COST OF GROWING. 55 



Soil value. The cost of growing yellow poplar in plantations as shown 

 in Table 21 is bas.ed on a soil value of $10 an acre for best quality sites, 

 of $5 an acre for average quality sites, and $3 an acre for poor quality 

 sites. These are reasonable values for sites which are in a suitable con- 

 dition for planting. If the land is situated in a farming section the values 

 of soils which produce yellow poplar, even if the sites are extremely 

 rough, will not be less than these. If it is situated in a cut-over moun- 

 tainous section where the average value of the soil does not exceed $2 an 

 acre, the sites suited for yellow poplar would embrace only the very best 

 soils the coves and lower slopes which would amount probably to less 

 than 20 per cent, of the area of any large tract. One-third of this 20 per 

 cent, might have a growing capacity equal to that given for the best qual- 

 ity sites, while that of the remaining two-thirds would be less. Its rela- 

 tive value consequently would be far greater than that of the other 80 

 per cent, of the tract. If the land were foul, making it necessary to cut 

 off some of the brush, as would often be the case, this would add to the 

 cost of planting and counterbalance its apparent cheapness. 



Cost of planting. The cost of planting one-year-old seedlings, includ- 

 ing the cost of the planting stock as well as the labor, is placed at $6.00 

 an acre, a low figure, but possible if the work is economically done and 

 if the seedlings are home grown. On the best sites where spacing need 

 be only 8x8 feet (680 trees to the acre) the cost would be less. On poor 

 sites where a spacing of 6x6 feet should be used (1,200 trees to the acre) 

 the cost of planting yearlings should not exceed $6.00. 



Yield. Yield of plantations is calculated on the basis only of thinning 

 stands (page ) since it is doubtful if any plantations will be established 

 except where thinning can be made. The material from thinning is given 

 a value of $2.00 a cord, a high value for the small-sized wood from the 

 early thinning but low for the larger-sized wood from the older stands. 

 Interest is allowed on the value of thinnings of four per cent, net, ac- 

 crued for each five years. 



Interest rate. A five per cent, rate is allowed on all expenses connected 

 with establishing the plantation and taxes, except in the returns from 

 thinnings, on which only four per cent, is allowed. 



Protection. For the cost of protection and superintendence, five cents 

 an acre a year is allowed. In the case of estates and farmer's plantations 

 this cost can be entirely eliminated. In the case of forest plantations the 

 cost of protection may exceed this item for the first 20 years. It should 

 rapidly decrease, however, with the age of the stand and with succeeding 

 thinnings. 



