Bellingham Securities Syndicate, Inc. v. Bellingham Coal Mines, Inc.

This action was instituted to recover royalties alleged to be due as of September 30, 1940, under a contract denominated “Coal Lease,” executed in 1918 by plaintiff’s predecessor in interest as lessor and defendant’s predecessors in interest as lessees. Under the terms of the lease, which is for a period of fifty years from August 27, 1918, the lessee was obligated to install all necessary machinery and equipment and to do all development work for extraction of the coal. The lessor was to receive twelve and one-half cents a ton for all coal mined, plus an additional royalty equal to…