tain narlrots without indicating a change in coot of p 

 tion; (5) geographical location vzith respect to transporta- 

 tion may slier./ monopoly and the filing of prices regardless 

 of the cost of production; (6) marhet demands vary from year 

 to year; new fashions or uses of Itbriber are constantly "be- 

 ing evolved and therefore the came grades or species may 

 havo different values at different tines, even though the 

 cost of production remains constant. 



But oven if we did secuie an accurate average m-ice, 



^ - ~>- 



it \rould he of comparatively little value, if applied in 

 spocific cases* _^s an oriamplo ~ it does not do the ov/ner of 

 a oucalyptus plantation an: r c." 00 ^ "- -^IOT; that the average 

 soil in this 3ta. o -./ill produce 10,000 feet B.M. in 10 years* 

 In spite of this situation, how can we intelligent- 

 ly read.j,ist sturapac;o in lon^-tern sales? She most o"bvious 

 way would "be to ascertain as accurately as possible the dif- 

 ference hot-een the sollin;: value of luiobor a3 against the 

 cost of rnam^f act urine", figure out the per cent of such in~ 

 ci ease and arbitrarily add it to the stumpaco. ^Ithoucch an 

 admittedly crude method, it may "be the only practical one 

 available. However, a more scientific method may "be sug- 

 gested: Out contracts allow us the privileco of examining 

 the "boohs of the companies whose tsttmpace is to he adjusted. 

 Thirj can ho (. one periodically. *7e might arbitrarily read- 

 ^tuD-b stumpaGe for the co^^any in question on the figures so 



27V 



