NOTES. 485 



These figures accord closely enough with the writer's concep- 

 tion, which was used in making the computation of the standing 

 timber recorded on p. 52 upon the basis of the area stated 

 on pp. 472-473. 



The compiler comments as follows : " The average stand 

 of timber per acre, being that of selected tracts owned by 

 lumbermen, is, of course, higher than the average of the coun- 

 try or state, and in the case of several of the states where the 

 average stand has been obtained, it is known to be much 

 higher. Thus in Minnesota the average stand is about one- 

 half that here given, or about 2000 feet per acre. The same is 

 the case in Oregon and Washington, where the large stands 

 here given (24,500) must be divided by 2 to obtain the average 

 stand of the state. The southern pine has an average stand, 

 according to the best information, 1 of not far from 3000 feet 

 per acre, a little lower perhaps in the east and somewhat higher 

 in the west." 



With such reductions we can accept Mr. Gannett's forest 

 area of 700 million acres and find the condition of supplies 

 even worse than the writer has presented it in Chap. XI. 



The average investment for stumpage would, from the above 

 tabulation for the better lands, be $i per M feet or $6.70 per 

 acre ; but it is well known that these figures are understate- 

 ments as to the true stumpage value, and the tables recording 

 the stumpage values for different states and different species 

 show this to be the case. Here the stumpage value per 

 M feet is given as $2.18, which, with an average stand of 

 6700 per acre, makes the stumpage value per acre $14.60. 

 That even these recorded stumpage values remain below the 

 actual truth, at least in certain instances, may be judged from 

 the statement that the stumpage for white pine ranges in the 

 states in which it is of importance between $3.50 and $4 per 

 M, when in actual sales double the higher figure has been 



l See Dr. Charles Mohr, " The Timber Pines of the Southern United 

 States." 



