122 



AMERICAN FORESTRY 



COSTS AND PROFITS. 



In casting up accounts of the woodlot, 

 it is seen that many factors, other than 

 mere cash profits from the products 

 derived, must be considered. At the 

 same time, it is well to know just what 

 financial return can be expected. 



Unfortunately on this point there is 

 lack of accurate data for the whole na- 

 tion. The following examples will il- 

 lustrate the possibilites : 



In Western New York, a woodlot 

 was heavily culled of most of its mer- 

 chantable material in the past two 

 years. There was left, however, about 

 202 valuable trees per acre on this por- 

 tion, besides 146 trees which would 

 best be removed to improve the stand. 

 Most of the valuable species were hick- 

 ory, white oak, red oak and white pine. 

 At the rate of growth, as determined by 

 measurements, and at average present 

 market prices, in twenty years from now 

 there would be value produced sufficient 

 to earn the equivalent of a net annual 

 income of $3.27 per acre at 5 per cent, 

 compound interest; figured for forty 

 years ahead, the net return would be 

 $3.31 per acre per year, because of the 

 more valuable material produced from 

 larger trees. 



This is disregarding the fact that at 

 the end of these periods, timber prices 

 are sure to be much higher than now, 

 and also the fact that this stand is not 

 fully stocked with valuable species. 



An interesting and typical condition 

 also presented here, in the possibilities 

 of improvement of the stand, is that if 

 the owner were to cut the 146 trees 

 which ought to be removed, together 

 with some ■ ood material on the ground, 

 he would secure about 3}/2 cords of 

 wood, worth much more than the cost 

 of planting a sufficient number of desir- 

 able trees, so as to secure a full stand of 

 valuable species, and thus greatly in- 

 crease the net profit per acre. 



As another example, a farmer, realiz- 

 ing the value of his woodlot, has con- 

 tinuously improved it for the past 

 twelve years, and today it is one of the 

 most valuable parts of the farm. It 

 has supplied fuel, fence posts, lumber 

 for farm buildings and for repairs, and 

 some has been sold. The work con- 



nected with its management was done 

 in the winter and at odd times. The 

 improved woods are now worth over 

 $150 yer acre. . 



These examples are based on lumber 

 sold under present market prices of 

 stumpage or round logs. To the farm 

 and country estate, the chief value of 

 the woodlot is to supply lumber, posts 

 and fuel, at least in times of ermergency. 

 The purchase price of these materials is 

 generally very much greater than is re- 

 ceived for material sold; and used as a 

 source of home supply, the woodlot 

 would yield much greater financial 

 profit than indicated above. 



Again, it is worth while remembering 

 that the direct value of products derived 

 is but one of many benefits derived from 

 the woodlot; and it is especially urged, 

 in view of the common misconception 

 of the subject, that the income from 

 better management is not something 

 which will be enjoyed only by our great 

 grandchildren, who, as one wag said, 

 "Never did anything for us;" but is 

 constant, with financial returns com- 

 parable at least to those from a high- 

 class bond investment. 



WOODLOT HISTORY. 



In the development of the woodlot, 

 we must turn back and consider the con- 

 ditions under which they developed. 

 When the first settlers came here, hey 

 found an almost unbroken wilderness. 

 The forest had to be destroyed to clear 

 land for agriculture. It had no value 

 — in fact, it was considered an impedi- 

 ment. With that attitude, there was 

 no effort made either to protect the 

 forest from fire or other damage. Sim- 

 ilarly, in the use of wood — at first only 

 the very best trees of the best species 

 would be taken for any purpose. With 

 the gradual culling of the woods, we 

 have today woodlots consisting mostly 

 of culls or inferior stock. Most of the 

 hardwoods are either the third or fourth 

 set of sprouts from the same stump, and 

 thus of very low vitality, or are seed- 

 lings of poorer species; the evergreens 

 are, of course, of seedling stock, but the 

 proportion of these is very much low- 

 ered, and these generally also are of 

 weakened vitality. In addition, prac- 



