OCR Text |
Show PROFIT WITHOUT RISK. It is interesting to note that the reported receipts of the federal . govern nent from bonuses, royalties and rentals under the law provid- , ing for leasing mineral rights on the public domain aggregated , $13,627,588 for the year ending June 30, 1924, from oil lands in ', eleven states. I Thirty-seven and five-tenths per cent, of this sum goes to the 'states from which the oil was taken, 52.2 per cent to the reclamation ! fund and 1 0 per cent, is placed in the federal treasury, j What a contrast these actual cash receipts are from the oil 1 wells financed and developed by private enterprise compared with public expenditures which would have to be made to produce the same net profit. Under the leasing system the goverment stands no loss for dry wells and is assured of an absolute profit on every barrel of oil. |