44 LOGGING 



of the trustee, the cost of printing the mortgage, Hthographing 

 the bonds and other incidental expenses. 



Some bond houses cruise the cut-over areas at occasional 

 intervals in order to check up the original estimates and the 

 actual manufacture of lumber; examine other portions of the 

 timberland property which is security for the bonds in order to 

 learn whether any timber cut has not been reported, or has been 

 killed by fire, wind or insects; and also investigate the general 

 management of the property for efficiency. By this means a 

 close check is kept on the conduct of the business and the rights 

 of the bond holders can then be fully protected. 



BIBLIOGRAPHICAL NOTES TO CHAPTER III 



Bartrell, E. E.: Questions of Law Encountered in Timber Bond Issues. 

 Annals of Am. Acad., Supplement, ]May, 191 2, pp. 23-24. 



Braniff, E. A.: Timber Bonds. Proceedings of the Society of .\merican 

 Foresters, Washington, D. C., 1912. Vol. VH, No. i, pp. 58-79. 



CuMMiXGS, W. J. : Waste Material as a Source of Profit and Added Security in 

 Timber Bonds. Annals of American Academy, Supplement, Philadelphia, 

 May, 191 2, pp. 76-80. 



Jones, A. F.: Accountants Relation to Timber Bond Issues, .\nnals of .A.m. 

 Acad., Supplement, May, 191 2, pp. 51-58. 



Lacey, J. D.: Science of Timber Valuation, .\nnals of Amer. Acad., Supple- 

 ment, May, 191 2, pp. 9-22. 



McGrath, T. S.: Timber Bonds. Craig- Wa>Tie Company, Chicago, Illinois, 

 1911. 



: Timber Bond Features, .\nnals of Amer. Acad., Supple- 

 ment, May, 191 2. 



Sackett, H. S.: Timberland Bonds as an Investment. American Lumber- 

 man, Chicago, Illinois, January 25, 1913, pp. 33-35. 



