Tirwu?i , dons it y of stand and size of 

 timber* 



Upon -clio "basis of this and similar information re~ 

 ge^dlng losing possibilities, tlio method of locking and 

 typo of operation "best adapted to tlie unit is worlrod out. 

 lle:,t; folloi/s the deterninc,tio:.i fro::i this dr,ta of tho approx- 

 imate avora;,e investraont required 'to oari^ on tl:,e operation. 



The appraiser is no 1 / roacly to mal:e his estiLiate of 

 the entire oost of operation. It should he based upon tho 

 data he has secured and should include - sinking fund or 

 depreciation, interest, mcintonauce, login, milling, yard 

 charges, selling charges, and overhead chp.rgos, 



This completes the compilation of the field data 

 and the ne;:t stop is the c ale ill at ion of tl'.o avera-o selling 

 p^rice for e::ch species as affected "b'j t"ie rohr.Mo percent- 

 age of grades. Then the avorape sell in:; prioo for all 

 species as af footed "bj- the proportion of each rial:i:A{.; up .the 



total cut. 



Ho nattor \/haa f crania is used, the final factor 

 is the determination of the permanence and risl-: of "^he oper- 

 ation in their relation to tho per cont of ; rofit oo "be 



allowed. 



i 



10:BE - Remarlis "by Mr. Mackenzie. 



11101SII2II3: 



I feol a little apprehensive, sonev/hat naturally, 



233 



