Allen v. Smylie

PRATHER, District Judge.

This case concerns the validity of certain phosphate mineral leases of school lands granted by the State of Idaho to respondent Monsanto Company in 1958 for a term ' of ‘ ten ' years. Leases for ÍI. e year terms were originally issued to Monsanto in 1948, under I.C. § 47-704, which then read, so far as pertinent, as follows:

“All mineral leases of state school land shall be for a period of five years, upon condition that at the end of each five-year period succeeding the first day of the year in which the lease is issued the leaseholder shall be given a preferential…