546 Forestry Quarterly. 



In the valuation of a normal management 



Forest class a different value should be given the 



Valuation. material cut from that assigned to the stock 



because the latter is made up in part of 



immature age classes which are generally less valuable. The yield 



from thinnings, how^ever, will always be less valuable than the 



growing stock, and thereby the value of the total fellings will not 



differ very much. 



These statements are used to prove the contention of Eberbach, 

 that as a rule the money rate of interest is smaller than the in- 

 crement rate. 



Ueber die Beziehungen zwischen der Massen und der Geldverzinsung in 

 Hochwaldbetriebsklassen. Forstwiss. Centralblatt. Feb., 1912. Pp. yj- 

 80. 



That the careful removal of Christmas trees 



Value is a financial advantage and if properly 



of done, is no harm appears from the re- 



Christmas Trees. ceipts of a certain forest district in Austria 



from Christmas trees which ran as follows : 



1903 $828 31 



1906 6165 56 



1910 5080 96 



The small trees used for this purpose were taken out without 

 harming the future stand. 



Erlds aus Weihnachtsbdumen. Forstwiss. Centralblatt. Feb., 19 12. 

 Pp. no. 



Results 

 from As an encouragement for commercial forest 



Small management the results attained in the 



Communal small canton of Aargau, which may be com- 



Property. pared to any of our counties, noting the 



changes within 50 years is of interest. 

 In spite of the fact that the cut was reduced by 8% in order 

 to save previous overcuts, and in spite of an increase of expendi- 

 tures by 98%, the net income per acre has increased by 9.1%, and 

 per cubic foot of wood by 18%, the total net income being $45,- 

 600. The greater income is only in part accounted by increase in 

 wood prices by 36%, improved forest conditions account for most 

 of it; while in 1861 only 53% was high forest and 47% coppice. 



