AND INTERMITTENT 



Comparison of yearly and intermittent working. 



1. Growing stock at 

 beginning. 



2. Growth of ripe stuff 

 during the 80 years. 



3. Growing stock at 

 end of 80 years. 



4. Vahie oi property 

 at beginning. 



5. Income during the 

 80 years. 



6. Income at 80, i. e., 

 in last year. 



7. Condition at end of 

 first twenty years: 



Property with yearly 

 cut and yearly income. 



40,000 cords. 

 80,000 cords. 

 40,000 cords. 



$10,000 for lan< and 

 about $60,000 for grow- 

 ing stock. 



$320,000 plus ^interest. 



$4,000. 



Has Earned: 

 Per year : 



Income : 4000. 

 Expenses : 



Rent 335. 



Tax and care 1000. 



Planting 125. 



Total expense 1460. 

 Net income per year, 



$2540. 

 Net income for 20 years 



(1,03* i) 



2540 or about 



i .01 i 



$67,700. 



Property with a cut 

 and income every 80 

 years. 



None. 



80,000 cords. 



80,000 cords. 



$10,000 for land noth- 

 ing for growing stock; 

 might enter plantation. 



None, thinnings not 

 considered. 



$320,000. 



In Debt: 



Expenses per year: 

 Rent 335. 



Tax and care 1000. 

 Total 1335. 

 For 20 years' expenses : 



(I.03 20 -!) 

 1335 - or 



1.031 

 $35,600. 



For planting 10,000. 

 Phis interest or 



10,000 ( i. 03 20 )=r 18,000. 

 Total expenses for 20 

 years : 

 $53,600. 



This simple case of a comparatively small property brings out 

 the great disadvantages of the intermittent working of a forest prop- 

 erty. The man who owns 1,000 acres of land and sees before him 



