Leases of Small Areas.

Areas not exceeding 50 acres may be set apart for lease, with perpetual right of renewal. The land is offered at a fair fixed rent for the first period of thirty years, and if two or more persons should apply for the same piece of land the tenancy is decided by lot. In renewals of leases or transfers, full values for improvements are page 82 allowed. The perpetual-lease system gives the tenant fair rent, fixity of tenure, and free sale of his interest in the lease and improvements.