70 NEW YORK STATE MUSEUM 
have accumulated timber capital. Again, Saxony’s method has 
created their highest present values and they have the highest present 
returns on their invested capital (which is relatively small). In 
Saxony, neither the demand nor the price of large logs has increased. 
The rise has been greatest for the small material and hence Saxony 
has reaped and continues to reap today the highest returns, while 
the Black Forest has the highest value in forest capital with the 
smallest returns. 
The larger logs are sawn into lumber at the mills, in or near the 
forest, while most of the other forest products, such as poles, mine 
props, railroad ties, Christmas trees and pulp wood are assembled at 
a railroad station for shipment to centers of consumption of such 
products. (Plate 16) 
10 GRAMSCHATZ FOREST, BAVARIA 
The Gramschatz district is situated in a great bend of the Main 
river in northern Bavaria, 15 kilometers north of Wurzburg. There 
is a fine automobile road through the forest, over which during the 
summer there are run for the benefit of visitors automobile buses to 
a little inn known as the “ Einseidel” in the heart of the woods. 
The Gramschatz district is administered by Forstmeister Gleich, 
who has his headquarters at Thungen, to the west of the forest. 
The forest comprises two districts of about 5000 acres each. The 
eastern district, containing the best timber, is in charge of Assessor 
Friedrich. 
The underlying rock is fresh limestone and cupar limestone, the 
disintegration of which results in a deep and fertile soil. In 
some of the quarries from which stone for the roads is taken are 
found large petrified shells, some of which have a diameter of 10 
inches, while petrified mollusks and fishes are common in the rock 
of this section. The rich soil is responsible for the prosperous agri- 
cultural communities here. The 400 inhabitants of the village of 
Gramschatz are said to be very wealthy. The village, however, 
owns no timber land as do most other German villages, but is 
forced to obtain its supplies from the state forests. This may 
explain the high price of fuel wood, for which is being paid as high 
as $15 a cord in the woods. 
In 1806 the Gramschatz forest was owned by the archbishop of 
Wiirzburg, who used it as a hunting park. Old ponds made for 
the deer to bathe in and ditches used for the drives are still to be 
seen here and there in the woods. The forest was formerly managed 
