172 TRANSACTIONS OF ROYAL SCOTTISH ARBORICULTURAL SOCIETY. 
Class IIT. in the pine forests of North Germany, we are able to 
take Schwappach’s yield tables as the basis of our valuation. 
According to these tables, the value of one acre of Scots pine, of 
the age and on the locality above named, is £35, which is probably 
quite up to the average value of either pure Scots pine woods or 
a mixture of Scots pine and larch at that age in Scotland. At 
this rate 250 acres would represent a value of £8750, or in round 
numbers, and allowing for cost of transfer, etc., £10,000. 
It is evident that this estimate can only be regarded as an 
approximate one, as the probability of finding an area stocked 
exactly as is here assumed is but remote. 
The outlay on the area, after purchase, would be occasioned 
by the erection of the buildings, etc., already referred to, 
fencing, formation of nursery, etc. The buildings, if erected as 
suggested, would probably involve an outlay of £750 or there- 
abouts, according to situation, nature of ground, etc. 
The cost of fencing would depend upon those already existing 
and their condition, but we may reasonably allow for about two 
miles, which, at 1s. per yard, or £90 per mile, would amount in 
round numbers to £200, which ought also to provide for gates. 
toads, bridges, etc., beyond those already existing, would prob- 
ably be unnecessary for the first few years. 
The laying out of the nursery would involve trenching, levelling, 
making of walks, and fencing, and would require an initial out- 
lay of at least £50. 
The annual working expenses for the first ten years would be 
chiefly incurred in supervision, planting, and rates and taxes, the 
cost of felling and thinning being d-ducted from the sales of 
timber and poles. The cost of supervision would be practically 
included in the forester’s salary, and out-of-pocket expenses of 
the board of management. A competent forester could not be 
obtained under £100 per annum, with house, fuel, etc., and this 
would hardly be sufficient to secure a man versed in the higher 
branches of practical forestry. A total expenditure of £150 per 
annum ought, however, to cover all costs of supervision likely to 
be incurred during the first ten years, or until the area has been 
placed in proper working order. 
For planting, say, 50 acres annually, we should allow at the 
average rate of £2 per acre, which would include both planting 
bare ground and under-planting thinly stocked parts of the 
wooded portion. The cost for the first year or two would 
