By the terms of this bill the New York and Montana Iron Mining and
Manufacturing Company are authorized, at any time within one year after
the date of approval, to _preempt_ two tracts of land in the Territory
of Montana, not exceeding in the aggregate twenty sections, and not
included in any Indian reservation or in any Government reservation for
military or other purposes. Three of these sections may be selected from
lands containing _iron ore and coal_, and the remainder from _timber_
lands lying near thereto. These selections are to be made under
regulations from the Secretary of the Interior and be subject to his
approval. The company, on the selection of the lands, may acquire
immediate possession by permanently marking their boundaries and
publishing description thereof in any two newspapers of general
circulation in the Territory of Montana. Patents are to be issued on
the performance, within two years, of the following conditions:

First. The lands to be surveyed at the expense of the company, and each
tract to be "as nearly in a square form as may be practicable."

Second. The company to furnish evidence satisfactory to the Secretary of
the Interior that they have erected and have in operation in one or more
places on said lands iron works capable of manufacturing at least 1,500
tons of iron per annum.

Third. The company to have paid for said lands the minimum price of
$1.25 per acre.

It is also provided that the "patents shall convey no title to any
mineral lands except iron and coal, or to any lands held by right of
possession, or by any other title, _except Indian title_, valid at
the time of the selection of the said lands." The company are to have