WOODS OF THE NOVAR ESTATE. 59 



(3) For the fifteen years ending loith 1924. 

 Aunual nett profit on timber, as above, . . £1522 



Deduct, — 



Maintenance charges, as above, . . 330 



Annual nett revenue, . . £1192 



It is impossible to make any useful estimate of the amount of 

 the annual nett revenue for the period of thirty-six years which 

 must elapse between the year (1924) in which the last of the older 

 woods will be felled, and that (1960) in which the oldest of the 

 younger woods will attain the age of eighty years. If the thin- 

 nings from woods of the latter class yield sufficient to pay the ex 

 penses of management, that is, perhaps, as much as can be expected. 



In regard to the younger woods and new plantations, which 

 will come into full yield about the year 1960, it may be confidently 

 anticipated that timber of the high quality they will yield must 

 secure a good return, according to the scale of prices that may 

 then prevail ; and that in consequence of the inevitable falling 

 off of our importations from abroad, prices will without doubt be 

 higher than they are now. But assuming that they are merely 

 maintained at present rates, a rough estimate of the financial 

 results of working the woods on the estate, from and after the 

 year 1960, might be made somewhat as follows, on the assumption 

 that the annual felling-area will be 50 acres : — 



Final yield per acre, 5000 cubic feet at 7d. 



= £145, which x 50 . • . . = £7,250 



Thinnings from the whole area, equivalent to 



1900 cubic feet per acre on 50 acres, at 7d., = 2,750 



Gross annual receipts, . . = £10,000 



Deduct Expenses, — 



Draining, planting, fencing 



50 acres at £4, . . - £200 



Tending and management of 



whole area (4000 acres) at 



3s. per acre, . . = 600 800 



Annual nett revenue, . £9,200 



