In order that we will "bo in a "hotter position to calculate 

 tho total cncl evorafo investment roruirec., thoro is &roat 

 need for information concerning tho cost of equipment and 

 tho construction of improvements. Closoly rolatod to the 

 nood for this information ia the need for some information 

 concerning the wording capital rocjaiirod by operations of 

 various sizoc# If aiiy attention is paid to appraising 

 stumpage rat as upon the "basis of the profit upon the average 

 investment, ouch information is absolutely necessary. An- 

 other importej.it point in appraising otumpago rates is the 

 percentage of grades out fron different stands* 



In carrying out future lumber studies it is planned 

 to havo one man from tho District devote his entire time to 

 tho work* The duties of the nan in charge will be largely 

 to plan, systematize and assign the wortc. Ho will also con- 

 duct special investigations of operations during- the field 

 season and during the \vintor season will correlate and com- 

 hino tho data scoured from all sources, ~s it becomes 

 necessary, ho will have charge of the compilation of such 

 data for publication. In addition, he will probably "be able 

 to devote considerable attention to assisting in the calcu- 

 lation of operating costs for lar^'O propositions which may 

 come up throughout the District* 



DUBOIS: 



Berry's paper was excellent . Ihere are one or two 



