Forest Mensuration 71 



This discrepancy may be explained, above all, by 



Ignorance of owners of stumpage; 

 Agents' and dealers' profits ; 

 Incidental expenses overlooked. 



Stumpage-values show a rapid decrease with the increase of the dis- 

 tance separating the tree from the nearest railroad or stream. 



The grades of lumber and their proportion obtainable from logs of 

 given species, diameter and soundness (including presence and location 

 of defects) can be ascertained only by test-sawing in the mill. 



This has been done in 1896 for yellow poplar at Biltmore (bandsaw 

 mill). The stumpage-values then ascertained are shown by the follow- 

 ing table : 



MARKET VALUE OP POPLAR STUMPAGE IN WESTERN NORTH CAROLINA, PER 

 TREE, IN CENTS. 



FOOTNOTE: Dots below a column of figures indicate higher values, not 

 specifically ascertained. 



The values above the columns of figures are all negative and were not 

 ascertained specifically either. 



It is to be hoped that similar tests will be made for our leading species 

 on a large scale by the U. S. Forest Service or by the various associations 

 of lumber manufacturers. Conservative forestry as a business badly re- 

 quires data allowing to estimate the actual value of logs, and hence of 

 trees, if the uncertainty of financial results now checking the progress of 

 conservative forestry in America is to be definitely reduced. 



