Show Royalties on Oil Leases w RILE nua it t is provided in the new land leasing law T V V that the minimum ro royalty ally exacted by the govern govern- ment is 2 12 per cent the maximum is to be fixed fixel by the secretary of the tho interior by or y competitive bidding the principle I bein being that the greater the output the t larger pe percentage the government go takes for royalty Already there is some sonic dissatisfaction expressed over tho the possible injustice to leasers who will have developed oil within the th six six months period allowed for prospecting only to find they must face a bevy of bidders before they can ean lease tho the lands to which by every right they arc are entitled en- en titled Of course the tho secretary of the interior has bas the option of ot fixing the tho royalty in such a a. case or putting the tho lease up a at au auction tion but tho uncertainty as to the outcome is discouraging to capital and will naturally retard de de- de e- e of new fields on the public domain The western prospector is always willing to take a gamblers gambler's chance but he is is usually ready to quit if he sees the cards are arc stacked against him The law Jaw should be bo amended d in this respect so that tho the licensee know may the tho exact t requirements re re- re- re of his lease before he risks hi his money in exploration That is only fair It lIt costs a great deal of money to drill for or oil because be be- cause great depths must be attained It requires pluck and determination and optimism as well veIl as capital and hence the r reward ward should be definite nite and certain Suc Sue cess should hould be be compensated not wet Th There re should bo be a n. united effort of the west the west to secure curative I legislation n. n iA in this his important matter |