96 FOREST MENSURATION 



stand per acre for the entire forest, regardless of whether it is fully 

 or partially stocked. Yield tables are very valuable in preparing 

 working plans or a plan of management for the future. They are 

 widely and extensively used in Europe, particularly in Germany, 

 France, and Switzerland, where intensive forms of forest management 

 are economically possible. Nearly all National Forests operated for 

 the production of lumber and other forest products, as well as for 

 grazing and game, have very detailed management plans for future 

 years. 



9. STUMPAGE AND STUMPAGE APPRAISAL 



Stumpage is the value of standing timber. The term may also be 

 used to refer to the standing timber itself. Stumpage values steadily 

 increased in this country until 1929. From 50 to 100 years ago, 

 stumpage values of $1 to $5 per acre were common. As there may 

 have been from 5000 to 40,000 or more b.f. per acre, these values rep- 

 resented from a few cents to a dollar per thousand board feet. Al- 

 though lumber values may fluctuate widely and rapidly, stumpage 

 values do not fluctuate with the same violence or rapidity. Stumpage 

 values have fallen rapidly since 1929. The high peak of lumber prices 

 was in 1920. Stumpage values reflected to some extent the high lum- 

 ber prices, but not in the same proportion. 



Stumpage values may vary widely with the species, location, size 

 of tree, accessibility, etc. The principal factors which determine 

 stumpage values are as follows: 



1. Species, Quality, Size, and Density of Standing Timber. White 

 pine, white ash, and black walnut enjoy relatively high stumpage 

 values. Tupelo gum, incense cedar, balsam fir, western hemlock, white 

 fir, and beech are woods of relatively low stumpage values. .Dense 

 stands are more valuable than scattered or open stands. Trees which 

 are free of knots, rot, checks, and insects, and which are straight, tall, 

 and symmetrical, are much more valuable than those which are short 

 boled, limby, tapered, and crooked. Virgin timber is generally worth 

 much more than second-growth forest. 



2. Accessibility. The distance from the market reflected in the 

 costs of logging and transportation are vital factors bearing upon 

 stumpage values. It is obvious that timber near a sawmill is much 

 more valuable than that located many miles away, involving expensive 

 forms of log transportation in order to place it on a competitive 

 market. 



