THE PRODUCE OF WOODS AND PLANTATIONS. 165 



had many advantages over auction sales; but, in practice, I have 

 invariably found the reverse to be the case. Let us suppose that 

 A. B. and C. attend an auction. They have each contracts on hand 

 for which the timber advertised for sale is admirably adapted. Pre- 

 vious to the day of sale, they go round the lots, and measure and 

 value them very carefully. We will further suppose that lot 3 

 consists of thirty fine large oaks, which A. and B. respectively re- 

 cpaire for a special purpose. When the lot is put in, these gentle- 

 men refer to their sale-books, and find it valued at L.80. The 

 " bidding" is general until it reaches L.75, after which it is continued 

 exclusively by A. and B. Eventually the hammer falls to B.'s " bid- 

 ding" at L.15 over his valuation, and A. remarks, "You have paid 

 very dear for that lot, sir." The next lot again goes beyond its value, 

 and this time B. continues the " bidding," to retaliate on A. for 

 making him pay so dear for the previous lot. In this manner 

 several lots are disposed of, which C. required to complete a contract 

 in hand, and he is now prepared to exceed his own valuation, rather 

 than lose any of the remaining lots which are suited for his purpose. 

 In this way the competition becomes lively, and a purchaser, disap- 

 pointed in several of the first lots, usually makes an effort to secure 

 some of the remaining lots. This is no imaginary picture, but what 

 often occurs at sales, and it is this competition and rivalry amongst 

 purchasers which constitutes one of the principal advantages of 

 auction sales over private sales, or sales by tender. 



Underioood Sales. — In the southern counties of England, under- 

 wood constitutes a very important crop. It consists principally of 

 oak, Spanish chestnut, ash, birch, and hazel, and is sold periodically 

 at 11, 12, and 13 years of age respectively. In fertile plantations, 

 comparatively sheltered, the underwood is as large at 1 1 years old 

 as it is in the upland districts at 1 3 years, and hence the age of the 

 underwood varies accordingly. It is worthy of remark, however, 

 that the underwood which has been grown in the upland plantations 

 is worth considerably more than what has been grown in sheltered 

 localities. The value of the crop, however, is controlled in a great 

 measure by the condition of the plantation in regard to timber trees. 

 If the plantation is overcrowded with trees, the underwood will be 

 comparatively worthless ; if it is fairly thinned, the underwood may 

 be worth L.4 per acre; and if thinned severely, it may realise from 

 L.8 to 10 per acre at 11 years old. In the upland districts, where 

 it is considered superior for making crates, sheep-cages, hurdles, and 

 hurdle-stakes, it sells readily at L.ll per acre at 13 years' growth. 



