day OF October next, after such no.
tlcc."
Now the question as to whethot or
not the reservation which b. con-
taincd In an grazing leases Issued by
the commissioned OF public lands Of
the right To cancel n lease upon
so days not 70 al h end OF any year
has not been settled by the courts.
There are conflicting Views on that
and 80 far as I know there is no liti-
cation pending which would deter
mine that question.
I personally am ~ the opinion hat
the commissioned can exercise hat
authority when that provision or res-
~eryation ia Inserted IN the contract.
but Il was the sense OF the committee
and various representative OF the
livestock interests. including their at
torney. and OF officials OF the land
office. that state land matters prob
ably gotten 90 a fairly settled on
dition at this time W that u is prob
ably a good business method On tho
part uf the office, and 10 b. certainly
in the interest 81 the stock grower
to be able o. obtain n lease which
shall run for its express term, whcth-
cr n be one year or five years, or
whatever Il De. without any cuncclih-
lion privilege, and u was for tho
purpose 81 EcttiaE around 10 that
basis that ths elimination Of that
provisions Of the statute which I just
read was recommended. and that Wa
accomplished by house hili No. IS ~
passed az the last legislature.
Taxing state Land.
Row there has been "a great deal
nf dissatisfaction aud q great deal of
MISUNDERSTANDING concerning taxa
lNNNn Ff ufuNE lind fwFHrsFfH and
am lu some doubt yot as to whether
this iH Tho solution OF The mattel
which we nave m hous, bill No. 40
aH amended. Al ans rate this b one
hil which ! know you gcntlcrAen
win be- glad 10 hca- about. because
h dots give YOU some relief. II Is
a. step forward. at any rate. and Il
trafy minimum valuation OF state
land contracts Tor the purpose Of tax.
alton. The law OF 1879 provided thai
In no event should any state land
contract be taxed at less Than 40 pei
cent OF n purchase price. Plainly
that was uu attempt 20 fiN an nrhl-
trary minimum, which Is very qucs.
tionAble ~ 90 It's constitutionnlity.
TN statute a. enacted by the last
legislature and as embodied In house
bill No. 80 merely remover that a.
Der cont minimum. u provides tina
the legal and equitable Interest arts.
ing under and accruinE 60 the owner
% any contract Tor the purchase OF
any state lands shall hp taxed IN
such wne or %contrnctcr az the full
cash value Of such legal aud cuuit
able interest. with u proyiso that IA,
assessed value Of such legal and
equitable Interest shall not exceed "a,
percentage of the purchase price paid
up To- the date ~ such assessment.
I take that to meal this. that
where a person purchased a picc,
~ land from the state ana has paid
down unc-unh OF the purchase price
We viii say Tor example. the purchas,
price ucing $500 an acre. but sine,
the time OF purchase the lend IVA.
actually raised in value 90 $1,000 al
acre DE will be- taxed ON tho basis
not % Sc 0 but Of $500. which /,
atil onc-nuh OF the value Of th,
land That was the intention 81 IA,
committee that sponsored this bill
and "" think probably that is whs.
INV Are in Arrears.
] night say further hat conccrn
lug the rentals which arc due nnt
"a" payments ON contracts which az.
duo, tho disposition of tho land al
flee D. to recognize tho u sent situ
alton "f the stockmcn and u is no
the Intention 20 declare any forfo.
lures OF cancellations Of any lease
or contracts without ION notice an.
with giving those who are under oh
legations OF that Kind an the tim
that could reasonably boz required q
meet their paymcn'a might alHI
say that We haven't many l@Cssccs %
purchasers in arrears Most Of ther
are paid up. I think probably owe
80 per cent are paid.