FOREST CONDITIONS. 345 



years ago, are doomed to non-productive condition 

 for generations. 



The owners of expensive permanent mill estab- 

 lishments, relying on timber supply, are naturally 

 more interested in a continuity of local supplies 

 than those who can readily change their location 

 when the supplies in one locality are exhausted. 



Hence such manufactures as the paper-pulp in- 

 dustry will become or are already interested in 

 more conservative use of their holdings. 



Lately, as in all commercial enterprises, a ten- 

 dency has developed in the lumber industry to con- 

 solidate forest properties and form trusts, which 

 own many thousands or even millions of acres of 

 forest land. 



Such trusts may be and probably are mostly 

 formed for the immediate financial advantages ac- 

 cruing from combination, but they could, and, if 

 they consulted their true interests, would, practise 

 a more conservative treatment of their timber and 

 introduce forestry methods, which would prove in 

 the end the wisest continual financial policy. 



Trusts, therefore, properly organized for con- 

 tinuous business, may prove next to governments 

 the most hopeful agencies for practising forestry, 

 since they can control large areas under uniform 

 and continuous policy. 



Another class of conservative owners of forest 

 property is coming to the fore, namely, wealthy 

 capitalists, who can see the financial advantages of 



