Show california syndicate acquires leases on large acreage at crescent and will sink a number of wells several weeks ago the times in dependent published an account of the potash discoveries at the cres cent eagle well in this county and discussed in some detail the probable development that would follow it now appears that this development will not be slow in getting under way the crescent eagle company this week executed a lease to california interests alio will commence at once to explore the extent odthe potash beds the company proposes to start drilling within forty days to make a thorough test of the potash possibilities of the district three wells will be drilled the same california interests have also acquired from the state land board a lease on 2480 acres of land in the crescent vicinity the lease was issued to william armstrong a los angeles capitalist who represents a large syndicate interested in potash development the lessels lessees have given the state the assurance that drilling will start within a month and several holes will be put down to a depth of from 2000 to feet the company proposes to expend upwards of a quarter of a million dollars the first year in development and prospect work the state leases carry a rental fee of 50 cents an acre for surface rights and a royalty of five per cent on all production the ballings bai lings from the crescent eagle well run high in potash content the samples running from 14 to as high as 37 per cent it is believed that crescent district will be able to produce the count rys supply of commercial potash |