U4 



average price of $53.07 for the lumber, netted him $32.44 stumpage and 

 $3.42 profit on costs of logging. 



This stumpage contained a considerable percentage of veneer logs 

 of white oak, and to this extent represents a type of timber found orJy 

 in the remnants of the virgin forest and not likely to be reproduced in 

 the future. But other species, especially red and black oak, will furnish 

 materials for timbers and other domestic use, which, while not bringing 

 as high a price on the market, will serve as fully acceptable substitutes 

 in framing buildings for which purchased lumber would cost approxi- 

 mately the same price as that received for the saw-timber sold. The 

 sale of lumber at low prices is not justified where it can thus be used for 

 local purposes. Returns of 6.46 per cent of the total quantity reported 

 were for inferior species which brought a net price of $29.23 per thou- 

 sand board feet, leaving but $8.70 stumpage value. 1920 Census figures 

 give an average of all species for Illinois as $8.59. 



The tendency for stumpage values to absorb an increasing per cent 

 of final value of the product is well illustrated by the prices paid for 

 walnut timber, which averaged $49.29 on the stump. So great is the 

 demand for this lumber in certain lines of manufacture, especially furni- 

 ture and gun-stocks, that buyers usually purchase it on the stump, and 

 even buy and grub up large stumps if still sound in order to get the wood 

 they contain in the crown and upper roots. Yet buyers are not averse 

 to purchasing walnut groves at much less than these figures whenever 

 the purchaser is in ignorance of the value of his stumpage and there is 

 absence of local competition. 



Wood-lots containing virgin white oalj are now quite scarce in south- 

 ern Illinois, and the entire region has been gone over thoroughly. A 

 few owners are found who sell each year a small number of choice trees 

 as logs, at satisfactory prices to net them an annual income from the 

 wood-lot. But except for such species as walnut, which can continue 

 to be grown in plantations, on good soil, the day of the large high-grade 

 sawlog is about over for Illinois woodlands, and the saw-timber of the 

 future will be obtained more largely from 12 to 14-inch trees than from 

 those 20 to 25 inches in diameter. Such trees can be produced in shorter 

 periods and will suffice to supply the needs of the farm in this direction. 

 The sale values, costs of cutting and hauling, and stumpage values of 

 the remaining products were derived from the averages of the replies 



