LOBLOLLY OR NORTH CAROLINA PINE. 



139 



Table 71. — Stumpage Value Per Acre of Fully Stocked Stands of Loblolly Pine at Dif- 

 ferent Ages on Different Quality Sites and Under Various Costs of Operation; and 

 THE Rates of Compound Interest Yielded on an Initial Soil Value of $5 an Acre. Based 

 ON Mill Cut 1-7 Inch Saw Kerf. 



Quality I 



Quality II 



Quality III 



an acre is 7 per cent obtained from a stand 40 years old with operating 

 expenses of $11 per 1,000 feet; 6 per cent from a stand 50 "years old 

 with operating expenses of $13 per 1,000 feet; and 5 per cent from a 

 stand 60 years old when the operating expenses are $15 per 1,000 feet. 



On Quality III site the maximum interest rate on the soil value of 

 $5 an acre is 5 per cent obtained from a stand 50 years old when the 

 operating expenses are $11 per 1,000 feet; 4.5 per cent from a stand 60 

 years old when the operating expenses are $13 per 1,000 feet ; and 4 per 

 cent from a stand 70 years old when the operating expenses are $15 

 per 1,000 feet. Table 71 is similar to Table 70, but is on the basis of 

 actual mill cut (1-7-inch saw kerf). 



