Sale of public land.—Any citizen of lawful age of the Philippine Islands or of the United States, and any corporation or association of which at least 61 per centum of the capital stock or of any interest in said capital stock belongs wholly to citizens of the Philippine Islands or of the United States may purchase any tract of public agricultural land of not to exceed 247 acres in the case of an individual and 2,530 acres in that of a corporation or association. Citizens of countries the laws of which grant to citizens of the Philippine Islands the same right to acquire public land as to their own citizens, may, while such laws are in force, but not thereafter, with the express authorization of the Legislature, purchase any parcel of agricultural land, not in excess of 247 acres.
Lands sold in this way must first be appraised by the Director of Lands with the approval of the Secretary of Agriculture and Natural Resources and then sold at public auction. An individual may purchase as much as 247 acres of land and a corporation 2,530 acres and, in addition, lease 2,530 acres.
Lease of public lands.—Another manner of occupying public land is by leasing it. The same conditions required for citizenship of individuals and corporations for the purchase of public lands are laid down regarding leasing public lands, the only exception being that an individual may lease as much as 2,530 acres whereas under the law he may purchase only 247 acres.
The annual rental of lease must be at least equal to three per cent of the appraised valuation of the land, which is subject to reappraisal every 10 years from the date of the approval of the contract. Lease contracts run for 25 years but may be renewed for another period of not to exceed 25 years. In case the lessee shall have made important improvements which, in the discretion of the Secretary of Agriculture and Natural Resources, justify a renewal of the lease, a further renewal for an additional period not to exceed 25 years may be granted.
Friar lands.—The Philippine Government has another kind of land holdings commonly called “Friar Lands.” These were formerly estates belonging to the religious corporation which were acquired by the Government for $7,239,784.16.
Any person of legal age may purchase not to exceed 39 acres of the “Friar Lands” estate. A corporation duly registered in the Philippine Islands may purchase as much as 2,530 acres.
Payment for the land may be made in full at the time of the purchase or in annual installments. If purchased on the installment plan the purchaser is allowed 12 years in which to pay the purchase price, beginning January first of the year following the purchase, plus interest of four per cent per annum on the unpaid balance.
After the purchaser has paid for the land applied for by him in full a deed is issued in his favor.
PERCENTAGE OF THE VALUE OF PRODUCTION OF ALL MANUFACTURING ESTABLISHMENTS DURING THE YEAR 1918