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northwestern California. On August 9, I received a letter 

 from Congressman Hansen requesting approximate values for 

 old-growth and second-growth timber stands typical of 

 those that may be found in Humboldt County, California. A 

 copy of this letter and my response is attached to my 

 statement. To summarize my response to Congressman 

 Hansen's request, we have estimated that an average acre 

 of previously unentered old-growth redwood and Douglas-fir 

 in Humboldt County had a value in the summer of 1993 of 

 approximately $190,000 per acre. During this same time 

 period, the average acre of 70 year old second-growth 

 redwood and Douglas-fir had a value of approximately 

 $53,000 per acre. 



These numbers are average, and cannot be applied to. 

 any specific property. Timber values are dependent upon 

 the relative location, stand age, timber and site quality, 

 and the cost associated with the harvesting of the 

 timber. Although I have not specially studied the entire 

 44,000 acres proposed in this legislation, I am generally 

 familiar with the types of stands on Pacific Lumber's 

 lands. The quality of those stands, and particularly the 

 old-growth redwood and Douglas-fir found there, is 

 generally better than that of the average stand. 



Historically, redwood and Douglas-fir timber prices 

 have exceeded the rate of inflation. In the last few 

 years both redwood and Douglas-fir timber prices have 

 greatly increased in value, apparently in response to both 



