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The Chanute Times
Chanute, Neosho County, Kansas
What is this article about?
Federal government to auction 440,000 acres of Choctaw and Chickasaw bituminous coal lands in Indian Territory over next two years, segregated by experts; aims to benefit small investors and prevent syndicate control. Potential yield: 1.76 billion tons; some already leased at 8 cents/ton.
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Coal Lands Of Choctaws And Chickasaws At Auction.
Ardmore, I. T., Sept. 17.-Four hundred and forty thousand acres of high-grade bituminous coal will be knocked down to the highest bidders by the federal government at auction sales to be held some time within the next two years. These lands, which now belong to the Choctaw and Chickasaw Indians, and which are located in Indian Territory, have, under the provisions of an act of congress, been segregated by experts of the geological survey, acting under the direction of the secretary of the interior.
It is said that the territory coal fields will eventually yield 1,760,000,000 tons of coal. A considerable part of the lands is already being profitably worked on thirty-year leases, the lessees paying eight cents a ton, "mine run," for coal taken out.
A period of two years is allowed the commission in which to dispose of the lands. It is said at the interior department that the protracted period of the sale and the selling of small sections will give small investors a share of those valuable lands and will, moreover, serve to prevent the entire area being gobbled up by a few great syndicates at a price agreed upon among themselves.
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Where did it happen?
Domestic News Details
Primary Location
Indian Territory
Event Date
Sept. 17
Outcome
lands to be auctioned in small sections over two years to allow small investors participation and prevent monopolization by syndicates; some lands already leased at eight cents a ton for thirty years.
Event Details
Four hundred and forty thousand acres of high-grade bituminous coal lands belonging to the Choctaw and Chickasaw Indians in Indian Territory will be auctioned by the federal government within the next two years. The lands have been segregated by geological survey experts under the direction of the secretary of the interior per an act of congress. The coal fields are estimated to yield 1,760,000,000 tons of coal.