Periodical Literature 107 



the cost values of the lowest age-classes in comparison with the 



stand expectancy values too high. 



Wertherechnung der von der Stadt Bad-Orb an den Militdrfiskus zur Anlegung 

 eines Truppentibungsplatzes abzutretenden Waldfldche. AUgemeine Forst- und 

 Jagd-Zeitung, May, 1914, pp. 160-166. 



In connection with the consolidation of 

 Forest several small private forest properties into 



Values in a corporation — 70 owners, holding 110 



Switzerland parcels, agreeing to such consolidation of a 



territory not larger than 160 acres — a valua- 

 tion of the property was made. The forest area consisted of 57 

 per cent, spruce, 20 per cent, fir, 5 per cent, pine and larch, 18 

 per cent, broadleaf trees, the whole in rather poor condition. The 

 age-classes were represented by : 



1 to 20 years 21 to 40 years 41 to 60 years over 60 years 



25 per cent. 41 per cent. 20 per cent. 14 per cent. 

 The timberwood stock was found to be 6,220 cubic feet per acre 

 and the increment 93 cubic feet, which by a proper thinning 

 practice could be greatly improved. The soil values varied from 

 $56 to $80, average $66, while the open farmland was appraised 

 at $130. 



The stands up to forty-five year age were calculated at their 

 cost value, assuming $32 as cost of planting and cultivation, an 

 interest rate of 3 to 3.5 per cent, according to stock density, and 

 deducting for imperfect stands. The sixty to sixty-five year stands 

 were appraised by sale or stock value as they became saleable at 

 that age; for the forty-five to sixty year stands also, sale value 

 was used with additions up to 10 per cent. 



In this way the value per acre came to $357, of which a little 



less than 20 per cent, was for soil. This valuation was, however, 



admitted by the experts themselves to be rather high. 



Privatwald-Zusammenlegung Meilen. Schweizerische Zeitschrift fur Forst- 

 und Jagdwesen, November, 1914, pp. 294-298. 



The appearance of Chapman's "Forest 



Foundations Valuation" will undoubtedly stimulate 



of Forest interest in this branch of forest finance. 



Valutaion Our American literature on this subject has 



been surprisingly meager. Not so the 



European, as a glance through the Periodical Literature reviews 



of the Forestry Quarterly will show. 



