| OCR Text |
Show Oil Company Bids Highest for Utah Coal Lands Richfield Oil Corp., Los Angeles, An-geles, Thursday was high bidder bid-der in a coal lease auction conducted con-ducted in the U.S. Bureau of Land Management offices, 320 South Main St., Salt Lake City. On two tracts of land in Kane County totaling 2,080 acres, Richfield Oil Corp. bid a total of $18,520. J. E. Keogh, BLM Utah land office manager, said H. S. Clark, representing Richfield Oil Corp., bid $9.25 an acre for 640 acres approximately 70 miles northeast north-east of Kanab, and bid $8.75 per acre for 1,440 acres approximately approxi-mately 60 miles northeast of Kanab. Bidding for the 640 acres began be-gan with a written bid submitted submit-ted for $1 per acre and continued contin-ued orally at 25 cent increments. Three different bidders were represented. This tract comprises com-prises all of section 9 in township town-ship 40 south, range 4 east. Four bidders competed for the 1,440-acre tract beginning with a $1 per acre written bid and continuing with 25 cent increments. incre-ments. This tract includes the southeast quarter of section 20, the west half of the southeast quarter of section 28, the northeast north-east quarter of section 29, the northeast quarter of section 33, the north half and the north half of the south half of section 34, all in township 40 south, range 4 east. Mr. Keogh noted that both tracts are unsurveyed and it will be approximately 18 months until surveying is completed. Thursday's bidding was for the privilege of mining coal and the successful bidder must pay, in addition to his bid, the usual rental for the land plus royalties royal-ties for coal mined. |
