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MOUND COMPANY v. TEXAS COMPANY

No. 18910.

298 F.2d 905 (1962)

MOUND COMPANY, Appellant, v. The TEXAS COMPANY, Appellee.

United States Court of Appeals Fifth Circuit.

Rehearing Denied March 27, 1962.

Attorney(s) appearing for the Case

Leroy Jeffers, Lester Settegast, I. M. Wilford, Ross N. Sterling, Houston, Tex., Vinson, Elkins, Weems & Searls, Houston, Tex., of counsel, for appellant.

M. W. Parse, Jr., Leon Jaworski, William S. Clarke, Houston, Tex., Fulbright, Crooker, Freeman, Bates & Jaworski, Houston, Tex., of counsel, for appellee.

Before TUTTLE, Chief Judge, and HUTCHESON and RIVES, Circuit Judges.

TUTTLE, Chief Judge.

This is an action seeking to cause the termination of an oil and gas lease on 3,000 acres of Texas land. The lease was executed in 1915 and covered oil, gas and sulphur. The lease was amended in 1921 so as to provide for payment to Mound of "advance sulphur royalties" which escalated to $15,000 per month from and after July 1, 1924. The lessee, Texaco, Inc., in 1922 entered into a contract with Freeport Sulphur Company under which the latter would...

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