TIMBER AS A FACTOR IN THE PRICE OF COAL. I09 



Similar errors are easily made by comparing the price per 

 100 lineal feet of long pit-wood and short props. The number 

 ot lineal feet per cubic foot naturally varies widely in these two 

 cases, and, consequently, the only accurate and fair basis of 

 comparison is one made per cubic foot. 



It was stated on behalf of the colliery owners, at a meeting 

 held in Edinburgh on March 191 6, that on an average of all 

 collieries, and taking an average seam, seven lineal feet of pit- 

 wood are required per ton of coal raised. If the average size 

 of prop is taken at 3 1 inches, each ton of coal raised represents 

 about half a cubic foot of timber in props. The cost per cubic 

 foot of props for all sizes delivered at the collieries has probably 

 been about 2s. during the last two years, as compared with, say, 

 iod. immediately previous to the war. The increase in the cost 

 per ton of coal raised would, on this basis, be the difference 

 between 5d. and is., namely, yd. 



Taking the standing timber, however, the actual amount of 

 increased price which can be said to have been received by the 

 landowner is somewhat less. It is doubtful whether, except in 

 special cases and for small lots, more than ud. per cubic foot 

 was received for standing pit-wood, and iod. would probably be 

 a fairer average, as compared with, say, 4d. or 5d. before the 

 war. The increase in either case is 6d. per cubic foot, or 3d. 

 per ton of coal raised. 



The statement by the Board of Trade, Timber Supply Depart- 

 ment (Scotland), which accompanies this article, shows that the 

 average value per cubic foot of the whole standing pit-wood 

 purchased by the Department in Scotland was equal to 778d., 

 and that the prices per cubic foot of the five areas of pure pit-wood 

 included in these purchases ranged from 5"33d. to is. i-67d. (for 

 larch), the average being 9-8gd. 



It must be remembered also that, while the rate of income 

 tax on all income has been greatly increased during the war, 

 the basis of assessment in the case of woodland has been 

 trebled. 



The rise in the price of standing pit-wood has certainly made 

 a product which was almost unsaleable into a saleable article, 

 but it is doubtful whether any instance can be quoted where, 

 after reckoning all costs and compound interest at 5 per cent., 

 any profit has been earned beyond the assessed rent on the 

 woodlands. 



VOL. XXXIII. part 11. 1 



