162 ON DIFFERENT MODES OF DISFOS1NG OF 



bably knows not how to dispose of the produce he is buying. He may 

 have a good market for pit-props, or railway sleepers, and no demand 

 for hard-wood ; or he may be able to dispose freely of all sorts of 

 hard-woods, and yet have no market for railway sleepers or pit- 

 props. It matters not whether the produce is hard-wood, fir, pit- 

 props, rake-ware, or hop-poles, if the purchaser has not a ready 

 market he will either decline to buy, or will do so at a price which 

 will allow a large margin for contingencies. This is one of the 

 greatest obstacles in disposing of timber by private sale. But 

 another objection often urged against private sales is the difficulty 

 of inducing purchasers to give full value for any of the lots. This 

 is owing to the want of competition, and may be provided against, 

 in a great measure, by offering the timber to several purchasers, and 

 accepting the highest offer. That this, however, has not always the 

 desired effect is evident from the following facts : — I once had a 

 quantity of mixed hard-wood for sale, which I arranged in con- 

 venient lots, and offered to Mr B. at a price varying according to the 

 quality and description of the timber. He would not purchase 

 unless I reduced the upset price twenty per cent. This I would not 

 consent to do, so the matter ended without effecting a sale. A few 

 clays afterwards I offered it to Mr C, but this time the reduction 

 claimed had increased to thirty per cent. I afterwards advertised 

 the lot to be sold by auction, and realised five per cent, more than 

 the price originally fixed. It subsequently transpired that Mr B. 

 had arranged with Mr C. to offer lass than he had done, on the 

 understanding that they should share alike in the purchase. These 

 facts show the necessity for discretion in treating with timber 

 merchants, but must not be understood to imply that the system of 

 taking offers from several purchasers serves no good purpose. "When 

 a forester has a quantity of mixed timber to sell, he will often 

 realise more money by receiving offers, than by confining himself to 

 one purchaser. 



Sales by Tender. — It may seem at first sight that the same object 

 is gained by offering the timber to several purchasers, as by receiv- 

 ing tenders. In practice, however, the two systems differ materially. 

 Sales by tender are generally conducted in the following manner: — 

 The vendor sends circulars containing particulars of the number of 

 trees to be sold, accompanied by the conditions of sale, to as wide a 

 circle of tinibei merchants as possible. The circular requests them 

 to .-end in their offers by a certain date, and to tender for the whole, 

 whether it consists of one class of timber, or a mixed lot of various 



