Up and Down the Street r- r rr r Oil Gas lease Receipts Boost Utah Revenue Hy By Robert V. W. Bernick Oil and gas piS lease activities in the thelast thelast thelast last six months have resulted in insubstantial n substantial increase in m revenues to the thc state of Utah State Finance Commissioner P. P H. H Mulcahy re reported rc- rc ported Tuesday Receipts of the slate lan land board I from all sources for the months of 1930 1950 totaled as against ag I for lor the some period in rn t 1949 Oil and gas Jas leases and m other r f mineral lease receipts jumped from fromI for 01 the first half of oC last I I 1 year to for lor the first months of 1950 I 1 r Practically all of oC these funds are arc 1 1 from rentals and fees paid b by those 11 interested in oil and natural gas has I Ii i explorations on state lands Mr f Mulcahy said I II I I Lands under lease for oil and i gas as purposes increased from 22 acres to acres i I When withdrawals are considered con con- this increase in acreage I during the last six months is even cn more significant Mr Mulcahy hy cx- cx I He added that the state has only I four sections of every evelY 36 sections in every township The remainder belongs s to the federal government o Therefore he deduced that most of the federal acreage was taken at atthe atthe atthe the same time tune the state acreage was as filed upon State grazing razing lands also underwent underwent under under- went rent a lease play Amount of of lands ands under lease to ranchers increased increased increased in- in creased from acres during durin- the first half of 1949 to acres for the first six months of this year Ye r. Receipts were ere up from 4 to Md Mulcahy noted in increases increases increases in- in 1 creases in revenues from royalties I Imd and md interest on investments as well during the last six months Oppose Revenue Act The Utah Mining l ning has asked congress to turn thumbs thumbs' down on two proposals in a pending pend- pend i ing inS revenue act which would deal deal I i 1 double barrel blow at the in in in- They include 1 Changes in existing law aw prevent ent the charging off of development and exploration j I c costs 0 s t s on successful prospects j 1 against ag current income and 2 changes making losses on depreciable depreciable depreciable depre depre- property or real estate deductible deductible deductible de de- de- de only from capital gains Telegrams rams opposing the law 1 were di dispatched patChed by the U UI UMA M A A. to I Sens Walter altel F. F George Geore CD D. D Ga GaJ Edwin C. C Johnson D D. Colo Cob and Eugene D. D Millikin R. R Colo Cob j i They are arc members of the senate senate senate sen sen- ate finance finance committee considering the leg leg-isla legislation I