G12 JOURNAL OF FORESTRY 



acres would be required to supply the raw material for a year. There- 

 for, 25,000 acres must be planted if a series is to be established that 

 will supply the mill indefinitely. 



"This would entail the cutting of 500 acres and the planting of 500 

 acres after the first cut. In the start, it would be advisable to plant 

 the tract in the first 25 years, if it were all purchased at one time. 



"It would probably be impossible to purchase 500 acres each year 

 contiguous to the land previously purchased, so it would be necessary 

 to purchase all or a greater part of the 25,000 acres at the start. This 

 is a little over a township, and when bought in such a large quantity 

 should not cost over $5 per acre at the present time, deducting the 

 value of the timber and young growth generally found on such land. 



"The cost of raising a cord of pulpwood on a 55-year rotation, figur- 

 ing 50 cords to the acre at the end of 50 years, would be $2.25 per 

 cord, allowing $5 per acre for the cost of the land and $7.50 per acre 

 for the cost of planting, compounding the cost of land and planting at 

 4 per cent annually for 50 years. This presupposes that all the 25,000 

 acres were bought at one time and planted during the first 25 years. 



"Taxes and administration computed at 10 cents per acre per annum 

 compounded at 4 per cent would amount to 31 cents per cord, based on 

 a yield of 50 cords to the acre at 50 years. 



"Taxes, of course, vary greatly in dififerent regions, but the same 

 ratio would hold true. For instance, with an annual tax of 20 cents 

 per acre per year, under the same conditions, the cost of taxes would 

 be 62 cents per cord. 



"It is estimated that thinnings on this 50-year rotation would amount 

 to eight or ten cords per acre without decreasing the final yield. These 

 thinnings would to a considerable extent offset the cost of protection 

 and taxes." 



A. B. R. 



Spruce in Minnesota. The Paper Mill, March 9, 1918, Vol. XLT, No. 10, pp. 

 16-18. 



Upon the basis of the Oxford Survey of the 



Nezv Zealand British Empire and various commission reports, 



Forests Sir William Schlich describes conditions and crit- 



and ically reviews proposed forest policies of this 



Forestry British colony. 



The colony consists of two large islands. North 

 and South Island, over 102,000 square miles, besides a number of 

 smaller islands, the two main islands extending through a thousand 



