Periodical Literature. 341 



price increments progress in straight lines, they are not anywhere 

 near parallel to the diameter increase. For the smaller sizes this 

 parallelism holds good, but, after 10 inches is reached, the line 

 curves, i. e., proportionality of price and size vanishes, and beyond 

 the diameter of 14 inches, the price per cubic foot does not change 

 any more. It is interesting to note that the price lines of the two 

 years 1904 and 1907, two years of entirely different market condi- 

 tions, while absolutely different in value, run entirely parallel. 



The author then goes into a discussion of how to shape the offi- 

 cial sale rates for logs, which has no direct interest for us. The 

 author calls attention to the fact that such relations as the fore- 

 going can only be local and temporary. 



Ueber Wertsuwachs. Allgemeine Forst-u. Jagdzeitung, May, 1909. 

 pp. 153-158. 



While on this continent, and especially in 



Loans Canada it is customary for banks to make 



on loans on forest properties on the basis of 



Forest Properties, the estimated actual timber or "wrecking" 



value, in Prussia the county credit banks — 

 cooperative banks of the estate holders or farmers (Landschafts- 

 bank) — determine the credit value of forests on the basis of the 

 yield under sustained yield management and of a controllable 

 working plan. In consequence of this principle, a forest which 

 does not admit a felling budget for the first period of the rotation 

 is not loanable. In these provincial or county credit banks the 

 value of all the farms in the county or province have been assessed, 

 so that every member knows to what extent he can loan on it. 



The forest assessment is variously made by different banks, but 

 always by experts if at least 25O' acres are involved. The rota- 

 tions for coppice vary from 10 to 20 years ; for timber forest 

 usually 60 years, and in some parts up to 120 years. The princi- 

 ples of the working plan are definitely laid down, varying from 

 province to province. The stocktaking is usually confined to the 

 stands allotted to the first period. It is significant to note that 

 selection forest practice makes the forest unloanable. The net 

 yield is determined upon the average price for the last six years 

 in the forest itself or in neighboring properties, diminished by 10% 

 in conifers, 5% in broadleaf forest, to discount calamities, by 20 to 

 60 cents per acre for cost of management, by $2 to $10 per acre 



