FOREST TERMINOLOGY 99 



Used volume. The volume of that portion of the tree usable in commercial opera- 

 tions. 

 Utilization value. See Value. 



Valuation survey. The survey of an average area (valuation area) selected for 

 detailed measurement and valuation. Often objectionably used for mensuration 

 areas when no valuation is involved but only material is measured. 

 Value. The following values may be differentiated : 



Investment value. The purchase price or the actual expenditures or investments 

 that have been made in acquiring or creating the property with interest, less 

 incomes actually derived from it, with interest. 

 G., Anlagekapitalwert. 



Cost value. An investment value based on production. This may be dif- 

 ferentiated into Subjective cost value if based on actual expenditures, and Objective 

 cost value if based on estimated cost of replacement of the property (as in damage 

 suits) . 



G., Kostenwert. 



Sale or Exchange value. The market price based on statistics of actual sales; 

 a special kind of sale value is the forced sale or wrecking value that can be obtained 

 by exploitation of saleable parts {see Stumpage value.) 

 G., Verkaufswert. F., valeur venale. 



Stock or Stumpage value. Based on sale value of material ready for immediate 

 utilization. 



Syn.: utilization value. 

 G., Nutzungswert. 



Expectancy value. The present worth of all estimated or expected future net 

 earnings (discounted value) ; the capitalized net income value. 

 G., Erwartungswert. F., valeur d'attente. 



Rent or Yield value. A value, determinded by capitalizing, with a demanded 

 rate of interest, the yearly or intermittent net return possible to be derived from 

 a managed property. See Forest rent and Soil rent. 

 G., Bodenrentierungswert; Waldrentierungswert. 

 Value increment. See Increment. 

 Veteran. See Tree class. 



Virgin forest. AppHes to mature or overmature forest grown entirely uninfluenced 

 by human activity. 

 Syn.: old growth. 

 G., Urwald. F., foret vierge. 

 Volume table. A tabular statement showing, for a given species, the average 

 contents of trees of different sizes. The usual volume table is based on diameter 

 and height. Volume tables may be made for any desired unit of volume. 

 Volunteer growth. See Advance growth. 



Water sprout. An epicormic branch arising from a dormant or adventitious bud. 

 Weed tree. A tree of a species which has little or no value. 

 Weeding. See Intermediate cuttings, cleanings. 



Windbreak. Any object which serves as an obstacle to surface winds; in forestry 

 trees serve such a purpose. Tree windbreaks are classified according to their 

 general arrangement. 



1. Rows and hedge rows; 2. belts or shelterbelts of three or more rows; 3. 



