Periodical Literature. 475 



Hans Honlinger, who has written a 



Nezi' Ideas book on "Practical Forest Valuation" 



on (Praktische Waldwertrechnung) briefly 



Forest answers his critic by showing that the dif- 



Valuation. ference between the soil rent theory and his 



own consists in that the former charges the 



expenditures entirely against the soil and none against the stock, 



which is the reason that negative soil values may be figured out, 



although the forest rent is positive. Honlinger distributes the 



expenditures in the same ratio as the incomes against soil and 



stock. 



Briefly the difference in the formula would be : 



Y^— ra . ry 



Soil rent: i. Forest value= ; 2. Soil value= 



.op i.op'^ — I 



— rA ; Stock value= Y'" — . In formula 2 and ? the for- 



i.op'" — I 



est income (from formula i) appears distributed on stock and 



soil, but the forest expenditures charged entirely to soil ; while in 



formula 3 no expenditures are charged. Honlinger's formulae 



Yr— ra r (Y^— ra) Y""— ra r(Y'-— ra) 



read: F= ; S= — — ; Str= — ;^ — — 



.op i.op' — I .op i.op"^ — I 



Centralblatt f. d. g. Forstwesen. Dec, 1913, p. 564. 



Kirchgessner points out that while in- 

 Facts crement should be the basis of utilization, 



and it is not easy to determine it, subjective 



Bstimates elements affording much variation. Esti- 



in mates move on a middle line; the better 



Increment. sites being underestimated the poorer far- 



ing better. He then proceeds to compare 

 the actual yields during the last 70 years of management of ten 

 communal forests of medium quality in Baden, some 2000 acres, 

 with the latest estimates of increment. 



The comparison is most flattering to the estimator, for while 

 the ten positions figured on actual returns show on the average 

 an increment of 58 cu ft. p. acre (varying from 49 to 71), the 

 estimate averages 55 (varying from 50 to 64) cubic feet per acre. 



