40 TRANSACTIONS OF ROYAL SCOTTISH ARBORICULTURAL SOCIETY. 



1897, and has been the means of effecting important savings, both 

 in the carriage of sawn timber and in the haulage of logs on the 

 felling-areas. In 1898 a Universal Wood Worker and a band-saw 

 were purchased. 



There can be no doubt that during the period of depression 

 above referred to, when timber in the log was almost unsaleable, 

 the system of manufacturing it for the market proved highly 

 successful. Mr Meiklejohn estimates that during 1897 and 

 1898 the profits on manufactured produce were, on an average, 

 nearly 86 per cent, higher than they would have been had the 

 timber been otherwise sold. 



The following statement, furnished by the Estate Office, shows 

 the average annual income and expenditure in connection with 

 the woods of the estate during the past five years : — 



Timber Works. — Realised by the sale of 93,537 cubic feet 



(average annual gross revenue), . . . £8368 



Deduct for Outlay on the above, and on 13,751 cubic 

 feet used on the Estate, — 

 Felling and logging, .... £203 

 Manufacture, transport and share of manage- 

 ment charges, .... 4820 

 Creosoting, . . . . .139 

 Cost of plant, ..... 400 



5562 



Average annual nett profit on timber works, 

 Deduct Expenditure on Maintenance of Woods, — 

 Loss of grazing rents, 

 Rates and taxes, 

 Draining, 

 Roads and fences, 

 Fire insurance, . 

 Nursery expenses, . . . £173 



Less plants sold, . . . 160 



Restocking ground, including forester's 



salary, ..... 



Average annual nett revenue, 



£2806 



£110 



8 



33 



59 



n 



13 

 545 



782 



£2024 



From the above figures it may be gathered that the gross 

 revenue on timber sold during the past five years has been at 



