After figuring the theoretical selling value of 

 there lunger at Bay -joints ac determined "by adding freight 

 to the selling value in the producing market unit, we assumed 

 that all lumber products from the producing territory passed 

 through the Bay Re^fi on, which, of course, they don't* But 

 that's the assumption, we r :ore compelled to malro, Uezfc we 

 figured baclr to other producing units by deducting tho 

 freight fron then to Bay points. It <Iidn T t go very well* 

 "7e had some fairly reliable figures in one other unit and 

 when we oarae to figure values in that unit "by the method 

 authorized, they weren't within a thousand miles of the 

 local figures; so we assumed that our original assumption 

 was wrdhg and that all the lumber didn't go into one marliet. 

 ' T e did nore figuring and reduced the values from Bay Region 

 bc.cli to Reno, Sacramento, Los ^Jigoles , Cgdon, Chicago, Fresno, 

 mailing a total of seven markets. Than we tooli a grand aver- 

 age under t::_e asciimption tliat every one of ov.r producing 

 points sold equal amounts of oqual grades of the same species 

 in these markets - fallacy, "but it gave us some figures. It 

 gave us some we can got no: 3 year, and uill give us a gener- 

 al idea of the rise in value, rise in selling price from 

 year to year thecrotically. However, it doesn't represent 

 the selling value of luiaoer at any point except where the 

 figures were originally obtained. 



If we base our selling values upon this meager in- 



275 



