33 



which in about twelve years will afford another cutting nearly 

 equal to the first. 



The Yield. The yield for a catalpa plantation will vary with 

 the quality of the soil and with the care that the trees have 

 received. On favorable soil, under this treatment, it is safe to 

 count not fewer than 3500 posts per acre when the trees are 

 from 14 to 18 years of age. The following table gives an item- 

 ized account of the cost of growing a 20-acre catalpa planta- 

 tion and the returns received from it : 



Expenditures Per Acre. 



Plants, 2722 at $1.15 per thousand $3. 13 



Preparation of the ground, planting, cultivation, and pruning, 18.46 



Total $21 . 59 



Interest on $21.59 for 16% years at 5 per cent, compounded. ... 26.34 

 Cutting and marketing ." 61 . 90 



Total expense for growing and harvesting the plantation 



per acre $109 . 83 



Receipts from the Twenty Acres. 



31,397 third-class posts, at 5 cents $1,569.85 



17,349 second-class posts, at 10 cents 1,734.90 



4,268 first-class posts, at 12% cents 533.50 



270 first-class posts, at 15 cents 40.50 



211 eight-foot posts, at 20 cents 42.20 



9 ten-foot posts, at 25 cents 2.25 



4 ten-foot posts, at 30 cents 1.20 



258 ten-foot posts, at 35 cents 90.30 



41 twelve-foot posts, at 40 cents ...... 16.40 



167 fourteen- and sixteen-foot poles, at 50 cents 83.50 



Total for posts and poles $4,114 . 60 



214 cords of wood, at $5.25 1,123 . 50 



Total income from twenty acres $5,238 . 10 



The total of $5238.10, as the proceeds from twenty acres, is 

 equal to $261.90 per acre. If from this the cost of $109.83 per 

 acre for growing and marketing the crop is deducted, we have 

 $152.17 as the net proceeds per acre, equivalent to an annual 

 net income of $9.31 per acre. In other words, if the land had 

 been rented it would have had to bring an annual cash rental 

 of $9.31 per acre for this period to equal the income derived 

 from the plantation. 



This plantation was grown on only ordinary farm land, and 

 the returns should be easily duplicated on favorable locations 

 throughout the eastern half of the state. 



