THE ANNUAL EXCURSION. 8 1 



return per acre. For the whole of this young wood the figures 

 are as follows : — 



Cost of plants and planting 7 acres, 



at ^4, 17s. per acre, . ^33 19 o 



Fencing 300 yards, 6 wires, at 



rod. per yard, . . . . 12 10 o 



Compound interest on above, at 



3 per cent., . . . 38 13 4 



^85 2 4 



Credit by suppressed and dead 

 trees taken out in 1908 and 

 made into fencing and net 

 stakes, . . . . . ^28 11 o 



Labour on above — cutting, carry- 

 ing out, and making into stakes, 7 18 6 



Net Credit, . £^20 12 6 



Leaving a Debit balance of. . . . ^64 9 to 



To which add value of land before 



planting, for grazing purposes, 



at^i, I OS. per acre per annum, 



for 21 years, .... ^220 10 o 

 Compound interest on above, at 



3 per cent., . . . . 90 6 o 



Total cost, 



Value of trees at present standing, 900 per acre, 

 at IS. 6d. each, ..... 



Net profit on afforestation for 21 years, ^97, 4s. 2d.; 

 ^13, 17s. gd. nearly per acre. 



The above plantation was formed in December 1889 on a 

 piece of ground, about 7 acres in extent, which was taken from 

 one of the adjoining pasture fields, and planted with a mixture 

 of larch and Scots fir, with a sprinkling of Douglas fir and hard- 

 woods. It is now almost entirely pure larch, only the few 

 Douglas fir having been able to keep pace with the larch, while 

 the other trees have nearly all been suppressed. If the figures I 

 have given above are of any value whatever, they certainly .show 



VOL. XXVL PART \. F 



