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Show 124 REYORTS OY THE DEPAXTMBNT OE' THE INTEKIOR. held m many instances that a showing of $40,000 actual cash on hand available for mining operations, is sufficient to entitle the lessee, whether corporation or individual, to the maximum area which any one company or person may lease under the regulations, to wit, 4,800 acres. Lessees whose bonds were approved before March 20, 1905, are required to drill at least one well on the premises covered by each lease within twelve months from that date, and lessees whose bonds have been approved since that date, or may hereafter be approved, are required to drill at least one well on the land covered by each lease within twelve months from the date of the approval of the bond. If a lessee fails or refuses to drill at least one well on the land covered by each lease in his favor within the time above stated, such lease may, in the discretion of the Secretary of the Interior, be de-clared null and void, "with due notice to the lessee and proof of the default."' All lessees are required to file their leases with the United States Indian agent at Union Agency within thirty days from the date of their execution, and to satisfg the Department that such leases were made in good falth for the purpose of mining oil and not for speculation or resale. The regulations governing the leasing of lands selected by citizens of the Cherokee Nation seem to be entirely sufficient for the purpose intended. Since they were last amended there has been very little friction of any character, or complaint concerning the regulations. This is also true with reference to the Creek regulations. DPIP081T8 IN BANKS. Under the regulations governing the leasing and sale of Creek lands and the leasing of Cherokee lands, as amended on March 20, 1305, the royalty accruing from the leased lands of minors and incompetents, as well as the money arising from the sale of lands ullotted to Creek Indians, will be deposited in designated hanks at interest, which hanks are required to give bond to pay the stipulated interest and to '' well and truly account for all deposits heretofore or hereafter so made and all interest accruing thereon, and hold the United States, the officers thereof, and the individual depositors , harmless from all loss by reason of such deposit or deposits and the interest accruing thereon." The Office has designated as such deposi-tories, the Bartlesville National Bank, the First National Bank of Tulsa, the First National Bank of Tahlequah, and the Commercial National Bank of Muskogee, all of Indian Territory. Each bank is required to give bond in the sum of $25,000, with some authorized surety company as surety. |