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Show COHHISSIONER (IF INDIAN AFFAIRS. 123 drilled before March 20 last, the gas from which is not utilized, the first payment became due thirty days from that date. Later pay-ments for such wells are made in advance at the first of each succeed-ing year dating from the first payment. In addition to the royalty mentioned, lessors must be paid annually in advance 15 cents per acre for the fint and second years, 30 cents for the third and fourth years, and 75 cents for the'fifth and each suc-ceeding year during the life of the lease, the money thus paid '' to be a credit on the stipulated royalty should the same exceed in any one year the amount of the advanced payment." Lessees are required to give bonds in sums ranging from $1,000 for a lease covering 80 acres or less, to $2,000 for a lease covering 160 acres, and an additional amount of $500 is required for each 40-acre tract or fractional part thereof above 160 acres. No lease can be sublet, transferred, or assigned without the eonsent of the lessor and approval of the Sec-retary of the Interior. In addition to furnishing bond and otherwise complying with the regulations, corporate lessees must show by affidavit, briefly stated: Total number of shares of stock actually issued. Amount of cash paid on each share. If shares were paid for in property, kind, quantity, and value of the same per share. Amount of sto+ sold, amount per share unpaid and subject to assessment. Amount of cash in the treasury of the corporation and elsewhere, and source from which it was received. Amount of deposit to credit of company and subject to check shown by affidavit of officers of bank. Total indebtedness of company and nature of same. Experience officers of company or others connected with, or em-ployed by it, have had in the oil or gas or '' any other bnsiness." What property, exclusive of cash, is owned by the company, and its value? Amount of cash company has on hand available for mining. Individuml lessees must show : Their financial responsibility. Amount of cash on hand. Experience in oil or gas " or other business." Amount to credit of the lessee shown by affidavit of bank officers. As a general rule lessees are required to make a showing of $5,000 actual cash on hand and available for bona fide mining operations for each lease, irrespective of the area covered, but the Department has |
