Saunders v. Hornsby

STOKES, Justice.

The record in this case shows that appellant, J. M. Saunders, has been the owner of Section 40, Block 3, I. & G. N. Ry. Co. Surveys in Gray County since about 1915. In January 1922 he executed an oil and gas lease on the Northwest Quarter of the Southwest Quarter, being forty acres, to Gulf Production Company, retaining the usual 1/8 of the production as a royalty. In June 1924 he sold and conveyed 1/2 of his royalty interest to C. J. Olmstead and appellee, Roy Hornsby. Thereafter Olmstead and appellee sold 1/2 of their interest to Harlan Bros. By the lease and these…